Divestment and diversification – buying stuff with Crypto (Exit strategy? What Exit strategy?)

hyphenated

hyphenated

Active Member
Whew. A long time in the dark. So here we are. Stocks up. Gold up. Bitcoin up. Property prices up. Interest rates hovering at zero. Probably a good time to redistribute, divest and diversify in a planned manner (ho ho).

I’ve been digging for ways to make crypto purchases of PMs and other tangibles in Oz; here is a rough list so far:

Ainslie Bullion – direct purchase of PMs and bullion, minimum $2,000 for Crypto; multiple crypto options and bidirectional.

ABC Bullion – INDIRECT Crypto purchase (Living Room of Satoshi payment of BPAY invoice from ABC). LRoS are versatile (any BPAY can be paid), but pricey – they operate on transaction spread, which clocks in around 5% in my experience.

KJC Bullion. Use BitPay in the payment chain.

Ace Jewelers (Amsterdam) High-end watches and Jewellery. Bear in mind there will be international shipping and GST to pay. Looks like undiscounted watch prices, although some of their second-hand stuff looks close to market rate. Use BitPay in the payment chain.

All require ID, but have a pretty easy online system.

Bitpay cite a few more online sites with different specialities, in theory any site operating on BPay could be used with LRoS. I am ignoring US sites that either would require transhipping or incur taxation.

Any other PM purveyors in Oz?
 
STC said:
Don’t forget to pay your bills, power/rates etc. Anything with a BPAY number can be paid via https://www.livingroomofsatoshi.com/
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There appear to be plenty doing just that (with a couple of stand-out big transactions) - but I don't want to be cashing up Crypto - I want to keep it as purchases for personal use.

Hmmm. I wonder how many house purchase transactions can use BPay :) Oooh - you can pay Stamp Duty using BPay in QLD...
 
I have a fine pair of alpaca socks that I bought for 2Btc because I got free post from USA if paid by crypto.
No tax if paying bills with crypto, you bought it as a payment vehicle & not your fault it’s price rose.
 
STC said:
I have a fine pair of alpaca socks that I bought for 2Btc because I got free post from USA if paid by crypto.
No tax if paying bills with crypto, you bought it as a payment vehicle & not your fault it’s price rose.
Click to expand...
The ATO may beg to differ, but I like the cut of your jib.
 
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