Bitcoin with Ainslie Bullion

Ainslie now accepts Bitcoin, Ether and Litecoin as currency for buying and selling bullion. You can also buy and sell Bitcoin, Ether and Litecoin directly with Ainslie, without any bullion involved.

Why Bitcoin?

Bitcoin, Ether and Litecoin and other ‘crypto currencies’ are an emerging form of alternative money and investment class.  Their popularity is growing as more and more people lose faith in fiat currencies, financial institutions and debt inflated financial markets.  Whilst we don’t believe they yet present the same fundamental monetary properties of gold and silver, we’ll note that 5000 years ago the same may have been said for gold and silver.

Ultimately Ainslie Bullion wants to provide customers with options to protect and grow their wealth outside of financial markets and banks holding fiat currency.  The former has been artificially inflated by monetary stimulus since the GFC, and the latter debased and destabilised by it.  We encourage everyone to read Why Buy Bullion for more information on this topic.  Many believe Bitcoin, Ether, Litecoin and other crypto currencies are still at formative prices and the gains have only just begun.  Ainslie provides an exceptionally easy platform for you to enter this market.

We also appreciate there may be many holders of crypto currencies (Bitcoin, Ether and Litecoin) that are sitting on enormous gains and are now looking to invest these gains elsewhere. Buying gold and silver with your crypto currency (Bitcoin, Ether and Litecoin) means you achieve 2 things:

  1. You defer any capital gain event as you are not selling your Bitcoin, Ether or Litecoin; you are spending it (limits may apply, refer to your accountant or ATO)
  2. On any dispassionate look at the charts, it would appear gold and silver are coming up off (or close to) a bottom whilst Bitcoin, Ether and Litecoin have had an incredible run up in price of late.  Some may be motivated by a sell high – buy low play, some may just want to hedge, or take a little profit.  Only you can know.

To learn more about what Bitcoin is, go to our Bitcoin FAQ’s here.

How we do it

You have four options to trade with crypto (Bitcoin, Ether and Litecoin) with Ainslie.

  1. Buying Bullion with Bitcoin, Ether and Litecoin
  2. Receiving Bitcoin, Ether and Litecoin when selling your bullion
  3. Buy & Sell Bitcoin, Ether and Litecoin directly
  4. Buy & Sell Bitcoin, Ether and Litecoin with Ainslie storing it for you.

Let’s Break those down..

  1. Buying Bullion with Bitcoin, Ether and Litecoin

You can pay for your bullion purchase using your crypto (Bitcoin, Ether and Litecoin) either when buying online, in store or by phone.

Once we know your Aussie dollar purchase total we simply convert it to the Bitcoin, Ether or Litecoin equivalent when we process the order and you transfer that amount of Bitcoin, Ether or Litecoin to us either in person (if in store) or using the wallet address we email you.  Crypto payments are essentially immediate and we will email you your paid invoice once confirmed.  For larger purchases we may choose to wait for more confirmations which can take a little longer.

2. Receiving Bitcoin, Ether or Litecoin when selling your bullion

If you want to sell some of your bullion and receive all or part of the proceeds in Bitcoin, Ether or Litecoin you can do so either in store or by phoning us within business hours to arrange.  Once we have arrived at an Aussie dollar amount we simply convert it to Bitcoin, Ether or Litecoin and transfer it to your wallet either using your phone device, address or QR scan.

If you don’t already have a crypto wallet we can easily set this up for you in store.

3. Buy & Sell Bitcoin, Ether or Litecoin directly

You can buy and sell Bitcoin, Ether or Litecoin directly through us either in store, online or over the phone.  If this is your first time, come and visit us and we can set you up with your own Bitcoin, Ether or Litecoin wallet and complete the transfer right in front of you.  If you already have a crypto wallet and want to buy and sell through us regularly, this is also possible and can be completed with ease.

We note the public/shared wallet address on your invoice making proof of ownership easy for auditing (especially good for SMSF's) and also topping it up without needing to come into our office.

Once you’ve set up your wallet you may want to store it completely offline, ensuring your privacy and security. Safe deposit boxes are available at Reserve Vault for only $230/year.  Ask us how secure storage could be perfect for you.

4. Buy & Sell Bitcoin, Ether or Litecoin with Ainslie storing it for you.

Don’t want to be managing your own wallet?  An Ainslie Crypto Storage account could be ideal. You can purchase and sell Bitcoin, Ether or Litecoin
whenever you wish and we look after the storage, safely offline and stored securely.

Just like storing bullion in an Ainslie Storage account you will receive an updated certificate of holding with each transaction.  Come EOFY we can also provide a statement of holding for your accountant, especially handy and transparent for SMSF investments.