Business 17 October 2018

Erik Gibbs

Marks Jewelers now accepts Bitcoin BCH, other cryptocurrencies

One of the most enduring jewelry retailers and designers in the United States has decided to embrace cryptocurrencies. Pennsylvania-based Marks Jewelers announced on Tuesday that it has partnered with Shopping Cart Elite, an eCommerce payment platform, to give customers the ability to pay for their fine jewelry purchases with a variety of digital currencies.

Marks now accepts Bitcoin BCH, as well as BTC, BCD, BTG, ETH, LTC, ZCoin and DASH. It is the first time a major US-based retailer with a large physical presence has embraced cryptocurrency and shows how crypto, particularly Bitcoin BCH, is continuing to expand to fulfill its intended purpose—to be used as currency.

According to Marks Jewelers Director of Marketing Joshua Rubin, “We’re very excited to begin accepting cryptocurrency payments from our customers around the world. This will allow us to make our fine jewelry available to the global market while paying lower fees and avoiding chargebacks. Marks has long been known for our meticulous craftsmanship and curated selection, and we are thrilled to open our store to the world.”

Opening up its payment capabilities to crypto gives Marks’ customers access to its large portfolio of fine jewelry “with lightning-fast transactions that take just minutes to process.” Since cryptocurrency transaction fees are substantially lower than those associated with bank transfers and credit cards, “Marks Jewelers is able to pass on even more savings to customers buying their next dazzling piece of jewelry,” according to the announcement.

Marks has been around for over 35 years. The company doesn’t just provide resale options for jewelry; it designs jewelry, as well. The company has five gemologists that graduated from the Gemological Institute of America on its payroll to ensure that the quality of diamonds and gemstones is a cut above the rest. It is partnered with Forevermark, a company under the DeBeers umbrella of jewelers.

Shopping Cart Elite is an eCommerce platform that gives companies the ability to automate their businesses. It is gaining traction as a crypto payment facilitator and is capable of being integrated into any eCommerce platform, including those that are listed on large retail sites such as Amazon, NewEgg, Etsy and Walmart, among others.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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