Want to Buy Gold with Cryptocurrency? Anyone can now do so thanks to a partnership between crypto payment processor, BitPay and popular precious metals marketplace, OneGold.
How to buy gold with cryptocurrency from OneGold using BitPay?
The OneGold-BitPay partnership, both firms announced on January 13 the integration will allow those from the crypto community to buy gold with cryptocurrency; bitcoin and a host of other altcoins.
However, there is one catch. At the time of this publication, crypto users can only make purchases gold with cryptocurrency on OneGold’s app; iOS and Android-based devices. Transactions are processed using BitPay’s application programming interface (API).
BitPay, with over 30,000 merchants is one of the most popular crypto payments processing firms in the space. Some of BitPay’s most popular partners are: Amazon, Delta, Microsof, Google Play, DoorDash.
Which cryptocurrencies accepted?
More cryptocurrencies will be added in the future. Both existing and new BitPay users get 2% off from OneGold.com
Kenneth Lewis, CEO of OneGold told Cointelegraph during an interview:
“Cryptocurrency holders are a natural fit as precious metals investors and can utilize OneGold to balance their investment portfolio. Using BitPay, cryptocurrency holders can quickly buy gold or silver at institutional pricing, save 2%, and create a nice balanced mix of gold, silver, and cryptocurrencies.”
OneGold’s entry into the crypto space comes less than two weeks after Fundstrat Global Advisors’ CEO, Brian Kelly told NBC’s ‘Fast Money’ that Bitcoin can certainly reach $250,000 and take 50% of gold’s share in the process.
Affects of Iran-United States’ conflict on Bitcoin & gold prices
Both gold and Bitcoin prices surged after tensions between the United States and Iran reached its highest level since the 1979 revolution.
The U.S. embassy and its staff were help captive by Iran militias for 44 days after pro-American president, Shah was ousted in a takeover by anti-American Supreme Leader Ayatollah Ruhollah Khomeini.
Faith Obafemim tech lawyer, digital content consultant, blockchain & crypto researcher, emerging tech tech writer. She is currently doing research on the implementation of the African Continental Free Trade Agreement (AfCFTA) on the blockchain and recommending Kleros as a dispute resolution layer.