A lot of crypto holders nowadays are looking into how to spend their crypto, including how to buy silver with Bitcoin, gold, and other precious metals. Investors who sell their digital coins for actual gold or silver are adopting precious metals for both diversification and as a safe asset during uncertain times. This “pair trade” between metals and cryptocurrencies has grown dramatically in recent years.
In this article, we will look into the advantages and disadvantages of buying silver with Bitcoin, explain how to purchase metals with crypto, and show the list of verified merchants who can do this transaction.
Buying silver with Bitcoin: Pros & cons
Let’s start with the pros.
Pros
The biggest advantage of using crypto for such purchases is the ease with which transactions may be completed. This spares the buyer some of the inconveniences associated with making online purchases with a credit card or other payment method. Cryptocurrencies blur international boundaries because they operate as a single, uniform unit of money, transcending national boundaries, exchange rates, and thousands of miles of distance.
Even if the cost to purchase some crypto is high, people who use it as a form of payment value the cheaper processing costs compared to those added to transactions made using other methods of payment, though this will differ from seller to seller.
Cons
Since BTC, as well as other crypto coins, are not subject to government regulations, it cannot guarantee you the same level of security and privacy that other currencies do. Furthermore, crypto is incredibly volatile, as demonstrated by the recent breaking of record after record, often followed by a swift decline again. There is always a chance that the “Bitcoin Boom of 2017” will degenerate into a “Bitcoin Bubble” and burst, leaving investors with substantially lower returns.
And finally, there are no assurances with crypto purchases, unlike with PayPal, credit/debit cards, and other payment methods. Any transaction conducted with crypto is immediate, final, and unprotected. Of course, purchasing from trusted retailers mitigates these risks. However, buying from a dishonest vendor could result in a significant loss.
Silver purchase with Bitcoin: Detailed instructions
Time needed: 20 minutes.
Now we will show you how easy it is to make a transaction happen.
- Choose a merchant
Choose a merchant that you prefer in the list provided below or use our map search if you are interested to buy in a specific location.
For example, this is how the map search works in San Francisco:
- Check the merchant’s profile
Check the merchant’s profile to see which crypto coins they accept.
You can check it here:
To be fair, Bitcoin is so popular that it doesn’t even need checking as nearly everyone accepts it. But if you are a holder of some other altcoin, it’s worth checking. - Visit a shop
Visit a shop if it’s offline only or add an item to your basket on the website and proceed to check out, but don’t forget to choose crypto as a payment option. A crypto payment gateway can be installed on the website, or a merchant might contact you to do a direct transaction into their wallet. It depends on the seller.
List of businesses where you can buy silver with Bitcoin
Finally, here you can choose a vendor who accepts Bitcoin:
- Sharps Pixley
- SD Bullion
- Global Vault Group
- American Gold Exchange
- Ainslie Wealth
- Silver Gold Bull
- Victoreanum
- Gainesville Coins
- Materialvalues
- Veldt Gold
- JM Bullion
- Bullion Exchanges
- Bullion79
- Bitgild
- SchiffGold
- MORO
- Bitcoin commodities
- Amagi Metals
- Oxbridge Coins
- AU Ttrading
- Scottsdale Mint
- Insignitus Gold
- CelticGold
- BullionStar
- Port City Coin and Jewelry
- APMEX
- Provident Metals
- Roberts & Roberts Brokerage
- Shire Silver
Conclusion
Using cryptocurrency to purchase silver is practical and cost-effective. There is no need to pay high bank fees because transactions frequently take minutes rather than days. Moreover, the choice of merchants who are willing to accept crypto when you want to buy silver with Bitcoin is really high at the moment. Diversify your capitals today!
FAQs About Buying Silver with BTC
Can you buy silver with Bitcoin?
Yes, it is possible to buy silver and other precious metals using digital assets. There are a lot of online shops, as well as offline stores, that accept Bitcoin (BTC), Ethereum (ETH), and other major crypto coins as a form of payment, and a list of them is presented in this article.
Can you buy silver on Coinbase?
At this time, the extensive ecosystem of Coinbase does not support Silver Token. You can still buy Silver Tokens in a variety of methods.
How do I buy silver with Ethereum?
First of all, you need to find a merchant who accepts ETH. To do this, use our list in this article or use the map search. You can check whether a seller accepts ETH in their business profile. Currently, there are a lot of those who do accept Ethereum for silver and other precious metals.
