Selling Bitcoin vs. Selling Gold

[headingnorth]

Buying gold is very  easy. But the problem is when it comes to selling. The process of selling gold appears to be much more complicated.
You have to find a buyer...then you have to find a buyer that will give you a good price for it. Good luck with that.

Then you have to deal with the logistics of physically delivering the gold to the buyer, how to receive payment, etc.

You and the buyer have to meet to make the exchange, which can present security issues.
But if the buyer isn't near you then you have to deliver the gold by mail or shipping service.
But does the buyer pay you first? Or do you send the gold to the buyer first? The risk of getting scammed is very high for both buyer and seller.

The risk for the buyer is how does he know he is getting real gold and not fake or diluted gold?

In the US the fastest and simplest method of selling gold is to go into your local pawn shop but who will give you less than half of what its worth and you end up losing a lot of money.

By comparison, bitcoin is extremely quick and easy to sell with a few keyboard clicks on your computer or phone app.

[Findingnemo]

Buying and selling of Bitcoin and gold are completely similar.

The only difference is that Bitcoin is present virtually so you can't feel the presence but buying them can be done in a lot of methods, let's say you register on exchange, complete KYC then funds your wallet then buy BTC then move it to your wallet. Or you can just find someone who takes your money and send BTC.

The process same for selling too, cause there are multiple ways and I bet gold goes through the same category too.

[_act_]

If I have huge amount of bitcoin, I can easily protect it myself without no one knowing about my bitcoin holdings. But if it is gold, it is difficult to protect unless I store it in vault which requires money spending for safe keeping. Unlike a multisig wallet that I can make on airgapped devices which can make my bitcoin backups better. I prefer bitcoin.

[yudi09]

Buying and selling gold is no longer complicated. Gold is physical. I have gold, I can go directly to a shop that accepts buying and selling. In the case of buying, the shop will provide gold (necklaces and rings) depending on the model with the amount of content you want to buy. As proof that I have bought the gold, the seller will make a letter. The complexity lies in my access as a buyer who needs access to transportation. This is what makes it different from buying and selling Bitcoin.

Buying and selling Bitcoin does not require access to transportation as I have mentioned. It can be done in the transaction room as long as there is internet access.

Selling gold usually experiences losses, although not in large amounts, because it is considered that the content has decreased from the content when buying.

[headingnorth]

Buying and selling gold is no longer complicated. Gold is physical. I have gold, I can go directly to a shop that accepts buying and selling. In the case of buying, the shop will provide gold (necklaces and rings) depending on the model with the amount of content you want to buy. As proof that I have bought the gold, the seller will make a letter. The complexity lies in my access as a buyer who needs access to transportation. This is what makes it different from buying and selling Bitcoin.

Buying and selling Bitcoin does not require access to transportation as I have mentioned. It can be done in the transaction room as long as there is internet access.

Selling gold usually experiences losses, although not in large amounts, because it is considered that the content has decreased from the content when buying.

Where do you find a shop near you that will give you  a good price other than a pawn shop (where you will be lucky to get half of the spot price)?

[nakamura12]

Bitcoin is also the same if you sell btc p2p which you may get scam by the buyer unless you use an exchange that supports p2p where your crypto asset will not be released to the buyer if you didn't release btc until the buyer will send the payment. There is indeed a problem with gold if you will receive a real gold if you are the buyer unlike in btc where there's a record in the blockchain. Other difference between gold and bitcoin is you cannot hold bitcoin physically unlike gold where you can wear it. P2P is very risky before until you can do p2p in exchange platform nowadays which increases the chances of p2p transactions being completed.

[coolcoinz]

Buying gold is very  easy. But the problem is when it comes to selling.

As long as you're buying certified gold from a well known place. If we start talking about jewelry it's very difficult not only to get good price, but also to prove that it's real.

If we're talking about bars like 100 or 250 grams, it's very easy to sell. There are buyers in every town that will take it from you and even if you have a lot of it there are places you can contact online that will come to you and pay you. Literally, there are exchanges where you call, say you have, for instance 500g of gold  from e.g. Royal Canadian and they will tell you their price and come pick it up with the money.

Bottom line, when you have certified gold it's very easy to buy or sell it. What is difficult is transporting it. You can't leave the country with 1 kg of hold in your suitcase, but you can leave it with the same value in bitcoin.

[Rruchi man]

Buying gold is very  easy. But the problem is when it comes to selling. The process of selling gold appears to be much more complicated.
You have to find a buyer...then you have to find a buyer that will give you a good price for it. Good luck with that.

I don't know about other countries, but in my country, selling your gold can be relatively easy because there are specific locations where gold buyers are usually gathered, and if you take your gold there to sell and it is legit, the likelihood of you living there without selling your gold is close to zero. There is a level of security, but since it is a physical transaction, you can never guarantee the level of security on it.

By comparison, bitcoin is extremely quick and easy to sell with a few keyboard clicks on your computer or phone app.

Bitcoin can be difficult to sell too, and gold can be easier to sell too in an instance where someone has transacted before with a gold buyer and decides to keep their contacts for future transactions.

[Wiwo]

Buying and selling of Bitcoin and gold are completely similar.

The only difference is that Bitcoin is present virtually so you can't feel the presence but buying them can be done in a lot of methods, let's say you register on exchange, complete KYC then funds your wallet then buy BTC then move it to your wallet. Or you can just find someone who takes your money and send BTC.

The process same for selling too, cause there are multiple ways and I bet gold goes through the same category too.

I was expecting you to finish up your comment with the process of buying and selling gold, since you already analysed how easy it is to access bitcoin and also selling it at the same time, but the truth is that, aside from gold plated guweries I haven't seen real pour gold before, so that shows how unaccessible gold can be compared to bitcoin.

I will still accept statements such as bitcoin being the digital gold, and bitcoin performing the rule of alternative to all traditional old assets in terms of everything scalable.

[Captain Corporate]

I don't know where you live, but both of these things are literally just digital... Why are you finding a buyer that pays good money for your gold? Isn't it digital where you are? Like you guys don't have banks that does this for you? I personally have my bank app in my phone, and my crypto exchange (binance) on my phone too. So for me, exchanging lira to gold, dollars, euro, bitcoin, eth all are same and just requires me to open up the app and do it. There is a set price, usually very good competitive price in all the banks and binance is fine with pricing too, so its all quite good. I don't understand why you think that you need to buy and sell gold physically like old times, we aren't in that age anymore. And even if you did, there are literally gold smiths that buy and sell, in every city, here at least.

[sunsilk]

In the US the fastest and simplest method of selling gold is to go into your local pawn shop but who will give you less than half of what its worth and you end up losing a lot of money.

This is what I am thinking and that's why gold can easily be liquidated but you're not getting the price that you want if they're going to be sold on the local pawn shops. Of course, they have to profit and margin from your gold and that's why their pricing won't be the same as what the market says.

I haven't done personally this kind of sale and I don't think that I'd invest into gold this time when the matters of the world is full of uncertainty.

By comparison, bitcoin is extremely quick and easy to sell with a few keyboard clicks on your computer or phone app.

Right, P2Ps, DEXes, CEXes.

You name it, you can easily liquidate the Bitcoin that you're holding and if you want it on plain cash, there's a lot of ways of doing it.

[Zigabel]

Buying gold is very  easy. But the problem is when it comes to selling. The process of selling gold appears to be much more complicated.
You have to find a buyer...then you have to find a buyer that will give you a good price for it. Good luck with that.

Then you have to deal with the logistics of physically delivering the gold to the buyer, how to receive payment, etc.

You and the buyer have to meet to make the exchange, which can present security issues.
But if the buyer isn't near you then you have to deliver the gold by mail or shipping service.
But does the buyer pay you first? Or do you send the gold to the buyer first? The risk of getting scammed is very high for both buyer and seller.

The risk for the buyer is how does he know he is getting real gold and not fake or diluted gold?

In the US the fastest and simplest method of selling gold is to go into your local pawn shop but who will give you less than half of what its worth and you end up losing a lot of money.

By comparison, bitcoin is extremely quick and easy to sell with a few keyboard clicks on your computer or phone app.

This is applicable if you are doin the trading of Gold physically where you have to come in contact with the metal physically but then its very possible to trade gold and not having to be exposed to all of the challenges and security threats you did mentioned and just like bitcoin, you are goin to be able to trade it online from the comfort of your home on your PC and not having to handle Gold physically of fear for fake or original.

Trading Gold can be done just the way Bitcoin is done, only when Gold is used for jewelry then it will need to be done through the physical presentations. i still prefer the online way of trading it as its stress free and huge volumes can be traded at once without the fear of anything and security challenges like when its been handled physically and you having to travel to go see a jeweler or walking into a shop where you may have to sell for much lesser than you did bought it.

[The Great Kardoko]

Just trade the GLD ETF.

[Raflesia]

What I feel at the moment is flexibility where bitcoin is simpler for me unlike other assets, especially if they are physical like gold.
Not that I don't like gold because indeed gold is also still one of the very good aspects if we really want to invest in it, it's just that it's not as simple as bitcoin.

For the problem of selling gold actually it depends on where you live but in this case there are some experiences that I felt where I bought gold bars which indeed it took me time to sell at that time because in addition to the process which was quite a bit complicated (where I live) this is also like what you said because indeed not a few collectors want gold when their target in the purchase is reached so I have to wait a few months at that time.

[albon]

I agree that selling Bitcoin for cash is easy and can be done through many payment methods via both centralized and decentralized P2P platforms. All that's needed is a device connected to the internet, and the person will receive the true market value for the amount of Bitcoin he sold quickly and instantly, without incurring any manufacturing or repair costs that might be associated with buying gold in the form of jewelry instead of bullion or coins. However, while I don't see gold buying and selling as complex as mentioned by OP, I find Bitcoin to be a more ideal, modern, and profitable investment than gold.

For me, my Bitcoin holdings are much more than gold. What I like is the ease of dealing, trading, and storing it. I can also sell any amount I need at any time and buy whatever I want online.

[krynockhti]

Buying gold is very  easy

in your Country, not in mine.

bitcoin is relative easy to buy it in my Country.

[headingnorth]

Just trade the GLD ETF.

Gold ETF might be better, but comes with significant counterparty risk.


The Hidden Risks of Buying Gold ETFs

https://www.usmoneyreserve.com/news/gold/hidden-risks-buying-gold-etfs/

https://www.businessinsider.com/theres-no-reason-to-own-a-gold-etf-2016-4

[Harry Bozi]

However, in our country, it is forbidden to buy and sell Bitcoin, and only legally buy and sell gold ！！！

[pinggoki]

That problem you've got with selling gold is probably a case to case basis, there's a possibility that you're going to sell it to someone that's cautious and that they want to make sure that you're legitimate and that they're not getting ripped off, you know how it's easy to cheat people using gold and how this is a really coveted thing amongst criminals. That's why it's much easier to sell your bitcoin compared to gold given that you can easily verify that it is bitcoin that they're selling to you but we have to understand and know that it's not a matter of what's better of the two when it comes to selling them, what matters is what works best for you in the situation, you can't sell your bitcoin in a pawnshop after all.

[tottong]

Buying gold is very  easy. But the problem is when it comes to selling. The process of selling gold appears to be much more complicated.
You have to find a buyer...then you have to find a buyer that will give you a good price for it. Good luck with that.

I don't see any difficulty in selling gold because there are many places in my country that are willing to buy gold in any amount.
Although sometimes we have to sell some places because the amount is so large.
Gold is also one of the assets that is so sought after in my area because maybe people here are used to buying gold as an investment step that they do.

The risk for the buyer is how does he know he is getting real gold and not fake or diluted gold?

This is a fairly simple question to answer because to recognize real gold there are many tools that can be used.
Now we live with technology and for that matter it is not so complicated to recognize its authenticity.

By comparison, bitcoin is extremely quick and easy to sell with a few keyboard clicks on your computer or phone app.

For a comparison of the speed of selling and buying I agree that bitcoin is very easy and fast.
That is why the current generation who understands technology is not difficult to get involved in the bitcoin investment system.
But if we talk about lay people, then the question is the same as the difficulty in recognizing real gold as you asked.