In some quarters, Bitcoin has been referred to as digital gold. Now, thanks to online precious metals retailer APMEX, that digital gold can be used to purchase the real thing. The company recently announced the new payment option in a press release, and has integrated BitPay into its website portal to facilitate the purchases.
APMEX CEO Ken Lewis suggested that the decision was all about giving customers more options:
“The APMEX customer experience is always a priority for us and accepting bitcoin seemed to be a natural implementation. Bitcoin purchases are becoming more prevalent in the Precious Metals industry and we wanted to ensure our customers can shop how they want and have the best experience possible.”
Customers will be able to use the cryptocurrency to purchase gold directly from the company’s site. In addition, Bitcoin can be used to buy silver and any other precious metals that APMEX sells. The company's statement promises that all purchases will be “processed and shipped within one business day” after the payment clears, and Bitcoin orders will receive a cash discount comparable to those given to check and bank wire transfers.