Paxful now allows buying gold with Bitcoin

The platform for buying and selling bitcoins between individuals Paxful now offers the possibility to its users to buy and sellgold physical against Bitcoin.

According to a press release, Paxful, a popular Bitcoin P2P exchange that offers a multitude of payment methods, has launched a service to exchange Bitcoin againstgold and vice versa.

According to Ray Youssef, co-founder of Paxful, the demand for buying and selling bitcoins with gold is " surprisingly high "

We believe that by adding this payment option, we will continue to carry out our mission of financial inclusion in places such asAfrica, "He said, adding that there is a" significant concentration of gold "on the continent.

In accordance with its anti-money laundering program, Paxful requires a full verification of the identity of traders. The company also says it will tighten controls for users who want to sell gold.

During a gold / bitcoin transaction, the bitcoin sequestration platform and the delivery of gold must be made within 3 weeks maximum.

Last year, the Paxful widget has been integrated with Binance, allowing cryptocurrency users to buy Bitcoin through more than 300 different payment methods.

More recently, the startup specializing in blockchain analysis Chainalysis deployed its monitoring solution Chainalysis KYT on Paxful.

Some experts claim that Bitcoin can be considered a safe haven, just like gold, making cryptocurrency the " new digital gold "