$900 million in Gold Backs Karatgold Coin
The trouble with so many Initial Coin Offerings (ICOs) has been that they are based merely on an idea. When an ICO is still just an idea, than despite an innovative and technologically sound concept, it still remains the equivalent to a concept on a drawing board. For it to be successful, it must have backing. Its developers must have a way to bring the idea to fruition.
Most new ventures never get off the ground. Those that do face a monumental climb to profitability, from which most fall. Like speculating in penny stocks, when you buy ICOs that have no backing, the odds are against you.
Karatbars International has turned this ICO model on its head with the introduction of Karatgold Coin. Rather than releasing an ICO backed by just an idea, it has released an ICO backed by solid gold. Karatgold Coin is the first cryptocurrency to have its value tied to the price of gold. Each Karatgold Coin can be exchanged at anytime for gold, just like the money of the old days, before the gold standard disappeared and fiat currencies took hold.
Karatgold Coin’s value rests on gold because its creators have designed it as a crypto payment system, rather than as a speculative investment. To work as a payment system, the coin must have stability and liquidity. People must trust that the value won’t suddenly change, which could cause them to lose significant value from their sales or purchases. Gold gives Karatgold Coin this stability. Because gold is traded around the world, it also gives the coin liquidity.
The developers have created the Karatgold Cooperation to provide the gold that backs Karatgold Coin. The Karatgold Cooperation is a joint-venture partnership that allowed Karatbars International to acquire $900 million of gold. This gold has been certified by the company’s auditors as the backing for Karatgold Coin, providing investors with the gold they depend on to secure the coin’s value.
The Karatgold ICO took place in March of 2018, to great success. Since then, Karatbars has entered into a partnership with three of the top Asian gold trading firms. The firms will use Karatgold Coin to trade millions of gold transactions per day. This will provide extra liquidity to Karatgold, allowing for it to gain wider acceptance faster. Many of Karatbars International’s 480,000 CashGold customers also have began to use Karatgold Coin since the ICO. Karatbars International CEO Harald Seiz recently announced that Karatbars had acquired a bank in Miami. The fully-licensed bank will open as one of the world’s first cryptocurrency banks in June.
Karatgold Coin is off to a racing start. As it gains in popularity, it’s value will continue to rise. Investors looking for a ground-floor ICO opportunity with staying power will be well-served with Karatgold Coin, the only ICO backed by a $900 million goldmine.
Karatbars International was founded in 2011 by finance Entrepreneur Harald Seiz. Its mission is bringing investors security and freedom through wealth acquisition. In addition to Karatgold Coin, it provides many small-gram gold quantities to customers, which are designed to be easily exchangeable. Harald Seiz speaks at many international financial events and conferences and is the author of the investor education book The Future of Money.