Quote from: ecommerce on August 05, 2016, 03:26:55 PM

Quote from: starmman on July 29, 2016, 12:20:28 PM

Quote from: ecommerce on July 29, 2016, 11:56:00 AM

Quote from: starmman on July 28, 2016, 09:09:19 PM

Hello,

I'm thinking about diversifying a small amount of my BTC stock into gold when the market situations are right, but there are so many options I'm not sure on the best way to go about it. I've checked out a few sites and they all claim to have proof of reserve etc, but I've seen similar style claims on many HYIP sites. Are many people using these services, or is it better to convert to fiat first and use an established company with a history longer than BTC and take a hit on the exchange fees?

Which sites ones are generally recommended? I'll obviously be doing further research before taking the the plunge but wondered if anybody could push me in the right direction.

There are a lot of sites out there. Its like a mine field =)

Thanks for your help and advice in advance

Just one question, why you do not buy from physical stores which are more trust-able?

I'm looking at it more as an online investment medium than to physically hold the gold (although price is high right now so not the best time to buy). If you buy from a store (especially where I'm from) you'll pay a premium over the market value, and then you have to physically store the gold yourself which could be a security risk, and if you want to sell the commodity you'd have to then physically go to a store, and they will take a large commission. What most investors do is use a broker to buy and sell the gold and the gold sits in a vault which enables them to buy it in the same way you would buy stock from a stock market (you usually still need to pay a broker fee but the rates will be market rates). I was wondering if there are any service where you can do the same kind of thing in bit coin, because otherwise i'd have to transfer to fiat which incurs a fee and then pay the broker which incurs another fee.

I'm effectively looking to reallocate profits into certain 'buckets' as a means of portfolio diversification, gold is always cheap when the world economy is going well and expensive during a recession. Now is not the best time to invest, but I want to be prepared for when it is.

From that point of view it is right but with recent hacks of trade site you should not trust online shops.

I've decided that for now, the best thing to do is to buy gold with fiat from an established and trusted dealer, and if I use BTC as a mechanism I'll offset my monthly fiat deposit against BTC withdrawal to minimise additional fees.