Can we Buy Gold with Bitcoin?


Buying Gold with Bitcoin is Possible Now

Bitcoin itself is often referred to as digital gold, but you can also buy real gold. There are many websites and companies that sell a variety of precious metals. If you feel that bitcoin is likely to be depreciating, converting some of it to gold is also a sound hedging strategy.

According to CCN, a cryptocurrency specialty media on the 11th (local time), the global cryptocurrency payment system BitPay was established by APMEX, a global precious metals retailer, and Sprott, an alternative asset manager. Together with Gold (OneGold), we have created a market where you can buy precious metals with the cryptocurrencies Bitcoin (BTC) and Bitcoin Cash (BTC).

Yes,  buy gold online with bitcoin. A lot of new Online Shopping Sites are now Accepting bitcoin for the payment against items like Gold Jewellery etc.

Why Invest in Gold with Bitcoin?

The gold price hit an all-time high at 8,100 won per gram on July 28. The current August gold price is around 70,000~75,000 won per gram. Because of the unstable economic situation due to Corona 19, people were crowded into gold, a representative safe asset. In addition, the news that Warren Buffett, the master of investment, recently invested a large amount of money in a gold mining company, and interest in gold is pouring out. There have also been many people who want to invest. However, not many people know how to invest in gold. In investing in gold buy using bitcoin will be the best options, there are many things to know, such as fees, VAT, and taxes on market capitalization.

According to OneGold, the focus is on combining the key benefits of physical gold and silver with the benefits of blockchain-based digital assets. In Wongold, you can pay with cryptocurrency, fiat currency, or two currencies.

Accordingly, Ken Lewis, CEO of Wongold, said, “Purchasing gold through bitcoin and bitcoin cash can increase transparency and efficiency. Under the circumstances, the cryptocurrency payment method will receive a positive evaluation.”

On the other hand, you can actually buy gold through a blockchain-based specialized gold exchange. DGE (Digital Gold Exchange), which recently developed TMTG coin (The Midas Touch Gold), a gold-based cryptocurrency, announced that it will launch DGEx, a platform that can be exchanged for real gold within December.

According to DGE, DGEx is an online exchange where TMTG coins can be traded for real gold (Gold) and digital gold (MDG). After purchasing MDG tokens, you can convert MDG to real gold.

A DGE official said, “DGEx is a blockchain platform that prioritizes system stability and transaction stability through a supply contract with Korea 3M Gold Exchange.” “We have applied for a number of applications, and we will prepare an average of 5% of the total amount of TMTG coin issuance as a reserve ratio to prove the value of the digital asset TMTG coin like a real bank.”