Vaultoro is a centralized exchange that allows individuals to use Bitcoin to purchase gold, which is then held for you in a high-security vault in Switzerland.
Unlike traditional banks, where money deposited becomes property of the bank to use or lose, trading Bitcoin for gold means that you will always have this gold waiting for you. Monthly audits means that your gold is safe, is always available when you want to use it, and monthly statements are issued to all individuals.
Eventually, Vaultoro plans to offer a basket of commodities for users to trade in, including silver and platinum, and possibly palladium and other cryptocurrenceis. They are also working on creating a debit card that would allow users to spend their gold in real time.
For more information, visit www.vaultoro.com.