DigitalTangible has announced the formal launch of its crypto 2.0-powered, decentralized marketplace for gold and bitcoin traders.While existing services allow bitcoin users to buy gold with bitcoin, DigitalTangible offers a novel innovation for the market, using an underlying crypto 2.0 protocol that issues tokens representing physical gold and attaches them to bitcoin addresses, thereby allowing traders to seamlessly move between bitcoin and gold.
DigitalTangible counts two of the more visible gold-buying services that cater to bitcoin users as partners – Amagi Metals, which recently announced it would cease to accept fiat currency by 2017, and Agora Commodities, which has sold more than $10m-worth of gold and silver for bitcoin to date.
The launch coincides with the formal unveiling of the firm’s partnership with Amagi, and to mark the occasion, the companies are offering all customers free overnight shipping on select gold products for a limited time.Lewis explained that both Agora and Amagi will sell gold on the DigitalTangible platform, competing for customers and thereby driving down costs for users. As the project’s lead vendors, Lewis added that the partnership is attractive for Agora and Amagi as they can increase sales and drive down marketing costs.
Of course, while bitcoin enjoys some support from the gold community, not all gold investors are enthusiastic about alternative digital stores of value. As such, DigitalTangible and its partners are investing in a marketing push that aims to fight against any negative perceptions of bitcoin.