A distinguished gold trader in London accepts payment in the currency of the Bitcoin

The number of traders who accept digital bitcoin has increased as a means of paying steadily over the past year.

The most recent was the acceptance of the digital Betquin coin by the gold trader Sharps Pixley, who resides in London.

Who is Sharps?

Sharps Pixley, who dates back to 1778, is a London-based precious metal dealer and a member of the London Gold Bullion Society. It also acts as a full service store for investors to purchase, store and trade precious metals. Sharps Bexley has shown that, in keeping with the current time by deciding to accept Bitcoin as a means of payment.

Ross Norman, CEO of Sharps Pixley, said:

'We believe that many investors in the Bitcoin currency want to retain the intrinsic value of traditional safe haven assets such as gold so that they can switch in a simple and cost-effective way.   

Now the road is open to them. '

Digital Gold

The Bitcoin  may be called digital gold, but it still has a long way to go before gold competes as a safe haven. Where the annual volume of gold is estimated at 22 billion dollars. While Bitcoin investors represent a specialized category of investors, although awareness about digital currencies is increasing.

Giles Mabel, Business Development Manager at Sharps Pixley said:

'We are now bridging the gap between the world's oldest and most recent currency and providing new and existing customers with the means to exchange digital currency with tangible and tangible assets that can be stored and traded at Sharps Pixley.'

  Accept Bitcoin through the payment platform 'Bitpay'

Sharps Bexley will accept payment through Bitcoin for the purchase of gold through the Bitpay payment processor. This will help them to avoid any risk of fluctuating Bitcoin. Given that Sharps Bexley's core competency lies in the trade of precious metals, the decision not to accept Bitcoin directly is wise. Since traders do not have to pay some costs for Bitcoin conversions, they will expose themselves to the vicissitudes of the currency of the Bitcoin if the currency is accepted directly.

In addition, we still have a long way to go before we can use the digital Bitcoin coin at every stage of the product value chain - from raw material to sale to final customer.