Artists who consign their works to Cointemporary are given the choice of taking payment in Fiat currency or Bitcoin.
Cointemporary agrees on the price of a work with the artist before it is exhibited on the website. The price is then converted to Bitcoin using the average Bitcoin price over the last 24-hours at the point it is listed.
Bitcoin is a form of digital currency that only exists online and is not controlled by any central financial authority, putting the control of the currency in the hands of the user. It allows people to transfer value to anyone, anywhere on the internet, without the traditional fees, commissions or currency exchange rates.
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