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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.
Onegold Now Accepts Cryptocurrencies
Cryptocurrency proponents can now purchase digital gold and silver bullion products on the Onegold platform using BCH and BTC. Onegold is a blockchain-based platform that stores precious metals and allows customers to redeem their digital bullion holdings at any time. The concept was created by the precious metals e-retailer Apmex and alternative asset manager Sprott. Their recent decision to support BCH and BTC is due to a partnership with Bitpay which already has a prior relationship with Apmex.
“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.
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.
International Bullion Buyers Are Interested in Alternative Payment Methods
Ken Lewis, chief executive officer at Onegold, explained that credit card chargebacks were one of the big reasons the company chose to accept BCH and BTC. Because the digital assets act like cash and are a “push transaction” system, users need to pay for products up front, making traditional fraud cases much harder to accomplish. Lewis also detailed that blockchain payments provide greater accountability and some international buyers are more apt to purchase Onegold’s collateralized assets using cryptocurrencies.
“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 Cryptographically Secured Metals Are Better Than Exchange-Traded Funds
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.
Carl Icahn revealed an 8.3% stake in DVMT and says he plans to vote against Dell’s plan to buy the stock as part of a deal intended to return Dell to the public markets.
WSJ.com: US Business
Netcoins, an over-the-counter (OTC) brokerage and virtual ATM software company, announced this week it was enabling bitcoin cash (BCH) for immediate access purchase. For BCH enthusiasts, that’s 21,000 locations, covering Canada, Europe, and Australia where the decentralized currency is now available.
21,000 New Locations to Buy Bitcoin Cash
“Adding BCH brings us to having 6 of the top 7 coins available via Netcoins. With just EOS left among the top 7 coins, we are giving investors a compelling reason to use the Netcoins network for all their crypto needs, whether via OTC or via our strong retail network,” announced Netcoins CEO Mark Binns.
Netcoins has been around for three years, and is from Vancouver, Canada, where it initiated its virtual ATM business in 2015. “Merchants from all over the world can sign up for the Netcoins service and be provided with a platform that allows them to have a Bitcoin ATM without having to buy a machine. The application can work on a smartphone or tablet allowing merchants to offer the sale of Bitcoin without the substantial costs involved with the purchase of a device or the physical space needed within the store,” we profiled previously.
For BCH, it’s another adoption score, one in a string this year. Netcoins services 21,000 retail locations throughout Canada, Europe, and Australia. In its announcement the company promised immediate access to purchase BCH through its OTC Private Brokerage Services.
Adoption Milestones Keep Coming for BCH
Just days ago, these pages reported how “the Atlanta-based firm Bitpay announced that its merchants can now receive settlement in bitcoin cash (BCH). Not only can Bitpay merchants accept the decentralized digital currency and keep all the bitcoin cash, but they can also split their funds into a fraction of fiat and BCH as well,” a significant step for merchants tired of changing out from bitcoin core (BTC) back into BCH after settling.
And a week prior to the above, “a new bitcoin cash SPV client available called Pixel Wallet that provides users with the ability to attach BCH transactions to pictures” was released. “Basically, bitcoin cash users can send BCH transactions in a steganographic manner with the wallet hiding funds in plain sight. Pixel Wallet was initially announced and launched on the BCH testnet during the first week of August, and the project’s developers explained the application would be the first of its kind.”
Netcoins appears to be doing well during an extended bear market. They announced this summer pushing through more than $ 2 million worth of transactions in a 24-hour period, capping a vibrant month for the outfit of over $ 5 million in transactions total.
Are OTC virtual ATMs good for the ecosystem? Share your thoughts in the comments section below!
Images courtesy of Shutterstock.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post 21,000 New Locations Across Canada, Europe, Australia to Purchase Bitcoin Cash appeared first on Bitcoin News.
The German government has decided to ban for the first time the sale of a German company, Leifeld Metal Spinning, to a Chinese suitor on security grounds.
WSJ.com: What’s News Europe
Time Warner Inc. is no more.
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Diddy’s got a keen eye for fine art, and his historic purchase of a Kerry James Marshall painting is a huge score for him and a bigger score for the artist … according to a famous expert. Brett Maly – the fine art appraiser from “Pawn…
The chairman of the economic committee of Iran’s parliament has revealed that Iranians have sent more than $ 2.5 billion out of the country to purchase cryptocurrencies with. His statement follows the country’s central bank banning local banks from dealing with digital currencies including bitcoin.
$ 2.5 Billion Capital Flight
Mohammad Reza Pourebrahimi, the Chairman of the Economic Commission of the Parliament of Iran, was quoted saying last week by Ibena.ir news agency:
Based on the existing data, few people in Iran are cryptocurrency users and more than 2.5 billion dollars has been sent out of the country for buying digital currencies.
He previously told Isna newspaper that Iranians had transferred $ 30 billion out of the country over the few months ending March. “Iranians do not have access to the international banking system and the transfers can only occur through unconventional ways, such as exchange dealers or international travelers,” Radiofarda explained.
The chairman’s statement came on the heels of the Central Bank of Iran (CBI) banning banks and financial institutions from dealing with cryptocurrencies, citing money laundering and terrorism financing risks.
Iran’s National Cryptocurrency
Iran’s Information and Communications Technology (ICT) Minister, Mohammad Javad Azari-Jahromi, recently confirmed that an experimental local cryptocurrency has been developed and a test model was ready.
However, in an interview with Ibena.ir last week, Pourebrahimi said that “No virtual national currency has been designed in the country at the present [time].”
Nonetheless, he explained that Iran’s national crypto can “facilitate economic deals and circumvent sanctions,” the news outlet conveyed. Citing that “the future of the world economy will be done on digital currencies,” the chairman was quoted asserting that the national cryptocurrency “can pave the path for multilateral currency swap agreements between Iran and countries which are enthusiastic to have economic cooperation with Iran but they couldn’t have it so far owing to the sanctions.” He also elaborated:
The structure of the cryptocurrency should be suitable for economic activity and be acceptable at the international level simultaneously.
Pourebrahimi believes one of the benefits of cryptocurrencies “is [the] absence of [the] American regulator,” which he admitted can circumvent sanctions. His statement echoes Azari-Jahromi’s statement made last week that “All cryptocurrencies have the ability to circumvent sanctions because they are not under the supervision of the US financial regulator.”
Meanwhile, U.S. President Donald Trump has withdrawn the US from the 2015 Iran nuclear deal by restoring sanctions on Iranian oil exports.
What do you think of Iranians spending $ 2.5 billion to buy crypto abroad? Let us know in the comments section below.
Images courtesy of Shutterstock and Azernews.
Need to calculate your bitcoin holdings? Check our tools section.
The post $ 2.5 Billion Sent Out of Iran to Purchase Cryptocurrencies appeared first on Bitcoin News.
Justice Department makes final plea to judge to halt AT&T’s proposed purchase of Time Warner or significantly scale it backApril 30, 2018 | dailybusinessnews
The government on Monday made its final plea to a federal judge to block AT&T Inc.’s $ 85.4-billion purchase of Time Warner Inc. or order it significantly scaled back, arguing that the combined company would be so powerful it would hinder competition and raise pay TV prices for consumers.
Marcus Davenport was the 14th pic in the NFL Draft and is now slated to make MILLIONS! So, what’s his first big purchase??!? Mickey D’s, baby!!! The New Orleans Saints newest defensive end was craving some burgers after the draft — and told our…