Precious Metals Dealer JM Bullion Accepts Bitcoin

Dallas-based precious metals dealer JM Bullion is now accepting bitcoin.

With the announcement, JM Bullion joins a growing list of US-based precious metals dealers that accept bitcoin for payments, including Agora Commodities and Amagi Metals.

JM Bullion will accept bitcoin through a partnership with merchant processing startup BitPay. Customers will receive 4% discounts on bitcoin purchases, an offer also extended to those who pay with bank transfers and paper checks.

Director of e-commerce Thomas Fougerousse said that he believes the decision enables the company to offer a better payment experience while reaching a new audience.

Fougerousse said:

"Bitcoin is allowing us a new way to meet demand from dedicated precious metals buyers."

The news comes at a time when bitcoin’s use case as a digital currency is being overshadowed by an emphasis on blockchain technology and declining merchant adoption metrics.

According to CoinDesk’s State of Bitcoin 2016 report, major merchant processors BitPay and Coinbase are no longer announcing the number of merchants enrolling in services, reporting no change in totals in Q4 2015.

Still, findings suggest the total number of merchants accepting the digital currency rose 42% year over year.

Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in BitPay.

Gold and silver image via Shutterstock