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Cofres Bitcoin introduces Uruguay-based safety deposit boxes

05 June 2014  |  1158 views  |  0 Source: Cofres Bitcoin

Cofres Bitcoin, in partnership with the Swiftcoin exchange First National BNAK, is offering state of the art safety deposit boxes located at Plaza Independencia 823, Montevideo, Uruguay, 11101.

At the client's request, Swiss style numbered accounts utilizing a Swiftcoin address will be their only identifier.

Offshore storage of valuables and important records is a key part of asset protection. The Argentina peso crisis, the Cyprus bail-in, martial law in Thailand and civil wars in Ukraine and Syria demonstrate the need for offshore financial and estate planning. Gold confiscation at home is another risk. Executive order 6102, signed into law by Franklin D. Roosevelt in April of 1933, obliged all private owners of gold and gold coins to surrender them for paper money at a depressed price. After all the gold had been turned in, it was revalued 70% higher and used to settle government debts. Source: Forbes article published 4/5/13.

"Gold is remarkably compact, and takes less storage than cash does. A tonne of gold bullion is worth about 38 million dollars, and yet needs only a 14 inch block of space for storage. For this reason, we are able to store gold for as little as 0.1% per annum for volume buyers," said Daniel Bruno, Chartered Market Technician and the founder of the Cofres Bitcoin swap point. "We have a lot of clients who are aware that in a financial crisis, the wealthy can be seen as "hoarders" or can be blamed for a country's financial problems. Governments are often pressured into signing legislation that can greatly impact those who have stored gold, or accumulated great wealth."

Safety deposit box account numbers are obtained for free by downloading the Swiftcoin wallet and generating a new unique Swiftcoin address code. All safety deposit box communications are conducted strictly with the wallet of the same Swiftcoin address as the rental box. No email, no phone calls. A client's unique Swiftcoin address may, at his request, be his only identifier. This identifier, along with physical possession of the metal key, are required to access the safety deposit box.

Custodial services are available for those unable to travel to Uruguay. Uruguay does not tax the import or export of precious metals, but they have to be declared.

Swiftcoin and Cofres Bitcoin bank safety deposit boxes are not available to citizens or residents of the United States of America. 

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