Modern investors diversify their portfolios with a robust mix of traditional and innovative digital assets. Often dubbed as digital gold, Bitcoin is a valuable asset per se. However, many crypto investors prefer to reallocate some of their blockchain-based funds into the most ancient and stably profitable solid gold. Luckily, many platforms currently offer the possibility to buy gold with Bitcoin and other cryptocurrencies.
Benefits of Gold Investments
Gold is one of those rare assets that has managed to preserve its value through centuries of geopolitical changes, economic turbulence, and market fluctuations. It’s a universally treasured possession too. Unlike fiat money that largely depends on the success of a certain economy, gold always has a practical use and is cherished in most cultures of the world.
All things considered, it is no wonder that the value of this precious metal has quadrupled over the last 100 years, which makes it one of the most profitable long-term investments. Even in the short period of time, investors may be quite sure they won’t lose money spent on gold products. Although gold’s live price fluctuates like any commodity, it inevitably shows growth over a few months or years.
Gold Demand Is Surging Today
Gold is considered a good hedge against inflation and banking crises. Therefore, so many global economies have solid gold reserves. Institutional investors also often flock to the safe-haven precious metal during times of market turmoil, as it happened in 2022. The shock of global wars and financial instability forced central banks to make the highest number of gold purchases on record.
Individual investors also find gold attractive amid the ongoing macroeconomic uncertainty. The World Gold Council’s Q1 2024 Gold Demand Trends report reveals that total global gold demand (including OTC purchases) was up 3% year-on-year, reaching 1,238T, illustrating the strongest first quarter growth since 2016. Bar and coin investment increased steadily, and even global jewellery demand remained resilient despite record-high prices.
Where Can You Buy Gold With Crypto
Gold is sold in many forms e.g. bullion, gold coins, jewellery. In addition, there are indirect forms of gold investment such as gold futures or gold exchange-traded funds (ETFs). There are many marketplace platforms dedicated to this precious metal as well as dealers selling physical gold items. However, not all of them provide the convenience of paying in crypto.
At the same time, the increasing number of gold merchants realise the potential of cryptocurrencies. Not only does crypto emerge as a payment method for gold more often, but also the gold markets increasingly integrate blockchain technology. Thus, some platforms offer tokenized gold, which represents physical gold and can be easily traded or converted back into physical gold or other assets. The tokenization of gold combines the stability of traditional assets with the traceability of blockchain transactions. Tokenized digital gold also allows for fractional ownership and easier divisibility of the asset.
Platforms that facilitate gold purchases with cryptocurrencies enhance the liquidity of digital assets, providing a straightforward way to move between asset classes even in jurisdictions where crypto cannot be directly used for shopping or investments. We’ll discuss some of them in detail.
American Gold Exchange
Operating since 1998, American Gold Exchange is one of the leading national precious metals and rare coin companies. It offers both dealer-to-dealer trading services and retail gold sales. The dealer provides a fine selection of gold, silver, platinum, and palladium coins and bars. The company has a good public standing too, with numerous reviews praising both the customer service and the quality of purchased metals.
AGE accepts online orders up to $50,000 per order cycle, which may be paid in full by select cryptocurrencies with a 2% processing fee added. At the same time, the company has established a $15,000 limit for full payments with credit cards along with a 4% processing fee. Thus, paying in full with crypto here actually comes with better terms. Besides, you can also use crypto to cover the price of a telephone order which can be higher than $50,000.
Crypto payments are processed through BitPay, which supports most of the major cryptocurrencies, whether altcoins or stablecoins. Currently, the firm accepts the following crypto: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC), Shiba Inu Coin (SHIB), and five USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).
Bullion Exchanges
The New York-based dealer offers not only ever-popular gold and silver but also other metals with growing popularity like platinum and palladium. The firm has a dedicated website and a physical retail store located in the Diamond District of New York City. With 10+ years of experience, Bullion Exchanges have received plenty of positive feedback. However, one shouldn’t ignore a fair share of complaints on delivery delays or even order cancellations a customer may encounter while dealing with this company.
Nevertheless, at Bullion Exchanges, you can purchase gold with Bitcoin. Simply select your desired gold product, proceed to checkout, and choose Bitcoin as your payment option. The function is powered by BitPay. You can complete the payment by either scanning the QR code with your Bitcoin wallet app or manually entering the displayed Bitcoin address and exact Bitcoin amount (BTC), to send the payment to Bullion Exchanges. According to the company’s website, when you buy precious metals with Bitcoin, you receive a 1.5% discount off the credit card price, paying a lower premium.
JM Bullion
JM Bullion is an online retailer that supplies individual investors with physical gold, silver, platinum, and copper products. Based in Texas, the company deals exclusively with physical bullion, delivering gold items to your doorstep. The provider claims the majority of its bar and coin products are shipped fresh from the mint.
To buy gold products with crypto at JM Bullion, you should visit the JM Bullion website and choose ‘BitPay’ as your payment method at checkout. Bitcoin is accepted on orders from $299 to a maximum of $250,000. Payments are made directly from your crypto wallet using Bitcoin, Ethereum, Litecoin and other popular cryptocurrencies. JM Bullion accepts crypto from over 100 different wallets.
SD Bullion
SD Bullion is one of major online gold and silver bullion dealers in the United States. The company also serves platinum coins and bars as well as copper coins and rounds, as well as gold and silver jewellery and gold cards. The dealer serves retail customers, IRA accounts, and precious metal depositories. SD Bullion also offers customers the option of precious metal storage. The company has been in business since 2011 and offers a good-quality customer experience. JM Bullion accepts numerous payment options, with Bitcoin being one of them for orders up to $500,000. Moreover, you can get a 3% discount if you use crypto to pay for the purchase here compared to the credit/debit card price.
Bitgild
At bitgild.com one can purchase physical gold and silver bars and coins with Bitcoin, Ethereum, stablecoins and altcoins. This precious metal dealer is based in Europe, enabling gold deliveries across the EU and the UK. The firm is dedicated to the security of gold deliveries, providing a videotaping material of the entire packaging process. The valuable packages are also encrypted with a secret code that contains the weight of the package. You will receive the code after shipment to check that everything is correct upon arrival.
In addition to accepting various cryptocurrencies, Bitgild also supports transactions across multiple blockchain networks. Customers can choose the network with faster transaction times, lower fees, or specific security features and receive the same smooth and hassle-free payment experience across different blockchains. The payments are facilitated by decentralised methods like BTCPay and Omotix (the firm’s self-hosted crypto gateway). The fees for purchasing gold depend on the cryptocurrency you are paying with. They may range from 0.6% for BTC to 8% for different crypto currencies received through Coinpayments.
Bitrefill
Bitrefill is not a typical gold dealer. Instead the firm offers services of topping up mobile plans and buying gift cards with crypto. The website contains plenty of offerings from gold and silver jewellers, enabling customers to fund their jewellery purchase with cryptocurrencies indirectly. The platform operates internationally, so you can find gold jewellery gift cards from retailers in India, UAE, and other countries where gold is king.
At Bitrefill, you can purchase gift cards using a variety of cryptocurrencies including Bitcoin, Lightning, Lifi, Ethereum, USDC, USDT, Binance Pay, Litecoin, Dogecoin or Dash. Some of the most popular crypto wallet and exchange options supported by the platform include Binance Pay, Coinbase, Kraken, Trust Wallet, Bitfinex, Blockchain, Edge, KuCoin, Ledger, Strike, Bitstamp etc.
Crypto Emporium
Crypto Emporium is another alternative to bullion and gold bar sellers. The firm focuses on gold jewellery and luxury watches from elite brands like Rolex and Cartier that are also popular among precious metal investors, as more convenient and practical items.
Crypto Emporium entirely focuses on selling products for Bitcoin and a few altcoins, making its prices lower than at other stores that primarily sell items for fiat. Besides, the firm ships gold and silver goods to more than 120 countries worldwide, which is a great advantage. Finally, Crypto Emporium’s rewards program gives customers points for every purchase that you can later redeem for the platform’s native cryptocurrency — Emporium Cash.
APMEX
Despite a fair share of criticism that comes from customer reviews, APMEX remains one of the leading gold dealers on the web, with a diverse gold bullion coins, bars, and rounds selection. The platform also offers silver, platinum and palladium products.
The dealer supports various payment methods, including crypto, like Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Polygon, and several stablecoins like USDC and USDP. APMEX ships gold items to more than 30 countries, including the US, Canada, several EU countries, Switzerland, Hong Kong, Israel, Mexico, Australia, and New Zealand. You can use Bitcoin and crypto to make purchases up to $400,000 per week.
If you wish to pay for your order with cryptocurrency as your payment method, select “Cryptocurrency via BitPay” during checkout and submit your order. You will get an embedded BitPay invoice to pay within 15 minutes. The firm recommends using a Payment Protocol-compatible spending wallet for the transaction.
Mene
Mene is a marketplace for 24K gold and platinum jewellery. The items presented for investment here are mainly made of solid precious metal, without gems and diamonds. At the same time, the jewellery can be customised with engraving. Each piece is sold by weight, plus a design/manufacturing premium, about 30% of the total item’s value. To keep track of the collection’s real-time value, customers can use the firm’s intuitive dashboard. Gold buyers can also exchange or sell the item back to Mene for its precious metal value minus a 10% fee.
The dealer cooperates with BitPay for crypto support. To pay with BitPay, select it at the checkout, and click the ‘Pay now’ button. Then open the BitPay app on your device and scan the code that appears on the screen to open and confirm the payment in your wallet. The firm ships items to dozens of countries worldwide.
