Bitcoin Suisse is adding gold, silver and platinum to its range of tradable products, citing increased demand for scarce and valuable commodities as the reason for this move. The precious metals can be traded directly against Bitcoin and Ethereum in 24/7 trading.
According to the bank, demand for a wider range of strong assets to build a diversified portfolio has increased during periods of high market volatility and uncertainty. As a result, the tradable product range is being expanded to include another option with a traditionally valued asset class. Only a few weeks ago, Bitcoin Suisse introduced 24/7 trading of fiat currencies. With precious metals, the company adds assets that form part of a long-term investment strategy.
Gold, often referred to as the original “safe haven”, has remained a difficult asset to access for many investors throughout history. Even with easier access in recent years, the possibility of combining precious metal investments with so-called “digital gold” (Bitcoin) remains difficult. Bitcoin Suisse is now helping to change this. The precious metal offering is aimed at all levels of client demand and is available from a minimum purchase of CHF 100. There are no custody account fees for holdings up to CHF 100,000.
Direct precious metal trading against FIAT and crypto currencies possible
The three precious metals will be tradable not only against fiat currencies (CHF, USD, GBP, EUR and DKK), but also against the two main crypto-currencies, Bitcoin and Ethereum. This should make it possible to switch seamlessly between the two asset classes. This is to take place within an immediate settlement without the usual time span of one to two days.
Stefan Lütolf, Head of Trading & Liquidity Management at Bitcoin Suisse, commented:
“Recent developments have boosted demand for scarce, very valuable assets such as gold and bitcoin. Bitcoin may not yet be Gold 2.0 – not yet. In the meantime, we want to offer our customers the widest possible choice. By offering seamless precious metals trading, we are going beyond the crypto-asset class for the first time. It’s an excellent way to move between the two asset classes with a click of the mouse”.
All precious metals offered through Bitcoin Suisse are stored by a trusted banking partner. Purchases are 100% secured by the Bitcoin Suisse bank guarantee. Precious metals trading is not physically settled and claims on assets are only possible in fiat or crypto currencies. A request from CVJ.CH to offer a precious metals trading service as a supplement to the decision was commented by Ian Simpson / Senior Marketing & Communication Manager:
“We recognize that our precious metals offering will appeal to a client segment that has a strong affinity with traditional asset classes. We believe it is important to combine the offerings – that is why we are now also trading in gold, silver and platinum in addition to crypto-currencies and foreign exchange. We combine these so-called “safe-haven” precious metals with the convenience of 24/7 trading and immediate cash settlement”.
*Originally published in German at CVJ.ch