What is BitPay?
BitPay began in 2011 as a Bitcoin payment service provider based in Atlanta, Georgia. However, BitPay began creating a platform for cryptocurrency commerce while this coin was in its infancy. The founders, Tony Gallippi and Stephen Pair, earned a reputation as pioneers in the industry as they saw great potential in the cryptocurrency market. Their mission with BitPay was to make payments faster, more efficient, and more secure. Since its founding, BitPay has expanded to become one of the most popular crypto trading services out there. This is especially the case since it supports several more crypto coins on its trading platform. Now, thanks to BitPay, you can buy gold with crypto from Bullion Exchanges!
What Cryptos Does BitPay Support?
BitPay originally started as a program that supported Bitcoin trading. However, many other coins surfaced as a result of the technological phenomenon of the blockchain. The very coding that Bitcoin was coded with became the basis for more cryptocurrencies. Consequently, other cryptos came to fruition such as Litecoin and Ethereum. These are known as alternative coins or “altcoins.” But, one drawback that some investors dislike about Bitcoin and altcoins is that they are not pegged to a store of value.
The desire to back digital currency led to the creation of stablecoins. Basically, stablecoins are a form of currency that trades entirely digitally but are backed by a physical asset. Usually, the physical asset pegged to stablecoins is the US dollar. This means that stablecoins pegged to the dollar trade at the same value as the US dollar. But, not every stablecoin is backed by the dollar. That being said, many stablecoins are additionally available on BitPay. This allows you to regularly use them in day-to-day commerce.
As of April 2021, BitPay supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and now, Dogecoin (DOGE). The inclusion of Dogecoin is much more recent, but we are happy to accept it as a viable form of payment today. Additionally, you can use four stablecoins through BitPay. These stable coins include Gemini Dollar (GUSD), Ripple (XRP), USD Coin (USDC), Paxos Standard Token (PAX), Binance Coin (BUSD). Each of these currencies is acceptable on Bullion Exchanges’ website, now including Dogecoin!
How to Buy Gold with Crypto
Thanks to BitPay, you can buy gold with crypto including Bitcoin, Ethereum, Dogecoin, and stablecoins at Bullion Exchanges. Because we incorporated BitPay into our payment options, you can buy gold with any of the tokens this interface supports. As a result, you no longer need to rely only on cryptos for your safe haven hedge! Easily diversify your holdings with precious metals by selecting “Crypto” at checkout.
All you need to do is add your desired products to your shopping cart and select “Crypto” as your payment method. Once you input all your information, our website will then redirect you to the BitPay checkout process. Here, you can complete your transaction in one of two ways.
- Scanning the QR Code (Scan). The transaction is encoded in a secure QR code. To complete your transaction, scan the code with your stablecoin wallet app. After that, the invoice will appear in your app. Simply approve it so you can transfer the allotted amount to Bullion Exchanges.
- Sending a payment (Copy). If you choose to directly send your payment to Bullion Exchanges, you must access your wallet directly. Then, fill in our wallet address displayed on the screen and send the exact cryptocurrency amount to Bullion Exchanges.
Stablecoin Spotlight: PAXG
Some investors may be hesitant to convert cryptocurrency into gold, especially because of the concerns around storage. Therefore, you may also consider dipping into the gold market digitally with PAXG. This stablecoin is Paxos Gold, a digital token that represents physical ownership of gold. PAXG is a great alternative and offers a familiar digital twist for crypto investors on a classic form of investment.
When you buy PAXG, your gold is actually held in your name in the highly secure vaults of London. Like other stablecoins, PAXG is valued at a 1:1 ratio with gold, meaning 1 PAXG equals one troy ounce of fine gold. The best part is if you decide you would prefer the physical gold in your own hands, you can easily exchange it! That’s where AlphaBullion steps in, so take a look.
Bullion Exchanges is a trusted precious metals retailer located in the heart of New York City’s Diamond District. We carry a variety of products, from the ever-popular gold and silver to the newly emerging platinum and palladium. Above all, we have a numismatist on site, and offer our expertise to first-time buyers and long-term collectors alike.
Gold and silver have long been a stable and popular way to introduce hard assets to any financial portfolio. As our world’s economic climate becomes increasingly unstable in the face of emerging industries and unforeseen economic shifts, many seek out alternative investments to better secure the value of their assets. We believe that cryptocurrency and precious metals are perfect to expand your financial security. Buy gold with crypto and confidence from Bullion Exchanges today!