How To Buy Gold With Bitcoin

 

Bitcoin, Ethereum, Ripple, Dogecoin, Litecoin, Gemini, and other cryptocurrencies have become a phenomenon everywhere on the globe. Online trading and crypto exchanges like Coinbase make it easy for traders and buyers to acquire crypto.

If you're new to Bitcoin, the concept of buying gold or anything else with a digital currency may sound strange to you. Still, there's a lot to appreciate about the way these coins are changing our world.

Today, let's answer a few of your basic questions about bitcoin and crypto. Then, we'll get into how you can buy gold and fine jewelry with Bitcoin right from your shopping cart.

Questions You Might Have About Cryptocurrency 

It's easy to see how someone could get lost in all the new terminology surrounding crypto. Let's demystify some of these questions to understand better how these digital assets hold value. 

What Is Bitcoin? 

Knowing about bitcoin starts with learning more about cryptocurrency.

A cryptocurrency is a type of digital currency that employs encryption for security and works as an online payment system. 

Most cryptocurrencies operate without the need for a central authority in the form of financial institutions or governments, with users validating transactions and purchases through a blockchain network instead.

Speaking of cryptos, Bitcoin is one of many varieties of this digital currency. Bitcoin is one cryptocurrency exchange site that allows users to trade bitcoins across the bitcoin network using a distinct invoice address. 

How Do Bitcoin Transactions Work? 

When you're exchanging Bitcoins with another person or completing a transaction, you might find it confusing to discern what's going on behind the scenes. When you purchase something with cash, you can see it leave your hand. With crypto, it's a little bit different; it can be found in your wallet address.

For starters, let's talk about how you store Bitcoins. Just like your physical wallet holds physical funds, digital wallets hold digital currencies. When you store bitcoins, you would do so through the bitcoin wallet app.

Whenever you want to make a transaction through Bitpay or at a seller that accepts Bitcoin, here's what happens.

In the checkout process, you'll use your Bitcoin invoice address to help authenticate (guarantee) your purchase through the blockchain ledger. You might also be able to use a QR code to make transactions in some cases. 

In essence, it works like a debit card. The difference is that instead of your bank granting acceptance to your purchase, the blockchain letter does. 

Why Do People Like Bitcoin?

So now you know a bit of the basics of Bitcoin. You may still be wondering why some people like it so much. For starters, cryptocurrency is a decentralized currency, meaning there are no third-party banks to charge you transaction fees. 

Another reason people like it is for the investment opportunity. It offers them diversification in their investment portfolios. Some people purchase Bitcoin through platforms such as Coinbase, hoping they'll rise in value in the next few years. 

How Do People Mine Bitcoin? 

How do Bitcoins come into existence? Essentially, miners use their computers to attempt to solve complex equations through an algorithm. 

Once someone solves that equation, it recirculates into blockchain technology to ensure advanced security measures for each transaction. When one succeeds, they receive a coin reward (digital coins) and the equations circulate into the blockchain. 

How Can You Buy Gold With Bitcoin? 

Now it's time to talk about how you can buy gold with Bitcoin. Ironically, a bit of the rationale behind investing in Bitcoin is that it's the digital gold of this era. Like people have invested in physical gold for years, some investors choose to place their stake in Bitcoin for its growth opportunity.

When it comes to buying gold or gold bullion with Bitcoin, you can purchase it like you'd purchase anything else with your cryptocurrency. After buying Bitcoin with your credit card and loading it into your crypto wallet, you'd find a gold retailer who accepts Bitcoin and then enter the amount you prefer to spend. You can then enter the retailer's blockchain address or QR code to complete your end of the transaction. After that, the blockchain will confirm your purchase.

What Else Can You Buy With Cryptocurrency? 

In this new world of digital currency, you can buy many things. Whether you want to purchase airline miles and hotel stays for a vacation or groceries, the list of stores that accept cryptocurrency is multiplying. 

Fine Jewelry You Can Purchase With Bitcoin 

Perhaps you're interested in buying gold for its status as a precious metal. If so, you may be interested in using your cryptocurrency to purchase fine jewelry. Let's look at classic Noémie diamond jewelry with precious metals you can invest in and wear daily.

1. Tennis Bracelet

Here's a piece that has both been a trend and outlasted trends. The Tennis Bracelet is by no means new. It's been around for nearly a century under the name "diamond line bracelet." 

In the 1980s, it gained popularity during one historic tennis match in which Chris Evert asked to stop the game in order to find the tennis bracelet that she wore during matches. This incident caused the popularity of this diamond bracelet to spike. 

Today, this is still a go-to piece of jewelry that many enjoy adding to their evening looks and casual wear alike. 

2. Diamond Chain Link Ring 

When you want to invest in unique fine jewelry, you should choose pieces that make a statement. Our Diamond Chain Link Ring is one example of a band that looks modern with delicate white diamonds surrounding each chain link. 

Customize your band with 18-karat rose gold, yellow gold, or white gold. This band is an excellent detail to elevate your leisurewear.

3. Trois Hoop Earrings 

Do you love exciting earrings? Perhaps you only have one piercing, but you love the multi-pierced look. Our Trois Hoop Earring gives the appearance of three delicate hoops in their own piercings, yet each attaches to one stud. 

Delicate white diamonds surround each hoop with splendor. This earring is one piece that can add personality and glamour to your daily look at once. 

4. Custom Letter Necklace

Do you have a loved one with a birthday coming up? Perhaps they recently got promoted at work, and you'd like to celebrate them. 

One piece you can purchase with Bitcoin is our Custom Letter Necklace. This pendant makes the perfect gift for a loved one. You can display their initial or your own so that they can keep you in their heart always.

Brilliant white diamonds encircle the engraved pendant for a charming touch on an everyday pendant.

5. Diamond Eternity Band

The Diamond Eternity Band is a piece of fine jewelry that has represented eternal love and commitment for centuries. Our Diamond Eternity Band features delicate F/G color grade and VS clarity diamonds surrounding the entirety of the band. Select your preference of 18-karat gold or platinum for a piece of jewelry that's timeless and versatile. 

6. Solitaire Engagement Ring 

Are you and your partner talking about engagement? Perhaps you've both discussed creative ways to invest in your wedding and engagement jewelry. When you're ready to buy a classic diamond engagement ring with cryptocurrency, our Noémie Solitaire Engagement Ring is an outstanding choice. 

If you're on a budget, consider choosing a lab-grown option for the solitaire's focal stone. Lab-mined stones are identical to earth-mined diamonds in every way, yet we offer them at a fraction of the price. You can enjoy an exquisite diamond engagement ring at an attractive price that works for your budget. 

7. Crescent Moon Necklace 

Are you someone who enjoys the beauty of nature? Perhaps you feel connected to the earth and the universe in an almost tangible way. You can represent your love for the heavens by wearing our Noémie Crescent Moon Necklace

This piece displays excellent quality graduating diamonds along the crescent shape. You can choose to wear it alone or pair it with another dainty necklace for a layered look. 

How Noémie Offers Incredible Value 

Choosing to invest in gold or fine jewelry with your cryptocurrency is a great decision. With that, you'll want to ensure that your purchase comes from a reputable retailer that offers the best value for their precious metal jewelry. 

When you purchase fine jewelry from Noémie, you can be confident that the pieces you choose are handcrafted with care and attention to detail. We also take pride in reducing our costs to offer you these pieces at the most affordable prices. 

You Can Buy Your Heart's Desires With Bitcoin 

Getting into Bitcoin and other cryptocurrencies is exciting. Learning the world of digital exchange, blockchain technology, and bitcoin mining can be a rewarding experience. 

When you decide to invest your crypto where it counts, fine jewelry is an excellent investment. You can wear your Noémie jewelry every day, too, knowing it will hold its value for decades to come. 

Sources:

All About Gold | The Metal and its History

Bitcoin emergence as 'digital gold' could lift price to $146,000, says JPM | Reuters

What is Diamond Clarity | The 4Cs of Diamond Quality by GIA