GoldMint.io, the company pioneering in stable cryptocurrency hedged against real gold has opened its GOLD coin sale. The sale that began on April 12, 2018, allows cryptocurrency traders and standard investors to buy and sell these tokens on the Bancor Network in exchange for any of the 50 cryptocurrencies supported by the platform.
GoldMint’s GOLD coin is also available on both SIMEX (Singapore International Monetary Exchange) and IDEX (Decentralized Ethereum Asset Exchange). This is a once in a lifetime opportunity for cryptocurrency users to take advantage of this offer and purchase a stable coin to mitigate the risks generally associated with the cryptocurrency market.
The key building block that distinguishes GOLD from any other crypto-assets is the fact that real-world physical gold backs all GOLD coins. Gold is purchased on the Chicago CME exchange under delivery futures and then placed in a bank of the United States Federal System. In situations of high volatility, the GOLD tokens will allow crypto-investors to mitigate risk by converting their existing crypto-portfolio, instead of exchanging and parking the value in fiat currency.
The smart contract governing GOLD is designed to ensure that the number of tokens sold doesn’t exceed the amount of gold held by GoldMint. Additionally, the platform’s smart contracts guarantee complete transparency of information about all the operations including the amount of gold reserves held by the company. This information signifies the ability of GoldMint to buy back GOLD at the current trading price.
How to Buy GOLD?
The GOLD coins can be bought using any of the cryptocurrencies exchanged at the Bancor exchange which will later be transferred to Ethereum wallet. The GoldMint platform is based on Ethereum blockchain, making it compatible with Ether wallets as well. By the end of 2018, the team behind the GoldMint platform plan to launch their very own personal account which will be designed with a multi-currency purse allowing users to buy tokens using fiat money, or if they prefer, choose to perform bank transfer, or make a purchase using their credit cards.
About the Company
GoldMint PTE LTD is a Singapore-based blockchain company for tokenization of gold. In 2017 GoldMint launched its ICO which ended successfully after raising $7 million — used to facilitate the further development of GoldMint platform. The platform itself operates two assets: GOLD (secured by gold reserve) and MNTP token, which is used as a utility token on the GoldMint blockchain for transactional purposes. Also, MNTP token holders gain access to preferential commissions for their operations with the GOLD assets. The platform’s tokens are now available for trade on the Bancor exchange network as well as other exchanges including YoBit, SIMEX, IDEX, and EtherDelta.
The decentralized GoldMint platform is designed to allow gold owners trade, loan, invest and use their commodities for profit. GoldMint will buy, sell, and even, repurchase GOLD at the prevailing market price of physical gold. The firm will then use the physical gold as security.
Retains 100% of GOLD Value
So, what makes GoldMint different from other gold cryptocurrency blockchains? Well, the team of developers has a long history of working with gold and cryptocurrency. They also possess the marketing, programming, logical, technical, and operational skills needed to maintain the stability of the coin, long-term. Experience aside, GoldMint uses its own blockchain and altcoins called MNTP, for GOLD transactions. GoldMint also uses a Proof-of-Stake algorithm where miners are doled out block/transactions according to the amount of MNT they hold, making transaction significantly fast than that on the Bitcoin network.
Physical gold and ETFs are stored in a programmed decentralized storage unit by GoldMint. The gold reserves are equal to the mined GOLD tokens, as dictated by the GOLD smart contracts. Custody Bot is an innovative programmed safe deposit designed by GoldMint to store gold jewelry, small ingots of up to 100 grams and coins, away from any human interference.
GoldMint was established to help the platform users convert gold into GOLD crypto-assets, and if they so wish, reconvert these GOLD assets into gold, with ease. By converting the gold into GOLD, the user not only avoids aggravation but also retains 100% of the value of the gold at journey’s end.