National Firearms Manufacturer Becomes the First to Accept Bitcoin for Purchases
Frontier Tactical, a disabled veteran owned company, is a manufacturer bringing innovation and modularity to the already market-proven AR-15 platform. “Departing From the Known”
Brooksville, Florida (December 2017) – Frontier Tactical announces the acceptance of cryptocurrency. The amazing response to the cryptocurrency trends has not been lost on the company leading innovation in the firearms industry. Arguments can be made that the shooting sports industry has been one of the slowest to harness new technologies. That image of the industry may soon change.
Frontier Tactical strongly believes that integrating new technology is only one of the ways that it maintains the edge on competitors. Their War Lock system had already set them far ahead of the industry; with the ability to upgrade AR-15’s to fire over 90 calibers.
In 2014, the media inaccurately reported that TrackingPoint was the first national firearms manufacturer to accept Bitcoin. In August, Nate Love (CEO of Frontier Tactical) contacted Ken D’Arcy (CEO of TrackingPoint) to learn more about their success with it. It was at that time, D’Arcy stated that to his knowledge (he was not CEO at the time), “TrackingPoint was considering Bitcoin a number of years ago but only looked briefly and decided against it.”
That spurred Frontier Tactical to pioneer the cryptocurrency path for their own company. Today, customers may choose Bitcoin as a payment method on www.frontiertactical.com. Frontier Tactical will be adding other cryptocurrencies (alt coins, or alternate coins) as they go forward with the digital currency.
Cryptocurrency is a form of digital money that is designed to work as a medium of exchange using cryptography to secure transactions. It is used outside banking and government and the process occurs over the internet. It is secure, anonymous and unaffected by politics. Since there is no exchange of money, processing payments happens fast and orders are processed rapidly. The most familiar form of cryptocurrency is Bitcoin, which was developed in 2009, and was the first decentralized cryptocurrency. By decentralized, there is no control such as with an electronic money or central banking system. Companies or governments cannot produce new units of currency. The balance of the “ledgers” is maintained by a community of mutually distrustful parties referred to as miners. Miners are members of the general public using their computer to validate and timestamp transactions within the cryptocurrency ledger. Within the United States, bitcoin is treated as property for tax purposes as opposed to currency and is subject to the capital gains tax. This IRS ruling validates the legality of bitcoin for investors and investments and profit making.
More and more companies and retailers are implementing bitcoins as a legitimate source of funds. Companies such as Microsoft, Overstock.com, Expedia.com, Subway, Virgin Galactic, museums, restaurants, clothing stores and now Frontier Tactical have entered the future of commerce by accepting cryptocurrency as a form of payment for orders.
About Frontier Tactical:
Founded in 2014 in Brooksville, Florida, Frontier Tactical designs and manufactures firearms and accessories for the defense and shooting industries.