Buying Gold & Silver with Bitcoin in 4 Easy Steps
Bitcoin Quick Search Table of Contents
How to Purchase Precious Metals with Bitcoin
Note: If you already have a Bitcoin account and wallet, you can skip down to the section titled “4 Easy Steps to Buy Gold with Bitcoin”. If you don’t own Bitcoin, read this section for links to resources that will get you on your way.
Before you can buy gold or silver with BTC, you’ll need to acquire some of the cryptocurrency. As with most unfamiliar things, the process can seem a bit intimidating, but it really isn’t complex. It’s basically a 2-step process. Bitcoin.org has a Getting Started With Bitcoin page that walks you through the steps.
- SeT UP A WALLET
- GET BITCOIN
- GOLD & SILVER
Set up a wallet – A Bitcoin wallet is pretty much what it sounds like – a place to securely store your cryptocurrency and facilitate transaction. It’s really no different than putting dollars in your billfold. You stick your money inside and keep it there until you need to spend it. Then you pull out your dollars, hand them over to somebody else, and they put them in their wallet. A BTC wallet operates on the same concept, except it all happens via computer. When you set up your wallet, you will get a unique digital address and a security key. Bitcoin.org has a page to help you chose the wallet that’s right for you.
Get Bitcoin – Once you have a wallet, you can acquire Bitcoin. There are a number of ways to do this. You can accept them as payment for goods and services. You can buy them from another Bitcoin user. You can even “mine” them. But the easiest way to get Bitcoin is to simply buy them through a reputable Bitcoin exchange site using your bank account. It’s really no different than buying euro or yen through an exchange. Bitcoin.org provides a lists of exchanges from around the world.
Purchase Precious Metals - Once you have some bitcoin in your wallet, you are ready to buy gold and silver. Move on to the next section below called "4 Easy Steps to Purchase Gold with Bitcoin.".
4 Easy Steps to Buy Gold with Bitcoin
Purchasing gold and other precious metals with Bitcoin is even easier than using your bank account. You can very simply convert your BTC into gold and silver in four simple steps. Our precious metals specialists will walk you through the process and answer any questions that may come up.
Step 1: Call
First call (888) 465-3160 to talk with one of our knowledgeable specialists, or you can chat discretely and directly at SchiffGold.com.
Step 2: Invoice
Once you finalize your order, we will generate an invoice priced in Bitcoin through the payment network BitPay. You will receive the invoice via email.
Step 3: Bitcoin Wallet
With invoice in hand, you can very quickly and simply pay it in Bitcoin using your wallet.
Step 4: Shipping
After the transaction processes, we will ship the metals directly to you, or you can set up a storage account through us.
Top 5 Advantages to Owning BTC
There are a number of advantages to owning Bitcoin. Most of these revolve around anonymity and security. BTC is built on a decentralized platform known as the blockchain. Because of its nature and its inherent redundancy it is virtually impossible to hack the system or trace transactions, as long as you take steps to protect your personal information. Following are the top five advantages of owning BTC.
Reasons to Buy Precious Metals with Bitcoin
Bitcoin has significant upside. BTC and precious metals both offer alternatives to government monopolized fiat currency. They play a similar role as free market, sound money. But as with any financial instrument, there are potential pitfalls. Diversifying your cryptocurrency portfolio with precious metals can help mitigate some of the potential downside and put you on in an overall stronger financial position.
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Physical Gold & Silver as an Investment
“At the end of the day, there is no substitute to having something physical in one’s possession.” “With physical gold, there is no 3rd party between yourself and your investment.” “Some say if you don’t hold it, you don’t own it”.