• NOW

Goldmoney Launches Ether and Bitcoin Cash Cold Storage

As cryptocurrency investing is becoming more mainstream, it keeps attracting wealthier and more cautious established players. To answer the need for enhanced security by such investors, one of the biggest names in the gold business, Goldmoney, has now expanded its bitcoin cold storage service to include ethereum and bitcoin cash.

Also Read: Las Vegas Strippers Accept Bitcoin via QR Tattoos

Goldmoney Expands Cold Storage

Goldmoney Launches Ether and Bitcoin Cash Cold StorageGoldmoney, a precious metal investment service and payment network traded on the Toronto Stock Exchange (TSX:XAU), is expanding its bitcoin (BTC) cold storage to include two more cryptocurrencies. The company has announced that ethereum (ETH) is now available to all its ‘Full Verified Goldmoney Holding Owners’ as a fully-reserved offline investable asset, with bitcoin cash (BCH) to follow in the coming weeks.

Clients can now directly purchase auditable and AML-compliant (Anti-Money Laundering) ethereum and sell their holdings back to Goldmoney in the same way they trade precious metals. The company explains that “securely stored in ‘cold storage’, client cryptocurrency holdings are password protected and shielded from being used in hot wallets or third-party transfers.”

From Gold to Crypto

Goldmoney Launches Ether Cold Storage, Bitcoin Cash Coming Very SoonAccording to its public records, Goldmoney is safeguarding nearly $2 billion in assets for clients located in more than 150 countries and brings in $524 million in yearly revenues. Back in December 2017 it was revealed that the gold specialist is now involved more in the cryptocurrency business than the precious metal trade that gives it its name.

The company’s founder, Roy Sebag, commented at the time that: “While it’s personally intellectually displeasing, it is becoming clear that since Goldmoney launched crypto (with only bitcoin), our net bitcoin sales per day have grown to become bigger than precious metals. We are seeing nearly half a mill $ a day of net crypto accumulation.”

Support for BCH cold storage, following BTC and ETH, is a predictable step as the cryptocurrency has been becoming ever more widely available recently. For example, the American ATM network Athena Bitcoin earlier this month added support for buying and selling bitcoin cash for USD on all its machines in dozens of physical locations across the US and Mexico.

Are wealthy gold bugs a natural audience for ethereum and bitcoin cash adoption? Tell us what you think in the comments section below.

Images courtesy of Shutterstock.

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

Tags in this story
AML, BCH, bitcoin cash, Bitcoin storage, Canada, Cold Storage, ETH, ether, Ethereum, GoldMoney, Toronto
Five Simple Ways to Increase Your Privacy When Using Cryptocurrency

Cryptocurrency without privacy is pointless. If your coins aren’t fungible, you lose much of the benefits of using cryptocurrency in… read more.

Quadrigacx Cold Wallet Was Stored in a Safety Deposit Box

In a 2014 appearance on the True Bromance Podcast, Gerry Cotten, the late CEO of embattled Canadian cryptocurrency exchange Quadrigacx,… read more.

Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.