You wake up one morning, and the worst has happened. Tether is no more. The entire crypto market is down 25% and falling. What do you do user?
You do have a SHTCF (shit hit the crypto fan) emergency plan, right user?
Your typical emergency cash out options include:
> BTC -> Tether (we all know this is a ticking time bomb) > BTC -> Cash by localbitcoins/atm/exchange bankwire to your bank account (This doesn't let you seamlessly get back into crypto like tether allows you. and now you have to pay taxes and hold the worst premined shitcoin in history, USD)
>BTC -> physical gold using APMEX/Silvergoldbull.com (Now you have to hide and worry about how to cash out physical gold)
BUT THERE IS A FOURTH WAY
It combines both the benefits of tether and gold, without any of the downsides.
Vaultoro allows you to purchase small amounts of gold (fractions of gram) with Bitcoin. You can then take physical possesion of that gold if you so wish, or convert back to Bitcoin at a future date.
EXACTLY LIKE TETHER
Only the main difference is that Vaultoro's gold AND Bitcoin reserves are audited every day, and posted online. They're entire inventory is assayed each year, with the report posted online.
Please consider saving a little bit of your exit money in this platform, for your own sake.
in reserves confirmed by Pro Aurum, who holds the gold in a swiss vault facility.
Gabriel Hill
can we convert to silver and other PMs, or just gold?
Luke Reyes
de.wikipedia.org/wiki/Pro_Aurum "In 2005, the Pro Aurum generated annual sales of 60 million euros. [28] With the financial and economic crisis from 2007 and the flight of many investors in precious metals, sales increased significantly. For example, in the months of April, May and June 2011, the Group sold around 2.3 tonnes of gold in the form of coins and bars. For the months of July to September of the same year, an increase in sales in this area was reported at 3.4 tonnes per month. [29] From January to November 2011, the company sold 17.2 tonnes of gold to banks and individuals. [7] At the end of 2011, the company put the peak silver trading daily sales at five tons, and the usual silver daily sales in the same year were half of that figure. [30]
At the end of 2011, the company reported a total sales of 680 million euros for the financial year 2010 and for the first time a turnover of one billion euros for the year 2011. [3] Per week up to 24 million euros were implemented in 2011"
Xavier Bennett
just gold. though you can buy a fraction of a gram down to 0.0001 grams. though to take possession of the gold you need to have accumulated 100 grams at least. otherwise you will need to convert back to bitcoin to withdraw.
Camden Gutierrez
to sign up, you do need to verify your identity like most other exchanges. you can then deposit bitcoin and start buying gold like any other exchange. they have an order book with buy and sell orders. if you're lucky you can sometimes grab the gold for below spot price.
It reads as follows: Helvetia Business Insurance, policy number 4.000.333.834
Dear Ladies and Gentlemen,
We confirm with this letter that in the vaults of Embraport, located at Lochackerstrasse 3 in CH-8423 Embrach-Embraport, precious metals are insured against the following hazards:
Fire and natural disaster (of first risk) Burglary and theft (full value)
The specified sums of insurance apply as of January 5, 2015.
The following deductibles apply:
Fire, burglary, and theft: no deductible Natural disasters: 10% of the compensation, minimally CHF 2,500, maximum CHF 50,000
This insurance policy is based on the general conditions for Helvetia Business Insurance, following the January 2007 issue and the written special conditions.
This last document in the link above is a letter from BDO, a neutral 3rd party, attesting to MORE then full gold reserves held by Pro Aurum vaults for Vaultoro users. It reads:
" Precious metal inventory of transshipment port in Embrach-Embraport
Dear Mr. Buchwalder, tl;dr: There are more precious metals in the inventory than customers own: Above full reserve.
As ordered, we have counted the inventory of precious metals in your transshipment port. Hereby we confirm by legal revision that as of December 23, 2016, the total of stored precious metals (gold, silver, platinum and palladium) in your transshipment port was greater than the total assets (purchased goods) of your customers, which you reported in the weight account and confirmed on December 23, 2016. We have adjusted the total inventory of the customer’s weight accounts with the total inventory of the signed inventory list from the transshipment port. We have concluded from the balance list that was provided to us that the stored inventory of precious metals is sufficient to meet all customer claims from storage contracts. tl;dr: BDO does not check quality. (Quality check is done by ProAurum, they only take bars directly from smelting companies)
The precious metals are not individually labeled and therefore, we have not confirmed that it is in fact the agreed upon product in the corresponding order quality. tl;dr: This paper is not intended for third parties, a liability disclaimer
This confirmation is only directed to the company and does not represent any promise or confirmation to third parties on the respective goods."
Jace Wilson
they've been around for ages, and don't have any shills because they are the swiss bank account for the bitcoin whales. they only have 1000 customers and aren't looking for more...that says something.
David White
Pretty useful looking
Jayden Morales
glad I could help.
In conclusion,
You can use Vaultoro as a fourth option for an ermegency cashout method to lock in your gains, or just to take some profit off the table. The benifits of this service allow you to buy a real hard asset that will stand against the dollar and the test of time. Its better than tether. You can take physical delivery of the gold if you want. you can sell the gold for bitcoin at any time and withdraw that bitcoin at anytime (no limit). taxes are dependent upon your jurisdiction. If you found this information helpful, then please consider signing up using my reflink, you get some gold for doing so.
vaultoro.com/?a=107662
Oliver Perry
one last bump
Eli Foster
bump
Juan Perez
>and now you have to pay taxes
You have to pay taxes whenever you exchange assets, OP. Tether is not a magical tax-haven dollar substitute. Neither is gold. Read IRS Notice 2014–21, Section 4.
Cameron Phillips
do they support other currencies besides btc? btc's too slow and expensive to be moving around all the time.
Gavin Smith
at the moment they only support BTC
Aaron Turner
Unfortunate.
Henry Anderson
not exactly sure how american law applies to a swiss company, but why would they tell the IRS about your gold in their vaults?
they'd need a specific name of the customer before they give out any info, and by that point the IRS already knows about your account
any info about this on their site? swiss data protection is taken extremely serious especially in banking related matters
To anyone that buys this, it is probably going to be treated like a foreign account that has draconian reporting requirements every year. Google FBAR and IRS form 8938. Screw those forms up and you are in for a world of pain from not just IRS but FINCEN too. You have to file them even if you do not have a taxable event.
Jace Roberts
>Vaultoro's gold AND Bitcoin reserves are audited
by whom? tether was audited by a top 10 auditing firm
As an American it would be your obligation to tell the IRS about the gold you purchased with your crypto, and the amount of gain you recognized on a dollar-basis when you sold your crypto for said gold. You could, of course, not report it, but when you eventually sell that gold into other assets and eventually cash out you run the risk of getting audited and caught in your tax evasion scheme, then doing time in federal pound-you-in-the-ass prison or facing large fines.
Logan Peterson
put it in ETH retard
Jonathan Taylor
Just convert everything in BTC, send it over to bitmex and 1x short. 1x short means basically that you'll keep your fiat value the same as it was before without being a taxable event. You can obviously short with more leverage if SHTF.
Zachary Long
good tip, never realized this was an option
Ian Williams
Trying this coin for the first time can someone send something to check transaction time. Reply when you send, I will send amount back.
I'd just like to interject for a moment. What you’re referring to as Bitcoin, is in fact, the Bitcoin Core fork, or as I’ve recently taken to calling it, Bitcoin Limited. Bitcoin Limited is not a functioning cryptocurrency unto itself, but rather one component of a fully functioning peer-to-peer electronic cash system made useful by the Bitcoin blockchain, hashing algorithm and distributed network comprising a full peer-to-peer electronic cash sytem as defined by Satoshi Nakamoto. Many users run a modified version of Bitcoin Unlimited every day, without realizing it. Through a peculiar turn of events, Bitcoin Limited which is widely used today is often called Bitcoin, and many of its users are not aware that it is actually a fork of Bitcoin Unlimited, developed by Satoshi Nakamoto. There really is a Bitcoin, and people are using it, but some have begun referring to Bitcoin as Bitcoin Cash. Bitcoin Limited is a node implementation: a client that verifies and relays transactions across the network. a node is an essential part of a peer-to-peer electronic cash system, but useless by itself; it can only function in the context of a distributed network. Bitcoin Limited is used in combination with the Bitcoin Blockchain: the whole system is basically Bitcoin Unlimited with a smaller block size. All the so-called “Bitcoin” implementations are really forks of Bitcoin Unlimited.
