BitPay, the world’s largest providers of Blockchain payments, works together with OneGold, a marketplace for the safe and convenient buying and selling of digital Gold and other precious metals, APMEX and Sprott. According to a press release, APMEX will now accept Bitcoin, and Bitcoin to Cash. The OneGold Online marketplace was designed for investors, and it combines the main advantages of physical Gold and silver with those of blockchain-based digital Assets.
In the press release, BitPay Chief Commercial Officer Sonny Singh stated the following:
Crypto is an ideal payment method for E-Commerce and the precious metal trading currencies, because as a result, the risk of cancellations, fraud and identity theft, which is in the use of credit cards is high, is eliminated. BitPay and APMEX have been working together for years, what makes it for APMEX is easy to accept crypto-currencies. When they called OneGold, we were ready to help you to accept Bitcoin and Bitcoin to Cash via BitPay.
Through the use of BitPay OneGold is protected now before the Bitcoin price fluctuations and the choice of crypto-currencies currencies, Fiat or to use a Mix of both. If the company decides 100% Fiat-to choose currency are booked, the money holdings on the following business day to the Bank account of the company, minus a fee of 1%, BitPay as a usage fee.
Ken Lewis, Chief Executive Officer of OneGold, said,
In addition to the protection of our own interests, increases the expansion of the payment options for OneGold with Bitcoin and Bitcoin to Cash, also the transparency and efficiency of our payment processes. We expect a large number of buyers, what with crypto-currencies do not want to pay, because credit card payments are applicable for you.
OneGold applies the vault chain Blockchain Ledger. The digital precious metals vault chain of Gold, and the vault, chain, Silver, sold about OneGold, are fully backed by real Gold and silver reserves stored at the Royal Canadian Mint, a Federal Crown Corporation of the government of Canada, for sure.
In the press release it was stated that one of the main problems for traders are the credit card chargebacks. For Online retailers, this is supplemented by the associated risk of identity theft and fraud. Credit card chargebacks cost merchants in 2017, almost $ 19 billion. Crypto-currencies provide transaction transparency, because each transaction is confirmed on the Blockchain stored. The transaction itself does not contain any confidential information. Since each payment in the crypto-binding to non-permanent transaction, it must pay the customer the exact amount in Bitcoin for the payment of the invoice is required. This eliminates the with credit cards the risks associated with the traditional fraud and identity theft. Thus, there are no Chargebacks.
BitPay, a global Bitcoin payment service provider headquartered in Atlanta, Georgia, USA. It was founded in may 2011 by Tony Gallippi and Stephen Pair. BitPay offers Bitcoin and Bitcoin Cash payment processing systems for merchants. After the recent Bitcoin Cash Hardfork, has announced BitPay to accept Bitcoin ABC.
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