The peer-to-peer cryptocurrency exchange Paxful adds gold as a payment option

The peer-to-peer cryptocurrency exchange Paxful announced the addition of gold as a payment option, which means that users can use gold to buy and sell Bitcoin. Paxful co-founder and CEO Ray Youssef said, “Due to the recent economic downturn, people are more inclined to use gold as a safe investment. Some data show that gold is currently in a state of supply shortage.” On the other hand, some regions of the world Gold is abundant, but Bitcoin is scarce. Paxful currently accepts “in any form” of physical gold, and this new service can be used by customers around the world. In the transaction, Bitcoin is temporarily kept by Paxful, and the delivery of physical gold must be completed within 21 days after the transaction.