DigitalTangible has launched a new
precious metals service that aims to target gold bar and coin owners
who may be considering the digital currency market, reports "CoinDesk".
Called Bitcoin4Gold, the service allows verified users to mail physical gold to its dealer network, which can then be exchanged for bitcoin, litecoin, dogecoin or darkcoin.
The product is the latest from crypto 2.0-powered gold and bitcoin trading serviceDigitalTangible, which launched its exchange service in September. DigitalTangible allows users to move between bitcoin and gold, and to receive cryptographic tokens that represent physical gold holdings.
Precious metals dealer Agora Commodities and Texas-based refinery and wholesaler Dillon Gageare handling the shipping and review process, while prospective sellers will use DigitalTangible’s web wallet to retrieve their digital currency of choice.
DigitalTangible founder Taariq Lewis said that his company is betting that the time is right to open a new channel for gold owners that want to get in on bitcoin, given that the market has recently seen multi-year lows.
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