How to Sell Bitcoin For Gold (Updated For 2024)
At a Glance:
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- As Bitcoin’s price drops, gold offers an exit opportunity to cryptocurrency investors.
- The easiest way to sell Bitcoin for gold is to buy gold using BitPay, a crypto payment platform.
- Hero Bullion sells gold for Bitcoin to help investors diversify their better portfolios.
How to Sell Bitcoin For Gold
Bitcoin prices are down. Following an incredible bull run at the beginning of 2024, the cryptocurrency dropped 5% yesterday. Some experts say Bitcoin will continue to fall ahead of news from the Federal Reserve, which will soon make a decision on the federal interest rate.As the market takes a turn for the worse, many investors are turning to gold as part of their cryptocurrency exit strategy.
Bitcoin itself has been called digital gold because of its scarcity and perceived intrinsic value. While the metal tumbles below its $60,000 support line, it makes sense that some investors would trade their digital gold for the real thing.
Selling Bitcoin for gold is simple, easy to do, and could be an excellent way to diversify your investment portfolio. Today’s guide is all about trading digital gold for real gold bullion coins and bars. Many dealers, including Hero Bullion, accept cryptocurrencies like Bitcoin as payment for gold products. Wondering how to sell Bitcoin for gold? We’ve got you covered!
Is it Easy to Buy Gold With Bitcoin?
The easiest way to sell Bitcoin for gold is to buy gold with Bitcoin directly. Using cryptocurrency to pay for physical gold can cut down on transaction fees while still giving investors access to quality gold coins and bars. Many online gold dealers now accept Bitcoin as payment for physical gold products, so it’s never been easier to exchange digital gold for real gold bullion items.
Buying Gold With Bitcoin – Step By Step Guide
To buy gold with Bitcoin, you’ll need to do three things:
- Find a gold dealer who accepts Bitcoin
- Choose your favorite gold products
- Check out using a cryptocurrency payment processor.
Selling Bitcoin for gold is simple, safe, and an effective way to protect your portfolio using a historically stable safe haven asset. Hero Bullion accepts Bitcoin for gold, and we do so using one of the most secure and effective cryptocurrency payment processors around. Below, we’ll take a closer look at how to sell Bitcoin for gold.
Step One: Find a Gold Dealer Who Accepts Bitcoin
To sell Bitcoin for gold, you’ll need to find a gold dealer who accepts Bitcoin as payment. Trying to trade Bitcoin for gold can be risky, unless you choose to do business with a reputable, established gold dealer. Here’s the good news: many online bullion dealers now accept Bitcoin, Ethereum, and other cryptocurrencies as payment for investment-grade gold bullion products.
Hero Bullion now accepts dozens of cryptocurrencies – including Bitcoin – for gold. By paying with Bitcoin, you can cut down on transaction fees while adding a stable, physical asset to your investment portfolio.
Step Two: Choose Your Gold Bars and Coins
Once you find a dealer who accepts Bitcoin for gold, it’s time for the fun part – choosing your favorite products. Generally, dealers specialize in gold coins, bars, and jewelry. Figuring out which type of gold is best for you can be tricky and will depend on your investment objectives and personal preferences.
Gold bars are the preferred choice of investors whose goal is to save money on premiums. Since they cost less to produce, gold bars are sold at considerably lower premiums over spot price than gold coins or jewelry. Gold coins offer a major benefit, too. Since gold coins are minted with beautiful designs and in limited numbers, they carry numismatic (collectible) value.
A combination of coins, bars, and jewelry is part of a well-rounded investment strategy. Diversifying your gold products is just as important as diversifying the types of assets you stack.
Step Three: Check Out Using BitPay
Gold dealers who accept Bitcoin can employ a variety of different payment processors. Hero Bullion accepts Bitcoin payments for gold using BitPay. For over a decade, BitPay has been a leading provider of payment processing services for companies who accept cryptocurrencies. The platform is safe and extremely easy to use.
To buy gold using BitPay, just select the “Crypto” option at checkout. Follow the on-screen instructions to link your cryptocurrency wallet to BitPay. BitPay works with nearly every major wallet. Once your wallet is linked, you’ll have time to make your payment for the cost of your gold coin or bar.
Paying for gold using Bitcoin is the easiest way to sell Bitcoin for gold. By buying gold directly using Bitcoin, you can cut down on transaction costs and sidestep the struggle of finding a buyer willing to pay for your Bitcoin using gold. Because large online dealers like Hero Bullion now accept Bitcoin as payment for gold, it’s easy to liquidate your cryptocurrency stock in exchange for a historically stable safe haven asset – gold.
Bitcoin or Gold – What’s the Better Investment?
Bitcoin and gold are perceived differently, but they’re actually quite similar. Both gold and Bitcoin are non-traditional investments, and both assets are non-correlated with traditional stock market stimuli. When the global economic environment sours, Bitcoin and gold increase in value as traditional stocks and bonds plummet.
Despite their similarities, gold and Bitcoin offer completely different risk profiles. Bitcoin and other cryptocurrencies tend to be highly volatile. Gold can also be volatile, but only in the short term. As a long term investment, gold is often considered remarkably safe and reliable.
Why Not Both?
Gold’s consistency is why many financial advisors recommend adding precious metals to a risk-heavy portfolio. In other words, you might not need to choose between gold and Bitcoin after all. Instead, smart investors are hedging their Bitcoin bets using pure gold bullion. Since so many online gold dealers now accept Bitcoin as payment for gold bullion bars or coins, it’s never been easier to utilize gold as a counterbalance to risky investments like Bitcoin.
The main difference between gold and Bitcoin is the risk profile of each investment. Gold is risky in the short term but relatively consistent in the long term. Bitcoin, on the other term, is considered volatile in both the short and long term. Bitcoin and gold are both non-correlated assets with high liquidity, but investors can expect to pay a premium when buying gold – and not when buying Bitcoin.
| Gold Bullion | Bitcoin |
|---|---|
| High Short Term, Low Long Term Risk | High Long and Short Term Risk |
| Non-Correlated Asset | Non-Correlated Asset |
| High Liquidity | High Liquidity |
| Premiums Required | Minimal Premium Costs |
By selling Bitcoin for gold, investors can combine gold’s long-term consistency with the high risk, high reward tendencies of cryptocurrency. This strategy falls right in line with the principle of portfolio risk profile diversification. In a sense, gold fills the blind spots created by a crypto-heavy portfolio.
Bitcoin Prices Are Dropping – Is it Time to Hedge With Gold?
Investors looking for a solid exit strategy before Bitcoin’s price crashes even further should consider gold bullion. Gold is a physical, intrinsically valuable asset with a proven track-record of long-term price appreciation. While gold is volatile in the short term, its reputation as a steady performer on a long-term time horizon is unparalleled.
Diversification is one of the best things you can do for your portfolio. At its core, diversification involves investing in assets of varying risk profiles. Bitcoin remains one of the most profitable assets in the world – but it’s also one of the riskiest. High volatility means that cryptocurrencies can swing wildly in value from month to month.
Selling Bitcoin for gold allows investors to diversify the risk profile of their portfolios. Unlike Bitcoin, gold isn’t nearly so volatile – especially in the long-term.
We couldn’t be more excited to accept Bitcoin as payment for gold, silver, and other precious metals. Despite differing risk profiles, gold and Bitcoin aren’t entirely different. Exchanging your digital gold for the real thing might be one way you can hedge your bets in any market.
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About The Author
Michael Roets
Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.