Austria-based fintech Bitpanda announced on Monday it has launched gold and silver trading for its one million users. Bitpanda reported that with Bitpanda Metals it is introducing the user experience and convenience of buying digital assets to the world of precious metals trading.
Bitpanda also revealed it partnered with precious metals brokers pro aurum and philoro to securely store the physical underlying of the gold and silver tokens offered by Bitpanda.
“The physically backed, digitized gold and silver can be traded with the same ease as with other digital assets on the Bitpanda platform. Users can buy small amounts beginning from €1 using a wide variety of payment methods and pay in Euro, Swiss Franc, British Pound or US Dollar. Gold can be bought for no fees no matter the amount (after the launch promo for a low fee of just 0,5%), and stored for a transparent and industry-wide unique storage fee of just 0,0125% per week. Gold and silver holdings are 100% insured. Users can sell anytime they see fit, and they are also able to instantly swap any amount of their gold or silver holdings with Bitcoin and any other available digital asset available on Bitpanda.”
Speaking about the launch, Bitpanda CEO, Eric Demuth, stated:
“Gold and silver stood the test of time as an asset class, and we are now bringing it to the 21st century. With high transparency, very low fees and the same convenience as for other assets on our platform, we are disrupting the gold trading business. With Bitpanda Metals we allow small investors to buy without having to pay horrendous fees. This is a real game changer.”
As previously reported, Bitpanda claims to be Europe’s leading retail broker for buying and selling Bitcoin, Ethereum, IOTA and other cryptocurrencies. The platform has more than one million users.
“At Bitpanda we are firm believers in the innovative power of cryptocurrencies and the blockchain technology. Our mission is to be the key driving force in the ongoing fintech revolution by providing easy-to-use, safe and trustworthy access to any digital assets for both new and experienced users.”
Bitpanda added to celebrate the launch of Bitpanda Metals, it charges no fees on buying gold until June 15th, plus users receive 5 to €200 worth of digitized gold or silver when they invest at least €25 gold or silver on the Bitpanda platform.
