This article is going to show you exactly how to buy gold with bitcoin but first here’s why you might want to listen to me.
I’m Hunter Riley III, author of the Amazon #1 best selling book on gold and silver called “Stack Silver Get Gold”. I’m from Chicago but currently based at the Vanderbilt Hotel in San Juan, Puerto Rico for the duration of the horrendous Chicago winter. I’ve been investing in gold and silver for about 15 years and cryptocurrencies for 4 years. In my books and online courses you’ll find expert information on the fundamentals, the blocking and tackling needed to get ahead in the cryptocurrency and precious metals game and protect yourself from becoming a victim of “The Chicago Way”.
I wanted to do some writing for the Miles Franklin team because after all the research I’ve conducted on precious metals dealers for my books and online programs, I can safely say there is no one better or more trustworthy than Miles Franklin when it comes to buying precious metals.
I trust them with my precious metals life.
Ok, enough of the rah rah sentimental rambling, let’s get into the Godl Hodl and safely buying gold with bitcoin….
Why would you ever want to buy gold with bitcoin?
There’s a neat adage I like to follow and I have no clue who said it. It goes something like this:
“Take some profits on the way up so you’re not mentally melting down and whining on your Facebook page on the way down”.
Bitcoin and cryptocurrencies are volatility monsters.
They crash a lot.
Here are some of Bitcoin’s biggest crashes. The most recent January crash actually went down around 70% to $6000ish.
Big crashes and trend reversals come at warp speed in cryptocurrencies.
And now the general public is starting to jump in.
FOMO and FUD are usual occurrences that push BTC higher or lower faster than we’ve ever seen. FOMO stands for “Fear Of Missing Out”. FUD meaning “Fear, Uncertainty and Doubt”.
Only “Fight Club” caliber hodlers can deal with the ups and downs without getting shaken out.
If you’re not familiar with the term “HODL” or “HODLER”, it refers to cryptocurrency buyers who use a specific bitcoin investing strategy similar to the typical buy and hold strategy in the stock market. In a 2013 bitcoin crash, a bitcoin forum member posted that he was “hodling” despite the crash. He misspelled the word “holding”. You can read that original post here. Since then the misspelling has taken on mythical status in the cryptocurrency community and HODL has become an acronym for “Hold On for Dear Life” due to the wild ride you hitch your star to when you decide to buy into bitcoin.
The above post captures the skill level and emotion of most cryptocurrency investors perfectly.
It’s a wild ride.
Gold and silver provide some security and stability.
I’ve been buying bitcoin all the way up from about $200.
And guess what I’ve been doing?
Buying gold with bitcoin and crypto profits.
Not all my profits.
I’m definitely a bitcoin hodler, but I’m also a fan of the Godl Hodl (translates to “gold hold” in regular, non-crypto person language).
What is the Godl Hodl?
Buying gold with bitcoin profits and holding both until the time comes.
Bitcoin financed gold bullion purchasing.
There is a lot of blabbering and whining from both the cryptocurrency side and precious metals side about which is better, gold or bitcoin?
I don’t’ have time to whine or debate.
I like them both.
I consider myself a Godl Hodler. I also buy silver too, I don’t discriminate. Especially since, around the time of this writing, the gold silver ratio is up around the 80’s.
If you’re buying bitcoin and other cryptocurrencies you might want to consider covering your six with some crypto profit financed gold or silver bullion buys too. If you’re not in to cryptocurrencies or bitcoin yet, or even if you despise them, you may want to throw a dart at the top 20 crypto board. In his famous book “A Random Walk Down Wall Street”, Burton Malkiel says “A blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by experts.”
The way crypto currencies are going right now, it doesn’t take that much to make a profit. Of course, it’s not going to last forever, but we’re not done yet.
So let’s get into how to buy gold with bitcoin…..
STEP ONE: You need to buy and own some bitcoin or other cryptocurrencies. Unlike in the early days of bitcoin, it’s pretty easy to buy and own bitcoin today. As of this writing, probably the safest spot to buy bitcoin is from Coinbase. You can buy bitcoin using funds from your bank account or credit card. If you’d like to buy other cryptocurrencies you can then send your bitcoin to a digital currency exchange like Poloniex or Binance.
STEP TWO: Find a precious metals dealer who makes it easy for you to buy gold with bitcoin. Fortunately, you’re in luck. You can buy gold using bitcoin directly from Miles Franklin. First you’ll need to create a Miles Franklin online precious metals account which you can do here:
After you’ve created your online account, for extra security you can confirm and activate it by calling 1-800-822-8080
STEP THREE: Log in to your Miles Franklin account and go to their purchase page to browse all their available precious metals:
STEP FOUR: Select the gold or silver bullion you want, add them to your cart and click “proceed to checkout”. Once you do that, you’ll add your billing information, shipping information, select your shipping method and then you’ll come to the payment information section. Select pay with bitcoin as shown below:
STEP FIVE: Click the “Place Order” button on the following page. Your precious metals for bitcoin order will then be sent directly to Miles Franklin, your personal broker will be alerted and will calculate and send you the precise cost of your precious metals order in bitcoin and the Miles Franklin bitcoin wallet address or QR code. When you receive the Miles Franklin bitcoin wallet address all you have to do is send the correct amount of bitcoin from your wallet to the Miles Franklin wallet. You can find a complete list of Miles Franklin buying gold with bitcoin compatible wallets at the Bitpay website here.
The Bitpay cryptocurrency transaction system charges a 1% transaction fee for all precious metals purchases using bitcoin and once the bitcoin transaction confirmation is received by your gold broker, your gold or silver will ship in two to three business days.
It’s pretty easy stuff but what I like most about Miles Franklin is the relationship you develop with your personal precious metals broker. So if you need help, call him or her up and they’ll walk you through buying gold and silver with bitcoin step by step. You can find the Miles Franklin team contact information here:
As you can see, becoming a godl hodler really isn’t that hard.
So if you’ve been riding the latest cryptocurrency craze, and you’re getting uncomfortable with the big price swings, the cure is to solidify some of your gains by buying gold with bitcoin. You’re going to feel much better. You can get in touch with Hunter or sign up for his training programs at his website http://www.StackSilverGetGoldBuyBitcoin.com