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

 

Related articles

bitmex

BitMEX to Launch Bitcoin Version of VIX

Derivatives exchange BitMEX will publish an index on 5th January that it hopes will become the bitcoin world’s version of the VIX the so called ‘fear index’ that is used to gauge uncertainty in the wider financial markets. Thе 30-Day Bitcoin Historic Volatility Index, аѕ BitMEX iѕ calling it, works bу taking thе time-weighted average […]

us marshals bitcoin auction

US Marshals Auction $30 Million in Bitcoin

US Marshals Auction $30 Million in Bitcoin The U.S. Marshals Service confirmed Thursday that more than 3,600 bitcoin sold at auction in January have been successfully transferred to five winning bidders. An unknown winner received 1,600 bitcoin (worth about $13.4 million at press time), the agency confirmed in an email today, with the remaining buyers […]

Leave a Reply

Your email address will not be published. Required fields are marked *

*