As one of the oldest commodities in history, precious metals like gold and silver have been and likely will continue to be incredibly desirable. Now, you buy gold with a (slightly) newer commodity: Bitcoin (BTC).
If you’re looking to hedge the volatility of crypto or grow your collection of precious metals and coins, BitPay has created this helpful guide on buying gold with Bitcoin, Ethereum and other cryptocurrency.
Why Buy Gold with Bitcoin?
While Bitcoin and other crypto have seen explosive growth since its introduction in 2009, gold bullion has consistently risen in value for centuries. Gold may not always outperform other investment vehicles, but there are several reasons it’s consistently used as a hedge against volatility. Gold is valued across the globe. It holds value even while political and financial uncertainty exist. And similar to crypto, it has an extremely liquid market in which gold can be exchanged for fiat.
Using cryptocurrency to buy gold presents a few unique benefits over traditional payments:
- No banks necessary: buy gold without using a bank or money transfer account
- Speedy transactions: transactions can be processed in seconds (speeds vary by crypto used)
- No tricky exchange rates: Regardless of where you reside or where the gold dealer is located, make transactions across borders without currency conversions
- Low fees: Forget wire fees - pay a low, transparent fee when buying gold with crypto
- Secure: Paying with crypto is safe without common risks associated with credit cards
How to Buy Gold with Bitcoin and Cryptocurrency
There are two ways you can use your cryptocurrency to pay for gold and precious metals:
- Buy directly from reputable gold and precious metal retailers that accept crypto.
- Sign up for the BitPay Card to spend your crypto like cash.
Buy Gold & other precious metals with crypto direct from retailers
Several reputable gold and precious metal dealers partner with BitPay to accept Bitcoin and cryptocurrency. The sales process is as secure and easy as any other payment method.
If you’re ready to buy gold with crypto, visit one of these trusted gold retailers that accept Bitcoin and crypto.
- American Gold Exchange
- Best Bullion
- Bullion Exchanges
- Global Vault Group
- JM Bullion
- Provident Metals
- SD Bullion
- Sharps Pixley
- Treasure Island Coins
How to Buy Gold With Crypto from a Reputable Dealer
- Ensure you have a crypto wallet that is supported by BitPay. BitPay supports over 100 of the most popular wallets like Trust Wallet,Trezor, Ledger, Exodus, plus exchange-based wallets like Coinbase, Binance and Kraken. Don’t have a wallet? Setting one up is easy!
- Find the gold, silver, platinum or other precious metals you’d like to buy. Add to your cart on the dealer's website.
- At checkout, choose BitPay as your method of payment.
- Select the wallet and asset you’d like to use to pay for your gold or precious metal.
- An invoice will be generated. Scan the QR code or copy and paste the payment details into your wallet.
- You will receive your purchase registration from the dealer exactly as you would with any other payment method. You will see your transaction processed from your crypto wallet. Congratulations! You’ve just purchased gold with crypto!
Buy Gold with Crypto Using the BitPay Card
The BitPay Card works like any other debit card. However, instead of funding the card with your bank account, you fund it from your preferred crypto wallet. Use the BitPay Card to buy gold bullion from any dealer that accepts MasterCard. This method may be right for you if your purchases will remain under the card’s spending limits or you’d like to fund ongoing purchases with crypto.
How to Buy Gold with Crypto Using the BitPay Card
- Download the BitPay Wallet app for Android or iOS.
- Sign up for the BitPay Card. Get approved in minutes with no impact to your credit.
- Find gold, silver, platinum or other precious metals you’d like to buy.
- Add funds to the card through the BitPay App.
- At checkout, use the BitPay Card like any other debit or credit card.
You can continue to use the BitPay Card to pay for gifts, travel, treat yourself, and live on crypto! Ready get the sign up for the BitPay Card? Download the BitPay app to get started.
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FAQs About Buying Gold with Crypto
What cryptocurrency can I use to buy gold?
In addition to buying gold and silver with Bitcoin (BTC), BitPay and its trusted retailers support Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu Coin (SHIB), Litecoin (LTC), XRP (XRP), Polygon (MATIC), ApeCoine (APE), Dai (DAI), Binance USD (BUSD), USD Coin (USDC), Wrapped Bitcoin (WBTC), Pax Dollar (USDP) and Gemini Dollar (GUSD).We are continually evaluating and adding new coins to support.
What precious metals can I buy with crypto?
The most popular precious metals include gold, silver, platinum, and palladium. You can buy pressed coins, bullion, and bars.