Since 2011 CompareSilverPrices.com (CSP) has been qualitatively easing the pains of silver investors looking to pay less for more. Now, Bitcoin enthusiasts will enjoy the same service. On October 1st, the website launched a new Bitcoin-centric precious metals service where consumers can quickly shop prices and products from dealers offering the crypto-currency as a payment method.
“Bernank”, head developer and Chief Printing Press operator for CompareSilverPrices.com noted that Bitcoin is a natural choice for bullion dealers:
“It’s clear to me that Bitcoin will become a staple of eCommerce bullion dealers. Paying with Bitcoin often enables the consumer to enjoy immediate shipping (no need to wait for checks to clear or bankwire fees), while ensuring that the dealer always receives their payment. When bullion dealers integrate Bitcoin as a payment option, consumers enjoy the fastest service as there is no need to wait for payment to clear, and gold and silver dealers eliminate the need for a ‘market loss policy’ by collecting payment upfront.”
While “Bernank” doesn’t expect to see Bitcoin outpace traditional payment methods just yet, it’s clear that there are benefits to using Bitcoin when compared to the headaches associated with credit cards and wires.
“Many of the largest retail bullion dealers accept credit cards and Paypal, which puts them at risk with high fees, chargebacks and other inconveniences. Bitcoin represents an instantaneous mode of value transfer without the risks dealers now face: no chargebacks, no fees, no waits. Dealers we spoke to mostly noted that integrating Bitcoin payments was straight-forward and at little or no marginal cost.”
CompareSilverPrices.com’s new Bitcoin pricing site features Bitcoin accepting dealers Amagi Metals, Provident Metals, GoldSilverBitcoin and Agora Commodities, all of whom have made considerable inroads into the precious metals retail community, with some claiming over $10 million in sales.
While it would seem that Bitcoin remains a niche or esoteric concept for gold buyers, Bitcoin-to-gold services are a new phenomenon that mutually benefit both industries as many are looking to convert portions of their crypto-currency gains into hard assets like silver and gold in light of Bitcoin’s bull market of 2013, which saw valuations rising from a low of $10 to a high over $1,200 by year’s end.
In adding support for Bitcoin, CSP aims to provide precious metals investors and collectors an efficient and clear overview of their options when it comes to buying bullion. The time is now for the precious metals industry to take a step into the future, and CSP is proud to be on the cutting edge of this transition with its new bitcoin portal https://comparesilverprices.com/bitcoin/.