Bitcoin with Ainslie Bullion

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

Why Bitcoin?

Bitcoin 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 wih options to protect and grow their wealth outside of financial markets and banks holding that promote 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 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 Bitcoin / crypto currencies that are sitting on enormous gains and are now looking to invest these gains elsewhere. Buying gold and silver with your Bitcoin / crypto currency means you achieve 2 things:

  1. You defer any capital gain event as you are not selling your Bitcoin / crypto currency; you are spending it.
  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 and other crypto’s 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 Bitcoin / crypto currencies with Ainslie.

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

Let’s Break those down..

  1. Buying Bullion with Bitcoin

You can pay for your bullion purchase using your Bitcoin (and can ask about other crypto currencies as well) either when buying online, in store or by phone.

Once we know your Aussie dollar purchase total we simply convert it to the Bitcoin equivalent when we process the order and you transfer that amount of Bitcoin to us either in person (if in store) or using the wallet address we email you.  Bitcoin 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.

  1. Receiving Bitcoin when selling your bullion

If you want to sell some of your bullion and receive all or part of the proceeds in Bitcoin 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 and transfer it to your wallet either using your phone device, address or QR scan.

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

  1. Buy & Sell Bitcoin directly

You can buy and sell Bitcoin 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 wallet and complete the transfer right in front of you.  If you already have a Bitcoin wallet and want to buy and sell through us regularly, this is also possible and can be completed with ease.

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.

  1. Buy & Sell Bitcoin with Ainslie storing it for you.

Don’t want to be managing your own wallet?  An Ainslie Bitcoin Storage account could be ideal. You can purchase and sell Bitcoin 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.