Do You Accept Bitcoin?
Yes. JM Bullion is proud to accept Bitcoin as a means of payment. Bitcoin is accepted on orders from $100 to a maximum of $250,000.
How Do I Pay With Bitcoin?
Making purchases using Bitcoin is both simple and convenient. Start by adding the desired products to your shopping cart. Next, select “Bitcoin” as your payment method. Verify that your order meets the $100 minimum and is at or below the order maximum of $250,000, then click “Checkout Now.” If you have an existing JM Bullion account, you will then be prompted to log in to complete the checkout process. If you do not have an account, you can checkout using the “Guest Checkout” option, and create an account at the conclusion of the checkout process if you like.
To complete the checkout process, your name, billing address, phone number and shipping address must all be provided. If you do not have a JM Bullion account, you will also be required to provide a valid email address.
Once this has been completed, click the “Proceed to Next Steps” button. You will then be presented with a BitPay invoice. You will have a 15 minute period in which to submit payment and complete your transaction. If your payment is not completed within the allotted 15 minutes, you will have to start over with a new order.
BitPay is a leading Bitcoin payment service provider founded in 2011 and headquartered in Atlanta, GA. BitPay processes merchant transactions made using Bitcoin, and is one of the largest Bitcoin processors in the world. Simply put, BitPay takes one side of the transaction on the merchant’s behalf, and then converts those Bitcoin payments into the merchant’s preferred currency, in this case U.S. Dollars. BitPay offers merchants a way to accept Bitcoin without the risks associated with price volatility, as payments made in bitcoins are converted immediately to the currency of choice. BitPay has built a track record of reliability, and JM Bullion is proud to incorporate their services for a seamless customer purchasing experience.
Payments made using Bitcoin can take up to one (1) business day to be received. Payments are cleared immediately upon receipt. Once cleared, your shipment will be prepared and sent out, with tracking information provided in the “My Account” section of the site.
Please Note: All Bitcoin payments are immediately converted to U.S. Dollars. Any refunds will be made in Bitcoin at the U.S. Dollar rate at the time of transaction.
What is the Exchange Rate for Bitcoin?
The Bitcoin exchange rate is in a constant state of flux, and can be viewed by visiting the BitPay site.
What Bitcoin Wallet Works Best for Making Payments in Bitcoin?
Bitcoin rates are always on the move, and this is why payments must be finalized within 15 minutes of order creation. Many Bitcoin exchanges cannot process a payment that quickly, which could result in your order being voided. Needless to say, this can cost time and money and be a frustrating experience. Not only that, but many wallets do not support Payment Protocol, which displays a URL or Payment Protocol QR code to provide the bitcoin address and transaction data securely to bitcoin wallets.
To avoid this, you may want to consider wallets that can deliver quick and reliable payments. Some of the popular Payment Protocol-compatible wallets include:
- BitPay Wallet
- Copay Wallet
- Airbitz Wallet
- Bitcoin Core Wallet
- Electrum Wallet
- Mycelium Wallet
If you have a wallet that is not listed above, it may fail to work properly with BitPay.
For questions regarding payments through BitPay and wallet compatibility, visit the BitPay support section.
Are Payments Made Using Bitcoin Subject to Discount?
Yes. Payments made using Bitcoin are eligible for a 3% discount compared to credit or debit card and PayPal payments. Product pricing is available on the site according to payment method, so you can see exactly how much you will be paying.
Can I Change a Payment Method to Bitcoin After the Order is Completed?
No. Payments made using credit/debit card, PayPal, bank wire or check cannot be changed to Bitcoin. Orders that have designated Bitcoin as the payment method cannot be changed to other methods once completed. Bitcoin purchases must be made through our site and must be designated at time of checkout.
What Are Your Shipping and Processing Times?
Bitcoin orders clear as soon as they are marked Paid in our system, which typically occurs within one (1) business day. Once the order is indicated as Paid, your bitcoin payment has been processed, and the order has entered the shipping queue.
- $100 Minimum
- $250,000 Maximum
- Discount rate: 3%
Can I Cancel an Order?
Once an order has been completed, it cannot be cancelled. Confirmed orders that have been completed but have not yet shipped may be offset using the “Current Asking Price” on the day of written notification. This, in effect, is selling the product directly back to JM Bullion at the current asking price.
Any offset requests must be made between 9am and 5pm EST. JM Bullion reserves the right to permit a cancellation or offset of your order.
For more information on cancellations and/or offsets, please visit the JM Bullion Terms and Conditions page.
How Are Bitcoin Refunds Applied?
Any refunds made on Bitcoin purchases will be made through Bitpay in Bitcoin at the U.S. Dollar rate at time of refund.
What is the current Bitcoin Price?
You can always view the current price by visiting our bitcoin price page. Our bitcoin price charts are an easy reference for current bitcoin prices. In addition to displaying the current bitcoin price, our interactive charts allow you to examine historical bitcoin prices.
Can I Make Payments Using Other Cryptocurrencies?
At this time, JM Bullion only accepts Bitcoin. With the rising popularity of cryptocurrencies, however, we are exploring adding additional cryptocurrencies in the future. We recommend checking back often to see if additional options have become available.
Since its establishment in 2008, the online payment system known as Bitcoin has enabled millions of customers to make and receive payments without the involvement of any banks or credit/debit card companies. The popularity of this payment method stems not only from the convenience of its transaction process, but also from the currency it uses, the bitcoin. The bitcoin serves as the single uniform piece of currency within the system, and enables people from different nations to make their purchases without having to concern themselves with current exchange rates. Understandably, it has become a popular means of payment among businesses that deal internationally, including precious metals dealers.
Yet, before customers commit to using this form of payment for their precious metal purchases, it is important to understand some of its potential risks and consequences. Bitcoin is still in the development phase and has many security and privacy issues it needs to resolve before it can be considered a reliable form of payment. In its present state, customers may want to consider more established forms of payment for their gold and silver purchases.
The primary advantage to using Bitcoin is the convenience it offers. Because all transactions occur online, customers are not confined to the hours and location of any particular establishment. They can make their purchases at anytime from the comfort of their own home or office. Customers also appreciate that Bitcoin provides them with a single internationally accepted form of currency that can be used across the globe without the need for any additional conversion.
In addition to its convenience, many customers prefer this method of payment due to its affordability; Bitcoin transactions incur lower processing fees for merchants than those made with PayPal or credit/debit cards. As a result, customers end up paying lower premiums rates for their precious metals purchases.
Buying Gold & Silver With Bitcoin at JM Bullion
JM Bullion is proud to offer a Bitcoin payment option to our valued customers. You will now find a Bitcoin payment option at checkout. Those who make purchases using Bitcoin will receive a 3% discount, just as those who pay by bank wire and check do. To learn more about our other accepted forms of payment, please visit our Payment Methods Page or contact us directly at 800-276-6508.