Bitcoin Suisse: trading precious metals for crypto
Bitcoin Suisse: trading precious metals for crypto
Crypto

Bitcoin Suisse: trading precious metals for crypto

By Marco Cavicchioli - 27 May 2020

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Bitcoin Suisse has announced the launch of its precious metals trading service, 24 hours a day, 7 days a week. 

This will allow trading gold, silver and platinum in exchange for cryptocurrencies or fiat currencies without having to physically handle them. 

In fact, all precious metals that can be traded on Bitcoin Suisse are actually physically stored by a trusted banking partner, and purchases are 100% covered by a bank guarantee. 

Bitcoin Suisse started operating with cryptocurrencies seven years ago and with this initiative expands the choice of tradable assets so that its customers can diversify their portfolios. 

Fiat currency trading was added just a few weeks ago and the decision to add precious metals also stems from the fact that during this period volatility and uncertainty in the financial markets are high, whereas precious metals are a very solid asset class, often used as part of long-term investment strategies.

Gold in particular is considered as the true original “safe haven”, but it has always remained a difficult asset for many investors to access. In particular, it is still relatively difficult to combine investments in precious metals with bitcoin, the so-called digital gold, and cryptocurrencies. Bitcoin Suisse aims to make this much more accessible.

This is why their new offer of precious metals has been opened up to all customers, with a very low minimum purchase price of only CHF 100 (approx. $103) and no custody fees for those with a value of CHF 100,000 or more. 

Moreover, trading in precious metals is settled immediately, without the classic time frame of one or two days.

The three precious metals can be traded either with BTC and ETH, or in fiat currencies, namely USD, EUR, GBP, CHF and DKK. 

Bitcoin Suisse’s Head Trading & Liquidity Management, Stefan Lütolf, said:

“Recent developments have boosted the demand for scarce, highly valuable assets such as gold and Bitcoin. Bitcoin may not be Gold 2.0 – yet. In the meantime, we want to give our clients the maximum choice possible. By offering seamless precious metals trading, we go beyond the crypto asset class for the first time. It’s an excellent way to move between the two assets with the click of a button”.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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