Bitcoin.de clients can now buy gold directly through their accounts. This week Europe’s largest Bitcoin exchange implemented an on-site gold market in co-operation with BitcoinCommodities.com. It takes just a few clicks to exchange your digital money for physical gold.
Despite their many differences, Bitcoin and gold share the attribute of limited availability, and are both valued by those who mistrust currencies that have no built-in limits to their supply. For many Bitcoiners, the question is therefore not Bitcoin vs. Euros, but Bitcoin vs. gold. Using bitcoin.de’s gold store it is extremely simple to turn your digital coins into gold.
After logging in, you will find that the gold store offers a collection of offerings from BitcoinCommodities.com. There are two classes of products: bullion and coins. The coins weigh 1 oz and come in several forms: South African Krugerrand, Chinese Panda, American Eagle or the Wiener Philharmonie. The bullion comes from the Perth Mint in Australia and in weights from 5 to 100 grams. The items in the gold store are purchased directly from BitcoinCommodities.com, which has specialised in trading gold and silver against digital currencies since 2011. Besides Bitcoin, BitcoinCommodities.com accepts 24 altcoins.
Bitcoin.de routes customer orders directly to BitcoinCommodities, charging the required funds from the customer account. The gold store is currently only available for verified German customers, but in the near future will be opened to European and unverified customers – with the latter limited to 14,000 Euro holdings.
The on-site gold store represents a collaboration between two of the oldest companies in Germany’s Bitcoin market: both bitcoin.de and BitcoinCommodities.com have been operating since the summer of 2011 and have gained a widespread reputation as trustworthy partners in the Bitcoin trading space.