Goldmoney Adds Ethereum and Bitcoin Cash to Cold Storage Vault

Goldmoney Inc. (TSX:XAU), one of the biggest precious metals ‎storage firms, has announced the addition of vaulted Ethereum and ‎Bitcoin Cash as secure and fully-reserved offline investable assets ‎within Goldmoney Holding. ‎

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This move allows qualified clients to purchase the supported ‎Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with fiat currencies, or even precious metals, which ‎offers insurable, auditable and anti-money laundering compliant ‎exposure to the virtual asset class. ‎

Goldmoney said in a statement that it leverages its own expertise in precious ‎metals custody to deliver a security solution to cryptocurrencies. ‎‎“Securely stored in cold storage, client cryptocurrency holdings are ‎password protected and shielded from being used in hot wallets or ‎Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based third-party transfers,” it noted.‎

Originally, Goldmoney has been offering precious metal investment ‎services and payment networks. Established in 2001, the firm is ‎currently holding $2 billion worth of precious metals for customers located in ‎more than 150 countries. But as the hype around cryptocurrencies ‎has grown over the past few months, Goldmoney rolled out ‎vaulted Bitcoins in September 2017, offering institutional-grade custodial services for ‎blockchain assets.‎

Goldmoney Holding clients can now buy and sell Bitcoin and ‎Ethereum safely and keep the coins secured in cold storage, with more tokens or ‎currencies to be added in the months ahead. Bitcoin Cash will be added in the coming ‎weeks.‎

The Toronto-based firm offers its crypto services through a spin-off business called ‎Netagio, which offers a cold storage solution for coins.‎