Companies all over the world are showing an increasing interest in Bitcoin and other cryptocurrencies. This is especially true in the bullion industry, where more and more stores are beginning to deal in Bitcoin and a few other currencies. BullionStar is the latest company to enable support for Bitcoin Cash, Litecoin, and Ethereum in exchange for gold and silver.
BullionStar Sees Merit in Cryptocurrency
Even though some people like to draw nonexistent parallels between cryptocurrency and bullion, it seems both industries come together quite often. Despite sharing some similar traits such as the mining aspect, scarcity, and a hefty investment fee prior to generating both forms of money, Bitcoin and gold or silver couldn’t be more different if they tried.
Even so, the people who deal with bullion and/or silver acknowledge there is a growing demand for payments involving Bitcoin and other cryptocurrencies. Various online platforms have already enabled Bitcoin support over the past few years. There’s always a question as to how successful such ventures really are, but it seems the overall demand isn’t slowing down just yet.
BullionStar is one of the platforms expanding its presence in the world of cryptocurrency. That is a positive sign, as there is a lot more to this new form of money than just Bitcoin. Various altcoins are making a big name for themselves, with the likes of Ethereum, Bitcoin Cash, and Litecoin all having made a big impact in the past year or two. As such, it makes sense for bullion dealers to experiment with such payment options as well.
BullionStar explained its decision as follows:
BullionStar constantly aims to add innovations to its product and service offerings, and the addition of Ethereum, Bitcoin Cash and Litecoin comes after careful analysis and following customer feedback. The addition of Ethereum, Bitcoin Cash and Litecoin now gives BullionStar customers extra choice when buying physical precious metals using cryptocurrencies, and allows for faster cryptocurrency transaction confirmation times.
BullionStar’s customers can now purchase and sell physical gold, silver, and platinum coins and bars using the newly-added payment methods. These additional cryptocurrencies will supplement the existing Bitcoin payment option, as well as all of the six supported fiat currencies on the platform. It is a remarkable and bold decision by the dealer, and one that may set a precedent for other providers in the industry.
All of this further confirms that the cryptocurrency industry is of great interest to a lot of people. While some experts may reject the notion that cryptocurrencies can function as regular currencies, it seems more and more stores and dealers are willing to experiment with this form of money. Only time will tell whether or not that is a smart decision, but it is a positive development for the cryptocurrency industry as a whole.