Onegold, an online bullion marketplace has on Tuesday, 11th December made a big announcement. Onegold customers can now buy the digital bullion using both Bitcoin core and Bitcoin Cash. Onegold provides its customers with digital gold and silver products. Now, they are fully allocated physical metals kept at the Royal Canadian Mint. In addition to that, they can also be redeemed at any time using the Apmex e-retailer service.
Cryptos Now Accepted By Onegold
Onegold platform now has more options for the customers purchasing items from it. The crypto proponents, for instance, can now use BTC and BCH to buy the digital silver and gold bullion products. Onegold is one of the leading blockchain-based platforms where precious metals are kept. Customers are also allowed to redeem their digital bullions at whatever time. Apmex, an e-retailer for precious metals came up with this concept. They worked together with Sprott, an alternative asset manager. Their recent partnership with Bitpay greatly influenced this new decision to support BTC and BCH. Bitpay already enjoys a good working relationship with Apmex. These two companies had worked together five years ago, making it easy for Apmex to accept the cryptos. That was according to Bitpay’s chief commercial officer, Sonny Singh. When Onegold was started, they were ready to accept BCH and BTC through Bitpay.
Foreign Bullion Buyers Need Alternative Means Of Payment
One of the major reasons Onegold opted to accept BTC and BCH was because of credit card chargebooks. That was according to Onegold’s Chief Executive Officer, Ken Lewis. There is one major reason why users need to pay for services and products up front. This is because the digital assets are a push transaction system and they also act like cash. This also makes the ordinary fraud cases so hard to accomplish. Ken Lewis also went ahead to explain how blockchain payments offer much accountability. Therefore, some foreign customers are more inclined to buy the collateralized assets of Onegold using the virtual coins. He detailed that they expect a huge number of customers from foreign markets, where the use of credit cards isn’t usually practical. Adding BTC and BCH as one of Onegold’s payment options is a way of protecting their own interest. It is also a way of increasing the payment efficiency and transparency.
Onegold Trusts In Cryptographically Secured Metals
This is what Onegold strongly believes in: the cryptographically secured digital metals are way better than ETFs – Exchange-Traded Funds. They include the LBMA Gold and the gold trust Comex. These two products have certain similarities. First of all, they can be electronically traded. However, Onegold is cryptographically secured by the use of a distributed ledger. Onegold also has 100% physical metal backing. Just with a click of a button, Onegold customers can redeem their kept assets. They will then immediately have physical metals shipped to their residences using the Apmex service. There are a few silver and gold ETFs that can’t be easily redeemed. There are also others that can’t be traded for physical assets, making fiat the only option.