Money Metals Exchange now allows transactions in Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash and other cryptocurrencies to acquire their services.
National precious metals dealer Money Metals Exchange today announced expanded services for customers engaging in precious metals transactions and wishing to make or receive payment in any of several crypto-currencies.
Money Metals began accepting Bitcoin payments for gold and silver bullion nearly 3 years ago, making it among the very first in the industry to do so. The firm’s capabilities of dealing in other cryptos such as Ethereum, Bitcoin Cash, Ripple, and Litecoin puts it again at the forefront.
“Money Metals believes honest money is core to liberating people and protecting their savings. History is clear as to how the game of unrestrained government borrowing, printing, and spending will end. The holders of the world’s fiat currencies will wind up holding the bag,” said Stefan Gleason, president of Money Metals Exchange.
“While there can be no doubt that tangible, off-the-grid, gold and silver – which feature zero counterparty risk – will play a key role in the future, just as they have in the past. However, it may well be that crypto-currencies also have a key role to play,” Gleason continued.
Crypto-currencies provide a method of sending payments anywhere in the world, without permission and with little cost. It is possible to do so securely and privately, without relying upon bankers as middlemen.
If Bitcoin or one or more of the alternatives crypto-currencies can solve scaling problems, this could lead a revolution in which individuals and liberty are the victors.
Money Metals clients have long been able to make payment for metals using Bitcoin. Customers will soon be able to make online payments in Bitcoin Cash and other major crypto-currencies.
However, Money Metals customers can now arrange transactions by phone to make payment or receive payment using crypto-currencies other than Bitcoin – such as Ethereum, Bitcoin Cash, Ripple, and Litecoin.
Aside from the ability to accept payment in other crypto-currencies besides Bitcoin, what further sets Money Metals Exchange apart from other merchants in the precious metals space is the firm’s ability to make payments TO clients using crypto-currency. Money Metals can purchase customer metals and send them the digital coin of their choice as payment.
Money Metals also offers a platform for crypto-currency speculators who want to use precious metals as a safe haven. Customers can swap Bitcoin (and other coins) for gold and silver to be stored by Money Metals Depository (MMD). Storing with MMD makes it quicker to swap back into crypto-currency when the time comes, and avoid the cost and hassle associated with shipping metals.
Money Metals reports significant growth of this program in recent weeks. Some crypto-currency holders have been taking profits after the extraordinary move higher and reallocating funds to precious metals.
Some crypto-currency holders are reportedly reducing their exposure while questions and concerns over Bitcoin scaling and the health of some major exchanges get resolved.
“For many, parking capital in U.S. dollars is not an attractive option,” said Gleason. “We make it easy to park in physical gold and silver instead. Money Metals Depository provides fully segregated (and independently audited) storage in a state-of-the-art Class III vaulting facility located in Idaho – and our storage fees are the lowest in the industry.”
A few metals investors are excited by what is happening in the crypto sphere and are looking to join in. Others want nothing to do with digital currencies or are looking to get out. Regardless of what investors are planning to do on the crypto-currency or hard currency front, Money Metals is poised to help them do it.
Money Metals Exchange, a national precious metals company recently named “Best in the USA” by an independent global ratings group, serves nearly 100,000 customers and sells more than $100 million in physical gold, silver, platinum, and palladium each year.
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