Founded by APMEX, OneGold aims at giving investors the ability to combine the benefits of physical gold and silver with those of blockchain-based digital assets, and by adding Bitcoin and Bitcoin Cash to the payment roster, the company believes it boosts transparency and efficiency.
OneGold maintains the ability to take fiat or cryptocurrency, or any combination of the two, as payment. The company is also protected from Bitcoin price swings through BitPay. Moreover, all digital precious metals available through OneGold are allocated to physical precious metals held inside of the Royal Canadian Mint.
BitPay representatives suggest that cryptocurrency is an appropriate payment method for ecommerce and precious metals due to risks of fraud and identity theft related to the use of credit cards. As such, chargebacks, for instance, cost merchants nearly USD 19 billion in 2017.
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