Buying silver using the bitgold platform??

anthony28anthony28 Posts: 43 Copper ✭✭
Does anybody know if there is a plan to be able to buy silver using bit gold in the future?

Love using bit gold but would like to be able to buy other precious metals too as easy as it is to buy gold.

Comments

  • pollebossepollebosse Posts: 2 Tin ✭
    I also want to do that.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,779 Gold ✭✭✭✭✭
    edited February 2016
    @anthony28 @pollebosse You can only buy gold in regards to having it stored in the vault for free and to use on your bitgold prepaid card. However if you are interested in ordering physical silver to your home BitGold is already offering that under the "redeem" option. After selecting redeem then click on physical gold then click on bitgold cubes & coins where you can scroll through all the offerings. (silver bars are near the end) For silver their current offerings are 1 ounce silver maple leaf coin, 1 ounce bars, 10 ounce bars and 100 ounce bars. I redeemed some of my gold for physical silver already and I am happy as the pricing is better than anywhere else is offering and my first shipment arrived quicker than what I was expecting.
  • AUstackerAUstacker Posts: 21 Tin ✭
    Very cool answer BigD-----thanxxxxxxx
  • golden_grgolden_gr Posts: 664 Bronze ✭✭✭
    @anthony28
    As @BigD wrote, at the current time you can only redeem your BitGold gold for physical Silver :)
  • anthony28anthony28 Posts: 43 Copper ✭✭
    @bigd thanks for the reply.
    I know that we can redeem our gold balance as silver. I'm just wondering if there are future plans to be able to buy silver on the platform like we currently do with gold.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,779 Gold ✭✭✭✭✭
    edited February 2016
    @anthony28 I doubt it. The thing with gold is that it is so very dense that a large weight takes very little room to store. Considering silver takes a lot of room I doubt they could ever do this with silver while also offering free storage and insurance. 1% in and 1% out on silver with free storage and insurance they would never be profitable.

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