Selling Bitcoin vs. Selling Gold

[Marvell1]

Yea, I have seen a posts on this forum where a member actually said that it's easy to buy gold in their country but difficult to sell it back to people you bought it from, and in my country, it doesn't work like that. If you actually want to sell your gold piece, it's very easy, and you will also sell it at a good rate if you already know what the current rate is for one troy ounce, but when you don't know about all that, you can be cheated by the buyer. 

Many people from third world countries also affirm that they have no difficulty buying and selling gold. Buying and selling gold is extremely easy, while OP said he had difficulty selling gold in a large country and that is the United States. Are there no physical gold stores in the US? Why did he go to the pawn shop to sell gold? I really doubt what the OP is saying.

Just like a few people have already said, Bitcoin is much easier to keep safely than gold. Most of the time, you can store a very large sum of Bitcoin and no one will know unless you tell people about it, but once you hold that large amount of gold, it could be noticed and can lead to robbery. 

I also agree with this, storing bitcoin is much easier than gold but it is only easy for those who have knowledge about bitcoin. People who are older or do not have basic knowledge of computers will have difficulty even buying or selling, let alone storing bitcoins.

[bubilas]

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.

In the city where I live, buying gold is incredibly difficult. It's not that it's hard to find or difficult to buy. The whole problem is that if you buy gold, then selling it becomes much more expensive. The gap in the bank between selling and buying is about 15 percent! And this is just absurd. It turns out that if you want to profit from buying gold, you have to wait for its price to rise by 16 percent! and then there will be a profit of 1 percent.

[Easteregg69]

On OBS: (Observation. OBS)

PAX Gold: PAXG $2,414.08

On Binance and uniswap.. My beer has gold label on it. Imitated. Great idea.

[summonerrk]

Digital Gold BTC with such huge volatility gives us great opportunities, like those we have seen in recent days. If someone decided that the rally within the corridor will continue, then he bought for 50k, thinking that this is a new corridor 50-70k, or 50-60k.
In general, it seems to me that Bitcoin behaves a little predictably in recent weeks and months. Even if it is very volatile.

[Yatsan]

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.

I quite agree with you that your findings on gold sales and Bitcoin sales bring into sharp relief practical challenges associated with each. Selling gold is a process that has many steps to complicate things: Finding buyers, ensuring the appropriate price, dealing with the logistics, managing fraud and security risks—and often being a hassle because it literally requires that you handle gold, meet the customer, and arrange secure payment and delivery. It happens, and this can be especially difficult if the buyer is not local. With that being said, selling Bitcoin is much more straightforward. Bitcoin's digital nature allows for faster transactions via the internet, reduces the need for physical transactions, reduces logistical complexity and transactions can be completed with just a few clicks on a computer or smartphone app, and blockchain technology which is obvious, so the risks associated with scammers are generally low because of the security involved The very ease with which one can trade bitcoin, compared to gold, underlines the massive chasm that exists between digital and physical assets. Much as gold is still a physical asset possessing intrinsic value, trading it involves complicated and at times highly expensive resources. Bitcoin, being a digital asset, makes most of these challenges very easy to deal with and thus offers very easy options for those who stress speed and swiftness in their businesses.

[Blitzboy]

Gold is old-school. You're dealing with physical stuff, worrying about getting ripped off. Bitcoin? Its the future. Secure, transparent, no middlemen. Its not just about convenience, its about trust. Bitcoin is built on a system thats inherently trustworthy. Thats huge. It changes the game. Supporting Bitcoin isnt just about making money. Its about believing in a better system. A system thats fair, accessible, and puts power back in the hands of the people. Thats the future Im betting on.

[Cryptomultiplier]

Gold is old-school. You're dealing with physical stuff, worrying about getting ripped off. Bitcoin? Its the future. Secure, transparent, no middlemen. Its not just about convenience, its about trust. Bitcoin is built on a system thats inherently trustworthy. Thats huge. It changes the game. Supporting Bitcoin isnt just about making money. Its about believing in a better system. A system thats fair, accessible, and puts power back in the hands of the people. Thats the future Im betting on.

As a potential trader, one has a number of options to speculate on the price of Gold. The options could include trading Gold stocks, Gold ETFs, Gold Futures, Gold Options, Gold CFDs as well as physical Gold (bullion bars or coins).
Even with the speculative return of the gold standard, and it still being able to be used as a hedge against inflation, I think Bitcoin serves better value with the ease of which it can be traded and used to pay for transactions in any said currency, with or without an exchange interference.

[legendbtc]

I would choose bitcoin over gold for many different reasons, but I like the fairness of comparing the two.

Bitcoin and gold belongs to different types of asset so it's big difference between them, like we can not compare Bitcoin adoption and Internet adoption fairly. Any comparison must be made carefully and neutrally so people who are new won't have misleading information toward Bitcoin like Bitcoin is the best.

We don't even need to compare the two because they have different uses in life, not just in terms of investment. Not to mention each person's needs and preferences are different and they will have the right choice for themselves.

Do you feel this topic offers a fair comparison? I personally don't see anything fair here and that's why I disagree with what the OP is saying.

More gold will be mined and available in circulation and we can not know the maximum available physical gold in future. With Bitcoin, we know it, there are only 21M bitcoin and it will help its value and price because supply and demand principle.

How is the 21 million bitcoin cap defined and enforced

On the surface of our earth there is still a lot of gold and it can be said that the total supply of gold has not yet been determined, but mining and processing gold is also very expensive and difficult. Not every country can exploit it. Not to mention, gold's applications are very widespread, it is used in almost every profession from medical care, computers, mechanics, even in high-end cuisine...It is not only used to make property or jewelry as we often see. So even if humanity mines more gold, it will never be enough to supply the world, it will always be in scarcity.

[Peanutswar]

Just the convenience in buying and selling your bitcoin we are using a different exchange of course with a different price rate now its up to you which exchange you will use to sell your coins, of course people will prefer with the higher rate price so they can gain profit still, the same with selling gold but the difference is the exchange you are seeking for the higher price rate the gold but in bitcoin you can sell tons of people buying and selling in a particular price in gold you must need to seek people who want to buy it in a designated price still having the limit price you would like. In bitcoin you can quick flip an instant because of the market volatility, in gold you can flip this but takes a lot of time.

[anarkiboy]

The biggest difference between Bitcoin and Gold is that Gold can be seized by the government if they find you suspicious.
If you got substantial amounts, they will find a reason to suspect you as proven by many cases of innocent people getting robbed by the government all over the world.

Bitcoin can be easily hidden with encrypted seed phrase hidden in many places.

Remember who we are dealing here with, Government is a crime organization - evil that shouldn't exist.

[Agbe]

Bitcoin is a digital currency and it is a store of value and it can be easy be gotten and many people are out there to get it at any time when you are ready to sell. And why gold is difficult to sell, it is because the number of people who have access to gold is very few so when you managed to have some pieces, then to sell them will be difficult because it is not common and if you see anyone that is ready to buy, he will not buy it to your satisfaction and you too you want to sell them.

So you sell them with cheaper price. So you be free from thinking. As for me, I have not seen gold so if someone brings gold for me to buy, I won't buy it because I don't know where I will sell the gold.

[pawanjain]

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.

Selling gold in my country is very simple. You just have to go to a nearby jwellery shop and you can sell gold at market price.
They do deduct some making charges on the weight of gold which is around 6% - 12% of the price but other than that it is easy to sell gold.
Selling bitcoin is easy too but exchanging it to fiat is a matter of concern in my country due to P2P frauds happening in here and bank accounts getting frozen by banks.

[m2017]

~snip

Of course, gold is not the most liquid (and profitable) financial instrument (which is acceptable to use under certain conditions), but still, bitcoin also has a number of disadvantages. Only these disadvantages are of a different nature.

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

I am ready to see your reaction, how you will sell bitcoin "extremely quick and easy", when mempool \ BTC-network overloaded.

I am ready to see your reaction, when the tax office knocks on your door expecting an explanation of the origin of funds (received after "few keyboard clicks on your computer or phone app") or the bank freezes your account for the same reasons.

[ndutndut]

These two assets are mandatory in the current era for future investment because both are potential investments and have their own criteria. Gold is undoubtedly because it has been around for decades and is highly trusted by the public, Bitcoin has also been around for more than a decade with a system that makes it easy for us to build future assets. In the end, we must have these two investments to achieve financial freedom in the future.

However, when it comes to convenience, of course Bitcoin is easier in all respects, including when we sell it. We can sell Bitcoin just by using a smartphone, while for gold we have to find a truly trusted store. There is fake gold, while Bitcoin is not fake. Gold is difficult to carry anywhere while Bitcoin is easier to carry anywhere. The point is that Bitcoin is here to make it easier for us to invest.

[Issa56]

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.

Why will the process of buying be so easy and the process of selling be so complicated? I believe if you are selling, then you will follow the same process that you followed when buying. I have seen a few people sell their gold, and I don’t see anything that makes it look complicated, maybe it’s kind of difficult from where you are.

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.

We have stores that sell gold here at my side, so just walk into one, most of them always have the same price, it’s just left for you to select the store that you will be selling at.

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.

Do you mean there is no jewelry store or shop where you stay? At my place, if you need gold, there are stores that you can visit to get it. Select the gold you want, make a payment, and you will be given what you pay for. You don’t have to ship anything anywhere, and you are not getting scammed in any way.

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

Visit a reputable store and get your gold, they won’t sell a fake gold for you.

[Zoomic]

Gold is old-school. You're dealing with physical stuff, worrying about getting ripped off. Bitcoin? Its the future. Secure, transparent, no middlemen. Its not just about convenience, its about trust. Bitcoin is built on a system thats inherently trustworthy. Thats huge. It changes the game. Supporting Bitcoin isnt just about making money. Its about believing in a better system. A system thats fair, accessible, and puts power back in the hands of the people. Thats the future Im betting on.

Investors who are risks averse would comfortably choose to invest in gold because it has a very low volatility rate. Aside this, gold is well regulated compared to bitcoin with no worries about online theft. The both forms of investments are not without their own individual risks, bitcoin even has more risks compared to gold. The fact that gold is a physical asset does not in any way make it old school, investors just have to understand their risks tolerance level and go for what they feel they are more comfortable with irrespective of the amount of returns the choices of investments stand to generate or what everyone is saying about a particular investment choice. A lot of people are living in regrets now because they  went for a particular kind of investment without considering their risk tolerance level.

[Furious 7]

Gold is old-school. You're dealing with physical stuff, worrying about getting ripped off. Bitcoin? Its the future. Secure, transparent, no middlemen. Its not just about convenience, its about trust. Bitcoin is built on a system thats inherently trustworthy. Thats huge. It changes the game. Supporting Bitcoin isnt just about making money. Its about believing in a better system. A system thats fair, accessible, and puts power back in the hands of the people. Thats the future Im betting on.

Investors who are risks averse would comfortably choose to invest in gold because it has a very low volatility rate. Aside this, gold is well regulated compared to bitcoin with no worries about online theft. The both forms of investments are not without their own individual risks, bitcoin even has more risks compared to gold. The fact that gold is a physical asset does not in any way make it old school, investors just have to understand their risks tolerance level and go for what they feel they are more comfortable with irrespective of the amount of returns the choices of investments stand to generate or what everyone is saying about a particular investment choice. A lot of people are living in regrets now because they  went for a particular kind of investment without considering their risk tolerance level.

But in the end, when we talk about profit, it is certain that the smaller the risk faced, the result of the profit will not be too large and vice versa when the risk we face is greater, the profit obtained will also be greater.

But on the other hand, in the end it all depends on the fashion and interpretation of each because being in gold is not a wrong thing to do if they want to be there because being in bitcoin or gold all certainly has its own consequences and risks so as long as they can minimize and know the risks they have then indeed continue what we think is right.
We cannot say that being in bitcoin is right and elsewhere is wrong because after all, everything has its own assessment and management of each risk of course.

[tread93]

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.

Depends on what kind of gold product you have, is it a rare coin? Or just a chain that goes for melt value? Or is it a very intricately made wedding band? Usually depending on the item and the buyer they will always try to get melt value unless it’s something truly special and carries a premium. Bitcoin on the other hand is instantaneous!

[Onyeeze]

Myself I have not seen anyone who demanded for good to buy but I have seen many persons who requested for Bitcoin and the any other bitcoins to buy so that is the difference between bitcoin and gold because Bitcoin is generally known and the accepted by anyone who wants it why good is also general but not generally accepted by anybody, I think that selling of good many people may have it as a difficult thing to sell their gold, from my understanding, I believe that buyers of gold is very scarce why buyers of bitcoin is everywhere and even some exchange can buy bitcoin from the person that wants to sell and store it for future.

[Value.Virtue]

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.

Selling gold for the first time to a buyer can be quite difficult but after the first successful sell of real gold to a buyer the subsequent request for selling is very much easy because you will definitely establish strong relationships or contacts after the first few sells, and you know one customer satisfied means gaining a million customer as a reputation for future transacting, in my country here, there are several places where light and bulk gold buyers and sellers stay and you bring real gold to them and they buy next time they will come to meet you around your area where comfortable and secure for you other than your house for security reasons and you may not need to waste transportation to go meet them anymore and where the gold is too bulky for the buyer he will then refer you to others and buying Bitcoin too at the first time is not as easy going as buying it subsequently though Bitcoin is virtual holding and does not require much like gold though both has advantages and disadvantages in profit returns,durability etc.