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
Dominic Lopez
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"
Jonathan Phillips
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."
Noah Wood
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
Noah Mitchell
Thanks for your hard work
Angel Sullivan
Hi Pajeet!
Jason Sanders
>We'll hold your gold for you :^) What's the point of "owning" gold if somebody else holds it?
Ayden Nguyen
What's the point of owning dollars when someone else holds it for you? Seems like a good idea but I doubt Vaultoro is actually trustworthy.
Cooper Myers
Wait a sec, gold increased 2.7% in a day? Are precious metals supposed to be so volatile?
Mason Fisher
>You wake up one morning, and the worst has happened. Tether is no more. The entire crypto market is down 25% and falling. false premise. tether to zero doesn't mean fuck all.
Owen Smith
markets crashing at the same time user. bond yields are going back up and will be break even with inflation. meanwhile the stockmarket is going to suffer from inflation plus 2% decline per year annualized, at minimum.
the great rotation is happening. golds a good place to hide if there`s a big dip in the everything bubble.
Jaxon James
Yeah I got about $100k and idk what to do. Guess I'll just hold
So this is just like tether but with gold? Sounds awesome!
Camden Robinson
What's the point of "owning" bitcoin if you can't even hold it?
Dylan Johnson
All good points. If you don`t hold it, you don`t own it. I`m not saying put 100% of your gains into this platform. but please be aware of it, just in case the day comes when you need it. and if you`re looking for a safe way to hold your gains for years, this is just ONE good option.