Turning cryptocurrency into gold
My Gold Platform is excited to announce that we are now able to accept cryptocurrencies as a payment mechanism for gold.
What is a cryptocurrency?
There has been significant media hype regarding the rapid rise in the value of cryptocurrencies, but it is as a method of exchange that it really shows its true value.
Cryptocurrency is a currency associated with the internet. It uses cryptography – a process of converting legible information into an almost uncrackable code, to track purchases and transfers. This makes it virtually impossible to counterfeit.
Cryptography was born out of the need for secure communication, but it has evolved in the digital era, with elements of mathematical theory and computer science, to become a way of securing communications, information and money online.
How does that help me buy gold?
My Gold Platform as partnered with Coinify to make it as simple and secure as possible to buy your gold with the cryptocurrency of your choice. We are now able to accept the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin SV (BSV), Stellar Lumens (XLM), Nano (NANO), Quantum (QTUM), Tether (USDT20) and USD Coin (USDC).
How do I pay with cryptocurrency?
Once you have reached the checkout, simply follow these steps:
- If you have not already done so, complete your Contact and Shipping details and select the Pay with Coinify option.
- Tick the “I have read and agree to the website terms and conditions ” and then click Place Order.
- You will be presented with the cryptocurrency payment screen. This will show the amount to be paid and you will be able to select the cryptocurrency that you want to pay in.
- You can then complete the transaction by either scanning the QR code or copying and pasting the crytpocurrency address into your wallet.
- Note that the cryptocurrency exchange rate to the GBP amount is fixed for 15 minutes, once this time has elapsed you will need to cancel and restart the payment process.
- Once you have made payment from your wallet and the transfer has been processed, the screen will update to show a successful transaction. Note that this can take a couple of minutes.
How do I know my cryptocurrency transaction is safe?
We have partnered with Coinify who are dedicated to providing a secure and compliant platform to protect our clients’ value and to continuously work towards the mainstreaming of virtual currencies.
They work alongside national and international regulatory bodies and even help to shape new regulation, as a founding member of the Blockchain and Virtual Currencies Working Group. Under the European Commission, they work to ensure that as an entity they adhere to the highest industry standards and compliance with international laws, such as the EU 5th Anti-Money Laundering Directive.
What do I need to know about transacting with Coinify?
Coinify is our 3rd party payment partner. Once on their payment system, it is your responsibility to ensure that you complete the payment process correctly. The transaction is processed entirely by Coinify. My Gold Platform does not handle the cryptocurrency payment in any way.
Once you are on the Coinify platform the conversion rate is valid for 15 minutes. If you do not complete the transaction in this time, you will need to refresh the page and a new conversion rate may apply.
If there is any issue with your payment, please report this immediately to Coinify by emailing: [email protected]
Please see Coinify’s full Terms & Conditions here.