Here is a short description of what the New Gold Coins of CryptoGold will be and how they will function – more or less, it is not all official yet. The official announcement should be out about mid-February. See “The New GOLD COINS Are Coming” for a more exact description.
This operation essentially will put you into crypto-coins with a guarantee that you will get your money back as real gold in case everything goes under or gold skyrockets. The redemption value of your crypto-coin will be what you paid in in gold, not USD or whatever. Modern-day CYA!
Guaranteed Minimum Value
This is a way to get into crypto-currency with the guarantee that what you paid – valued in gold – you will be able to recover one:to:one.
As an example: You buy BTC 0.1000 of CryptoGold which has the value of 0.93149 XAU (and US$ 1’212.00) today (21. January 2018). You receive the BTC value of your coin in trading against USD, EUR, GBP, CHF etc.
When you want to sell your CryptoGoldCoin, you can either sell it as BTC on the exchange at whatever value it has there, or you can redeem it for exactly what you paid for it = 0.93149 XAU.
You should receive 0.93149 XAU regardless of what the value of the gold is in USD or whatever. You can hold or trade the redeemed gold since you can trade it over the counter. Whether you will receive the gold as XAU or physical gold, I don’t yet know. I expect that if you sell the CryptoGoldCoin to a third party, that the redemption guarantee will be null and void – i.e. no one other than the original buyer can convert the CryptoGoldCoin back to gold.
That is the theory. What the real procedure is has not yet been published, so we will have to wait to see how it works.
Craig Hesser for
Bitcoin Fortune Builder | http://bitcoinfortunebuilder.com
Original version 21 January 2018, rev 22. January 2018 Craig Hesser