Provident Metals, a leading dealer of precious metals, currency and numismatic coins, has announced that they will accept Dogecoin, Bitcoin and Litecoin for payment on gold and silver bullion and other products starting August 25.
Known as “cryptocurrencies,” Dogecoin, Bitcoin and Litecoin are anonymous, Fort Knox secure, and easily used to buy goods. A digital “wallet” on your computer, mobile phone, tablet or website keeps track of the currency balance and allows you to access and spend it. Cryptography is what makes these fun, easy-to-use mediums of exchange decentralized, open-source and secure.
Provident Metals CEO Joe Merrick explained in a recent press release that the decision to integrate cryptocurrencies and precious metals was due to forward-thinking investors who are proponents of alternative currency.
But the partnership between Provident Metals and Dogecoin doesn’t stop there. NASCAR’s Phil Parsons Racing faced funding challenges earlier this year which were solved when Provident Metals decided to sponsor NASCAR driver Josh Wise and his No. 98 car, which Dogecoin also sponsors.
In a recent interview, Phil Parsons said that Provident Metals called him about sponsorship while he was at the shop working on a race car. “. . . Brice, their Director of Marketing . . . told me they became aware of us because of the Reddit community,” Phil said.
The precious metals, digital currency and NASCAR collaboration was born of an enthusiastic 16-year-old Reddit user and NASCAR fan, Denis Pavel, who noticed Wise and his No. 98 car at a NASCAR Sprint Cup Series race. Pavel heard about Wise’s funding difficulties and decided to use fundraising techniques he saw on Reddit to help Wise with sponsorship. Pavel used the Dogecoin currency to raise sponsorship funds—far exceeding the target amount within the opening week. His efforts led to Dogecoin and Reddit partnering with Phil Parsons Racing for the May race at Talladega Superspeedway.