With the rise of cryptocurrencies, more people are looking to invest in digital assets like bitcoin and ethereum. However, purchasing digital gold online offers the stability of a time-tested asset along with the convenience of an online transaction. In 2021 alone, over 4.2 million Americans purchased gold bullion coins and bars. It is, therefore, crucial to know the best place to buy gold and silver online. This comprehensive guide will walk you through the top places to buy gold online safely and securely.
Choosing Between Dealers, Exchanges, and Apps
When looking to buy gold online, you’ll encounter three main options: dealers, exchanges, and mobile apps. Dealers sell coins and bars directly to customers from their own inventory. Exchanges connect buyers and sellers more like a commodity trading platform. Mobile apps also facilitate transactions and storage. Each option has pros and cons to weigh.
Dealers offer guidance and personal service but tend to have higher premiums over the spot gold price. Exchanges provide access to trading and competitive pricing, but force you to store your gold yourself. Apps make purchasing and ownership easy through integration and convenience, but security and control could be less robust compared to the alternatives.
Top Gold Dealers
Purchasing from recognized gold dealers ensures you get legitimate products. Reputable dealers like the following have extensive experience and strive to put customer needs first.
As one of the largest precious metals retailers in the U.S., APMEX offers an exceptionally wide variety of gold products to buy online. Their selection includes coins, bars, rounds, and more from mints around the world. APMEX also has a full-service trading desk for large volume buyers.
JM Bullion focuses exclusively on gold, silver, platinum, and palladium. They provide among the lowest prices in the industry by eliminating middlemen and working on tight margins. JM Bullion operates its own manufacturing as well to cut costs.
SD Bullion prides itself on its extensive inventory, ensuring popular products are always in stock. Their website also has highly detailed information about investing in precious metals for first-time buyers. SD Bullion also offers financing options which most dealers do not provide.
Top Gold Exchanges
You can also purchase gold online through exchanges. These facilitate digital transactions and storage of your bullion for greater flexibility. Some top exchanges include:
GoldSilver makes buying, selling, and taking delivery of physical gold easy through online access to their trading exchange. They provide transparent and competitive pricing with modest fees. Statements and vault reports give you up-to-date information on your holdings.
Based out of the UK, BullionVault serves over 80,000 customers in 200 countries. Their daily trading volumes exceed $23 million, making them one of the most liquid exchanges globally. BullionVault also segregates client assets and publishes real-time audit reports for full transparency.
Goldmoney sets itself apart by allowing customers to redeem their online gold holdings for physical gold delivered to their home. They also provide clients a Mastercard debit card that can draw from their account balance. This unique integration makes Goldmoney suitable for active traders and investors.
No matter what exchange you choose, be sure to research security practices and access policies before transacting or storing significant assets there.
Top Gold Buying Apps
Innovative mobile apps are making purchasing gold easier than ever before. Top gold app providers include:
Glint allows users to buy, sell, save, and spend digital gold through their app. Your balance is redeemable upon demand for physical gold. Glint provides both flexibility and security with physical storage vaults and insured deposits.
The free trading app Robinhood provides access to buy, sell and track pricing for gold and gold mining stocks. You can start investing with as little as $1. Robinhood uses tight spreads and transparent order execution for competitive pricing on gold transactions.
Based in Singapore, Gold Bee allows you to invest in gold or purchase gold jewelry through their app. All gold bought through Gold Bee is stored in secure partner vaults. The app also rewards users with points and discounts.
Be sure to review credibility, security, fees, and convenience when selecting a gold app. Features like buyback programs and debit cards can also increase your flexibility.
Finding the Best Place to Buy Gold and Silver Online
When determining the best place to buy gold and silver online, choose an established provider with a reputation for ethical business practices and outstanding customer service.
Compare product selection, prices, fees, shipping and storage options. If buying in large quantities, seek out deals like free shipping and price breaks. Weigh the pros and cons of dealers, exchanges and apps based on your specific needs.
Purchasing precious metals online comes down to your investment goals, desired flexibility, and risk tolerance. Well-known dealers can help new buyers find appropriate products while providing guidance. Exchanges facilitate trading and competitive pricing at larger scale. Apps offer convenience through integration and access. Whichever platform you choose, select reputable providers to avoid risks from fraud or hidden fees.