Vaultoro
Vaultoro Limited, Inc.
| Industry | eWallet, exchange |
| Founded | Feb 15, 2015 |
| Headquarters | London, England / Berlin Germany |
| Founder(s) | Joshua Scigala, Philip Scigala |
| Website | vaultoro.com |
Vaultoro is a hosted web-based eWallet used for sending, receiving, and storing bitcoins. The primary purpose of Vaultoro is to enable anyone to trade into allocated gold instantly and secure that gold in a profesional top-tier audited & insured vaulting facility based in a duty free zone in Zurich Switzerland.
Vaultoro.com is the first live exchange to enable traders to trade between bitcoin and physical gold with other members of the exchange.
Deposits
- Bitcoin
- All Altcoins supported by Shapeshift
Withdrawals
- Bitcoin
- Physical Gold
Features
- Real-time trading between physical gold and bitcoin
- Trade a minimum of 5 cents worth of bitcoin or gold
- Gold is Audited and insured
- Bitcoin holdings are publicly audited and help in multi-sig cold storage.
- Gold is held in the customer's name so if something was to happen to vaultoro clients have full ownership and writes to their gold.
- No need to verify your identity unless you want to deposit more than $5000 worth of bitcoin per day.
- 0.5% - 0.2% trading fees depending on traders 30 day volume.
- All gold is Vaulted in professional bullion vaulting facility within Switzerland's duty-free zone.
History
After a year of development, the exchange was opened for the public in February 2015.
- Vaultoro is the first real-time Gold / Bitcoin exchange in the world.
- Vaultoro uses a 100% transparent public audit both of bitcoin and gold holdings while keeping its clients'identities private.
- Joshua Scigala, one of Vaultoro's co-founders lost money to the MtGox collapse. This inspired him and his co-Founder Philip Scigala to develop an exchange that could be radically transparent.
- In mid-February 2015, Vaultoro secured a 100,000 Euro angel round of private funding.
- In mid-2017, Vaultoro secured a 7 figure investment round seed round from FinLab AG
- In Feb-2018, Vaultoro became the first major bitcoin exchange in the world to accept main net lightning network deposits.
- In Nov-2019, Vaultoro secured a 1.1 million dollar crowd investment through BNKTOTHEFUTURE valuing the company at $13 million
Transparency and Auditing
- All bitcoin and gold holdings can be audited publicly. The bitcoin is audited via that blockchain, and the Gold is audited publicly and privately.
- Vaultoro invented a transparency protocol in 2015 called "The Glass books protocol" and released the idea as public domain to promote transparency in crypto exchanges. Mtgox famously collapsed and due to lack of transparency, all creditors lost their money, this inspired Joshua and Philip Scigala to invent an open transparency protocol that was easy to use.
- Vaultoro’s "Glass Books Protocol" works as follows.
- All clients receive an anonymous client ID
- All anonymous client ID’s and holdings are published and can be verified by everyone without being logged into the system to Vaultoro do not know when anyone is checking.
- The client can see the sum of all bitcoin and gold holdings and compare that to vaultoro's gold auditing statements and vaultoro's cold wallets
- The gold holdings are audited by BDO
- Clients can verify the insurance certificate
See Also
External Links
- vaultoro.com Gold bitcoin exchange website
- Reddit AMA with Joshua Scigala, a Co-Founder of Vaultoro