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GOBankingRates spoke with precious metals experts to learn the five steps to safely buy gold online.
Also seesix reasons gold is a better investment than Bitcoin.
Is the company well reviewed, and does it come highly recommended?
The standard advice to check reviews and ask your peers applies here as well.
Perform due diligence on them, said Alex Ebkarian, chief operating officer and co-founder ofAllegiance Gold.
Investigate their track record, ensure transparent pricing and their history of delivering genuine products.
In terms of conducting due diligence, thats not all you should do.
You also need to do the following, according to Ebkarian.
Verify the Authenticity of the Gold
Gold bars and coins have special distinctions that reflect their authenticity.
you should probably know what these look like and how to identify them.
Look forrecognized hallmarks or mint markingson coins and serial numbers on bars, Ebkarian said.
Consider using a trusted third-party assay service to verify purity and authenticity.
Some scammers create fake websites that mimic well-known brands, Elliott said.
In general, retailers are unable to offer precious metals below spot value without taking a substantial loss.
If a deal seems too good to be true, it is.
And double-check you have a place to safely store your gold.
Post-purchase, keeping your gold safe is paramount, said Miraj Ladwa, director atBullion Giant.
Many secure vaults offer bank-grade security, often requiring ID, fingerprints or facial recognition for access.
This step ensures your investment is protected in the long term.
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