BitPanda introduces Digitized Gold & Silver for Trading
Bitpanda, the Austrian Crypto Trading Platform, revealed today a new trading service for digitized gold and silver that will work coherently with digital assets. These digitized gold and silver metals are backed by physical metals that are safely kept in a Switzerland vault. All purchased digitized gold & silver will be 100% insured by Bitpanda as well. This service was announced on May 13th, 2019.
It will be receiving their gold and silver from two metal brokers, Philoro and Pro Aurum. its stated during their announcement: “With Bitpanda Metals we are bringing the user experience and convenience of buying digital assets to the world of precious metals. The physically backed gold and silver can be traded with the same ease as with other digital assets on the Bitpanda platform.”
Minimal Trading Fees
Bitpanda, to gain the interest of traders, has a promotional offer that allows for no trading fees until June 15th of this year. However, the crypto trading firm will start to charge 0.5% on the trading value. Furthermore, players who choose to trade with digitized gold or silver will have to pay a 0.0125% storage fees based on the value of the precious metals purchased.
Bitpanda commented on the promotional offering, “To celebrate the launch of Bitpanda Metals, its charges no premium on buying gold, plus users receive €5 to €200 worth of tokenized gold or silver when they invest at least €25 in gold or silver on the Bitpanda platform,” the exchange noted.
Bitpanda also revealed during their May 13th announcement that they would provide swapping services, allowing metals to be transferred back into digital assets. All this news comes a month directly after this crypto exchange received their “Payment Service License” from the Financial Market Authority of Austria. This now allows to provide their services all across the European Union.