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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 168213 times)
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October 13, 2017, 03:01:04 AM
 #3041

Greetings!

where does goldmint store its physical gold and which etfs back gold cryptoassets?

GoldMint's gold is locked up in its storage reserves. The amount of gold and the ratings of this gold are confirmed by bank statements which are uploaded in the GoldMint blockchain to guarantee transparency.

could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)

The average fee for storing physical gold is 0,25% from its estimated value a year.

will there be any auditing of goldmint assets?

An auditor from an objective TOP 100 audit company checks GoldMint's accounts each month and confirms that its gold reserves tally with its accounts and with its GOLD emission. On top of that, GoldMint has its own GoldMint internal auditor check its accounts several times a month.

With regards,
team GOLDMINT


Seems very interesting after launching how far this can for secure for storing. Everything seems to be good what are the benefits we are going to get if we buy goldmint coins.


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October 13, 2017, 03:04:56 AM
 #3042

Greetings!

how can i buy gold?

People who want to trade GOLD for fiat or cryptocurrency need to undergo GoldMint's KYC procedure. You can also get GOLD when you transfer your physical gold to Custody Bot or to GoldMint’s partner banks.

some people may wonder if they can exchange the gold token with the real gold bars. how are you going to explain this?

The price of one GOLD equals one ounce of physical gold on the LBMA. Applicants who want to trade GOLD for fiat need to undergo GoldMint's KYC procedure. If accepted, the applicant’s GOLD cryptoasset is transferred from his, or her, GoldMint wallet to a special GoldMint account and is converted to fiat. GoldMint sends this fiat to the applicant. So, the price with commissions you receive for buying GOLD is LBMA + 5%, selling - LBMA + 2%. Therefore the way fiat => GOLD => fiat will be 3%.

what can i do with gold assets?

You can use GOLD assets for the following:
Exchange fiat to cryptocurrency - Right now the fiat-cryptocurrency exchange market exceeds $400 million. Experts predict that this will reach billions once banks regulate the cryptocurrency industry.
Hedge volatility risks - Traders and other cryptocurrency users can hedge their gold commodity with GOLD on any cryptocurrency trading exchange, without leaving that particular platform. Traders can also diversify their trading portfolio with GOLD assets.
Payroll unit- Given its low volatility, you may prefer GOLD to BTC and altcoins for paying employees. Because of its low commissions, high speed, and affordability (no extra charges for transborder payments), you can also use GOLD instead of fiat for regular deals.
ICO currency - ICOs can ask for GOLD donations instead of regular cryptocurrency funds to hedge the high volatility risks that tend to accompany cryptocurrency.
Buy and transport physical gold - You can convert your physical gold into GOLD in any bank that uses the GoldMint blockchain platform. This not only protects cross-country gold transportation but also simplifies the process.

With regards,
team GOLDMINT

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October 13, 2017, 03:14:12 AM
 #3043

how is gold emitted?
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October 13, 2017, 03:20:01 AM
 #3044

which is the maximum amount of gold emitted?
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October 13, 2017, 03:27:18 AM
 #3045

what are the commissions for transactions in gold?
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October 13, 2017, 03:31:53 AM
 #3046

I see goldmint going
 Over 1 billion
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October 13, 2017, 03:37:01 AM
 #3047

Greetings!

how is gold emitted?

The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold.

which is the maximum amount of gold emitted?

The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot.

what are the commissions for transactions in gold?

Most times, when a person buys GOLD for fiat, the price for GOLD will be LBMA + 5%. When they want to sell their GOLD, the price will be LBMA +3%. The commission for managing gold is 0.2-0.8% per annum, depending on gold volatility and investor traffic. After analyzing the correlation between the value of gold and the stock price of the three largest ETFs - the GLD (announced expense ratio 0.4% ), the IAU ( 0.25% ) and SGOL ( 0.39% ) - we estimate that the real backlog of ETF shares in physical gold is about 0.7% (prices are taken from COMEX on the LME ).

With regards,
team GOLDMINT

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October 13, 2017, 03:42:16 AM
 #3048

do gold commissions depend on the country/citizenship?
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October 13, 2017, 03:48:03 AM
 #3049

how is it burned?
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October 13, 2017, 03:53:55 AM
 #3050

how can gold help me hedging risks on the cryptocurrency market?
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October 13, 2017, 03:58:38 AM
 #3051

Russian? Then good luck russsian team!
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October 13, 2017, 04:09:16 AM
 #3052

Greetings!

do gold commissions depend on the country/citizenship?

No. Rather, commissions and broker commissions are taken into account in calculating our commissions for GOLD.

how is it burned?

GOLD assets are burned, or destroyed, when physical GOLD is withdrawn from the Custody Bot.

how can gold help me hedging risks on the cryptocurrency market?

The price of GOLD is set according to the price of gold at LBMA market. GOLD has gentler volatility than cryptocurrency, so the risks of receiving less for buyback are less than had you used, say, bitcoin to make your transaction.

With regards,
team GOLDMINT

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October 13, 2017, 04:14:16 AM
 #3053

how can icos find gold profitable?
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October 13, 2017, 04:20:30 AM
 #3054

if the gold is damaged or stolen, who will take responsibility for?
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October 13, 2017, 04:26:10 AM
 #3055

How can it be both backed by real gold and run on blockchain?
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October 13, 2017, 04:32:57 AM
 #3056

Don't forget to get listed on all exchanges
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October 13, 2017, 04:42:59 AM
 #3057

Greetings!

how can icos find gold profitable?

For the same reason as above. Generally, ICOs receive their funding in cryptocurrency which has unpredictable and dramatic volatility. GOLD, which aligns itself to LBMA, can hedge unpredictable money losses after the ICO has launched.

if the gold is damaged or stolen, who will take responsibility for?

The gold we use to back GOLD digital assets is all insured.

How can it be both backed by real gold and run on blockchain?

A GOLD token can be issued if only GOLDMINT has a troy ounce of physical gold or ETF available to back it. To back tokens with gold means to provide 100% guaranteed anytime GOLD tokens buyback by GOLDMINT their self. That will provide stable price for these tokens which is in lack on market today.

With regards,
team GOLDMINT

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October 13, 2017, 04:49:14 AM
 #3058

What exchanges should we expect? I need liquidity on my investments.
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October 13, 2017, 04:57:47 AM
 #3059

gold token won’t be listed on any exchange, correct? and let’s say if i want to buy it, given that it requires the ‘kyc’, how and where will you sell your token?
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October 13, 2017, 05:05:57 AM
 #3060

Any gauranteed coin won't be dumped when it reaches exchanges ?
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