NEW YORK, Aug. 21, 2017 /PRNewswire/ -- In a world first, CryptoGLD has launched an entirely liquid, 100% gold-backed cryptocurrency.
GLD International, trading as CryptoGLD, identified weaknesses in cryptocurrencies with most relying solely on market value perception, without any asset value. To combat this, CryptoGLD and Citigold Corporation Limited, based in the US and Australia respectively, created the world's first 100% gold-backed cryptocurrency.
Based on the Purchase and Security agreements with Citigold, ten million CrGLD coins backed by 100,000 ounces of gold provides investors with the best of both worlds, the possible exponential returns of cryptocurrencies, combined with the age-old value and security of gold.
To ensure owners can maximise the cryptocurrency benefits of CrGLD coins, CryptoGLD has set the gold redemption date as June 2022. This means no matter what happens to the CrGLD price, once CrGLDs are redeemable, owners can choose between the best of two options. If CrGLD, like Ether, increases with thousands of percent, the option exists of selling them on an exchange. Should gold outperform CrGLD, then the best option may be to cash them in for the gold spot price of the day, or collect the gold. Based on this, we believe CrGLD is one of the best and safest investments available on the market.
Its creators believe that CrGLD's asset backing will result in a more stable price, eliminating the extreme volatility associated with cryptocurrencies, while providing investors with the "price security" of gold.
"Total transparency is a must." Says Vice President Gregory Breytenbach. "Some promising coins turn out to be nothing more than empty shells, with no value proposition or liquidity. To ensure our clients are well informed, we're posting our Gold purchase, Security Agreements and audit reports in our wallet." Says Mr. Breytenbach.
"This is a truly innovative and exciting way of purchasing gold." Says Mr Mark Lynch, CEO of Citigold. "It enables anyone to securely trade in gold, adding to the value proposition of cryptocurrencies". To see Citigold's public announcement, visit www.citigold.com
CryptoGLD's initial coin offering provides investors with the opportunity to purchase CrGLDs at cost, the spot price of gold, but with the added benefit of 5 free coins for every 100 coins purchased. The company's release of it's wallet allows people to buy CryptoGLD coins now and transfer funds privately between wallets using blockchain technology. And so they felt the need to reward early adopters, valid until the coins are available to trade on the open exchange in the 4th quarter of 2017.
"We want to give investors the opportunity purchase before we list on an exchange", said Mr Breytenbach, "which could see the value increase significantly. To reward early adopters CryptoGLD is also offering 5 free coins for every 100 coins purchased. We are also very excited to announce that we are developing a new merchant payment gateway planned for release in early 2018".
With CryptoGLD's exceptional innovations in the cryptocurrency sector, the benefits that come twofold, both from a gold investment perspective and a cryptocurrency investment perspective, they seem to be the best investment solution available.
For more information visit: https://cryptogld.com
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