We continue reviewing popular online and offline platforms, which have chosen Bitcoin as a way of payment for their goods and services. Amagi Metals website is on our list today.
Bitcoin for Gold
As known, Amagi Metals company is into selling precious metals to its customers. Ironically, Bitcoins and gold are very much a controversial topic, with each side saying there product is better. What’s most ironic is that people are purchasing gold for Bitcoins, even though many are fans of their product, whether its Bitcoin or gold. Some people would consider it exchanging digital gold for physical gold, or using an alternative payment system for buying gold. Whatever it is, Amagi Metals is bringing more awareness to Bitcoin in the end both ways and will only keep doing that.
How did it start?
Stephen says he chose the name of Amagi after the 4000-year-old Sumerian cuneiform symbol amagi, as it is the first known human symbol of liberty, as Stephen strongly believes in financial responsibility.
With his beliefs in liberty and financial responsibility, it’s only natural he first heard of it around the libertarian community, in 2010. The final straw was in 2012, when a friend suggested he started accepting Bitcoin at Amagi Metals, and the rest is history.
No Risk, No Reward
When they first announced in a blog post stating that they were accepting Bitcoin on December 12,2012, no one really took notice. They even had their bank account closed from Bank of the West as the bank saw Bitcoin as a risk.
But alas, it was worth it. As Bitcoin gained more popularity and usage, Amagi Metals started seeing some volume, with a blog post on March 14,2013 stating that they had reached $50,000 in Bitcoin sales. 3 weeks later, that number was triple that, at $175,000. As more time elapsed, Amagi Metals just got even more popular, with average between $20,000 – $50,000 per day in Bitcoin sales and their record being $900,000 worth of Bitcoin between Thanksgiving and Sunday of 2013.
Amagi Metals took quite a few risks to accept Bitcoin, but the risk was worth it. It both helped his company by bringing extra revenue, and helped the community by spreading awareness and pushing adoption of the currency itself. Amagi Metals isn’t stopping there however.
They have upcoming a Bitcoin Awareness campaign along with a launch of a new website, and now prices of precious metals can be seen in prices of Bitcoins to further aid Bitcoin buyers.
Their websites ease of use, great customer support, and wide selection as well as being a BBB verified company and being a CCE only further puts at ease that even though they do accept Bitcoin, it’s not any more as risky as buying with credit cards, checks, etc. Amagi Metals is one of the few major retailers that accept Bitcoins, but that will change in the coming months as Bitcoin gains more validity and adoption.