PawnUp.com Banks on the Growing Popularity of Crypto Currencies

DENVER, April 15, 2014 /PRNewswire/ -- In November of 2012, PawnUp.com made headlines after placing the winning bid for a slice of Royal wedding cake at an auction held by Julien's Auctions of Beverly Hills. Never being ones to shy away from a unique opportunity, the innovative online pawn shop has now placed the iconic dessert up for auction once again. But this is not your run-of-the-mill auction; it is being listed at Cannibay.com, a website that only accepts the PotCoin.info crypto currency.

"Innovation is a required component of any successful online business. PawnUp.com allows customers to sell or loan against their collectibles, virtually, with a click of a button. We are now exploring the possibility of introducing this service to crypto currency users. Since the IRS has recently declared that crypto currencies are now to be dealt with as property, PawnUp.com is looking to loan or buy against crypto currencies as any other valuable property. We thought a great way for us to test the waters in a creative and fun way would be to auction off one of our most notable collectibles. PawnUp.com is based in Denver, and with Denver being only one of two states where marijuana use is legal, we felt that an auction site that trades in PotCoins, such as Cannibay.com does, would be the ideal partner for this one-of-a-kind event," said Jay Martin, spokesperson for PawnUp.com.

"People bidding on this item should be aware that it is not 'munchie material' as the cake is no longer viable for human consumption," Martin continued. However, the sweet treat does represent an unforgettable moment in history and while it will serve as a prized memento of the past. Mr. Martin believes that crypto currencies such as PotCoins are the wave of the future. Martin goes on to say, "In addition to its appeal for recreational users, medical marijuana offers many potentially beneficial effects for people suffering from chronic pain, vomiting and nausea caused by chemotherapy, multiple sclerosis, anxiety and more. It's attracting worldwide attention, as are crypto currencies, such as PotCoins. Therefore, we feel that by hosting this auction on Cannibay.com we've created the perfect marriage of old and new, if you'll pardon the pun."

PawnUp.com will continue to research the various applications of crypto currencies and develop new ways to implement these types of payments into their existing business model.

Anyone wishing to acquire the slice of Princess Diana and Prince Charles' wedding cake can place their bids by visiting: http://www.cannibay.com/item.php?id=53

About PawnUp.com

PawnUp.com is the leading personal asset lender online, and fully accredited member of Better Business Bureau (BBB).

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SOURCE PawnUp.com