Buying Gold With Bitcoin

[on1k3n 470]

Recently, I came across something on the internet about buying gold with Bitcoin. This seems like this would be good because it's  a double investment. You can invest in bitcoin, and you have gold as a backup. What do you think about this? Would this be a smart investment why or why not? Have you ever bought gold with cryptocurrency? 

[Great Commander 659]

Yes. Buying gold is probably the best thing you can do wirh bitcoin as gold's price is stable. However bitcoin's price changes in real time so it is a good idea to store it and buy gold or whatever you want

 

[asjnahid2 5]

I dont know about this but if it happens it will be great. Buying gold with BTC is the best thing . Thank you.

[Rg123 318]

Well, the price if bitcoin is higher than gold, the price of gold is stable unlike bitcoin that it change by hour, you can buy some many gold using bitcoin its because the price of gold it can say that is cheap.

[jyfiuhookl 10606]

I think bitcoin is almost like gold! And if you invest in gold, it must be real!Otherwise it's a double risk!

[Nicecrypto 543]

9 hours ago, on1k3n said:

Recently, I came across something on the internet about buying gold with Bitcoin. This seems like this would be good because it's  a double investment. You can invest in bitcoin, and you have gold as a backup. What do you think about this? Would this be a smart investment why or why not? Have you ever bought gold with cryptocurrency? 

Even if it's true but you cannot be having both at the same time. You can either decide to hodl your Bitcoin or spend your Bitcoin to purchase gold and Wait for the value of gold to appreciate it's the investors decision.

[dentolas 551]

If it is not a scam (in my country there are a few ATM machines made to buy physical gold with fiat), it would be a very good thing that the store of value in crypto (BTC) finds a direct door into the store of value in fiat... as an investment it would only work for btc or gold as you wouldn't be holding them at the same time ... but this isn't this almost the same as a crypto stable coin backed in gold?

[RyujinONE 131]

What?

You only got 1 asset how you got double investment, i tough the thread topic was discus about how to buying a physical gold using a cryptocurrency. The OP question with thread was really diferent

[Rudyst 4]

Yes. Buying gold is the best thing you can do with yours bitcoin as gold's price is stabl but bitcoin's price changes in real time so it is a good idea always you still invest you can may good things....but bitcoins it's a less probably then someone can atole you ir something like that had a nice day 

 

[bliznec 22267]

It is reasonable to buy gold for bitcoin. There are traders who are involved in this business. The main thing is to invest profitably and choose the right platform for the purchase. 

[Corrado25 9442]

I do not know how appropriate this is. It is much easier for people to buy gold for traditional fiat money. Not everyone knows how to use bitcoin to pay. Although it is more like a publicity stunt and a way to promote bitcoin

[Angelina 64]

11 hours ago, on1k3n said:

Recently, I came across something on the internet about buying gold with Bitcoin. This seems like this would be good because it's  a double investment. You can invest in bitcoin, and you have gold as a backup. What do you think about this? Would this be a smart investment why or why not? Have you ever bought gold with cryptocurrency? 

Yes it must be profitable because the price of gold stops...Bitcoin prices go up and down but gold prices remain the same all the time..So if gold is bought with bitcoin then there will be much profit..

[on1k3n 470]

3 hours ago, Nicecrypto said:

Even if it's true but you cannot be having both at the same time. You can either decide to hodl your Bitcoin or spend your Bitcoin to purchase gold and Wait for the value of gold to appreciate it's the investors decision.

You can have both at the same time. Just spend some of your Bitcoin on gold and keep the rest. It would make sense to do this because as people mentioned in the thread the price of gold is stable, and Bitcoin isn't. That's why you buy gold to counteract the instability of Bitcoin. It's a pretty good idea, if you think about it. 

[zhaazure27 524]

14 hours ago, on1k3n said:

Recently, I came across something on the internet about buying gold with Bitcoin. This seems like this would be good because it's  a double investment. You can invest in bitcoin, and you have gold as a backup. What do you think about this? Would this be a smart investment why or why not? Have you ever bought gold with cryptocurrency? 

I have never bought gold using Bitcoin. Maybe because where I live, no one has sold gold with payment via Bitcoin. This is a good step by usually we buy gold using Bitcoin. The same is true for us to barter investments.

[Corrado25 9442]

14 hours ago, Superred said:

Never heard the sites can buy gold directly use bitcoin and i think before you use them check their reputation because it's necessary to avoid being scammed but indeed gold and bitcoin are good as investment tools especially for long term hold

It is possible that this is fraud. To buy something through the site for cryptocurrency, you can lose your coins. If it was possible to come to a jewelry store and there to pay with bitcoins for the purchase of gold then it is quite normal and safe. Although then it would come and pay the tax for sure

[ultimateclub 392]

I never bought gold with bitcoin. Maximum time Gold's price is remain in stable position. But bitcoin is volatile. You can hold both as both will generate your profit. Specially bitcoin.

[bliznec 22267]

25 minutes ago, Nurazizi said:

That is the only option if not to my opinion I know we can buy gold with btc and we can use gold to exchange with btc

Buy gold and wait a very long time for the fact that gold will bring net profit per year. Gold is not comparable with bitcoin because bitcoin will overtake gold several dozen times in volume and price.

 

I would like to buy gold for bitcoin is a decent deal.

[M Aqeel 59]

The only reason, the positive one, is that by buying gold with bitcoin, you have an asset which has somewhat stable price over a period of time as compared to bitcoin which is very volatile in nature. Besides this I do not see any obvious reason to buy gold with bitcoin. With bitcoin one has more probability of profits as well as loss as compared to gold just because of its volatile nature.

[on1k3n 470]

3 hours ago, M Aqeel said:

The only reason, the positive one, is that by buying gold with bitcoin, you have an asset which has somewhat stable price over a period of time as compared to bitcoin which is very volatile in nature. Besides this I do not see any obvious reason to buy gold with bitcoin. With bitcoin one has more probability of profits as well as loss as compared to gold just because of its volatile nature.

It really doesn't matter if Bitcoin is volatile in nature, it's worth more than gold. This is why you buy both of them as a double investment. Should Bitcoin's price fall, you have gold as a backup option. Are you getting what I'm saying now? 

[TimopheyKa 3900]

✨It seems to me that this is not the best solution, because when exchanging gold, you will have to pay a state tax, rather than bitcoin. I think it is much more optimal to invest in another currency than in gold, well, of course.🤴

[bentayebsalah 2280]

I have never done this but I know that there is digital gold and the conversion of the value of real gold in electronic form to facilitate storage and transfer as well as to create a backup for him

[Keith700 1885]

On 11/13/2019 at 12:21 AM, on1k3n said:

Recently, I came across something on the internet about buying gold with Bitcoin. This seems like this would be good because it's  a double investment. You can invest in bitcoin, and you have gold as a backup. What do you think about this? Would this be a smart investment why or why not? Have you ever bought gold with cryptocurrency? 

This type of double investment can fill the head of ego to many people today, despite being an intelligent investment in terms of parities and percentages, it is also a dangerous thread to invest, thousands of people can perform this activity but few choose a fixed asset to use.

[Sumayya 493]

It is another way of investment, gold is more stable than Bitcoin and it will be better for more term holding than Bitcoin 

[pangitmo 186]

Buying gold with crypto wilk surely have great benefits since gold is somehow better than other currencies.

[Thekingcallme 1975]

I saw this on spectrocoin and you can buy gold through it
But I did not know what the benefit of this and is it reliable to buy gold and store it on the Internet