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Netagio lets customers trade bitcoin for gold and major currencies

31 March 2014  |  1689 views  |  0 Source: Netagio Limited

Netagio Limited is now offering customers of its Bitcoin cold storage solution the chance to trade Bitcoins for gold and major national currencies.

Launched in January 2014, Netagio keeps the majority of its customers' Bitcoins encrypted and offline, well out of reach of hackers. Netagio's free-to-use accounts sit behind two-factor authentication security and can be set by customers to allow access only from preset, user-defined locations.

In just a few clicks, Netagio customers can turn their Bitcoins into physical 100g gold bars that will be insured and stored in a maximum-security vault in one of the world's most secure storage facilities in the mountains of Switzerland. Under armed guard and embedded hundreds of metres within the rock, the gold is safe from all known civilian and military risks.

Netagio customers can also turn any gold that they have into Bitcoins - they simply need to convert the gold into 100g bars and have them delivered to Netagio, which will credit the customer's account with Bitcoins. Gold can also be delivered to a customer's address, at the customer's expense.

The exchange rate is calculated on the most recent Bitcoin and gold prices and Netagio charges a competitive 1.99% commission on the purchase, which is paid in Bitcoins. Customers buying gold with Bitcoins will also be charged a storage fee of 0.3% per annum, again payable in Bitcoins. Storage of Bitcoins with Netagio is free.

"Gold is one of the world's oldest currencies and now our customers can trade it for one of the newest - Bitcoins," said Simon Hamblin, Managing Director at Netagio. "We're offering customers the chance to exchange Bitcoins for gold and vice versa, with the reassurance that Netagio has incredibly safe, state-of-the-art storage solutions for both."

As well as gold, Netagio customers can now also trade Bitcoins for three national currencies - British pounds, Euro or US dollars. As with gold, customers are able to make the trade with just a few clicks.

Netagio is working with a network of Bitcoin providers in order to give customers the best possible deal, taking into account factors such as location and exchange rate. There is no direct contact between the customer and the provider as the whole process is managed by Netagio, using a traditional brokerage model.

"The emergence of Bitcoin as an asset class has seen a rise in demand for reputable, reliable services for trading and storing digital currencies. By using military-grade hardware for the cold storage of Bitcoins, the most secure locations available and a wide network of partners, Netagio is aiming to be the market leader in providing services to those who wish to invest in Bitcoin," Hamblin continued.

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