Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️ - page 92. (Read 169030 times)
will there be any auditing of goldmint assets?
Greetings!
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.
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.
The average fee for storing physical gold is 0,25% from its estimated value a year.
With regards,
team GOLDMINT
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.
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.
With regards,
team GOLDMINT
nice work
could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)
where does goldmint store its physical gold and which etfs back gold cryptoassets?
what is an etf and how can it back gold?
Greetings!
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
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.
With regards,
team GOLDMINT
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
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.
With regards,
team GOLDMINT
Yes, this is a good idea
how is the gold asset backed by gold?
what is gold?
How GOLD is connected with real gold?
Greetings!
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.
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.
With regards,
team GOLDMINT
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.
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.
With regards,
team GOLDMINT
the step seem a little complexed//// but worth to get!
What is ETF?
Say if I want to take a loan from yours but won't I have to put something as collateral to you guys? If yes then how will I send you that collateral?
What about GOLD exchange rate?
How physical gold will be stored?
Greetings!
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.
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.
With regards,
team GOLDMINT
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.
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.
With regards,
team GOLDMINT
too complicated for most of people.. I think
Does any person can trade GOLD for fiat?
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