Gold Backed Crypto

[The_David]

Any know anything about these Gold Backed Crypto's? Apparently Financial Advisors are going crazy about this stuff even mine asked me to get in on it.
I'm super skeptical about it though. Seems like another snake oil/BitConnect thing to me.
Anyone hodling some got more info?

http://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/

 

[marco79]

You are right to be skeptical.

I haven't heard of any of those coins or tokens.

Use this list

https://coinmarketcap.com/all/views/all/

 

[IOPS]

Seems weird, wouldn't a more logical use for this be to just trade gold via ETFs?

 

[mr_norris]

Seems weird, wouldn't a more logical use for this be to just trade gold via ETFs?

I was wondering the same thing. I found this article. Seems like the benefits when it comes to crypto is the promise of growth when FOMO hits and the coin shoots up in value, and more accessible to those who can't invest in gold / gold ETF's directly.

I'm not sure if I'm convinced though. Would rather stick to physical gold / ETF's myself.

 

[backstreetboy]

https://coinmarketcap.com/currencies/karatgold-coin/

 

[phly]

Any know anything about these Gold Backed Crypto's? Apparently Financial Advisors are going crazy about this stuff even mine asked me to get in on it.
I'm super skeptical about it though. Seems like another snake oil/BitConnect thing to me.
Anyone hodling some got more info?

http://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/

I would advice you stay away from such as all they will be is scam coins.

 

[BitcoinZAR]

https://coinmarketcap.com/currencies/karatgold-coin/

Just no.

 

[backstreetboy]

Just no.

Thanks for the valuable input. Much appreciated.