Swiss crypto broker Bitcoin Suisse has started letting its users trade gold, silver, and platinum against the top two cryptocurrencies bitcoin and ether, as well as against fiat currencies.
According to an announcement the firm published, its clients can now trade gold, silver, and platinum 24/7 with immediate cash settlement. Bitcoin Suisse touts clients now have a greater choice of strong assets to build up a diversified portfolio using its platform, providing them with options in times of high market volatility.
Bitcoin Suisse rolled out its 24/7 trading of fiat currencies late last month, and added in its recent announcement that with precious metals users have access to assets that have been long used in investment strategies. Bitcoin Suisse’s head of trading and liquidity, Stefan Lütolf, added:
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.
The precious metals trading pairs are being offered to all of Bitcoin Suisse’s clients, with a minimum purchase requirement of 100 CHF (around $103), and with no custody fees for up to 100,000 CHF ($103,000).
Gold, silver, and platinum can be traded n the platform against BTC and ETH, and against major fiat currencies like the CHF, USD, GBP, EUR, and DKK. Precious metals trades are settled immediately for fiat currencies with a two-day lapse. The firm’s statement reads:
Even with increased access in recent years, the possibility of combining precious metal investments with so-called “digital gold” (Bitcoin) remains difficult. Now Bitcoin Suisse is helping to change this.
It’s worth noting that with cryptocurrency exchange Vaultoro users could already trade the flagship cryptocurrency for physical gold. The gold users buy using Vaultoro is then stored in the client’s name in high-security vaults in Switzerland.