First Costa Rica Coin & Bullion Accepts Payment in Bitcoin

First Costa Rica Coin & Bullion's raison d'être, is to act as a market maker for the bullion and collectible coin market in Costa Rica, and to therby offer precious metals for physical delivery in Costa Rica.

In order to ensure the maximum level of security for both ourselves and for our clients, transactions occur on a face-to-face basis. Within that general procedure we offer a variety of payment methods, the newest of which is bitcoin.

What is Bitcoin?

Bitcoin is a digital cryptographic currency that fulfills the basic chacteristics required of any medium of exchange: they are divisible, there is a limited quantity in existence, they are fungible, and they are convenient to use. Bitcoins have no intrinsic value other than their use as a medium of exchange, but there is a large and growing number of businesses and individuals that accept bitcoins in payment for products and services.

The bitcoin network (as well as the networks of other cryptocurrencies) use peer-to-peer technology, and thus have no bank or other central authority in charge of either issuance or control of transfers of the currency. The cost of transferring bitcoins between users is small to non-existent, and are finalized much more quickly than transfers of national currences.

Many foresee a bitcoin-based financial system as one that could continue to function even after the breakdown of the current system of fiat currencies managed by national governments and their central banks. However there is no guarantee that bitcoin will be successful on a long-term basis. A wide spectrum of interpretations regarding bitcoin can be made, from it being practically a ponzi-scheme, to that it will eventually disrupt and supplant force-backed national fiat currencies.

For now, however, bitcoins do have an undeniably legitimate and expanding use as a transactional mechanism.

If you are interested in acquiring precious metals in Costa Rica, contact us, and we will attend to your needs as quickly and efficiently as possible. Our acceptance of bitcoin and other cryptocurrencies demonstrates our flexibility and eagerness to accomodate our faithful customers. We are also very interested in the development of the bitcoin economy and that of other cryptocurrencies, and as such in networking with other users of bitcoin, whether you are a merchant that accepts bitcoin payments, are an end user that is interested in acquiring bitcoin for the purpose of making bitcoin payments, or if you have acquired bitcoin and need to exchange such for national currency.