Buy Silver online
Just like gold, silver has been valued as a currency and precious metal for millennia. It’s shiny, can be made into beautiful things, and can’t be faked or manufactured.
Buying silver traditionally means one of two options:
- Buy a 'paper' version of silver as an Exchange Traded Fund (ETF), futures contract or shares in a store/source of silver (like a silver mine), or;
- Buy physical silver and arrange collection/storage.
The paper version of silver can be complicated, meaning you need to understand how the ETF transactions work. With physical silver, you've got to work out how and where you'll store it, which can be an expensive challenge
With Uphold, you get the best of both worlds.
What’s the silver price today?
The silver price changes continuously because it's one of the most heavily traded metals.
- Silver often follows the price of gold. So when gold goes up, silver often goes up, too. Considered a store of value, investors typically turn to silver in times of crisis.
- Silver production can be a by-product of other metals since it naturally occurs in this way. As metals like copper are mined, silver appears as a natural by-product.
- Silver has many uses, especially in batteries, solar panels, and electronics.
What the bears are saying
- Silver is volatile: One of the biggest dangers of silver is that price fluctuations can be less predictable than other commodities. Global demand can influence its value, and you may not be as easily able to predict what’s happening, which can lead to surprise losses.
- It’s expensive to store: Physical silver is difficult to store safely at home and requires secure custody. Unsecured, it’s easier for thieves to steal than a telly.
- Silver can’t be easily taken across borders: Unlike cryptocurrency, silver is not portable in any quantity as a source or store of value if you're faced with a personal or country-wide crisis.
What the bulls are saying
- Silver performs well in bull metals markets: Gold is always the metal people think of in booming metals markets, but silver often outperforms gold.
- Silver reserves across the world are lower now: While gold is held in vast quantities by governments, silver isn't.
- Silver demand is growing: We're heading towards an electronic future. With the massive growth in solar panel, battery, and electric car production (as well as computers, smartphones, tablets, and TVs), there’s no slowdown likely for silver demand anytime soon.
How easy is it to buy silver with Uphold?
Ever used internet banking to transfer money from one account to another?
It's as easy as that to buy silver with Uphold. Here's how:
Go to Uphold.com and click ‘Sign up’.
- Enter your email address and personal details and create a password
- Verify your email address.
- Your account will be created instantly and you can start using Uphold.
In the rest of the world, you can use a debit or credit card, or crypto wallet on seven networks.
In Europe and the United States, you can transfer money directly from your bank account or debit card into Silver. No intermediate currency conversion.
Uphold’s ‘Anything to Anything’ trading experience will make any currency exchange a seamless, commission-free process.
This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors.
This content is correct as of October 2020
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