ForexMinute had earlier reported that a revolutionary concept was developed by Netagio to provide cold storage Bitcoin vault that mitigated the risk of holding BTC by keeping most of the coin offline in a secure vault. Now, the same company has announced that it is offering the services wherein Bitcoin owners can convert their digital currency into gold bars.
Netagio, the European Bitcoin storage startup launched the innovative service so that traders can trade their Bitcoin for gold bars, and park their potential risk/reward accordingly. Gold, a commodity that never disappoints investors will definitely be a major attraction for so many Bitcoiners who think their investment is at risk.
Particularly, when a lot of fluctuation is taking place in the value of Bitcoin as Mt. Gox collapsed and rumors about ban on Bitcoin in China spread, an option to exchange gold bar with the digital currency may hit the new heights. Nonetheless, all those who think keeping Bitcoin safe isn’t easy, may want to avail the services.
The latest offer from Netagio wherein it announced that its users can now convert Bitcoin into physical 100g gold bars comes with storage facilities. The company offers a storage facility for the gold bar with the help of its parent company GoldMoney Group. There will be additional charges for the gold storage wherein it also provides insurance.
Safe and Secure Storage Facility for Gold Bars from Parent Company
The company source at Netagio claimed that the gold bars will be kept in one of its maximum-security vaults in the mountains of Switzerland. The premises where the valuables are placed are safe and secure as there are round the clock security. Thus, clients can sell their Bitcoin and buy gold bars at the exchange rate which is calculated on the basis of the most recent Bitcoin and gold prices.
The company official says that the clients will be charged 1.99% commission on any purchases and the fee will be paid in Bitcoins not gold. Then, there is additional charge for storage of the gold bars; customers will be asked to pay 0.3% per annum of the total cost of the gold bars that too will be charged in Bitcoin.
It’s not the only new offer from Netagio as it also launched Bitcoin trading services wherein traders can trades for three national currencies e.g. British pounds, Euro or U.S. dollars. The organization is working on to provide the best possible deals for customers when they are trading Bitcoin.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org