Buying Your Jewellery With Cryptocurrency
Using cryptocurrency to buy your gold jewellery allows you to securely and conveniently make a payment without worrying about exchanging currencies, transaction costs or data breaches. Though cryptocurrency is a relatively new method of payment, we’re starting to see more and more customers asking about buying gold using digital currencies.
Good news - with Hatton Jewellers, now you can use cryptocurrency to buy your jewellery with us! We’ve partnered with Utrust to enable our customers to buy jewellery using Bitcoin, Ethereum and more, ensuring you can enjoy the many benefits of buying with cryptocurrency.
In this blog, we explore how to use cryptocurrency to make a jewellery purchase and the advantages of using cryptocurrency.
What Are Digital Currencies?
Digital currencies, often referred to as cryptocurrencies, allow you to make payments from anywhere in the world instantly and securely.
As the name suggests, digital currencies only exist digitally. As it isn’t a physical object, digital currency can only be managed and transferred using online systems. Cryptocurrency lets you cut out the middleman associated with traditional, tangible currency - thus reducing transaction costs.
All cryptocurrency transactions are saved in a public ledger which means that transaction paths can be traced. However, all identities and cryptocurrency balances remain anonymous. This means personal data is not shared online, making digital currencies a safe and secure way to make payments.
The Benefits of Buying Gold Jewellery With Crypto
Unlike traditional payment methods, such as using credit cards, you never share your personal information online when using digital currencies. This extra layer of security makes it even safer to use cryptocurrency, as there’s no way for anyone to track your shopping habits!
Your crypto payments will be registered immediately, with all transactions saved in a public ledger for full transparency. As transactions are protected by high-level encryption, you can enjoy full security and peace of mind that a strong level of fraud prevention is in place to keep your currency secure.
Easy global payments
Using a digital payment platform such as Utrust is easy and comes with a whole host of benefits. You can pay with any wallet, no matter where in the world you’re based.
Avoid unnecessary fees
You don’t need to worry about cross-border fees or exchange rates - cryptocurrency makes it easy and cost-effective to shop from anywhere in the world.
Cut out the middleman
With most traditional currencies, your funds are essentially looked after by a third party. Accounts can be closed, credit can be refused and additional processing fees or commission can be included. With cryptocurrency, you’re the sole owner of your digital assets.
Transactions are quick and straightforward
Buying with crypto can be simple - it’s essentially a digital transfer from one wallet to another, so the transaction can happen almost instantly. You often don’t need anything except your computer or smartphone.
Chance to increase your digital assets
The crypto market can provide a fantastic opportunity to grow your assets with relatively little effort. Investing in crypto can be a risk, but you can enjoy a serious return on that investment if you buy and sell at the right times.
Where Do I Keep My Cryptocurrency?
Cryptocurrency is typically kept in 'wallets’, which store the keys (passwords) that allow you to access your funds; they safeguard your private keys so you are always in full control of your crypto.
Hot wallets can be accessed via a digital device such as your mobile phone, whereas cold wallets are offline physical devices such as USB sticks - less convenient, but much harder to hack.
Where Can I Spend Cryptocurrency?
There are many different ways to spend cryptocurrency. You can use a crypto exchange to convert your crypto back into cash, or exchange your virtual currency for goods or services when buying through a reputable online retailer or payment gateway.
Just some of the items or services people pay for using cryptocurrency include:
- Charitable donations
- Household bills
- Luxury items such as diamond rings or gold chain necklaces
- Cars - Tesla being the most highly publicised
- Fast food and restaurant meals
- Event tickets
The Best Cryptocurrency to Invest In
There are nearly 14,000 different cryptocurrencies out there, with the most established being Bitcoin, Binance Coin and Ethereum. Make sure you do your research and understand the ins and outs of investing in cryptocurrency before going ahead.
Once you’re ready to spend your cryptocurrency, it could make sense to buy a tangible item that works as a future investment too. Gold could be a great investment opportunity as it’s not likely to depreciate in value, which makes it a popular purchase for those looking to grow their asset portfolio.
How to Spend Cryptocurrency with Hatton Jewellers
Buying gold jewellery with cryptocurrency couldn’t be simpler when you complete your transaction here at Hatton Jewellers.
Step Two - Add your chosen gold jewellery to your shopping basket and checkout
Step Three - When you get to payment options, select Utrust crypto payment
Step Four - Make payment via your preferred cryptocurrency using the Utrust website. Currently Utrust accepts Bitcoin, Ethereum, Tether and Dash.
Step Five - Wait for your purchase and enjoy!
Can I Buy Any Gold Jewellery with Hatton Jewellers?
Absolutely! Whether you’re on the hunt for a cool iced-out pendant or you’re searching for the perfect Christening gift, we’ve got a vast selection of gold jewellery for you to choose from. You’re able to pay for any of our items with cryptocurrency, including our new collection of engagement rings!