JM Bullion starts to accept Bitcoin for bullion purchases. Now you can buy gold , silver, platinum, and copper bullion with BitcoinCT r: 8
JM Bullion, one of the largest dealers of precious metals in the industry holds the test period with Bitcoin payment. It is the industry-first decision to begin accepting Bitcoin for purchases of precious metal bullion. JM Bullion partners with BitPay
In a statement released on BitPay’s blog, the payment processor announced that JM Bullion starts accepting purchases of gold, silver, platinum, and copper bullion with Bitcoin : “We’re excited to announce that precious metals dealer JM Bullion is now accepting bitcoin with the BitPay platform.” BitPayCT r: 17 says that Bitcoin purchases would have many advantages over traditional forms of payment, namely tackling the fees involved with credit cards , and the slugginess with which bank transfers and paper checks process: “Since bitcoin is a push payment method that works like cash for the Internet , JM Bullion and its customers that use bitcoin can protect themselves from the costs of credit card chargeback fraud . Those costs factor into the several percentage point processing fees charged by traditional payment providers, and they can add up to significant margins for high-value purchases like gold and silver. By sidestepping these fees, JM Bullion’s bitcoin customers will be getting the same 4% discount offered to customers paying with bank transfers or paper checks – without the hassle of transacting offline. Bitcoin customers will also have higher payment limits than credit card users, as well as lower payment minimums than bank transfers.” BitPay’s post concluded by suggesting the reasoning behind JM Bullion’s decision to begin accepting Bitcoin: “It makes sense that precious metals have been popular purchases for bitcoin users – particularly those in the United States – […]
