I followed the earlier posts about this so i went to the site and asked a few questions. This is a buy and store enterprise , you buy PMs through them and place them in an account (vault) when your ready to trade you place them in a currency account where they issue a bullion token for every gram you put in there, where people can then buy and sell tokens . Its a bit like issuing digital certificates for your silver/gold (isnt that how the banks used to operate). The company has your gold, you have a certificate of ownership of that gold and control over how it is used
The only advantage i can see to using this method is that it makes it easier and with less costs to trading your gold for fiat and i presume it is more secure than a safe in your home.
I asked if the token was interchangeable with other cryptos, i was told that would be upto the exchanges to sort that
I asked if there was any facility to use your gold as maybe a loan for someone and was told that is upto programmers to provide that facility
In my opinion i will follow the old mantra of ' if you dont hold it you dont own it'
When a company comes up with a token that allows you to earn an income off your metals i'll be first in line, i'll watch how this develops , its a great idea using sound money as a backing for a crypto, im just not sure about this venture. Sorry but its just my opinion
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I agree if you don't hold it you don't own it, but this is like the silver certificate, you could go into a bank and trade the dollar bill for an ounce of silver. Wish I could do that now!!