Gold is one of the oldest known valuables in the world, and one that has consistently increased in value over time, despite the changes in the economy. We are happy to offer you an opportunity to sell bitcoins for gold. Here’s everything you need to know about trading with gold.
Before you start selling bitcoin for gold, make sure you have the means to check the quality of the gold before you make the payment. Whether you choose the gold to be sent to you by mail or delivered in person, you still must ensure minimal risk.
Don’t hesitate to request any additional documentation or proofs such as:
- Proof of purchase (a receipt).
- Certificate of authenticity for the gold item.
- Photo of your trade partner's ID.
- Photo of the actual gold item.
- The tracking number issued by the parcel service (in case the gold is being shipped to you directly).
Searching for an offer
The first step to selling bitcoins for gold is to look for an offer that accepts this type of payment. You’ll also need to enter the amount of gold you wish to purchase and the currency you prefer.
Choose the best rate of bitcoin to have the highest profit possible. Also, pay attention to the reputation of your potential trade partner and choose the location carefully, to ensure that your trade partner will be able to deliver the gold to you. And finally, read through the offer terms and trade instructions carefully.
Talk to your trade partner in the trade chat. Clarify how the gold will be delivered to you and yourself decide whether you are okay with the product before proceeding.
- Prefer public places for trades in person.
- Use trackable shipping methods for delivery by mail.
Creating an offer
To sell bitcoin for gold, you can also create your own offer.
Here are a few things to keep in mind:
- Set a margin you find profitable as no negotiations are allowed during the trade.
- Write clear offer terms and instructions.
- Be clear about what proofs of payment you expect for the gold you are accepting.
- For in-person trades, be very clear about the meeting location and exchange procedure.
Once you’ve created and published your personalized offer, wait for a buyer to start a trade with you. Once a trade has started, you will receive a notification. Feel free to discuss all the necessary details with your trade partner on the trade chat, and proceed with the trade accordingly.
Completing a trade
Once the buyer has paid you and marked the trade as Paid, they will have 21 days to deliver the gold to you either by post or in person. If you do not confirm receiving goods within this timeframe a dispute will start automatically and our moderators will step in for assistance.
Note: Calculation of 21 days starts from the moment the trade is marked as Paid.
Once you’ve received the gold, you can release the bitcoins from the trade escrow. Click Release bitcoin button only if you are absolutely sure about receiving the payment. Remember that bitcoin transactions are final and irreversible.
After a trade
Once the trade is completed, you can leave appropriate feedback for your trade partner. Also, if you like trading with the user, you can add them to your trusted list.
ID and address verification
Another important aspect to consider is your ID and address verification. You must complete your ID verification and address verification to trade with gold. This verification is important to protect our bitcoin sellers from any fraudulent activity. Therefore, it is not possible to trade bitcoin for gold or vice versa without being fully verified on Paxful.
Note: Full verification is mandatory for offers and trades that start from 50 USD.