Global blockchain payments provider BitPay announced on Tuesday that OneGold, a marketplace to securely and conveniently buy, sell and redeem digital gold and other precious metals founded by APMEX and Sprott, has added it for cryptocurrency payments since it will now be acceptingBitcoin and Bitcoin Cash. According to BitPay, the OneGold online marketplace is designed for investors and combines the key benefits of physical gold and silver with those of blockchain-based digital assets.
Speaking about the collaboration, Sonny Singh, Chief Commercial Officer at BitPay, stated:
“Cryptocurrency is an ideal payment method for ecommerce and precious metals where the risk of chargebacks, fraud and identity theft with traditional credit cards is high. BitPay and APMEX have worked together for years, making it easy for APMEX to accept cryptocurrency. When they started OneGold, we were ready to help them accept Bitcoin and Bitcoin Cash through BitPay.”
Using BitPay, OneGold is notably protected from any Bitcoin price volatility and has the option to take cryptocurrency or fiat currency or a combination of the two. It was also reported that if the organization chooses to take 100% fiat currency, funds are deposited into the organization’s bank account the next business day, minus a 1% fee BitPay charges for the entire process. Ken Lewis, Chief Executive Officer at OneGold, went on to add:
“In addition to helping protect our own interests, adding Bitcoin and Bitcoin Cash to the payment options for OneGold also increases our payment transparency and efficiency. We anticipate a large number of cryptocurrency buyers from international markets, where accepting credit cards is not always practical.”