Friday, May 4, 2018

Bitcoin exchange that facilitates cryptocurrency for gold makes claim to be first to use Lightening Network protocols

A new cryptocurrency exchange created by ​Vaultoro is making the claim that they are the first exchange to utilize the new Lightening Network protocols in their business model.

In fact Vaultoro's new exchange will go beyond the standard model of facilitating cryptocurrency trading with fiat currencies as it will focus primarily on crypto's like Bitcoin being exchanged for physical gold.

The world’s first crypto-to-physical-gold exchange, ​Vaultoro​ has announced that it is now the first bitcoin exchange with an implementation of the Lightning Network as an instant deposit method. 
The company allows customers to trade gold with bitcoin directly, all the way down to 0.1 gram in quantity. Customers can hold the asset for seconds or years, with their ownership certificate securely stored on the blockchain. All gold holdings are physically stored by Pro Aurum in Switzerland and audited by BDO. The physical gold can be requested by customers or left in the vault, where it is also insured. Vaultoro is also working on a gold-backed debit card. – Bitcoin Magazine


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