The popular Swiss Cryptocurrency broker Bitcoin Suisse now introduced a new service for the crypto investors. The broker accepts gold and other precious metals in exchange for crypto tokens as we are reading in the latest cryptocurrency news today.
The Zug-based Swiss cryptocurrency broker Bitcoin Suisse, introduced the exchange between precious metals and cryptocurrencies according to the latest statement released by the company. Now, investors can pay for Bitcoin and Ether with gold, platinum, or silver without the delays. The clients of Bitcoin Suisse can also check the value of the metals of the coins in the dollar, euro, pound, franc, and Danish kroner.
This move is extremely important as it creates a direct link between gold as a safe haven asset with digital assets which are gaining traction on the crypto markets. Both Bitcoin and gold have had a great year so far as the first one increased 24 percent since January and the second increased by 14 percent. The Swiss Market Index dropped by 7 percent while the franc considered a safe haven gained 4 percent against the euro while still remaining stable against the dollar.
Precious metals dealers were quick to establish a new correlation between gold and Bitcoin. A well-known German gold trader Pro Aurum had a platform for such transactions since 2018 while the rival Degussa is now working with a Zug-based startup Crypto Finance for a similar service.
As per the recent reports, the Bitcoin Suisse founder of the Swiss crypto broker firm Niklas Nikolajsen, predicts that bitcoin will shift to proof-of-stake once the Ethereum network proves that the algorithm is successful. The current proof of work consensus algorithm which was the pioneering concept that actually pre-existed Bitcoin came to be indissociable from the cryptocurrency which will likely change in the future as the Bitcoin Suisse founder argued.
Also, The financial service company Bitcoin Suisse announced they will offer a high-security staking process for Tezos holders. The large organization claims that the addition comes right after the increased interest from institutional investors to the staking services for digital assets. The organization already manages about $1 billion in assets and it will now allow XTZ stakers to do it with the security of an institutional grade-crypto custody provider.
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