Today @RoyalMintUK launched a gold backed token @RoyalMintGold RMG. Which is freely tradable for physical gold at their vaults.
Interesting stuff. I have not bothered to study bitcoin because it seems to be a scam but this might work.The coin has some very exciting properties:
- Your RMG token is a representation of the real gold that you own. The royal mint is a custodian only. That means if you own the token you own the gold.
You can have it delivered, or presumably collect it from their vaults and leave with the metal in your hand, bag or security truck, depending on how big your bank balance is.
It’s tradable and exchangeable with anyone else in the world who recognises gold as valuable. My guess is that’s everyone.
There are no holding fees. We’re waiting full details, but it seems you could hold this for your whole lifetime securely.
p.s. I searched but could not find a discussion here. If there is one, please provide link