Netagio, a spin-off of GoldMoney Group, recently celebrated its 1st anniversary. GoldMoney is one of the largest precious metal storage companies in the UK. Netagio leveraged these capabilities in launching its high security Bitcoin storage vault solution. Clients can also buy bitcoins with multiple fiat currencies including GBP, EUR and USD and then store them securely.
Recently, they brought it all together with the launch of bitcoin-gold trading, a rare offering of two assets commonly viewed as deflationary in nature. DC Magnates spoke to Netagio CEO Simon Hamblin on his outlook for their offerings:
What is your outlook for the value of both Gold and Bitcoin over the next 5 years?
Netagio is not in the business of forecasting the future of gold or Bitcoin values. We do see, however, that both currencies complement each other. Gold is good store of value and Bitcoin is the ultimate transaction medium, so they can work well in concert.
Approximately how much gold has been exchanged for Bitcoin since the pair was launched?
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This is a relatively new product, launched in April this year. We are seeing a keen interest from customers exchanging gold for Bitcoin, Bitcoin for gold. The Bitcoin economy itself is still in its infancy relatively speaking to other currencies, so of those with interest in Bitcoin who are also interested in gold is an even smaller percentage of the asset class. We have seen, however, that there is a growing interest in both sectors together and we believe this will continue to rise.
Any plans to launch services for silver- or Litecoin, viewed by some as Bitcoin’s silver?
We are always aiming to keep abreast of market developments. We will always respond to the demands of our customers and we certainly have the technological capability and scale to add other asset classes and instruments.
How much more secure is your solution for bitcoins than that of Coinbase, considering their recently launched vault?
It wouldn’t be appropriate of me to comment on the Coinbase vault, however we have invested heavily, and continue to invest – in ensuring the security of our customer’s Bitcoins. We have a number of technical security features to ensure that your digital currency is protected. Our storage is ultra-secure, with the majority of coins stored off-line in our cold storage facility and held over multiple geographical locations across Europe, with resilient and fully encrypted back up facilities.