More and more interesting partnerships are being formed in the world of Bitcoin and digital currency. If we ever want to make the concept of buying, selling and trading Bitcoin a lot easier, several parties will need to come together to create a seamless experience. Now that Vaultoro has partnered with ShapeShift, users can now trade gold against over 20 different digital currencies.
Vaultoro – Trading Gold & Bitcoin
Vaultoro is an interesting platform which merges existing valuable commodities – in this case, physical gold – and lets users trade it against digital currency (Bitcoin). In fact, Vaultoro is the world’s first real-time Bitcoin gold trading platform open to users from all over the world. Staying true to the nature of the free market, all prices – for both physical gold and Bitcoin – are set by the users.
As you would come to expect from any online service dealing in physical gold, there are ample layers of security to prove that you have “ownership” of the physical gold in exchange for your virtual Bitcoin. By storing this physical gold in top-tier Swiss bullion vaults, and securing physical gold to usernames, Vaultoro is bringing the best of both worlds together.
However, history has shown us that being transparent is the key to success when dealing with customer funds. And when you are dealing with physical assets on top of digital currency, one can never be transparent enough. Vaultoro’s physical gold reserves are fully audited by BDO International and every tiniest speck is 100% insured.
In order to make Vaultoro appealing to both small and large traders, the team has managed to keep trading fees rather low. Trading fees start at 0.5%; as you start trading more, the percentage goes lower – to a minimum fee of 0.2%. Do keep in mind a storage fee of 0.4% is also applicable, which will grant you the full insurance of your physical gold assets.
“We were wanting to offer multiple altcoin payment options to customers and ShapeShift.io was the perfect answer. Their API is elegant and was so simple to incorporate into our platform. ShapeShift makes it seamless for someone to send us, say, dogecoin or litecoin, and it gets instantly converted to bitcoin and sent to the user’s Vaultoro account.” – Vaultoro Co-founder Joshua Scigala told DigitalMoneyTimes.
Partnering With ShapeShift.io
By integrating ShapeShift’s API into the Vaultoro platform, users from all over the world can now use several other digital currencies to trade for a chunk of physical gold. Currencies such as Monero, DASH, Dogecoin, Litecoin and several others can now be traded against physical gold through ShapeShift and the Vaultoro platform.
“Cryptocurrency, like gold and silver, is real money because its value comes from the market, not from government diktat. With this integration, it’s now easier for people all over the world to trade between these forms of real money, and avoid fiat currencies entirely.” – ShapeShift CEO & Founder Erik Voorhees told the media.
Images courtesy of Vaultoro and ShapeShift