Europac Metals Accepts Bitcoin Transactions

Euro Pacific Precious Metals, the bullion company founded by Peter Schiff, announced to accept Bitcoin transactions. It has partnered with BitPay, a trusted industry leader in Bitcoin transactions, to handle the bitcoin processing. Bitcoin allows to avoid high credit card fees, while allowing customers to avoid the fees of wire transfers. This partnership is the world’s largest by volume to accept bitcoin to date.

This partnership marks another major milestone in the acceptance of bitcoin worldwide, as larger and more global companies embrace the digital currency.

Michael Finger, Director of Marketing at Euro Pacific Precious Metals:

“Bitcoin offers tremendous benefits as a medium of exchange for both our domestic and international customers. A wire transfer of fiat funds can be slow and expensive for the customer, and credit card fees are too high to absorb at the low premiums we offer. Not only does BitPay’s service make business sense, but we are excited about giving owners of bitcoin the opportunity to inexpensively and reliably convert any excess holdings into precious metals rather than back to fiat currency.”

Tony Gallippi, Executive Chairman of BitPay:

“We are very excited to form a partnership with Euro Pacific Precious Metals, especially right on the heels of our collaboration with Toshiba. BitPay is honored to have a role in helping such global and established companies integrate bitcoin into their payment systems.”

BitPay is attracting merchants who sell low-priced goods where credit card fees are expensive and high-ticket items such as gold and silver where chargebacks are common and costly. Accepting bitcoins allows merchants to make these transactions irreversible, while eliminating the risk of fraud and identify theft for the buyer.

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