How to buy gold with Bitoin.
If you’re interested in cryptocurrency then it’s really only natural to also be interested in gold. After all, the gold bugs hated fiat money before it was cool. While it’s easy to get sucked into the enormous gains of cryptocurrency, it’s also important to realize that those happy days could end very suddenly. When they do it’s best to have a rainy day nest egg, but if you don’t want it back in your native currency then where do you put it?
For me, part of that nest egg is going to be invested into gold, silver and platinum. If you’re interested in taking a similar stance the good news is that it’s incredibly easy to buy gold with bitcoin. While other retailers have been hesitant in stepping up to the plate to accept cryptocurrencies, the precious metal dealers have knocked it out of the park. There’s a ton of options here, but I’d like to tell you about my favorite option. One that will let you swap in and out of metals and cryptocurrencies freely.
- The gold standard in America ended in 1971
- Gold is used in various electronics
- Precious metals are often used as a hedge
- Metals are often a good store of value
- Gold resists inflation
- China produces 450 tons of gold per year
Here’s the part of the article that the gold bugs will hate. I don’t actually hold any physical gold. For most people who are interested in investing in precious metals, one of the reasons is that they want to hold it on their person much like cryptocurrency enthusiasts do. Unfortunately, that creates a problem for me, because that makes it much harder to get it back into Bitcoin later. Holding physical metals is a great thing until you have to actually sell them. If you want to bury gold bullion in your yard then that’s your business, but it does not appeal to me. So, I set about finding a way that would allow more flexibility.
My first choice for this journey was Gold Money, and that quickly turned out to be a horrible experience. It took them so long to approve my account that I gave up. Fortunately, that lead me to a better option. This company is not as glitzy as Gold Money is with their shiny gold debit cards, but they do excel in other ways. First, the sign up process is amazingly smooth. No verification of any kind is required, and you can have an account within 30 seconds. That’s because they’re based in Singapore.
What’s so great about Singapore?
- The free-trade capital for global business
- Not subject to any reporting regulations
- Offers strong property ownership rights
- One of the safest countries in the world
- Precious metals are tax free
- No jurisdictional ties to the EU or USA
If I’ve piqued your interest and you’re curious about owning some gold in the lovely country of Singapore, then I’ve got good news fellow cryptocurrency enthusiast! BullionStar makes it super easy to purchase gold with Bitcoin. You can then choose to either have your purchase mailed to you or take advantage of their exceptional storage program which is both inexpensive and secure.
Bullion Star’s website is easy to use, and their storage fees are very low. The nation of Singapore also benefits from having a large degree of personal freedom, but still manages to have one of the lowest crime rates in the world.
They use these freedoms to protect your personal information in a place where outside authorities are kindly told to piss off. If you’ve ever had to fill out an exhausting questionnaire that wanted to know every street you’ve ever lived on and what you normally have for breakfast, then the Singaporean approach to things will likely be a welcome change. The best part about Bullion Star though is the fact that they make it super easy to sell your stored metals back into Bitcoin. All of this can be done within your online account, and if you use their gold savings program these transactions can even be instant. This essentially gives you the ability to transfer your profits into a more stable asset, and then quickly flip them back into Bitcoin if the need arises, giving you better options when trading. Maintaining liquidity is important to me. Wealth is meant to be leveraged to your advantage to acquire more wealth, and I will always choose the services that allow me to do that in the easiest way possible. Bullion Star gets an A+ from me on that front.
They allow you to buy pretty much anything you could ever want concerning bullion varieties, sizes and shapes. However, bars are the most economical option as there’s typically a heft premium for coins since they are considered collectibles. If you can’t afford to spend a ton of money in one go then they do have a savings program which will allow you to purchase “bullion savings grams”. These are backed by real gold, silver or platinum, and when you collect enough of these you can trade them for a physical bar.
You may consider just keeping the bullion grams though. They have a guaranteed peg to their underlying metal, they come with a low spread price, and transactions can be settled instantly. This gives you the most flexibility when trying to store wealth that you may want access sooner rather than later. However, anything you buy at BullionStar can be cashed out to Bitcoin regardless.
If you’re the paranoid type, then you’ll be interested to know that their facility undergoes a rigorous auditing process, and they provide not only serial numbers but also photographic proof of your individual bullion pieces or coins. These will all be uploaded for you to view in your dashboard. They also invite investors to stop by the public location to tour the vault and audit their holdings themselves.
I did a full length write up/review on all the services they offer, and how it all works which you can read here if you’re interested. You can also see some screen shots of the dashboard, and how they handle your metals which is pretty cool honestly. It won’t cost you anything to register for an account, and they’ll even give you about $5 worth of silver by way of savings grams to test out their vault storage system. Get a Bullion Star account here.
If you’re more interested in holding your metals physically then you should be aware that this will be a more expensive option thanks to shipping. However, I still think it’s worth it to do business with someone that truly respects your privacy. All shipments are tracked and insured as well so you can be sure that they will arrive, and they will even buy back metals you are holding personally as long as you can get them there.
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