Online bullion marketplace Onegold announced on Tuesday that its customers can now purchase precious metals with bitcoin cash (BCH) and bitcoin core (BTC). Onegold’s digital silver and gold products are fully allocated physical metals stored at the Royal Canadian Mint and can be redeemed at any time through Apmex.
Also read: Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December
“Bitpay and Apmex have worked together for years, making it easy for Apmex to accept cryptocurrency — When they started Onegold, we were ready to help them accept bitcoin and bitcoin cash through Bitpay,” explained the chief commercial officer at Bitpay, Sonny Singh.
Singh continued:
Cryptocurrency is an ideal payment method for e-commerce and precious metals where the risk of chargebacks, fraud and identity theft with traditional credit cards is high.
“We anticipate a large number of cryptocurrency buyers from international markets, where accepting credit cards is not always practical,” Lewis explained during the announcement. “In addition to helping protect our own interests, adding bitcoin and bitcoin cash to the payment options for Onegold also increases our payment transparency and efficiency.”
Onegold believes that its digital bullion is far superior to gold-backed paper like exchange-traded funds (ETF), such as the gold trust Comex and LBMA Gold. Both products are similar because they can be electronically traded, but Onegold is cryptographically secured by a distributed ledger and has 100 percent physical metal backing.
Onegold customers can redeem their stored assets with the click of a button, and have physical metals shipped to their door by Apmex. Quite a few gold and silver ETFs cannot be redeemed so quickly and some cannot be traded for physical assets at all, making customers settle for fiat. Onegold believes adding the ability to purchase digital metals with cryptocurrencies was the company’s next logical step.
What do you think about Onegold adding BCH and BTC support for digital bullion purchases? Let us know in the comments section below.
Images via Shutterstock, Onegold, and Pixabay.
Need to calculate your bitcoin holdings? Check our tools section.
The post Onegold Customers Can Now Purchase Digital Bullion With Bitcoin appeared first on Bitcoin News.
Source: NewsBtc
In a significant legal development for the crypto industry, Changpeng Zhao, widely known as CZ,…
In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert…
Changpeng Zhao, also known as CZ, the founder and former CEO of Binance, one of…
Crypto investment products are now going through rough times, as shown by inflow and outflow…
American multinational investment company, BlackRock has witnessed a significant lull in investments for its Spots…
The Bitcoin price movement in the past few days after the halving event has left…