Backed By Gold

We Have The Gold

Backed by Gold

 

 

Crypto-Gold Coin has all the technology and security of Bitcoin, with all the value and certainty of gold because every Crypto-Gold Coin is 100% backed by gold.

Yes, that is right, 100,000 ounces of gold has already been secured for one purpose only, as a backing for 10,000,000 Crypto-Gold Coins. There is a security and first mortgage over this gold that is held in trust for all Crypto-Gold Coin owners. What does this mean?

 

This means:

  • The gold can only be redeemed for Crypto-Gold Coin and nothing else.
  • The gold cannot be sold or transferred in any way or form to any other party besides in return for Crypto-Gold Coins.
  • The gold cannot be claimed by anyone under any circumstances, not even by the government or by any creditors. It can only be redeemed for Crypto-Gold Coins.
  • This type of security and mortgage is safer than any gold storage facility in the world.

 

We Have The Gold

 

Each Crypto-Gold Coin is 100% backed by gold. This gold is part of Citigold’s proven gold reserves and is not gold sitting somewhere in a gold storage facility.

 

Proven gold reserve

 

So, what is the difference and is the fact that it is a proven gold reserve instead of the actual metal in storage better or worse for you?

To fully understand this, it is important that we first explain exactly what the differences between gold reserves and gold resources are. For a detailed explanation click here.

 

Gold resource

 

A gold resource is a concentration or occurrence of gold of intrinsic economic interest in or on the earth’s crust in such form, quality, and quantity that there are reasonable prospects for eventual economic extraction.

In other words, geologists know that the gold is there and that there is a possibility that it can be mined.

 

Jorc Code

 

Proved Ore Reserve is the part of Measured resources that can be mined in an economically viable fashion. It is an extremely expensive and onerous process to have a resource classified as a reserve under the Jorc Code.

 

It is such a thorough process that any gold reserve under the Jorc Code is in fact a bankable asset. Once a deposit is elevated to reserve status, it is an economic entity and an asset upon which loans and equity can be drawn, it can even be sold like any other asset. Learn More

 

So now that we understand that the proven gold reserve is as much of an asset as the actual gold metal itself, the next question is obvious.

 

Proven gold reserve v. gold metal

 

What are the pros and cons of Crypto-Gold Coins being 100% backed by a proven gold reserve rather than the actual gold metal?

 

gold

gold

At first glance it appears as if it would be more beneficial to have the actual gold metal in a gold storage facility of some sort, but when you understand the various dynamics you soon realize that it is just the other way around.

 

Backing with the actual metal

 

All gold storage facilities are private enterprises that purchase, store and sell their gold all over the world. Any individual or corporation that want to purchase gold can open an allocated or unallocated account with such a storage facility.

 

The difference between allocated and unallocated accounts are simple, but of great importance.

 

When you have an allocated account, it means that:

  • You purchase specific marked gold bars or bullion.
  • This gold is then kept by the facility on your behalf and incurs a pretty hefty annual storage and administration fee.
  • Purchasing smaller quantities than a bar, incurs substantial additional minting or casting fees as the gold has to be re-cast in smaller units.
  • Usually the minimum volume of gold you can purchase for safe keeping in an allocated account exceeds US$10,000.00 per order.
  • When you purchase the gold you pay the bid price but when you sell it, you receive the ask price. There can be a substantial difference between the bid and ask price of gold at any given moment, and it’s never in your favor.

When you have an unallocated account, it means that:

  • The gold you purchase forms part of a general pool of gold that is always in transit in the storage facility.
  • Your gold cannot be identified a yours and form part of the general asset base of the storage facility. This can potentially result in a nightmare for gold owners of this type of account, should the facility run into financial difficulty.
  • Usually quite high minimum purchases apply as well
  • One again you also deal with a bid and ask price when purchasing gold I an unallocated account.

No matter whether you have an allocated or unallocated account, movement of the metal in and out of the storage facility is one of the most regulated transactions in the world and can only be done to the bank account and address registered for that account.

This is one of the main problems with storing the actual metal. Movement is highly regulated and very expensive.

With either accounts you can liquidate your metal on very short notice and have the money for the sale transferred to the bank account registered against this account. It is also possible to, for a substantial fee, request delivery of the gold to the address registered with the account.

For a single account holder, whether an individual or corporation, this is not a problem as the metal can simply be delivered to the account address.

 

We Have The Gold – Crypto-Gold Coin

 

However, for an account like Crypto-Gold Coin, it’s a different story.

Crypto-Gold Coin has thousands and thousands of gold owners that may, when the time comes, want to redeem their gold at any time.

The gold or the money for redeeming it, can only be delivered to Crypto-Gold Coin’s address or Bank account.

The money can quite easily be transferred to the coin owners account, but the gold? That is a different story. It is an expensive and time consuming exercise to move actual gold metal over country boarders, if at all possible.

 

Backing with a gold reserve

 

Gold reserves are a non-movable, bankable asset just like property. And just like a bank can have a mortgage over property.

Crypto-Gold Coin has a first mortgage registered over the 100,000oz of the available gold reserves, and this mortgage is held in trust for all Crypto-Gold Coin owners.

Gold in the ground

Gold in the ground

 

 

 

 

 

 

 

 

 

 

This has a profound impact on the assets security. It means that:

 

  •   No third party, besides Crypto-Gold Coin owners, can ever access or claim any rights over the gold.
  •   The asset cannot be sold to anyone, ever. With the only exception that Crypto-Gold Coin can sell the reserve in order to purchase gold for Crypto-Gold Coin owners, in the very unlikely event that the mine has not started mining by the due date.
  •   The asset will always belong to the Crypto-Gold Coin owners, even if the mine gets sold, any new owners have to comply with the conditions of the mortgage security.

 

 

 

SUMMARY

 

Benefits as a Cryptocurrency

 

Crypto-Gold Coin has the same benefits as a cryptocurrency as Bitcoin, and more. These include:

 

1. Built-in Scarcity Supports Value

  • Most cryptocurrencies are hardwired for scarcity
  • the source code specifies how many units can ever exist
  • This makes cryptocurrencies more like precious metals than normal money.
  • Cryptocurrencies therefore, just like precious metals, offer inflation protection unavailable to fiat currency users.
  • Crypto-Gold is 100% backed by of 100,000oz of 24k gold, so the “mathematical” and precious metal scarcity guarantee value and stability.

2. Robust Privacy Protections

 

Cryptocurrency proponents still focus on privacy and anonymity as a chief concern.

 

3. Loosening of Government Currency Monopolies

 

Cryptocurrencies offer a reliable means of exchange outside the direct control of national banks. People who are worried about quantitative easing and other forms of loose monetary policy, therefore find cryptocurrencies an effective alternative.

 

4. Self-Interested, Self-Policing Communities

 

  • Mining is a built-in quality control and policing mechanism for cryptocurrencies.
  • The blockchain pays Miners to keep accurate, up-to-date transaction records.
  • This secures the integrity of the system and the value of the currency.
  • The added value of the 100,000oz of gold guarantees value.

5. Harder for Governments to Exact Financial Retribution

 

Governments can easily freeze or seize domestic bank accounts. They can even reverse transactions made in local currency but they cannot do this with cryptocurrencies.

 

6. Generally Cheaper Than Traditional Electronic Transactions

  • Cryptocurrencies’ security features eliminate the need for a third-parties such as banks, Visa or PayPal.
  • Cryptocurrency transaction fees are generally less than 1% of the transaction value in comparison with the 2.5% to 3% for credit card and PayPal.

7. Fewer Barriers and Costs to International Transactions

  • Cryptocurrencies don’t treat international transactions any differently than domestic transactions.
  • Transactions are either free or very small because of this.
  • Fiat currency direct international money transfers can be very expensive, with fees sometimes exceeding 10% or 15% of the transferred amount.

 

 

Steps To Buying Crypto-Gold Coin from We Have The Gold

 

If you want to invest in Crypto-Gold Coin take the following four steps.

 

Step 1: Open your FREE account

Step 2: Buy Crypto-Gold Coin – Pay Pal, Credit Card, Bank Deposit (Wire Transfer), Ether

Step 3: Affiliate Agreement

Step 4: Affiliate Registration

Buy Crypto-Gold Coin

 

Step 1: Create your FREE account.

Instant Access

 

 

 

Open with Google Chrome

 

Step 2: When you have created your account, record the Reference number (ACC Ref ) which is located at the top of the form.

 

Step 3: Buy some Crypto-Gold Coin

Buy Now

 

 

 

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