Diamond MarketMeets Bitcoin
February 10, 2016,—There’s a way to purchase diamonds now with cryptocurrency using the exchange Bitcoin.de. The Deutschland-based Bitcoin service has just launched an internal diamond store within its platform. Now customers can use bitcoin to participate in the diamond market and the precious metals scene through the company’s marketplace.
Entering the Diamond Market With Bitcoin
The business is pleased to announce this new feature saying:
“Bitcoins are scarce and have an innate mathematical beauty – properties they share with diamonds. If you prefer your beauty to take tangible form, you can now use your bitcoins to buy diamonds on Bitcoin.de. The bitcoin exchange is the first platform on which customers can spend their bitcoins on diamonds.”
Bitcoin.de explains in its blog that gold, bitcoin and diamonds are valuable because they are rare. Because these three items are so scarce, the company thinks it is “only natural” that the exchange integrates diamonds into its peer-to-peer market. Bitcoin.de has teamed up with the diamond-seller Lieblingskapital to offer several choices of stones. They say people should be able to take the beauty of Bitcoin and turn it into a tangible form if one desires. The exchange states in its blog the current precious gemstone offerings:
“Buy diamonds in several sizes and colours. There are diamonds of 1/3, 1/2, 3/4 and 1 carat, and as many as five different colours. Clarity and cut – the most important of the so-called 4 Cs – are of highest quality.”
Bitcoin.de says that all of the diamonds are delivered with an official certificate from the Gemological Institute of America. Lieblingskapital says that all of the gemstones meet the provenance legal policy and the company also claims the sales do not fund foreign wars. The business says they operate with the “highest ethical” standards and stay consistent with the “Kimberly Process.” The company offers luxury item portfolios via their online platform like Rolex watches, rare wines and classic automobiles. The Lieblingskapital website states, “We create and manage your individual asset portfolio.”
Bitcoin.de has been a reputable exchange in the region since its inception on August 26th, 2011 and has enabled peer-to-peer exchange for the Bitcoin/Euro market. The company made headlines in 2013 with its relationship with Fidor Bank and was one of the first Bitcoin businesses to establish this type of partnership. In February 2015, the exchange implemented collaborated with Fidor to speed up the EUR/BTC trading process. With the integration of the Fidor Smart Giro Account clients could exchange close to instantly due to the collaboration.
The exchange also has a gold market, offering both bullion and coins through the platform. The gold comes from BitcoinCommodities.com, which has specialized in precious metals since 2011. Bitcoin.de says the gold market has seen success, and this has caused the company to partner with Lieblingskapital. Oliver Flaskämper, managing director of Bitcoin Deutschland states:
“After the successful implementation of the gold store two years ago, we now offer our customers the opportunity to buy another attractive investment product with their bitcoins. Our customers buy the diamonds directly from the merchant, but on a platform they can trust – Bitcoin.de. Our customers have trust in us, we have trust in the merchant – this circle is closed with the integration of the diamond store on Bitcoin.de.”
Bitcoin.de believes that introducing diamonds to the digital currency marketplace should be just as natural as precious metals. The exchange is excited to be able to offer rare stones for BTC and will be starting the service in Germany. The platform will expand to the rest of Europe later on. The blog also explains that delivery will take roughly ten days for the diamonds, and delivery costs are more in line with value. The exchange believes BTC and gemstones go hand-in-hand saying, “Bitcoins are scarce and have an innate mathematical beauty – properties they share with diamonds.”
What do you think about a Bitcoin marketplace that offers diamonds? Let us know in the comments below!
Disclosure: Bitcoinist is not affiliated with any of the above-mentioned companies
Images courtesy of Shutterstock, Lieblingskapital, and Bitcoin.de web pages