Today DigitalTangible, a leading Bitcoin-Gold platform and precious metals custodian, announced their partnership with Amagi Metals, a gold bullion dealer. Together the two have created a trading platform for physical gold, cash and Bitcoin.
The CEO of Amagi Metals, Stephan Macaskill, made the announcement with DigitalTangible saying,
“We are thrilled to be working with DigitalTangible. Our competitive premiums matched with their efficient service leveraging the Bitcoin Blockchain helps gold buyers worldwide meet financial goals. No one wants to work with a third party anymore. Bitcoin is making that sentiment even stronger. This new style of wealth preservation is catching on and DT will help lead the way.”
DigitalTangible works by allowing users to purchase gold with their bitcoins. Once a user purchases gold, the gold is placed in custody, and the buyer receives a proof of custody and digital tokens. These tokens are then placed on an exchange where trade their tokens. Users can cash out their earnings, converting their tokens into Bitcoins or physical gold that will be shipped to their door.
Using this method, DigitalTangible customers can purchase premium physical 1 ounce, 99.99% gold bullion for premiums as low as 1.87% over spot, and there are no minimum purchase requirements. This effectively lowers the barrier for investors who wish to diversify their portfolio. Select Amagi hold products qualify for Individual Retirement Accounts (IRA) for low –cost retirement planning.
“Our customers want the lowest premiums on gold bullion and coins, but they also want to acquire Bitcoin volatility exposure as the digital currency continues to expand in global use. Gold investors have always been pioneers in commodity investing, and we want to make sure they can trade between Gold and Bitcoin within minutes and without the need for additional fees or middlemen.” – Taariq Lewis, Founder and CEO of DigitalTangible.
DigitalTangible claims to have processed over $30M in gold Bitcoin customer sales, and avoids the middlemen, brokers and associated fees you’d come up against when trading gold. There are no minimum or maximum trades, no escrow accounts nor contracts to sign. For those seeking to invest their Bitcoin is a commodity rather than another cryptocurrency, this might be something to look into.
DigitalTangible isn’t the only company getting behind Bitcoin and gold. There are several coins that claim to be backed by gold. Most recently Newnote Financial Corp announced the successful development and launch of INNcoin, a coin that would allow you to mine physical gold from your computer.
Mixing gold and cryptocurrency can be frightening for some investors. Coinabul, a company that claimed to be the “First Bitcoin gold service” is facing a ‘Class action’ lawsuit alleging that the company committed fraud. Customers have filed claims reporting that they had made purchases from Coinabul, but have never received their promised gold.
DigitalTangible is combating these fears through transparency and using the blockchain ledger to link gold assets to customers in order to prove their reserves are secure and accounted for.
Right now DigitalTangible and Amagi Metals is offering all customers free overnight shipping with discounts on all Amagi one ounce gold products for a limited time starting today.
Last modified (UTC): September 3, 2014 9:00 PM