The history of the humankind and probability of financial crisis has taught people to invest in matters that are independent from governments, institutions and official organizations, in materials that are never going to lose initial value and economic appeal. Common for these criterions are precious metals as platinum, gold, silver and even palladium. The modern world and technological advancements are not going to change the rules of the established game, but might make some progressive alterations. The chain of physical and touchable products can be continued with the precious online currency Bitcoin, the most expensive and popular among all existing cryptocurrencies at present time.
This idea is not new; it was born in the minds of several experienced entrepreneurs. The Elliptic Company from London pretends to be not only the first, but also the unique company offering offline storage of coins, respectively – of keys to electronic wallets. The service has been launched last week and current data associate the company with Lloyds. The procedure provided to customers is very easy - the values are stored on very safe offline servers and the machines are located in a secure location. The method reduces the possibility of hacker attacks and other violations, and is suitable for people, who see their virtual currency as long-term investments and are not using the coins in the everyday life for groceries and shopping.
The claim to be unique is argued by GoldMoney holding startup Netagio. The service established, mirrors the one of Elliptic. The servers processing the same task are based in the EU or Switzerland. The company is a remarkable competitor for any contender as it stores about 1,4 billion dollars’ worth precious metals in vaults located in five countries. However, was able to surpass anyone else. Part of the coins is under offline protection, but part can be assessed online – for fast transfer to exchanges or merchants. The guarantee of the safety is a two level protection – a common thing for respectful and reliable providers. The authentication of the users can be made from a single location known to the service.
The managing director Simon Hamblin voiced the future development strategy of the company. It considers the option to buy and sell coins under strict protection and guarantees. As the service exists from 2001, and has mostly satisfied loyal customers, the extension of features might be a safe step to make. At least the homepage of Netagio has already included the new options in the list of provided services.
The interest from precious metal specialists and vault-holders seems to be the recognition of the Bitcoin and its advantages. The attitude of such market giants might be a good way of advertising the Bitcoin and a positive impulse for authorities to change their minds in the closest future.
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