Provident Metals – an online precious metals dealer – announced in a press release earlier this week that it will soon accept virtual currencies for all purchases on its website, ProvidentMetals.com.
As of August 25, the Texas-based company will accept Bitcoin, Dogecoin, and Litecoin as payment on all gold and silver bullion and other products featured on its site.
Provident Metals CEO Joe Merrick said of the decision:
“The value of cryptocurrencies and precious metals are market driven, and they both appeal to forward-thinking investors. This integration was logical because many of our customers are proponents of alternative currency, and it’s our job to respond to their needs.”
The company said in the release that customer requests played a large role in its decision to accept virtual currencies as a form of payment, especially after Provident Metals started sponsoring NASCAR racer Josh Wise, whose sponsors also include Dogecoin.
Jake Haugen, Provident Metals’ COO, said in the release that when the Dogecoin community started asking for the option to buy precious metals with their preferred virtual currency, the firm realized that “…it was time for us to recognize the effect cryptocurrencies are having in the market place.”
“Our goal is to provide our customers with new and progressive payment options that work to their advantage.”
He said that by adding the three cryptocurrencies to its list of accepted payment options, Provident Metals joins a small but quickly growing list of businesses that are adapting to meet the needs of today’s consumers.