Topic: How to be safe selling gold for bitcoin? (Read 1350 times)
Using escrow would be best for both parties involved. Ensuring that you have thoroughly looked into the person you are dealing with as well with prevent either of you from being scammed or having any other problems.
If you want trade gold for btc, I suggested you keep the gold and use cash to buy Btc will be more safe.
Are you talking about scam prevention during the trade? Use a trusted third party escrow.
Gold coin would have to be sent to escrow to verify the validity of the gold coin, otherwise the problem would be what xetsr just mentioned. This also implies that escrow would have to be knowledgeable in gold coins.
You can test for real gold by measuring dimensions and the weight, but to be really sure you'll have to use an XRF. These are not cheap, and most coin shops or local dealers should have one. If a local dealer does not have a XRF machine, then you'll know to never buy there.
The best would be using escrow. He will not release the funds until both parties are satisfied with the deal.
This could go wrong a couple of ways. Example: Seller sends real gold, buyer claims fake gold and sends other fake gold back to seller. Seller could also send fake gold and claim gold was real. Who does escrow believe?
Whoever escrows would have to test the gold to confirm it's real.
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This is why you should only buy gold from trusted sellers. I've bought several silver/gold coins and bars on these forums and I've never had any problems.
The best would be using escrow. He will not release the funds until both parties are satisfied with the deal.
This could go wrong a couple of ways. Example: Seller sends real gold, buyer claims fake gold and sends other fake gold back to seller. Seller could also send fake gold and claim gold was real. Who does escrow believe?
Whoever escrows would have to test the gold to confirm it's real.
The best would be using escrow. He will not release the funds until both parties are satisfied with the deal.
Hello I have some gold eagles that I'm wanting to sell for bitcoin.
What is the safest way for all parties involved?
What is the safest way for all parties involved?
Local meet-up at a public place with CCTV and security personnel that actually pays attention. An airport for example. But then the buyer will probably want to have a way to test for fakes...
Also talk to the shops that sell gold for bitcoin.
https://en.bitcoin.it/wiki/Trade#Precious_.26_Base_Metals.2FCoins
https://agoracommodities.com/buying-gold-and-silver-bullion/sell-your-gold-and-silver-for-bitcoin/
Are you talking about scam prevention during the trade? Use a trusted third party escrow.
Don't forget about buying fake / counterfeit coins. You should be very careful if you're not dealing with someone reputable.
Are you talking about scam prevention during the trade? Use a trusted third party escrow.
Hello I have some gold eagles that I'm wanting to sell for bitcoin.
What is the safest way for all parties involved?
What is the safest way for all parties involved?
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