Following the footsteps of Amagi metals, Euro Pacific Precious Metals, one of the largest international gold and silver dealers started accepting Bitcoin. Even larger than Amagi Metals volume wise, this will bring a lot of attention and potentially precious metal investors that want to diversify their portfolio.
To do this, they partnered up with Bitpay, a popular payment processor. With its excellent customer support, as well as the ability to have daily deposit to your bank account in your local currency, free of charge. You are even able to keep a certain percentage of Bitcoins if you would like to not immediately convert everything to fiat.
Bitpay also strives to make it worry free as possible, with even a starter plan is $0 a month with a 1% transaction fee, if you just want to try out service. They always exchange at the best rate possible so you know you are getting the most up-to-date exchange rate.
Led by Peter Schiff, Euro Pacific Precious Metals specializes in “making high-quality bullion coins and bars part of its customers financial portfolio”. With their track record of always providing the best price for their customers, it’s natural that they found Bitcoin.
Bitcoin, with its faster transactions and lower fees allows both Peters company as well as the consumer to benefit from this decision.
Compared to a wire transfer, which can be slow and expensive for the consumer, or credit card fees which are too high given the fact that Euro Pacific as a very low premium on the metals compared to other dealers.
Bitpay’s partnership with Euro Pacific Precious Metals just shows how far Bitcoins progressed over the last couple of years. This partnership was made recently, after the collaboration with Toshiba just shows how much people’s opinions of Bitcoins have changed. As more and more global companies adopt Bitcoin, the stronger the network effect will get when eventually that lemonade stand down the street will start accepting it.
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