IronGate.Wine, an online retailer of private, rare wine collections, today announced that they have completed testing and will immediately begin accepting Bitcoin (BTC) and Bitcoin Cash (BCH) as payment methods for their extensive online inventory of vintage wine.
Utilizing the processing system provided by bitcoin payment company BitPay, IronGate.Wine will allow buyers from all over the world to shop for vintage wine from the cellars of private collectors using the leading cryptocurrency.
[perfectpullquote align=”full” bordertop=”false” cite=”IronGate.Wine President, Warren Porter” link=“” color=“” class=“” size=“”]“We are very excited to be the first online retailer of our kind to accept Bitcoin as a form of payment for the incredible wines that we have available, Our research has shown that the adoption of cryptocurrency is on the rise and we want our customers to be able to use whatever payment form they prefer. We view Bitcoin and Bitcoin Cash as a currency, not unlike the Dollar or Euro and know that our customers would like the option of spending it on this luxury item.”[/perfectpullquote]
Porter continued, “aside from convenience, the fraud-proof nature of crypto compared to credit cards will completely eliminate fraudulent transactions. In addition, accepting crypto payments greatly decreases our processing fees compared to credit cards. IronGate.Wine is consistently one of the lowest-priced providers in the United States of fine and rare wine, but we can be even more competitive by further reducing our processing costs by several percentage points.”
[perfectpullquote align=”full” bordertop=”false” cite=”Sonny Singh, Chief Commercial Officer at BitPay” link=”” color=”” class=”” size=””]“Bitcoin is a global currency and will allow international buyers to purchase wine cheaper and more quickly than credit cards and bank wires. One of the biggest headaches merchants have today is chargebacks, and for online merchants, this headache is compounded with the added risks of identity theft and fraud. BitPay leverages the promise cryptocurrency provides with transactional transparency. It is impossible to use cryptocurrency for fraud as every transaction is verified, recorded and stored on the blockchain. Further, as a push transaction, similar to taking cash out of a wallet, the user sends the exact amount of Bitcoin needed to pay the bill. This eliminates traditional credit card fraud and identity theft risks associated with credit cards. As a result, there are no chargebacks.”[/perfectpullquote]
Based in upstate New York and shipping worldwide, IronGate.Wine is an online retailer of vintage wines meticulously sourced from private collectors throughout the United States and Canada. Currently, there are over 2500 different, unique, and individual wines available for purchase through the website, with that number growing to over 4000 in the next month.