Re: [ANN][ICO] HelloGold: Gold Backed Tokens from Live + Revenue Generating Business
Quote
I'm just curious if someone already withdrew their physical gold from your platform? I know it's easy to say that your gold is fully insured but the legalities surrounding this is too complex. That's why, for the owners of your tokens, they will just convert it to their fiat money or other cryptocurrencies rather than requesting to ship the physical gold that they owned. Bit complex if they will do that. Will end paying so much just to acquire their gold.
Customers from our mobile app product have redeemed physical gold, with no issue.
We do what we say
Our T&Cs are clear, and I believe we are actually setting best practice standards when it comes to letting our customers check the status of gold under management with us, providing daily update of assets under management as well as serial numbers for the gold bars. Gold is fully insured and audited.As for the price of gold redemption, I guess it depends the quantity you want to redeem; If it's a matter of a few grams, it is likely indeed that redemption fees will eat a big chunk of it. If you redeem 100grs, 1kg or more than it is another story. Redemption fees through us are in no way more expensive than through another provider, but at the end of the day we do deal with high value physical assets, and moving them around does come with costs, hence the greatness of GOLDX, the fully allocated 99,99% investment grade gold token !!