Bitcoin users can now purchase a variety of precious metals, bullion, coins, bars and numismatics products from the popular online dealer Apmex. The firm announced accepting bitcoin on December 8 and said they are “thrilled to welcome the use of cryptocurrency.”
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Bullion Dealer Apmex Accepts Bitcoin for Over 10,000 Products
Apmex is a well-known online precious metals dealer that has sold billions worth of bullion since its inception in 1999. The company was founded by Scott Thomas when he formed the American Precious Metals Exchange, and the name was shortened to Apmex in 2004. The company’s website says they offer over 10,000 precious metals products from a vast array of mints. Now with help from Bitpay, the firm will allow customers to use bitcoin for gold, silver, and other metal purchases.
“Buyers can make purchases with bitcoin at any time, from nearly anywhere, just as with most credit cards,” explains Apmex.
International orders become significantly easier as cryptocurrencies like bitcoin are accepted worldwide without conversion. Also, many customers prefer bitcoin payments because of the anonymity offered by a blockchain purchase.
For a Limited Time, Apmex Plans to Provide a 4% ‘Cash Discount’ for Bitcoin Sales
Apmex says bitcoin orders will be processed within one business day after the transaction confirms on the blockchain. Moreover, the bullion dealer details that for a limited time all bitcoin orders will receive a 4 percent cash discount that is typically given to wire transfer customers.
“As bitcoin becomes more popular and widely accepted as payment, we are thrilled to welcome the use of this cryptocurrency for buying Gold, Silver and other Precious Metals by integrating Bitpay into our website,” Apmex details in its blog post.
Some People Believe Gold and Bitcoin Have Joined Forces to ‘Destroy the Fiat Regime’
Apmex will join the growing list of precious metals dealers that accept bitcoin for payment. This includes JM Bullion, Provident Metals, Sharps Pixley, American Bullion, Amagi Metals, Roberts and Roberts Brokerage and many more. Even the ‘gold bug’ Peter Schiff who recently said bitcoin would be worth “zero” someday partnered with Bitpay in the past and sells precious metals for bitcoin.
Further, many believe bitcoin and precious metals are forming a symbiotic relationship. The ideologies of why people hoard both gold and digital assets are sometimes mutually exclusive. For instance, the financial analyst and ‘gold bug’ Andy Hoffman says bitcoin and gold are “allies” in his article ‘Precious Metals and Bitcoin: Twin Destroyers of the Fiat Regime.’
Across social media and forums, bitcoin proponents seem pleased that Apmex now accepts bitcoin among the other bullion dealers worldwide. Individuals who appreciate the hedging benefits of both bitcoin and gold will likely continue to enjoy precious metal companies choosing to accept the digital asset.
What do you think about Apmex accepting bitcoin for gold, silver, and other products? Let us know in the comments below.
Images via Pixabay, and Apmex.
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