Core Bullion Trade, Coinify to help convert digital assets to gold

Core Bullion Trade, Coinify to help convert digital assets to gold

Core Bullion Traders- an Ireland-based company has introduced the country’s first service to allow customers to turn bitcoin into physical gold. The firm has extended a crypto payment solution that allows its customers to convert their digital gains into something with a tangible value.

The service has been launched in partnership with Coinify which allows customers to buy gold through a wide range of cryptocurrencies on the Core Bullion Trade website.

According to Nigel Doolin, Head of Trading at Core, the valuation of cryptocurrency has witnessed robust gains in the last few months and there has also been a sharp decline in its value, driving people to bank their gains in order to avoid huge losses. This has encouraged the company to offer the novel service that allows conversion of a highly risky asset to a safe one in a simplified manner.

As per a statement by Core Bullion Trade, there has been a significant increase in the sale of gold among people who were unaffected by the pandemic. Nearly 30% of the company’s business comes from small investors with people regularly spending 6,000 euros on a piecemeal basis, building their funds four to five times a year.

Speaking on the reason behind the introduction of the service, Core Bullion Trade mentioned that with most of the people investing in cryptocurrency, few have established an exit strategy to bank and secure their gains. The main rule is to diversify one’s asset portfolio and this new service by Core will simplify it for customers to liquidate and move into an asset class that continues to showcase strong performance.

Along similar lines, the value of gold stands at where it was a year ago, however it has increased by 35% and finished the year at 25%, thus proving to be a trustable bet.

Source Credit: https://www.belfasttelegraph.co.uk/news/republic-of-ireland/irish-company-launches-service-which-turns-bitcoin-into-gold-bars-40140879.html