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