Bitgold Enables Gold Purchases With Ethereum

Categories: CryptoNews

Bitgold Enables Gold Purchases With Ethereum

Ethereum has been on the minds of many people as of late, and it looks like the use cases for Ether are increasing slowly but surely. Bitgold has enabled Ethereum payments for bullion gold, which is a welcome addition to this currency. Bitcoin and credit cards are accepted as well.

Bitgold Enables Ethereum Payments

For quite some time now, a lot of people in the world of Bitcoin and cryptocurrency have wondered if the Ethereum Ether currency will ever see valid use cases for people to buy physical items with it. It looks like those prayers have been heard, as Bitgold recently enabled Ethereum payments for their bullion gold, which adds a significant use case for Ether to the table.

Bitgold has been making quite the name for itself in recent months, as the company initially only accepted payments through credit card and Bitcoin. This caused great excitement among Bitcoin enthusiasts around the world, as having the option to buy physical gold with cryptocurrency is quite the notch in the belt as far as validating this cryptocurrency is concerned.

The addition of Ethereum

to the Bitgold platform will further confirm the service as a bullion dealer, and attract more customers from all over the world. Investors are always looking for ways to diversify their portfolio, and even though there is a firm belief in Ethereum and its Ether currency, gold has started to look a lot more appealing as well in recent times.

Ethereum users can now buy physical gold as an investment – within 1% of the official gold price – as well as enjoy all of the other services the platform has to offer. The physical gold sold by this company comes in the form of their BitGold GoldCubes, each of which contains 10g of 0.9995 gold. But there is more, as the company also issues their debit cards linked to the user’s gold balance. This gives users an option to conveniently spend their balances.

However, there is a very long list of scam allegations against the BitGold platform to be found on Bitcointalk, and Ethereum users need to properly conduct their research before sending money to them. For those users looking for an alternative option,

Digix may be worth checking as well, as they offer gold-backed tokens on the Ethereum blockchain.

Source: Reddit

Images credit 1,2

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.