Diamond retailer in New York will start accepting Bitcoins

With regard to the advancement of Bitcoin and how its acceptance is something that is expanding in other forms of market, Samer Halimeh New York, a diamond retailer in New York City, will begin not only to accept Bitcoins as a form of payment, but also they will change them too.

The company explained that until recently most of the purchases of diamonds were made in US dollars. However, a change occurred in investors from Asia and the Middle East, and that prompted them to start including Bitcoins in their purchases. Especially in those that make VIP clients or those that have more than seven digits.

The purchase and sale of diamonds is one of the industries that has been revolutionized by the Blockchain technology. Even thanks to this new technology, it has been possible to help combat the trafficking of blood diamonds and reduce the spread of counterfeits.

Samer Halimeh, CEO of the retailer, explained that Bitcoin allows the use of a special vehicle when buying diamonds as well as other assets. He also said that thanks to the flexibility that exists within cryptocurrencies, many of their clients around the world prefer to use digital money in their transactions both buying and selling.

Bitcoin purchases can be made from anywhere in the world, and that is something that mainly benefits our customers in developing countries like Brazil or China. We also believe that cryptocurrencies will revolutionize the jewelry business, and make all our customers' purchases easier, faster and cheaper.

At the moment Samer Halimeh will use BitPay as a server to process payments, and will also be the host of the company's wallet and Bitcoin inventory.