Users Can Now Buy Gold with Shiba Inu (SHIB)

BitPay has provided numerous avenues through which investors can seamlessly purchase gold with Shiba Inu and other cryptocurrencies.

BitPay is committed to offering investors opportunities to make everyday purchases with Shiba Inu and other digital assets. The renowned payment service provider has recently unveiled various methods for investors to buy gold using SHIB and other crypto assets, thereby expanding their options.

BitPay disclosed this in a recent tweet, noting that the payment avenues will give investors an opportunity to purchase the precious metal from any reputable dealer using cryptocurrencies.

Turn your crypto into gold 🏆

BitPay lets you buy gold from reputable dealers with #Bitcoin and #crypto. Whether you want to hedge against volatility, diversify your portfolio, or own precious metals, #BitPay has you covered.

Read more here:https://t.co/B0qWy58Bwz pic.twitter.com/rRVqtDMZtx

— BitPay (@BitPay) April 21, 2023

Seasoned investors often diversify their portfolios by investing in various asset classes, including precious metals like gold and silver. BitPay’s solution caters to crypto investors who share this mindset and allows them to convert their Shiba Inu to another asset class without the need for fiat.

Buy Gold with Shiba Inu Through a Dealer

One of the channels involves purchasing directly from reputable dealers who have partnered with BitPay to accept Shiba Inu payments. Some of these dealers include APMEX, American Gold Exchange, Bullion Exchanges, and Best Bullion.

To do this, users are advised to follow these steps:

• Deposit SHIB to any crypto wallet that supports BitPay. Some of these wallets include Trust Wallet, Ledger, Binance, Coinbase, and others.
• Pick a reputable dealer, and choose gold from the dealer’s platform.
• Select BitPay as payment method at the checkout point.
• Choose the wallet you deposited the assets to and select Shiba Inu as the asset you want to pay with.
• The dealer will generate an invoice which contains a barcode. You can either copy the payment details to the chosen wallet or scan the barcode with the wallet.
• The payment will be processed by your wallet.

Purchase with the BitPay Card

Alternatively, users can purchase gold with SHIB using the BitPay card. This process is more convenient, as it would work with any merchant that accepts Mastercard.

To purchase gold with SHIB using the BitPay card, users should fund their card with Shiba Inu via the BitPay app. They can then proceed to any merchant that accepts Mastercard payments for gold and use the BitPay card at checkout. Although this process appears more straightforward, it may be restricted by the purchase limit set on the BitPay card.

Since adding support for Shiba Inu in December 2021, BitPay has been expanding its partnerships to allow users to make everyday purchases using SHIB and other assets. In August of last year, BitPay partnered with Hublot to allow users to purchase luxury watches with SHIB. Another partnership in June 2022 enabled investors to buy Apple products with Shiba Inu.