Crypto/Platinum Exchange

Crypto/Platinum Exchange

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What is Platinum?

Platinum is one of the world’s rarest metals with new mine production totaling only about 5 million troy ounces a year. It is a chemically, inert metallic element that is more valuable than gold. All the platinum mined to date would fit in the average-size living room. Platinum is mined all over the world with supplies concentrated in South Africa, accounting for nearly 80% of world supply, followed by Russia, and North America. The word “platinum” is derived from the Spanish term Platina meaning silver.

What are the primary price drivers?

  1. Production issues
    South Africa accounts for nearly 80% of world production. A sudden strike by a union could potentially lead to lower supply that could drive prices higher.
  2. Gold
    Correlation between the gold and platinum prices are historically very high. Gold is a major precious metal commodity, and it’s often used as a benchmark for platinum as well.
  3. Industrial and Jewelry demand
    An increase or decrease in demand for platinum by industries and jewelry markets could influence the value of short and long term prices.
  4. Geopolitical events
    There is barely any lack of turmoil in global affairs, and it’s almost certain that geopolitical events are going to dominate the markets soon as well. It all boils down to the fact that the event risk affects the price of platinum positively and may act as a potential hedge.

Which are the primary consumer sectors?

1. Jewelry industry

Because platinum will never tarnish, lose its rich white luster, or even wear down after many years, it is prized by the jewelry industry. The international jewelry industry is the largest consumer sector for platinum, accounting for 51% of total platinum demand. In Europe and the U.S., the natural purity of platinum is 95%. Ten tons of ore must be mined, and a five-month process is needed to produce one ounce of pure platinum.

2. Auto industry

The second major consumer sector for platinum is for autocatalysts, with 21% of total platinum demand. Catalysts in autos are used to convert most of the vehicle emissions into less harmful carbon dioxide, nitrogen, and water vapor.

3. Other industries

Platinum is also used in the production of hard disk drive coatings, fiber optic cables, infra-red detectors, fertilizers, explosives, petrol additives, platinum-tipped spark plugs, glassmaking equipment, biodegradable elements for household detergents, dental restorations, and in anti-cancer drugs.

Where is the most liquid market?

Platinum futures and options and futures are predominantly traded at the CME Group. Platinum futures are also traded on the Tokyo Commodity Exchange (TOCOM). The CME platinum futures contract calls for the delivery of 50 troy ounces of platinum (0.9995 fineness) and the contract trades in terms of dollars and cents per troy ounce.

Consider buying a crypto-platinum

Our crypto/platinum exchange leverages Digital Asset Collateralized Contracts (DACCs), a model that allows converting your cryptocurrencies into commodities, without having to move money from one wallet to another. The DACCs act somewhat like a stablecoin whose value can be pegged with a reliable price feed to the value of USD. You can buy and sell platinum with crypto seamlessly and hold it on your private keys. Simply said, you can buy platinum with Bitcoin.

Open an account

To trade on platinum prices with Virtuse crypto/platinum exchange, you’ll need to open an account. It takes a matter of minutes, can be done entirely online, and there’s no obligation to fund once you’ve finished your application.

However, you will need to fund before you place your first trade. Funding a wallet account is simple – you can use send USDT, Bitcoin, ETH to your wallet, or soon will be able to fund it with a debit or credit card.




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