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Old 12-19-2018, 03:45 PM   #1
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JM Bullion Accepts Over $60M in Bitcoin Payments

This is almost a year old now, but this is the first article I recall putting some hard numbers on how much companies are taking in from crypto's. I guess in a few weeks we'll have some new numbers to compare it to. I also wonder how much other sites, especially PM sites are seeing in payments this way.

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Precious Metals Dealer JM Bullion Accepts Over $60mm in Bitcoin Payments in 2017

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"DALLAS, Jan. 5, 2018 /PRNewswire/ -- JM Bullion is a North American precious metals dealer located in Dallas, Texas. As one of North America's largest online retailers of gold and silver, the company has long accepted various forms of payment for online purchases of physical precious metals.

In 2016, JM Bullion established a relationship with BitPay to safely and securely accept Bitcoin payments from retail customers. BitPay's software processes bitcoin payments from JM Bullion's customers. BitPay then provides JM Bullion with a direct bank deposit for the US dollar value of the funds received, minus a processing fee. There's no bitcoin price volatility for JM Bullion, and JM Bullion can reach a new customer base of bitcoin users.

JM experienced incredible growth in the acceptance of bitcoin in 2017 and expects the trend of bitcoin's use for actual purchases to continue growing.

A Record 2017

When JM Bullion began working with bitcoin payment processor BitPay to accept bitcoin for gold, silver, and other bullion metal purchases, it became one of the first precious metals dealers to work with the company to process bitcoin payments. As a result, JM Bullion is now a leading bitcoin merchant in the precious metals industry, as well as a leading BitPay merchant overall.

In 2017, JM Bullion accepted more than $60 million in bitcoin payments, which was an increase of more than 5x from 2016. The holiday season also lead to an increase in sales, as the month of December alone exceeded $20mm in bitcoin payments. The acceptance of bitcoin for precious metals has helped propel JM Bullion to continued growth. Today, JM Bullion stands as one of the largest online precious metals dealers, with strong growth in annual sales and orders that ship to over 500,000 American customers.

Benefits of Bitcoin

Bitcoin payments present several benefits to both merchants and customers. First, the transaction fees are much lower than the standard credit card fee of 2%-3%, which allowed JM Bullion to save significantly on transaction fees and pass on savings to customers in the form of lower prices. Next, by accepting bitcoin, JM Bullion can acquire new customers who might not have a credit card or be able to remit bank wires. Lastly, JM Bullion has substantially reduced their chargeback and fraud risk as bitcoin transactions are relatively fraud free.

Real World Bitcoin Usage

JM Bullion uses BitPay to give bitcoin holders an outlet for their cryptocurrency when making purchases. Platforms like BitPay better enable real-world use of bitcoin for purchases, rather than focusing on speculation on future bitcoin prices. Whether you're buying gold bars, silver rounds, or platinum coins, JM Bullion is proud to accept bitcoin, with BitPay as payment processor, for online precious metals transactions.

JM Bullion believes everyone should plan for their future, and they ensure anyone, regardless of budget, can physically own investments proven to retain value throughout generations. Start safeguarding tomorrow today. Visit JMBullion.com or call 800-276-6508 to learn more.

About BitPay

The first and most experienced company in bitcoin payments, BitPay builds powerful tools for secure bitcoin payment acceptance, savings, and spending. The company has offices in North America, Europe, and South America and processes payments for industry giants in online commerce, from Microsoft to Gyft and Newegg. For more information on BitPay and what it's doing in the world of bitcoin, visit www.bitpay.com or email media@bitpay.com.

SOURCE JM Bullion"


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Old 12-20-2018, 08:13 AM   #2
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I'm going to guess that since the bitcoin market has crashed hard, the volume of bitcoin sales has dropped a bit through 2018.
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