Paxful sells gold for bitcoins. Everything you need to know
Although the gold standard is considered a relic of the past, people still believe in this valuable metal and willingly acquire small ingots. Many believe that it is gold that will help survive the onset of the crisis and withstand even the most serious economic failures. This really has logic. Which is why the Paxful trading platform today launched a functionality that allows you to change cryptocurrency to gold. Let’s discuss this event, tell you whether it is worth buying gold for Bitcoins and, in principle, evaluate this opportunity. So let’s get started.
A bit about the site and the proposal
Paxful is a P2P trading platform that allows you to work productively with the first cryptocurrency. In its blog today, the company announced the opening of the GOLD / BTC currency pair. According to company representatives, each investor needs to prepare for an economic recession. One of the most effective preparatory measures is to allocate a financial portfolio to reliable assets. One of these is gold, which is actively being bought in anticipation of the crisis. It is noteworthy that Paxful provided such unusual functionality first. Before them, no company dared to start working with gold and crypto in P2P format. There is no question of Paxful reliability. This is a serious platform with serious customers who regularly use the site to work with Bitcoin. The main focus is precisely operations with the first cryptocurrency, so this is an ideal solution for those who really love and believe in Bitcoin. But is it worth it to work with gold? Let’s get it right.
What exactly does Paxful offer?
The new service is already available for customers from all over the world, there are no regional and other restrictions. After purchasing a certain lot of gold at BTC, the transaction is concluded and frozen until the customer receives his own purchase. They promise to deliver gold to anywhere in the world in 21 days. This is a very convenient format, as many other companies offer to buy gold, which is stored in separate vaults. Such a system is significantly inferior in reliability and forbids a person to independently dispose of their precious metals.
Of course, to verify the identity and ensure a fair transaction, it is necessary to pass verification. The KYC procedure includes several basic information that is necessary both for the legal conduct of tenders and for quick sending of an acquisition to an address. It is noteworthy that there is no limit on the size of the transaction. You can buy both 1 gram and several kilograms of gold. It all depends on the client’s budget. In the near future, Paxful plans to add some more interesting currency pairs. But the details are still secret.
Is it worth it to work with gold? Objective assessment
Even the most dedicated crypto enthusiast cannot deny the fact that there are financial assets that are several times more reliable than the beloved cryptocurrencies. This, of course, is about gold and the American dollar. They try to invest in them as soon as the situation in the world loses stability. That is why for all those who want to distribute their financial portfolio and survive the crisis, gold is a good solution. Of course, buying metal for all capital is not worth it. Remember that gold is hard to speculate. The asset does not change much in price. Which means it will not work immediately to earn a large amount. Use gold and dollar as the foundation for working with cryptocurrencies. A similar strategy is well balanced. It will help to make a profit both in the short and long distances.
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