Buy Gold With Bitcoin
Bitcoin has become a popular investment vehicle for those looking to hold a diversified portfolio. It’s surprising surge in value since 2016 has given many investors a healthy amount of liquidity they never expected. Those who have made a surprising profit should consider getting out while the going is good and buying something with more tangible value – something like gold, silver or platinum. Holders of Bitcoin are encouraged to explore the selection of precious metals on offer at SilverGoldBull.ca. We accept Bitcoin and guarantee quick transaction time and a home delivery service that puts your convenience above every other concern. Buying gold with Bitcoin has never been easier than with SilverGoldBull.ca.
What is the Story with Bitcoin?
Bitcoin is a relatively new currency created in 2009 by an unknown coder under the alias ‘Satoshi Nakamoto’. The currency is deregulated and decentralized, meaning there is no middleman overseeing a transaction from one party to another. It also means there are no fees attached to a transaction, nor any ability to hide or cancel a transaction from appearing in the ledger once it has been approved.
So How Does Bitcoin Work?
Bitcoin operates through a vast network of interconnected computer nodes. The network infrastructure underpinning Bitcoin is known as the blockchain, and it records all recent Bitcoin transactions in a public ledger, updating the price of Bitcoin every 15 minutes. Anyone can earn Bitcoins by setting up a computer to mine for blocks and add them to the blockchain, or search for other blocks to combine with. When it comes to payment interactions, relative anonymity is preserved in that the transaction shows up as a series of numbers in the blockchain. This makes it a popular currency for investors to use who would rather remain anonymous in their spending.
The Bitcoin structure is a departure from the traditional banking model, which has always been tightly monitored (and monetized) by financial institutions. Bitcoin is easy to join, easy to use, and currently represents a great way for small-scale investors to make a nice return without having to put their hard-earned Canadian dollars on the line.
The Rise of Bitcoin as an Investment
Bitcoin has become quite lucrative in the speculative market since 2016. In fact, today it is the hottest investment topic on the market. This is no surprise, given the number of transactions per month has grown steadily since its inception in 2009.
However, the price of Bitcoin has been anything but steady. On January 25th, 2016, one Bitcoin was worth USD $382.62. Less than two years later, on November 20th, 2017, one Bitcoin is worth $8264.87. Current prices as of December 1st have Bitcoin well over USD $10,000!! That is an extreme profit, but also indicative of wild inflation that has plagued the stock price.
All we know for certain is that the future of Bitcoin is unknown. As such, it remains a tremendously volatile stock to hold. Bitcoin can be your vehicle to gather immense amounts of gold while the Bitcoin value is still high. Buy gold with Bitcoin and give you & your investment portfolio some priceless peace of mind.
The Different Uses of Bitcoin
Bitcoin can be used like any other legal tender in circulation today. People use Bitcoin for:
Everyday Expenses. Some regular business establishments will accept payment via Bitcoin, so it’s possible to do your shopping with the cryptocurrency. One of the reasons Bitcoin is not popular in the mainstream yet is that only a small portion of businesses accept Bitcoin. SilverGoldBull.ca is one of those businesses.
Investing. Bitcoin can also be used as an investment vehicle. Given its anonymous nature, investors have taken pleasure in using Bitcoin to spend across the market. A popular investment technique is to use profits made from Bitcoin to invest in other, more stable commodities. For instance, many traders are turning their surprising Bitcoin profits into physical gold. Buying gold with Bitcoin is an intelligent way to turn market volatility into your long-term advantage.
Cheap Money Transfers. Sending money has never been a cheap affair. Financial institutions like banks, credit card companies, and commercial software companies charge much more fees than Bitcoin in order to send money. This has important implications for international money transfers, which are often subject to the highest fees and the longest transaction time. With Bitcoin, the transaction cost is minimal, and the transaction time is nearly instant. At SilverGoldBull.ca, buying gold with Bitcoin does not entail any additional costs (other than standard fee you can set as the holder of Bitcoin).
Can I Buy Gold with Bitcoin?
It is possible to buy gold with Bitcoin here at SilverGoldBull.ca. We offer an easy payment system that simply requires you to have a Bitcoin wallet. All you must do is select "Cryptocurrency via BitPay" at checkout, and follow the prompts on the BitPay window after placing your order. Many top investors agree buying gold with Bitcoin is a wise long-term investment decision.
Does Buying Gold With Bitcoin Take Longer to Purchase with than Regular Currency?
It is much easier to buy gold with Bitcoin than it might seem. The process is broken down into a few steps, but when these steps are finished, the transaction goes through easily. At SilverGoldBull.ca our Bitcoin transaction time is faster than paying with regular currency. We guarantee a clearing time of two business days to ensure authenticity of payment – but with Bitcoin it’s often quicker because there are no institutions holding the payment in limbo. We give two days because we inspect all payments before official approval is given in order to avoid fraudulent activity. This is the same whether it’s via Bitcoin or any other currency.
What Are the Advantages to Buying Gold with Bitcoin?
As mentioned briefly above, there are a few key advantages to buying gold with Bitcoin.
The advantages of using Bitcoin to buy gold include (but are not limited to):
Convenience. All gold purchase transactions using Bitcoin occur online. That means a buyer can place and order whenever they please. Perhaps it is in the comfort of your office or on a cruise ship in the Bahamas. Customers also benefit from a single universal currency evaluation. With Bitcoin, there is no longer a need to worry about currency fluctuations, and that’s a big convenience for international customers.
No Transactional Fees. Customers paying with Bitcoin pay lower transaction fees for purchases. Bitcoin transaction fees do exist, but they are proportional to the amount being sent. The transaction fees have historically been lower with Bitcoin than with credit intuitions like Visa or software applications like PayPal. However, the recent surge in value of Bitcoin has generated an increase in the transaction fee, and it is unclear whether the price will ever get as low as it used to be. It is just another indicator that buying gold with Bitcoin makes more sense now than ever.
Transactions Happen Overnight. The speed of a Bitcoin transaction is quite convenient. Often customers wait 3-5 days for a transaction of any substantial amount to be validated by the financial institution. With Bitcoin, it can happen overnight.
The Question of Scale. Bitcoin has more value now than ever before, which means it’s potency as an investment tool is greater than ever. Owning three Bitcoins might be small compared with other investors, but you can use it to scale up investments in other areas.
No Hidden Costs. The fact that it’s de-regulated means there is no way for a financial institution to track it, let alone charge you for it.
No Minimum Purchase. SilverGoldBull.ca offers no minimum on Bitcoin transactions. If you are wondering how to buy gold with Bitcoin, exploring our site is a great place to start.
No Maximum Purchase. SilverGoldBull.ca does not place any limits on the amount of gold bullion you can buy with Bitcoin.
Is Bitcoin a Safe Long-term Investment?
General consensus is that Bitcoin is not a safe long-term investment. The volatile history of the Bitcoin stock is just one indication of how it will perform in the future.
In judging whether Bitcoin is a safe long-term investment or not, it’s important to consider two major trends:
Will De-Regulation Continue? As we have seen with the rise in transaction fees, it’s clear that Bitcoin has a long way to go before it stabilizes. No government is going to allow a de-regulated financial system to exist for very long, so investors should expect to see clampdowns on the cryptocurrency as it grows its user base. De-regulation will not only limit the expansive capacity of Bitcoin – it will also make it subject to the same fees and oversight as any other financial institution. This is a positive development for the thousands of Bitcoin users who have experienced theft or blackmail from criminals taking advantage of the de-regulated environment. Grave security threats of this nature will only be dealt with through more security & control.
How Long Will Bitcoin Remain Speculative? The speculation market is the driving force behind Bitcoin’s recent surge in value. The logic of speculative investing is relatively sound: as more people start using Bitcoin, it’s overall value will rise because more Bitcoin blocks will exist. The concern for you, as an investor, is when to cash in on your profits. There will probably not be another major speculative bubble like there is now, so either you wait it out and hope the value of Bitcoin will rise even more in the long-term, or you take most of your profits and diversify your portfolio today. If you are wondering how to buy gold with Bitcoin, scroll through our site for Bitcoin payment FAQs.
Will Bitcoin Replace Gold as Long-Term Investment of Value?
It is unlikely that Bitcoin has the same staying power as gold. On the one hand, there are several risks and disadvantages to Bitcoin that are simply not present with gold. Bitcoin is, after all, a form of currency, whereas gold is a resource & a true form of money. This is a major difference when it comes to projecting future value, as Bitcoin is far more likely to level out as it becomes more standardized. Gold, on the other hand, has so many different use-values that it will always be sought-after in many different directions.
Aside from being a resource, gold has many positive attributes that Bitcoin simply does not have:
It’s a Finite Resource, So It Will Always Be Valuable. Until humans find a way to clone gold, the precious metal that exists in the earth will remain the most coveted finite entity on the planet. The lack of supply drives profit in ways that Bitcoin cannot compete with. The inflationary issues with Bitcoin are the same with every other currency in the world. If the market is going through a lull, governments print more money to stimulate the economy. This creates a cycle of deficit spending and inflationary pressure. Bitcoin will be no different because it is, in theory and practice, an infinite resource. While the Bitcoin community states there are only 21 million blocks in existence, there is no reason to believe more cannot be created.
Gold Improves in Value During Inflationary Periods. Unlike Bitcoin, gold is not a currency. That means it is not subject to the same inflationary pressures. In fact, gold has proven to be quite robust in times of economic strife, as investors flock to it as a protection from currency fluctuations. It is not clear that Bitcoin will ever be as stable an investment option as gold because, as a currency, it will come to be just as volatile as the dollar.
Gold is Risk Averse. Aside from its robust tendencies during inflationary periods, gold is a risk-averse investment. Why? If you choose to buy gold with Bitcoin, you are swapping something intangible for something tangible. Bitcoins gain their value relative to every other form of currency. That is to say, they have more of a conceptual value than a physical value. Gold, on the other hand, has a concrete value that has existed since the dawn of civilization. The market could crash and burn, but your gold would still be worth quite a bit.
How Should I Spend My Bitcoin?
Using profits made from Bitcoin to diversify your portfolio is an intelligent investment decision. Chances are most of your portfolio is taken up by your Bitcoin collection at this point. That’s not a bad thing by any means, but it should not stay this way for long. Given the volatility of this cryptocurrency, it’s best to keep only 10% of your investments in Bitcoin. Here are some insightful suggestions for where to spend the rest:
Buy Gold Coins with Bitcoin. Gold bullion should represent 15-20% of your entire portfolio, and that could be gold bars, coins, or jewelry. With only a few Bitcoins, you can be the owner of rare gold coins from across the world. If you are wisely deciding to buy gold coins online, it has never been easier than through SilverGoldBull.ca.
Buy Gold Bars with Bitcoin. Gold bars are another excellent investment opportunity because they are cheaper than gold coins but have the equal staying power. Purchasing gold bars online is the best way to plan for your future. Much like property, you can bet on gold to be worth more in 20 years than it is today. Why? Because currency inflation means the same amount of gold will be worth more than the same currency.
Check the Gold Spot Price. Keep in tune with daily changes to the gold spot price at SilverGoldBull.ca. We accept Bitcoin payments and will deliver right to your door. Choose between our broad selection of gold bars, gold coins and gold bullion jewelry, and start putting that Bitcoin to use! Don’t forget that SilverGoldBull.ca offers a 4% cash discount on all purchases.
Should I Diversify My Portfolio with Gold?
The historical trajectory of Bitcoin marks it out as a typically inflated stock. If many people start using the peer-to-peer network for regular payments, the amount of coins produced in this process will match the increase in demand, thus dropping the overall value.
Given the amazingly over-valued price of Bitcoin today, now is an excellent time to diversify your portfolio and buy gold with your Bitcoin. The trajectory of gold prices is one that can be understood and projected quite accurately. Such a thorough knowledge of the Bitcoin price is simply not possible because there are so many variables at play. Also, as Bitcoin continues to put pressure on other currencies, the price of gold will only go up. To put it simply: you are given the opportunity to capitalize on the affordable price of gold while also converting your Bitcoin profits in one transaction. This is an excellent way to expand upon an advantage that’s already in your favour!
Where Can I Track Bitcoin Prices?
The price of Bitcoin is listed at sites like Coindesk.com. At Coindesk, you can see how sharp the rise in value has been over the past year, and begin calculating how many ounces of gold you can buy with your Bitcoin.
What is a Bitcoin Wallet?
A wallet is any mobile or desktop application you use to hold your Bitcoin. The ‘Bitcoin Wallet Page’ has a thorough list of applications for your convenience. Once you have installed an app you will receive a Bitcoin location address and a password. Both will be needed to buy gold with Bitcoin at SilverGoldBull.ca.
The Predictable Future of Gold
Gold is always best observed in terms of long-term movement. Like any commodity on the market, gold will go through daily ups and downs in value. It will never go through such a sharp rise (or fall) as witnessed with Bitcoin because it is so dispersed through the market. Analysts can project how much gold will be mined in each year, how much bullion will be purchased by central banks, and how much jewelry will be sold across the globe. Analysts can also project that when the dollar is weak, the price of gold will go up. This fundamental comparison is what analysts use to project the future price of gold – and you can do the same. To buy gold online with Bitcoin is a smart approach to counteract the unpredictability of Bitcoin stock over-hype.
The Unpredictable Future of Bitcoin
There are so many potential roads Bitcoin could take that many investors are getting cold feet about it. Here are a few reasons why:
Drastic Price Fluctuation. The price of Bitcoin has fluctuated wildly since its creation, far more than the average stock. Drastic fluctuation makes investors anxious and unsure as to what their next move should be. While it can make you tons of money, you can also lose a significant amount if you’re not careful.
Identity Theft Risk. Transaction amounts and locations are recorded permanently in the Bitcoin chain. While your transaction number is relatively ‘anonymous’, it would not be difficult for a hacker to follow your transaction history and steal your encrypted personal information, meaning there is a major security threat at play.
No Buyer Protection. Every payment is irreversible. This is an ideal environment for hackers and fraudulent activity. While Bitcoin offers tips to avoid getting hacked, they offer nothing by way of compensation. It’s a risk you must be willing to take.
The sage advice of many investment bankers today would be to sell off some of your digital Bitcoin currency and buy gold with Bitcoin instead.
How to Buy Gold with Bitcoin
If you are interested in buying gold with Bitcoin, SilverGoldBull.ca is your finest resource. Once you have a wallet with sufficient Bitcoins, simply scroll through and select the type of gold you prefer. When you know which type of gold bullion you want to buy, simply select Bitcoin as the payment method and follow the prompts. Just remember to finish your transaction within 10 minutes, otherwise the price of Bitcoin will no longer be valid. Once the transaction has gone through, you can expect a parcel of solid gold to arrive directly to your doorstep. Buying gold with Bitcoin has never been easier!
Buy Gold with Bitcoin
SilverGoldBull.ca is an excellent platform for you to cash in your Bitcoin. With so few businesses accepting Bitcoin today, and the future of Bitcoin up in the air, now is the time to convert some of your virtual profits into long-lasting material gains. Buy gold with your Bitcoin and prepare for a safe long-term investment strategy. To learn more about how to give yourself the true, genuine peace of mind that only comes from investing in solid gold, visit the SilverGoldBull.ca blog today.
Buy Gold and Silver With New Cryptocurrencies
Since Bitcoin’s incredible rise, the number of competing and spinoff cryptocurrencies has only increased. Gold dealers are racing to let customers buy gold with Bitcoin Cash, Ethereum, LiteCoin, and Dash. Some “altcoin” cryptocurrencies have been around for years, while others are only months old. Cryptocurrencies across the board have not only been gaining value thanks to Bitcoin, people are more aware of their options now. With more people using new cryptocurrencies, SilverGoldBull.ca has introduced ways to buy gold and silver with Bitcoin Cash, LiteCoin, Ethereum, Ethereum Classic, and Dash.
Buy Gold with Bitcoin Cash
As cryptocurrencies become more popular, SilverGoldBull.ca has made buying gold and silver with Bitcoin Cash with easy. Bitcoin Cash is a fork of Bitcoin that started in August 2017. To understand why Bitcoin Cash was created, first you need to look at some of the issues Bitcoin faced leading up to the fork. Cryptocurrencies depend on blockchain miners. In addition to mining for blocks, miners have to add pending transactions to the blockchain before it’s verified and a transaction goes through. As Bitcoin transactions moved from thousands of transactions a year to millions of transactions a year, transaction times took longer and Bitcoin users started paying higher transaction fees to miners to get priority. As more and more people began using Bitcoin as a currency, including buying gold with Bitcoin, scalability became a big problem. The bottleneck was caused by the size of blocks, fixed at 1 MB. Bitcoin Cash changed the size of blocks to 8 MB to speed up transaction times. As long as Bitcoin miners charge higher fees for faster transactions, it will be cheaper to buy gold and silver with Bitcoin Cash.
Buy Gold with LiteCoin
LiteCoin is one of the older cryptocurrencies out there, but only recently have you been able to buy gold and silver with LiteCoin. When it was launched in 2011, it was described as “the silver to Bitcoin’s gold,” and now buying gold with LiteCoin is possible from SilverGoldBull.ca. Like Bitcoin, it’s a peer-to-peer currency that requires no intermediary to process payments. LiteCoin enjoys faster transaction speeds than Bitcoin. It also has a higher stated supply. Creator Charlie Lee has said that the maximum available number of LiteCoins is 84 million compared to Bitcoin’s 21 million. But as a digital currency, it remains to be seen what happens when miners reach that cap. If you thought Bitcoin’s rise has been incredible, you should look at LiteCoin. Investors are worried about LiteCoin’s sustainability and many are buying gold and silver with LiteCoin to protect their portfolios. By the end of 2017, LiteCoin had seen a return of over 4,200%.
Buy Gold with Ethereum
On December 19, 2017, Ethereum made headlines by breaking one million transactions in 24 hours and it’s the first cryptocurrency to pass this benchmark. If you value your privacy, buying gold and silver with Ethereum is a great idea. Ethereum was designed as more than just a currency, it was designed for developers to create apps that don’t store your data on third-party servers. Ethereum uses innovative blockchain technology to replace third-party servers that store data and financial transactions – such as the credit card info you save to shop on mobile apps or when buying gold with Ethereum. It’s ideal for investors who don’t want their gold transactions to fall into the wrong hands. Ethereum is designed to give control over data back to users. You can now buy gold and silver with Ethereum without worrying that your transaction information will be intercepted by a hacker or government.
Buy Gold with Ethereum Classic
Can you also start buying gold with Ethereum Classic? You can on SilverGoldBull.ca. Ethereum Classic is the result of a split in the community working on Ethereum after a hacking incident let an unidentified individual move funds held in “ether” from one organization to another. While the majority of Ethereum investors voted to change the code to restore the funds, another group insisted that the blockchain technology had to remain free of censorship and interference. When Ethereum updated its technology to restore funds to investors, one group continued to use the old technology and became Ethereum Classic as a parallel blockchain. Despite the split, you can still buy gold and silver with Ethereum Classic. While Ethereum Classic has seen major gains compared to USD, its price compared to Bitcoin has struggled to keep up. It may be a good time to start thinking about buying gold and silver with Ethereum Classic.