Bullion Company, OneGold Inc. introduces crypto payments on its mobile application after a successful run so far in providing crypto payment gateways to purchase gold and silver. The precious metal marketplace announced they would be accepting crypto payments a year ago, and have since accepted over $50 million in Bitcoin-based payments for gold, which represents 10% of their total precious metal sales.
The long-standing feud between Bitcoin maximalists and Gold bugs is slowly easing out as both camps realize the vast potential the assets held as a store of value. The gateway provided by OneGold allows users to exchange gold and silver for a variety of crypto options including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Paxos Standard (PAX), Gemini USD (GUSD) and Circle’s USD Coin (USDC).
The Apmex and Sprott owned bullion marketplace integrate BitPay, a crypto-to-fiat gateway platform, to allow users to directly purchase gold and silver using digital assets. The platform further incentivizes the users to use crypto, offering 2% discounts on each purchase. According to the CEO of OneGold, Kenneth Lewis, gold and crypto are necessary for every portfolio to diversify risk across various assets. Speaking on the latest integration with BitPay, Lewis said,
“Cryptocurrency holders are a natural fit as precious metals investors and can utilize OneGold to balance their investment portfolio. Using BitPay, cryptocurrency holders can quickly buy gold or silver at institutional pricing, save 2%, and create a nice balanced mix of gold, silver, and cryptocurrencies.”
The company is stretching out its services further by targeting mobile-based users, mostly millennials, in launching both their Android and iOS apps on Jan. 13. This comes on the heels of the $50 million USD in transactions completed using cryptocurrencies on the online bullion marketplace over the past year.
The new mobile-based application is set to improve the overall investment vehicles of both gold and cryptocurrencies offering investors an “ideal source for passive investment”. The official statement on the launch of the mobile application states,
“Onegold is an ideal resource for people who would like to passively save weekly, monthly or quarterly and dollar-cost average the price of gold and silver over time.”