Photo Credit To Muhammad Mahdi Via Flickr
Karatbars International was amongst the earliest firms to explore the concept of gold-backed crypto coins. Senator Harald Seiz launched the project in 2011. He envisioned a solution for affordable, convenient, and safe ownership of gold. The project achieved this by offering low-cost 24K 999.9 gold bullion products via cashgold and crypto coins.
A gram of 24K 999.9 gold bullion, processed by a facility accredited by the LBMA is sold at prevailing market prices. Free storage is offered or the option for FedEx delivery to more than 120 nations. The Karatbars project also allows anyone to accept gold as payment or exchange it offline or online via the Karatpay app.
What to do with the Gold
Gold has always been considered a safe store of value, ever since it was originally labeled as the gold standard a while back. There is no longer a gold standard in place, but many are starting to get a gold fever with all the turmoil in traditional markets. Gold price trend has appreciated by an average of 10% annually in the last half-century. The best time to purchase gold is when its prices dip since it always comes back up.
Why it is So Hard to Save in Gold
The karatbars project believes this is because central banks and governments do not want you to find out about it. Surprisingly, central banks hold 58% of the world’s gold today. According to Karatbars, this is designed to keep the world in accumulating debt from getting a university loan to getting a car loan. They believe this accumulative debt is designed to keeps banks and government earning from gold at an average of about 11% annually. When you save money, you usually get just one percent interest or slightly above it. Fiat currency loses value each year and banks would prefer that you have that instead of gold.
The Solution Presented by Karatbars International
It makes it easy and convenient to buy gold in a format one wishes. It can be stored digitally, for, free or delivered physically. This gold can then be used to pay for goods and services. This project gives the mass the option to save and pay in gold, extricating themselves from the fiat world of finance. For those who wish to convert their gold into fiat, doing so is easy via a local Karatbars K-Exchange and partner businesses.
To make things easier, the project released the Karatgold Coin, which is backed by gold bullion stored in a Hong Kong-based vault. The first 135kg of this gold was sent to the vault in September 2018, and there is video evidence to back up this claim.
When the ICO for the Karatgold Coin (KBC) was held, it was one of the most successful in the history of crypto; it raised over $100 million. The coin went live on exchanges and its value rose by almost three times compared to the ICO price. This project allows you to save and pay with physical gold, which is immune to inflation or use the KBC coin, which provides safety via the blockchain. It is being touted as the future of digital currencies. This revolutionary concept has even earned recognition from Forbes on its prominent blockchain list.