The crypto boom is spreading to the mainland. For the first time, a bank offers direct investments in digital currencies – and promises protection against hackers.
Bank Frick has made it possible to trade five crypto currencies with immediate effect, as the Liechtenstein-based bank announced on Wednesday.
Professional investors and financial intermediaries can invest in the digital currencies Bitcoin, Bitcoin Cash, Ether, Ripple and Litecoin once a day via the Frick platform. Cornerbank, Falcon, IG Bank, Leonteq, Swissquote and Vontobel already offer similar services in Switzerland.
To protect against hackers and thieves, Frick stores the crypto currencies in so-called cold storage wallets. These are physically separated from the Internet and cannot be hacked from outside, promises the bank.
With its offer, the institute has the ambition to bring cryptobanking at least to the same level of quality as traditional banking.
Read about interesting coins
As for the privacy coins – Monero coin (XMR) along with DASH (DASH coin) is most known. Right behind them, ZEC (Zcash cryptocurrency) and many forks of it are fighting for their place in the spotlight. Another well-known privacy coin is XVG (Verge) that generated lot of interest and hugh spike in its value back in January 2018.
One of the newer coins on the market is Po.et (POE) – a blockchain-based platform designed to track ownership and attribution for digital creative assets.
Kin is a cryptocurrency that will be used within the Kik messaging app, which is one of the world’s largest chat and social media platforms.