GoldMint is a gold-based blockchain company that helps investors and traders hedge volatility risks and gain competitive commission on commodities sold through GoldMint to financial institutions, pawn-shops, other companies individuals.

GoldMint works on two types of tokens, GOLD and MNT. The GOLD cryptoasset is an investment instrument which is 100% backed by physical gold and/ or ETF. One GOLD token is the same as one ounce of gold on LBMA stock exchange. MNT — on the other hand — is GoldMint’s cryptocurrency, used to confirm your GOLD cryptoasset transactions. If you’re a GoldMint miner, your amount of MNTs also tell you how many assignments, or transaction blocks, you can accept.

How to trade GOLD for fiat or for cryptocurrency and get a P2P loan?

You can buy GOLD for fiat or cryptocurrency on GoldMint’s cryptoexchange where you created your wallet. You need to have a public key to gain access to the wallet.

If you want to trade GOLD for fiat or crypto currency, you have one of two options. First, you can seek a GoldMint-guaranteed buyback or, second, you can request a loan. For either option, the process is as follows:

You’re directed to a special app that helps you transfer your GOLD as collateral to a certain GoldMint account. GoldMint uses the current price of gold set on the LBMA Gold Price to fix the rate of your loan. GoldMint requires you to undergo its KYC process. You will also need to consent to GoldMint loan terms to receive the loan. At the same time, you’re given various options for repaying the loan amount as well as for how you choose to repay it. If you default on repayment, your GOLD cryptoassets are transferred to GoldMint.

How to trade GOLD for gold?

GoldMint also helps you convert gold into GOLD tokens and reconvert these GOLD tokens into gold to facilitate border crossings. Carrying gold from one country to another can be a hassle and often results in expense and aggravation. By converting your gold into GOLD, you not only avoid this hassle, but also retrieve 100% of the value of your gold at journey’s end.

With this process, too, you’ll need to go through GoldMint’s KYC procedure.

In both cases, the amount of GOLD you receive, depends on the following:

The confirmation of the transaction.

The authenticity and value of your gold after it has been weighed, evaluated and registered by a Custody Bot inspection.

Custody Bot is GoldMint’s decentralized storage unit, which is programmed to computationally identify and store gold jewelry, small ingots (up to 100 grams) and coins. In this way, it acts as a Dapp (i.e. decentralized application that is programmed to run flawlessly, rapidly and effectively without needing anyone to control it). This Custody Bott inspects the value of incoming gold using three cutting-edge technologies: spectral analysis, usual and hydrostatic weighing .

In Short

People who want to trade GOLD for fiat or cryptocurrency need to undergo GoldMint’s KYC procedure.

Resale of GOLD occurs on stock exchanges or as direct transaction between parties.

GOLD and MNT cryptoassets and cryptocurrencies can be stored long-term in a special and secure storage bot.

GOLD emission depends on how much GOLD is needed but never exceeds the total cost of gold in GoldMint’s reserves.

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