Bullion Dealer Drops Credit Card Payments After Bitcoin Success

precious metals for bitcoin

People who knew about bitcoin prior to 2013 tend to fall into two categories: those who had the foresight to buy the currency when it was plentiful and cheap, and those wishing they could go back in time and do the same.

Like many others, entrepreneur Joseph Castillo initially passed the industry over for other interests.

Castillo first learned about bitcoin in 2009 during the digital currency’s infancy, but was initially unsure whether the concept would actually be successful. A longtime veteran of the precious metals and commodities sector, Castillo, like many people, initially thought bitcoin was silly. So, he chose instead to start a precious metals business, launching Wyoming based Agora Commodities in 2012.

Agora Commodities found success in the industry, accepting credit cards and cash/bank transfers for gold and silver. However, following a conversation with a friend and fellow gold investor, Castillo decided to add bitcoin payments at the end of 2012 to his then-new company.

It’s a decision that radically changed its future.

Revenue earner

Between that date and the beginning of 2014, Castillo’s decision to accept bitcoin generated about $10m in revenue.

Read More at coindesk.com

Bullion Dealer Drops Credit Card Payments After Bitcoin Success

 

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