Goldmoney refuses to use the cryptocurrency

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In a press release released by the canadian company Goldmoney, says that its customers can no longer make new purchases with cryptocurrency and store it in the warehouse of the company. Existing users who have cryptovolans on the platform, it was proposed to take steps to withdraw it until may 6.

In Goldmoney stated that they guarantee the transfer of the cryptocurrency balances of customers or on third-party wallets or platform to translate them into other assets after the deadline on behalf of the user to eliminate the remaining balance. The proceeds from these sales will go directly to the store on the client.

The rejection of cryptocurrencies

Yet Goldmoney, which provides services for the storage of precious metals, explained why she stopped supporting storage of cryptocurrency assets. However, in the statement said that the decision was made after the company’s Board of Directors reviewed a number of factors surrounding the market of digital currencies.

Goldmoney for the first time announced support for investment in Bitcoin (BTC) 15 Nov 2017. The company offered offline storage of the digital currency as an investment asset, similar to gold and other precious metals. Goldmoney said that will keep the client Bitcoins in password-protected hardware cold wallet with a monthly fee of 0.085%. Preece Goldmoney customers have never been permitted to withdraw their Bitcoins stored with third-party exchange or wallet.

It should be noted that Goldmoney is not the only company that refused to support cryptocurrency lately. Previously, Stripe announced the cancellation of the use of Bitcoin for payments, citing price volatility and high fees. Company Steam also passed up the opportunity to buy goods in exchange for Bitcoin at the end of 2017. Although the company noted the possibility of accepting Bitcoins at a later stage, but so far none of the companies has not issued any updates on this issue.

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Tags: Goldmoney

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