Fintech Bitpanda launches gold and silver trading tool
With the creation of Bitpanda Metals, the Vienna-based platform allows users to buy gold and silver at competitive rates and with high security standards
The fintech based in Vienna Bitpanda announced the launch of a new product that will allow users to buy and sell gold and silver safely and at low rates.
With Bitpanda Metals, the company offers its customers a tool for marketing these two important items where assets are 100% physically backed, secured and stored in a high security vault in Switzerland.
Among the benefits to the public are the possibility of diversifying their portfolio with the purchase of gold and silver, backed with physical bars of both precious metals. Likewise, clients will obtain low rates, free of taxes, interchangeable with any other Bitpanda digital asset and the option of savings plans for regular investments. The sum acquired can be exchanged for bitcoin at the time the client wishes.
Bitpanda, with 1 million users and more than 100 employees today, partnered with precious metals brokers Pro Aurum and Philoro to securely store the underlying physical of the gold and silver chips offered by Bitpanda. The purchase starts with small quantities; that is, from 1 € and through various payment methods. It can also be canceled in Swiss francs, sterling pounds or US dollars.
On the occasion of the launch of Bitpanda Metals, the platform has established that it will not charge commissions for the purchase of gold until next June 15th. In addition, by investing at least 25 euros in silver the user is creditor of between 5 and 200 euros in gold or silver digitized.
“Gold and silver passed the test of time as a class of assets, and now we are taking it to the 21st century. With high transparency, very low rates and the same convenience as for other assets in our platform, we are interrupting the gold trading business. With Bitpanda Metals we allow small investors to buy without having to pay horrendous rates. This is a real game changer”, said Eric Demuth, CEO of Bitpanda.
The Austrian fintech is committed to bringing traditional financial products to the 21st century, in addition to ending current barriers to personal finance through the innovative power of cryptocurrencies, digitized assets and blockchain technology.
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