Bitcoin for gold

Bitcoin and gold have a lot in common. Even better, you can convert BTC to gold without any troublesome KYC issues.

It’s no wonder bitcoin has gained a reputation as ‘digital gold’. Gold and bitcoin are similar in many ways. They are both deflationary assets, with supply limited by the laws of physics and maths. They are both decentralised and outside of the traditional financial system (which is why gold is considered a ‘safe haven’). It should come as no surprise that gold and other precious metals are a source of interest to many of the crypto crowd. If you mistrust fiat money, why would you want to bank any gains in dollars or euros? Instead, some bitcoiners choose to cash out directly into gold and silver.

One final thing: if you’re buying silver for BTC, you may find there are additional tax issues. We’ll be looking at tax in a different article this week.

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