7 October 2022
Bitcoin Suisse Users Can Now Trade Precious Metals Against Bitcoin
Bitcoin Suisse is a Swiss crypto-financial firm and it has added gold, silver, and platinum on its platform. Its users can trade these metals against cryptos such as Bitcoin (BTC) and Ether (ETH) and also with five other major fiat currencies.
The firm made an announcement on 26th May, that trading for gold, silver, and platinum are available for 24/7 with an immediate cash settlement. However, the offering is not physically settled and claims are limited only to crypto and fiat.
Bitcoin Suisse users can invest a minimum of 100 Swiss francs ($103) without custody fees for holdings up to $103,000. The firm also highlights that along with a listing of precious metals it also added: “assets which have been part of long-term investment strategies.”
The precious metals are also enabled to trade against the Swiss franc, the United States dollar, the British pound, the euro, and the Danish krone.
Bitcoin Suisse claims that all the precious metals traded on its platform are secured by a trusted banking partner, with purchases being “backed 100% by the Bitcoin Suisse bank guarantee.”
The head training, and liquidity manager at Bitcoin Suisse, Stefan Lütolf said
“It’s an excellent way to move between the two assets with the click of a button.” He also added that the new product is in response to rising demand for “scarce, highly valuable assets such as gold and bitcoin.”