If you have a heavy crypto portfolio, maybe it’s a good time to diversify into gold?
Even though there are many ways to exchange metals over the web, there is nothing more transparent, robust, secure, and immutable than doing the same over a blockchain ledger. Within the purview of blockchain technology, precious metals can now be tokenized and this digitization brings with it many benefits for online users.
The Metex Exchange, while working on a similar innovative product, has now provided users with a dedicated platform to help everyone transact in gold, silver, platinum, and palladium. Metex’s vision involves creating an extensive ecosystem that revolves around the tokenization of metals, removing inefficiencies and traditional barriers.
In a world without blockchain technology, transacting in precious metals seems like a difficult task, especially because of the difficulties with accessibility and trust. But innovators like Metex are harnessing the power of blockchain technology to now revolutionize the exchange of precious metals all over the globe.
How does Metex and the Metal Exchange work?
Metex is registered in Australia, and it adheres to all relevant Australian regulatory guidelines for the trade of cryptocurrencies and tokenised metals. All metals traded on the Metex Exchange are full reserve tokens, meaning they are 100% backed by vaulted metals.
When a user buys the Metal backed tokens on the platform, the same amount of that precious metal is stored and secure in a vault in Australia. So, the user is getting the same value of the precious metal in a digitized form without having to worry about its physical storage. Best of all this means no storage fees and no insurance fees, whilst still having 100% claim to the metals.
There are currently 4 metal tokens available, all traded against Bitcoin and USDT. The acceptance of crypto currency trading pairs on the Metex Exchange allows everyday investors from around the globe to now easily gain access to precious metals. Users can now build their wealth one gram at a time.
Looking Closely at the Metals Configuration and Acceptable Currencies
The four precious metals that are available on the platform offer close to 100% purity. Gold and Silver assets have a 99.99% purity, Palladium, and Platinum boast 99.95% purity.
Metex is the token issuer for Platinum (MxPT) and Palladium (MxPD), whereas Gold Standard (AUS) and Silver Standard (AGS) tokens are managed by Ainslie Wealth located in Brisbane. Both companies complete internal reviews and ensure vaulted metals always match the issued tokens.
The exchange platform runs 24*7, and it is accessible from across the globe. To buy metals from the Metex Exchange, the user first need to deposit Bitcoin or USD Tether to the exchange and then convert them to metals by placing a buy order on the platform.
What does a Tokenized Metal bring to the table?
For the most part, a metal that is tokenized gives its owner digital exposure to the value of a precious metal without any of the drawbacks that physical ownership brings (Storage costs, Insurance, Transportation etc).
Metex Exchange aims to become a globally recognized marketplace for precious metals and to help investors from across the globe, participate in emerging investment practices.
With unprecedented uncertainly around global financial markets, Metex Exchange may also be a useful tool to help users diversify into precious metals. Metex brings transparency and extensibility to the table, which is sometimes absent in the traditional precious metals exchange market.
In a Nutshell
Metex creates an opportunistic market that is blessed with less friction and more transparency. Metex is a truly global metals exchange and is making it easier than ever to gain access to precious metals.