Note that the companies I'm listing are just some I looked up. Dunno if they have good reputation and they actually do what the information says about them. Found a few, vaultoro included in them
GoldSilver Company, HQ is in NYC and ships to most countries. There's also MoneyMetal, HQ is at Eagle Idaho and Ships to most countries as well. If you're only buying small amounts, SDBullion since they offer one of the lowest order minimums out there, and has free shipping. Though based on what I read, the lowest order minimum they have needs you to buy it in US.
Thank you for this. I'll be doing my due diligence.
Is this something related to how money works previously? When Fiat is backed by gold in a safe, and it should be 1:1 or something like that of value?
I searched this on the web and found PAXG. Paxos Gold and it's said that it's backed by gold.
[1]Basically, for me, this would be the case. You are going in for another middleman who is currently holding the actual gold, and you deposit the BTC. I'm not sure how they would account for the fluctuating price of BTC. But since it's a token, it's not directly correlating to the price of BTC. Like an ounce of that would amount to a certain PAXG amount.
With that, I don't like the idea that my BTC would be converted to another currency.
[1] -
https://www.coindesk.com/paxos-launches-gold-backed-cryptocurrencyI'd like physical gold , not a token. Unless of course , you can change the token directly into gold itself. I'll be doing my due diligence. Thanks for this.
Reality is that davis is right, you can't just send a company bitcoin and expect them to deliver gold to you, first and foremost there are international laws that bans movement of gold from one nation to another that easily, usually it takes a lot of customs to go through and 50% of them fail, you have to have a properly managed company that deals with such stuff on an international level already to go into crypto for something like that and I am afraid that doesn't exist right now.
Definitely, you could deal with just fiat transactions that is equal to gold, so a company holding gold for you but whenever you want to cash out they sell their gold in their nation and pay you the fiat equal price for it? That would be easier to handle at least and would be doable.
Thats disappointing. I'd like my gold sent overseas but if the governments have a problem with what i'd like to do , then we will have issues. Disappointing how laws and regulations slow commerce
To the OP, to my knowledge there is not investment firm or exchange that deals in cryptocurrency AND precious metals. There should be, but there isn't.
What's your investment scheme? How frequently do you plan to trade? If your base currency is USD there's not much difference then having two separate trading accounts (one for crypto and one for precious metals) where you're investing and divesting based of that USD base currency. Give it a thought. PM me if you want to chat more about it.
That's an interesting niche but i imagine with the volatility in Crypto markets , most people do not want to deal with this as the Price fluctuations would be a hassle especially with dealing with physical gold.
I mostly would do trades when BTC has risen in price as a hedge against Crypto and other financial markets. If China does enact their own gold backed cryptocurrency , then having gold to me would be a good hedge against USD Fiat currency.
We should connect. I'll contact you in PM. Thanks Myfe!
I've seen this website that lists the three websites where you can buy gold with bitcoin.
https://www.smartbitcoininvestments.com/buy-gold-with-bitcoin/However, I agree to this
So you are expecting to send BTC to some "company's wallet" (non-reversible transaction) and wait for them to send you real gold with some shipping/delivery system?This is a really scam-friendly business model and nobody would risk his bitcoins in such transaction.There's no company that can possibly build such level of trust,so people could safely send their bitcoins and expect real gold to arrive at their doors.
@OP you should consider what he said.
I'm assuming that there is form of escrow for this transaction and all transactions like it to ensure the delivery of physical gold , but with the laws and regulations , this might be a problem for me.
