Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️ - page 169. (Read 169030 times)
where does goldmint store its physical gold and which etfs back gold cryptoassets?
Greetings!
GOLD is GoldMint's cryptoasset. It’s value is aligned to the current LBMA price of gold. One GOLD equals one ounce (31,1035 grams) of gold (999 quality) on the stock exchanges + 5% commission (max.)
All of GoldMint's GOLD is backed by the reserves of physical gold or ETF that GoldMint has in its reserves. If there's not enough gold in GoldMint reserves, the company buys extra gold or ETFs in Switzerland.
An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs offer low-cost diversification, trading and arbitrage options. New ETFs range from several dozen to hundreds in any particular year. They can be used to back GOLD, since there is a high demand for ETFs in the gold market. Top ETFs for gold can be found on ETFDB.
With regards,
team GOLDMINT
what is gold?
GOLD is GoldMint's cryptoasset. It’s value is aligned to the current LBMA price of gold. One GOLD equals one ounce (31,1035 grams) of gold (999 quality) on the stock exchanges + 5% commission (max.)
how is the gold asset backed by gold?
All of GoldMint's GOLD is backed by the reserves of physical gold or ETF that GoldMint has in its reserves. If there's not enough gold in GoldMint reserves, the company buys extra gold or ETFs in Switzerland.
what is an etf and how can it back gold?
An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs offer low-cost diversification, trading and arbitrage options. New ETFs range from several dozen to hundreds in any particular year. They can be used to back GOLD, since there is a high demand for ETFs in the gold market. Top ETFs for gold can be found on ETFDB.
With regards,
team GOLDMINT
what is an etf and how can it back gold?
Looking good. Got my eye in this. What will happen to the classic chain.
how is the gold asset backed by gold?
what is gold?
Greetings!
Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges + max. 5% commission for fiat-GOLD-fiat– no more than 4%
ETF (Exchange Traded Funds) - An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange.
The three most popular ETFs are “Spiders” (ticker (NYSEARCA:SPY)), “Diamonds” (ticker (NYSEARCA:DIA)) and “Qs” or ""Qubes"" (ticker (NASDAQ:QQQ)).
Top ETFs for gold can be found on ETFDB . The commission for the management of a portfolio of gold is 0.2-0.8% per annum, depending on the volatility of gold and the inflow / outflow of investors. 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 ). Commissions and broker commissions are taken into account in calculating our commissions for GOLD.
GOLD is a crypto asset issued by GoldMint that uses the current price of gold set on the LBMA exchange at the time of sale.
● Equal to one ounce (31,1035 grams) of gold (999 quality)
● Shards into 100,000 parts.
● Commissions are given in GOLD.
Information is transmitted to the blockchain ledger about the number of ounces of physical
gold or ETFs owned by GoldMint. ETF is bought on he stock exchange NYSE, Arca and subsequent information is publicized on GoldMint’s decentralized blockchain, making it transparent and open to all members. Statements are received from the depositary (electronic or printed).
All physical gold owned by GoldMint exists in the following forms:
a. Manufacturer-certified bullions
b. Gold coins
c. Gold jewelry
d. 999 quality granules, stamped by manufacturer
With regards,
team GOLDMINT
What about GOLD exchange rate?
Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges + max. 5% commission for fiat-GOLD-fiat– no more than 4%
What is ETF?
ETF (Exchange Traded Funds) - An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange.
The three most popular ETFs are “Spiders” (ticker (NYSEARCA:SPY)), “Diamonds” (ticker (NYSEARCA:DIA)) and “Qs” or ""Qubes"" (ticker (NASDAQ:QQQ)).
Top ETFs for gold can be found on ETFDB . The commission for the management of a portfolio of gold is 0.2-0.8% per annum, depending on the volatility of gold and the inflow / outflow of investors. 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 ). Commissions and broker commissions are taken into account in calculating our commissions for GOLD.
How GOLD is connected with real gold?
GOLD is a crypto asset issued by GoldMint that uses the current price of gold set on the LBMA exchange at the time of sale.
● Equal to one ounce (31,1035 grams) of gold (999 quality)
● Shards into 100,000 parts.
● Commissions are given in GOLD.
Information is transmitted to the blockchain ledger about the number of ounces of physical
gold or ETFs owned by GoldMint. ETF is bought on he stock exchange NYSE, Arca and subsequent information is publicized on GoldMint’s decentralized blockchain, making it transparent and open to all members. Statements are received from the depositary (electronic or printed).
All physical gold owned by GoldMint exists in the following forms:
a. Manufacturer-certified bullions
b. Gold coins
c. Gold jewelry
d. 999 quality granules, stamped by manufacturer
With regards,
team GOLDMINT
sorry there's something i don't understand . it said by q2 2018 . 1 gold token= 1oz of gold like 1 token = 1200$ !
can you explain ?
can you explain ?
How GOLD is connected with real gold?
What is ETF?
What about GOLD exchange rate?
Interesting... Watching!
Greetings!
All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet.
You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC* procedure.
Physical gold is locked-up in storage and rated according to its value:
Moody’s - A2 and above.
Standard and Poor's - A and above.
Fitch - A and above.
With regards,
team GOLDMINT
How will amount of physical gold will be controlled?
All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet.
Does any person can trade GOLD for fiat?
You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC* procedure.
How physical gold will be stored?
Physical gold is locked-up in storage and rated according to its value:
Moody’s - A2 and above.
Standard and Poor's - A and above.
Fitch - A and above.
With regards,
team GOLDMINT
"stay tuned
waiting bounty fb and twitter has started"
waiting bounty fb and twitter has started"
How physical gold will be stored?
Does any person can trade GOLD for fiat?
How will amount of physical gold will be controlled?
Do you distribute income to investors?
Greetings!
The characteristics of the GOLD cryptoasset include the following:
100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price.
GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets
GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does
A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
The ability to receive passive income as market price of GOLD rises.
Robotic storage unit Custody Bot
Buyback of GOLD for fiat according to the current price of GOLD.
A fast user registration system and identification.
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract.
With regards,
team GOLDMINT
What is a key features of GOLD cryptoasset?
The characteristics of the GOLD cryptoasset include the following:
100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price.
GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets
GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does
A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
The ability to receive passive income as market price of GOLD rises.
Robotic storage unit Custody Bot
Buyback of GOLD for fiat according to the current price of GOLD.
A fast user registration system and identification.
Why tokens are Gold-backed? Why not using any other precious metals or other asset?
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.
What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract.
With regards,
team GOLDMINT
Great! were and when it will be listed
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