A stack of bitcoin or a stack of gold, which would you rather have? Gold has been around for thousands of years and continues to hold its value. Bitcoin has been around for just over a decade and has become one of the most in-demand global assets.
Bitcoin and gold are often compared to each other. Many people consider bitcoin to be virtual gold. And while you should be invested in bitcoin for the growth potential, you shouldn’t forgo gold completely.
Thanks to advances in technology, with a bitcoin and gold ATM, investing in gold is just as easy as investing in bitcoin. If you know how to use an ATM, you can lay claim to real gold, in a physical vault.
Wondering why you should get your hands on some gold today? Keep reading to learn how to buy gold using a bitcoin ATM, and why you should start now.
1. Bitcoin and Gold in One Machine
Bitcoin ATMs have been popping up all over the country and around the globe. They make it super easy for people who are new to the world of cryptocurrency to purchase bitcoin.
Anyone who knows how to use an ATM to deposit or withdraw cash would be able to purchase bitcoin using one of these ATMs. To use one, you just need to set up a crypto wallet, which you can do with many different apps on your smartphone.
Once you have a wallet in place, and an account at the particular ATM brand you are using, each subsequent transaction will be very quick.
While crypto ATMs aren’t uncommon, we are now seeing ATMs that offer both bitcoin and real gold. By inserting cash, you can purchase real, physical gold in small increments.
Currently, this service is offered by Byte Federal, which is widely distributed in 11 states. The gold is stored in a real, secured vault that is regularly audited. If you ever wanted to withdraw your physical gold, you can do so. Though there’s almost no reason to do so.
2. Easy to Use
Bitcoin and gold ATMs are so easy to use. The alternative to using a crypto ATM is to set up an account online with a cryptocurrency exchange.
Once your identity is verified, which can take hours or days in some instances, you’ll have to link your bank account in order to deposit funds. Once you do that, you can send dollars to your crypto account, and finally, buy bitcoin.
The reverse process takes just as long. But with a bitcoin ATM, you can insert cash whenever you have it and purchase bitcoin at the going rate, adding it to your wallet. When you need cash, just stop by the ATM, sell as much bitcoin as is needed, and you’re good to go.
3. Trade Cash for Real Assets
Physical dollar bills are going out of style. Most people use credit cards and bank accounts to manage their funds. Most employers pay their teams using direct deposit. So few people are dealing in cash and checks.
But there is still a lot of people that get paid all or some of their wages in cash. Many people in the service industry receive cash tips each night, which make up most of their salary.
The problem is that US dollars lose value daily, thanks to rising inflation. So these people who are working with cash on a regular basis can easily convert it into assets like bitcoin or gold, or both, with one step. No dealing with banks and deposit times and transfers. Insert cash, own real assets.
4. Accessible Bitcoin and Gold ATM Locations
Byte Federal manages a network of more than 1,000 ATMs where you can buy both gold, bitcoin, and other cryptocurrencies using cash. You can find them around the US in locations that are convenient to most people.
This includes grocery stores, convenience stores, gas stations, and hotels. Even people who don’t have a computer or use the internet very often can buy bitcoin and gold using cash and a smartphone.
5. Buy and Sell Gold With Cash
Long, long ago, you could buy gold for cash and store that gold at home. But times have changed. The majority of gold on the market today is locked up in hyper-secure vaults.
To invest in this gold usually means going through a complicated process, or investing in funds that give you exposure to gold without actually giving you ownership.
By using a Byte Federal ATM, you’ll buy gold through their integration with Vaultoro Gold Exchange. You can set up a Vaultoro account when you visit the ATM for the first time.
Rather than storing your money in a bank account, where it deflates in value by the day, you can just store it all in gold. Whenever you need money to pay bills or make purchases, you can withdraw the funds.
Gold is the classic inflation hedge, providing a consistent value and price over time. It doesn’t fluctuate nearly as much as a cryptocurrency or other assets, and it doesn’t lose value, since it’s a limited resource, unlike dollars.
6. Buy Gold With Bitcoin
Don’t want to deal with dollar bills? You can buy or sell your gold with bitcoin, too. Since the ATM is capable of handling bitcoin and gold transactions, you never need to convert your funds to dollars anymore.
You can go back and forth between gold and bitcoin. Many people will hold their short-medium term funds in gold, then exchange it for bitcoin when they need to use it.
Bitcoin can be cashed out only, and funds sent to your bank account. And there are also many online merchants that accept bitcoin as payment, eliminating your complete dependence on a bank and their debit and credit cards.
7. Buy and Sell Bitcoin With Cash
Bitcoin and cryptocurrency are the money of the internet and the money of the future. But in order to be decentralized and available to everyone, it actually needs to be available to everyone.
A bitcoin ATM, that allows anyone to buy bitcoin using physical dollar bills, helps to level the playing field. That way, even people that don’t like using banks can still invest in bitcoin and potentially earn some serious gains. A bitcoin ATM allows people to engage in the crypto world in a bankless fashion.
8. Swiss Security
Maybe you have some gold jewellery, coins, or collectables that are quite valuable. The problem with actually owning things is that the risk of damage, misplacement, and theft is very real.
The value of your gold could go down or disappear entirely if something goes wrong. That’s why it’s better to invest in gold using a company that protects it on your behalf.
Vaultoro, the gold-purchasing integration inside of Byte Federal ATMs, vaults all of the gold in a modern storage facility in Switzerland. No one will be able to steal your gold, or otherwise affect your ownership of the asset.
If you want to visit the vault and withdraw the gold bullion from the vault, you can do so. Having your wealth stored in vaults like this helps to eliminate the worry and anxiety that might come with storing your own valuable assets at home.
9. Manage Your Investments Online
You can buy both gold and bitcoin using an ATM without owning a computer or having a bank account. But since most people do have computers and bank accounts, you can use those to manage your gold and crypto investments online.
Crypto wallets can sometimes be accessed by multiple devices. And you can check out your Vaultoro account anywhere by logging in.
So you can always keep tabs on how much you have in your investment portfolio, what it’s currently worth, and what your gains or losses are from your phone or computer.
If you want to buy and sell online, you can do so. But if you want to go straight from bitcoin to cash, without any delays, then you can visit your nearest ATM.
10. Cash When You Need it
Traditional investment vehicles aren’t as liquid as they should be. When you invest in stocks, bonds, precious metals, or cryptocurrency, it could take days from the time you decide to sell, cash out, withdraw funds to your bank, and finally access that cash or make a purchase.
That’s why many people avoid investing altogether, as it locks up their funds. But there are many times when accessing your funds right away would be incredibly helpful.
If rent is due right before your next paycheck arrives, or if your bank freezes your credit card for whatever reason, you need a way to access cash.
Rather than taking out a sleazy loan, you can just visit your nearest bitcoin and gold ATM, cash out what you need at that moment, and carry on. No delays are needed.
Take Note of Your Nearest Bitcoin and Gold ATM
Bitcoin ATMs aren’t very new. But a bitcoin and gold ATM is revolutionary. If you are one of the many people who still need to conduct any amount of business in cash, it’s worth looking for your nearest bitcoin and gold ATM, to ensure you always have a way to invest and liquidate whenever necessary. Looking for more tips like this? Visit our blog now to keep reading.