Gold has been one of the foremost and prevalent sources of valuable currency for ages. Now, those who have accumulated a great deal of gold over the years, but are interested in bitcoin may have an avenue to convert the gold into bitcoin. A new platform called Sharps Pixley recently announced that it is offering its customers the opportunity to conduct such a transaction using its payment processor BitPay.
The new arrangement between Sharps Pixley and Bitpay provides for the bitcoin-to-gold and from gold-to-bitcoin scenarios. The reversable quality of the trades is new and this platform is one of the first of its kind to offer it. Interestingly enough, there seems to be enough demand for it as well. According to the platform, it has had its best monthly sales this month, totaling nearly 10 million pounds in March 2018 from the date of its bullion showroom in early 2016.
According to the CEO:
“allowing clients to firstly convert bitcoin into gold and now gold into bitcoin is a recognition that there is overlap between these two assets in terms of the motivation for owning them; it follows that people should be able to trade between them in either direction.” Further, the dealer is recognized as one of the largest and most reputable gold dealers in the world, according to the COO of BitPay.
With this new method, there truly may be a turn in the gold-bitcoin transaction field.