Economic News

New cryptocurrency backed by gold will tokenize metals still underground awaiting excavation

On Nov, 21 it was announced that a another new cryptocurrency is being ICO’d which will be backed by physical gold.  However what makes Crypto Investor, Inc’s GoldCrypto.io AUX token unique is that it is being sold to back gold that is still underground awaiting excavation.

Crypto Investor, Inc. announces the launch of the GoldCrypto.io AuX Token Pre-ICO as the first cryptocurrency to be uniquely backed by the ongoing production of physical gold bullion to create an accretive gold reserve backing the AuX Tokens. This paves the way for the establishment of a better than “Gold Standard” cryptocurrency. 

The major advantage of the GoldCrypto.io approach is that physical gold is pre-purchased from production ready projects while it is still in the ground, at a steep discount to market price. This steep discount is in turn passed on to all participants in the Pre-ICO and ICO providing an extraordinary entry level opportunity that will not be repeated following the close of the Pre-ICO and ICO. 

The initial AuX Token gold backing is approximately US$1.70 per AuX Token. With the Pre-ICO or ICO discounts applied, AuX Tokens present the opportunity of securing a gold position (as the Tokens are gold backed) at up to around a 50% discount to the gold market. 

Finally, as 45% of delivered gold bullion is progressively reinvested in further gold pre-purchases, the gold deliveries incrementally and continuously increase the AuX gold-backed reserve. – Quebec Daily Examiner

Source: thedailyeconomist.com

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