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?
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.
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.
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.
A 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.
What are the pros and cons of Crypto-Gold Coins being 100% backed by a proven gold reserve rather than the actual gold metal?
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.
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:
When you have an unallocated account, it means that:
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.
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.
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.
This has a profound impact on the assets security. It means that:
Crypto-Gold Coin has the same benefits as a cryptocurrency as Bitcoin, and more. These include:
1. Built-in Scarcity Supports Value
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
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
7. Fewer Barriers and Costs to International Transactions
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
Step 1: Create your FREE account.
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