In 2016, JM Bullion announced that they would allow users of their platform to purchase precious metals using Bitcoin via the BitPay service. The platform revealed that orders would be limited to a minimum of $100 and a maximum of $250,000. Since then, BitPay has forged other partnerships that allow those in the crypto community to use BTC to buy precious metals. Here are some of the major platforms that will allow you to use BTC to buy precious metals using BitPay desktop and the Bitpay app.
JM Bullion
The company has its HQ in Dallas, TX. They only ship their precious metals to the US, excluding Alaska and Hawaii. JM Bullion deals in silver, gold, palladium, copper, and platinum. For all orders larger than $99, the company will offer free shipping. All other orders incur a shipping fee of $3.99. Besides coins, you can buy status, rounds, bars, bullets, and other forms of precious metals. You can purchase the precious metals via BitPay using only BTC.
BitGild
BitGild is located in Utrecht, Holland. It ships precious metals to various nations in the EU and outside such as the US, Singapore, Hong Kong, and Romania. The company specializes in the sale of silver and gold coins and bars for crypto. Additionally, the company also sells these precious metals by weight. However, the company does not offer storage services. For each confirmed sale, the company will ship the precious metals within one business day. They also offer a 100% delivery guarantee. Their site is quite easy to use is a great option for those who wish to diversify their portfolio outside of crypto. On BitGild, you can use BitPay to pay for the gold or silver. There only accept Bitcoin Cash and Bitcoin with this option.
APMEX
The company’s headquarters are located in Oklahoma City, OK. It ships to various destinations globally including Macau, Mexico, UAE, Taiwan, the UK, South Africa, Cayman Islands, Singapore, Hong Kong, and all EU nations. The company was founded in 1999. It deals in platinum, gold, silver, and palladium. Besides selling, they also purchase precious metals from their clients. You can pay for your precious metals using BCH and BTC on this platform. On AMPEX, there is an upper limit of $250,000 when you use crypto payments via the BitPay platform.
Summary
More and more companies are embracing payment in cryptocurrency, especially BTC. This shows that these companies believe in crypto. It is a good opportunity for those who made their millions in the crypto sector to diversify their portfolio. By doing so, they can minimize their risk due to the highly volatile nature of crypto. All of the precious metals dealers listed above have a good reputation and they have been around for years. The choice of which company to use will come down to availability in your region and they types of precious metals you would like to hold. It is quite likely that BitPay is working on other partnerships to make it easier to pay for precious metals in crypto.
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