Despite Worries, Amagi Continues Accepting Litecoin and Dogecoin

Update:
CoinPayments.net was expecting to close down due to FinCEN allegations of “Money Transmitting” without the approval or license to do so. CoinPayments has responded by saying because they send money from “Sender X to Buyer Z”, although dealing with absolutely no fiat currency at all, they will have to discontinue service and foresee other payment processors in the future dealing with the same issue.
The crypto-community poured out their encouragement to the creators and crew of CoinPayments and expressed the unjust nature of FinCEN’s allegations. CoinPayments.net has been the leader for altcoin payments and many businesses revere their service – including Amagi! Here was the orginal message posted on their home page when the announcement was made:

“It is with a heavy heart that we have to announce the closure of CoinPayments.net. FinCEN has ruled that Bitcoin is in their purview which would make us a money transmitter. We simply do not have the resources to register with FinCEN and most of the 50 states as a MSB and comply with all of the AML/KYC laws (and no realistic way to raise the funds to do so.)
The shutdown will happen in 3 stages:
We will stop accepting new user registrations effective immediately.
We will stop processing new transactions at 11:59:59 PM EST on March 24, 2014 (transactions already in progress at that time will be completed).
The website will otherwise remain operational until 11:59:59 PM EST on March 31st, 2014 when it will be shut down.
Any refunds due must be requested by the end of March 31st, 2014 and any funds held in your account withdrawn. Keeping the website open for a week from the last new transaction should give everyone ample time to wrap up their affairs in the site.
We extend our sincerest apologies to all of our merchants and customers who have relied on CoinPayments for over 7 months.”

This bad news lived briefly. Shortly after the shutdown was announced, CoinPayments was purchased by a leader in the Bitcoin community – under the company name Cycloid. Operations were expected to be halted at the end of March, yet now there will be no interruptions with CoinPayments.net and Amagi Metals will happily continue accepting Litecoin and Dogecoin!
We’ll update you with any more news on CoinPayments management change, but rest assured your LTC and Doge are as good as gold around here!

Much News: Amagi Metals Now Accepting Litecoin and Dogecoin!

Contact:[email protected]
1-800-882-8496 ext 107
AmagiMetals.com
For immediate release – 02/20/14
Wow shinies! Much crypto!

For those that aren’t fluent in “Doge language”, let me translate…we’ve now expanded our cryptocurrency horizons! Amagi Metals is now accepting Litecoin and Dogecoin as payment for silver and gold. You’ll see these new payment options as you proceed to the checkout in the Amagi Store.

Why Litecoin and Dogecoin?

Amagi Metals has taken the front seat in the cryptocurrency revolution. Amagi began accepting Bitcoin as a form of payment back in 2012 and skyrocketed to one of BitPay’s leading retailers. Now Amagi is taking it a step further by accepting two other well-known cryptocurrencies, Litecoin and Dogecoin.

“As advocates of individual liberty and sound money, we want to stay ahead of the curve and help advance this beautiful new technology.” – Stephen Macaskill

Litecoin has constantly been a popular choice in the crypto world due to its cost-effective and efficient mining capabilities. Consumer-grade hardware, unlike in Bitcoin mining, provides a lower barrier to entry.

Dogecoin, on the other hand, has been living a flashy life, mostly because of their publicity stunts and widespread social media campaign that uses the adorable Shiba Inu as their center of branding. Dogecoin recently sent the Jamaican bobsled team to the Olympics…talk about winning over hearts! We applaud their efforts and now accept payment in this spunky cryptocurrency.

By providing a method for cryptocurrency innovators to convert these new currencies into traditional money, gold and silver, we are improving the stability of cryptocurrencies. It also adds an air of legitimacy for new investors – a peace of mind that their investment will fall back on something tangible and widely trusted. We hope to expose more people to financial responsibility and the importance of a currency with integrity by incorporating these decentralized currencies into our store.

For more information on making payments at Amagi Metals with cryptocurrencies feel free to contact us at [email protected].

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