Launched and founded in 2015 by Joshua and Phillip Scigala, Vaultoro is a Bitcoin/gold bullion exchange. Vaultoro is the first of its kind, allowing its users to trade Bitcoin and gold bullion. It finds itself at #17 on BlockExplorer’s top 25 exchanges of 2017 list.
Vaultoro accepts Bitcoin directly, and altcoins via ShapeShift.io. It is recommended for all traders in its niche and there is also an API available for traders looking to trade programmatically.
Launched: 20 February 2015
Trading pairs: 1 (Gold/Bitcoin)
Deposit Fees: No
Withdrawal Fees: Yes, for bullion and for BTC
Trading fees: Yes 0.5%-0.2%
Vaultoro allows its users to trade Bitcoin for gold bullion, which is stored in a secure vault in Switzerland. When buying gold, some of the gold stored in the vault is marked as yours, which you can then withdraw. The gold you receive from withdrawal is not the same gold as that which was stored in the vault. Vaultoro sells the gold in the vault and sends you fresh gold from a refinery selected depending on your location.
Registration on Vaultoro requires only an email address and a password. Once entered, you will receive a verification email. Registration is complete once you verify your email address.
Vaultoro has a single verification level that is required to trade on the platform. Getting verified is a one-step process where you submit a large amount of personal information. You are required to submit your full name, date of birth, full address, a government ID, and proof of residence, with pictures to verify the last two.
When trading, there is a fee applied based on the size of the trade, measured in grams of gold. On the low end that is 0.5% for trades under 500 grams, and on the high end, it is 0.2% for orders over 5000 grams.
There are no fees on depositing Bitcoin, and for withdrawal, there is a 0.004 withdrawal fee.
For gold, you pay a 0.4% fee for storage per year, this fee is based on the current amount of gold you have, and is updated every 15 minutes. When withdrawing gold, as described above, you pay a fee which accounts for the smelting and forming of the bars at the chosen refinery. The specifics around the fees are based on which ‘zone’ your country is in, and there is a minimum of 100 grams for withdrawal. Note that you can only have gold delivered to your verified address.
The trading interface Vaultoro offers is rather simple, with a bright off-white background and muted colors. The off-white nature of the background makes it more comfortable on the eyes for late night trading than some of the clean white backgrounds on other exchanges. The interface has the current prices over time and your balances at the top. A combination chart and order book at the bottom. The current price and order submission in the middle.
Vaultoro offers two main account security features. Specifically, you can be notified via email for various account actions, such as login, withdrawal, and deposit, and you can secure your account by way of Two Factor Authentication.
Physical security-wise, the gold is stored in a Swiss vault operated by the German company Pro Arum.