Coinabul - Buy gold using bitcoins.Submitted by Coinabul on Thu, 08/02/2012 - 18:21
I've noticed a bit of discussion about my site, http://Coinabul.com.
I thought I'd give you folks the overview of what we do, what Bitcoin is, and answer any questions you have!
So, quite simply, we sell gold online. We provide a modern gold buying experience complete with an API that allows you to order physical gold without even touching our website. This allows you to plug in a gold platform into your webapp.
All of our gold is listed with a Bitcoin price. We accept bitcoins as a form of payment. Bitcoins are a decentralized way to pay online. Basically, it's online money. There are a couple benefits to using bitcoins to purchase gold:
Why use Bitcoin: Private
Using bitcoins is pseudo-anonymous. This means by using Bitcoin you cut out the middle man, conventional payment processors, who can see your gold purchasing transaction. When we cut out the middle man we get another added benefit as well, cheaper prices!
Why use Bitcoin: Cheaper prices
Since we can cut out a middle man we can have much cheaper prices. This allows us to compete with the larger online gold dealers. Another reason we can have cheaper prices is there are no fraudulent Bitcoin transactions. If we receive payment, there can be no chargebacks. Chargebacks lead to a high fraud cost normally, especially for smaller gold dealers.
Why use Bitcoin: International payments
Bitcoin is easily the simplest way to transfer funds internationally. We ship orders all over the world.
Anyways, let me know what questions you have about our site, or Bitcoin in general!