Paying for silver bullion coins and silver bullion bars with bitcoin, along with other cryptocurrencies, is now a common option in the physical silver bullion industry.
Here we cover how and why this 'buy physical silver with bitcoin' phenomenon is growing here in the USA and elsewhere.
Buying Silver with Bitcoin (BTC) in the USA
A proven bitcoin payment processor called BitPay has given investors the ability to buy silver bullion with a variety of cryptocurrencies rather easily, including BitCoin (BTC), BitCoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), USD Coin (USDC), among many others.
Simply select the silver bullion products you would like to purchase from SD Bullion by placing them in your cart.
Next, during checkout, you will be presented with various payment method options. Here you can choose to buy silver with BTC (bitcoin).
A new tab will open for you to choose your wallet. Keep in mind that different wallets allow for the use of different coins. Once your digital wallet is selected, pick the digital currency you would like to pay with and a QR code will be generated. Scan the code or copy and paste the payment details into your wallet.
Upon payment clearance, SD Bullion will handle the processing, packaging, and safe fully insured shipment of your silver bullion securely packaged in a nondescript parcel (tracking information will be emailed to you upon shipment).
Silver for Bitcoin Payment Invoices & Bitcoin Wallet Compatibility
The price of bitcoin is always moving and fluctuating (see bitcoin's current value here).
To prevent bitcoin price swings from hurting bitcoin accepting merchants or users, BitPay requires transactions currently to be sent within 15 minutes of invoice issuance. The majority of bitcoin exchanges cannot send payments that quickly. Late silver for bitcoin payments will be cancelled and need to be refunded. This will cost everyone time and potentially capital. Thus BitPay now requires all silver for bitcoin payments to be made with a payment protocol compatible software or hardware wallet.
The different wallets you can use to make your payment through BitPay can be verified right here, on their website.
As of writing this, these are the most popular crypto currency wallets to buy silver coins and silver bars via SD Bullion and BitPay respectively, according to their website:
- BitPay Wallet
- Copay Wallet
- BTC.com Wallet
- Mycelium Wallet
- Edge Wallet (Formerly Airbitz)
- Electrum Wallet (Desktop only, PayPro not supported on Mobile)
- Bitcoin Core Wallet
- Bitcoin.com Wallet
- BRD Wallet (breadwallet)
- Blockchain Wallet
- Exodus (Desktop only, PayPro not supported on Mobile)
- HODL Wallet
You can currently use any of the popular bitcoin payment protocol-compatible wallets above to pay a BitPay invoice in order to buy silver bullion with BTC, or other digital coin at SD Bullion.
If you don't have one of these bitcoin wallets yet, simply create one from the list above (be sure to use the current release version). Then send some bitcoin or other crypto currency to it, likely at least the amount you intend to use in your silver for your purchase at SD Bullion.
Here is a short educational video on the subject of paying BitPay invoices with various bitcoin wallets.
3 Steps to buy Silver with BTC at SD Bullion
Step 1 ➤ Add silver bullion products to your SD Bullion cart
Step 2 ➤ Proceed to checkout and select Bitcoin as your form of payment
Step 3 ➤ Order and immediately pay your silver bullion for bitcoin payment invoice
Upon committing to a silver bullion for bitcoin order at SD Bullion, the BitPay invoice will open in a new tab. Simply pay this invoice in full within 15 minutes using one of the approved bitcoin wallets above.
Please note, if your order is not completed within the 15 minute timeframe provided by Bitpay, then your order will automatically be cancelled.
Silver for bitcoin payments are also one of the cheapest options we offer: SD Bullion currently offers Bitcoin customers a 3% discount off of our credit / debit card price on all orders. Do take note however that the bitcoin network may charge a transaction fee.
Yet also remember that physical precious metals like silver bullion have and will be around far longer than any other non-precious currency project mankind has or will continue to undertake.
Physical Silver Bullion will Outlast Bitcoin
Of course there are also other reasons for this physical silver for BTC buying trend. Silver, along with gold and other precious metals, are considered to be a safe haven asset for investment, especially during times of economic downturns.
These two asset classes are independent of one another. Many investors choose to buy and hold portions of their wealth in silver bullion, bitcoin, other physical precious metals, and cryptocurrencies and likely for many of the very same reasons .
If you are an investor and would like to buy silver bullion with bitcoin, our traders can help you personally during open market hours. They can assist you by calling us at 1-800-294-8732.