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GSB Gold Standard Group is a unique company that combines fintech, blockchain development, and precious metals into one platform. Rather than offering precious metals themselves, they have created a platform where anyone can buy and sell gold and silver.
But is this platform worth using? What exactly do you need to know about GSB before you get started?
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About GSB Gold Standard Group
GSB is a company that was formed in 2011 in Germany. Their main specialization is in trading minerals and precious metals on a global scale. They have created a platform that allows you to trade precious metals with people from over 100 different countries.
Since the exchange platform was first launched, GSB has also introduced a variety of additional products and services. Some of these have been more successful than others. They have pioneered a digital wallet that you can use to secure and use your cryptocurrency. But when they tried to launch their own cryptocurrency, it was a massive failure.
In addition to the precious metals exchange platform, there is a business blockchain platform that works for businesses around the globe. It helps small businesses to integrate blockchain technology into their future plans. Other services include a digital bank secured with the gold standard, and a universal gold merchant online.
The company's growth is based much more on technology than on selling precious metals themselves. They connect precious metals dealers with investors. They also allow you to deal in precious metals on a small individual scale, something that might be inaccessible to you otherwise.
GSB Gold Standard Group makes money by taking fees from the transactions on the platform. They use their software innovation center to upgrade mundane software and integrate it with the blockchain. They even upgraded to the blockchain in 2014, long before most other companies had even heard of Bitcoin.
Because they've been ahead of the game in terms of cryptocurrency, they are one of the most popular companies for electronic distribution of precious metals.
Products and Services
The company's products and services all revolve around the blockchain, fintech, or a combination of both. There are different services available depending on who you are. For example, larger businesses might make use of the business software, while smaller investors might just want the precious metals platform.
GS Lifestyle Card
GSB is the first company to create a credit card made out of solid gold. For high net worth investors who want to brag about their wealth, this card is a great way of flaunting your stuff. It's one of the most valuable credit cards on the entire planet.
This card isn't just good for flaunting your wealth, though. It also connects to your digital wallet. You can use it to automatically convert your cryptocurrency into fiat currency, allowing you to pay with crypto anywhere you go.
You can also switch between a variety of fiat currencies. It's easy to pay for items with US dollars, Japanese yen, Euros, or pounds. That makes it a great choice for people who often travel internationally and don't want to go through the constant hassle of exchanging their currency manually.
According to GSB, they give better currency exchange rates for crypto than the majority of banks. But there's not a lot of customer feedback on this product, so it's hard to say whether this is true.
You also get instant shopping rewards through the rewards program. If you connect the card to your bank account, you can transfer funds to the card with a simple click. Every cardholder is given 24/7 access to concierge services and global customer support.
You might be wondering how big the customer base for a solid gold credit card is. Most people aren't wealthy enough to purchase a credit card made of gold. And those who are might be worried about carrying that much wealth with them.
But all of the features of the GS card are also available in stainless steel, aluminum, gold plated, and plastic designs. You can still connect your digital wallet and exchange currency between different fiat currencies. So if you like the features of the card but don't have the budget for solid gold, there are still options available for you.
The G999 coin might be the company's biggest blunder, and it's currently a bit embarrassing. Because they correctly predicted the importance of cryptocurrency, they should have been able to successfully launch their own. But the launch of the G999 coin fell immediately flat.
In theory, this is a form of cryptocurrency that lets you transfer cash from person to person with a lot of transactions. It is specifically designed to be sent between digital wallets. It doesn't use any central banking or third parties to facilitate the transfers.
Since the coin is connected to the blockchain, there's a lower risk of cybercrime and a much higher level of security. The G999 coin is traded on multiple exchanges. However, it peaked immediately after launch and then immediately plummeted. Today, it's basically worthless.
That's a classic case of a company getting too ambitious with their cryptocurrency project. G999 should have been successful; it has all the transaction capacity and usefulness that's great for crypto. But it never caught on in the wider community, so there was never any demand for it. That in turn destroyed the potential for growth.
You can use a G999 wallet even without buying the cryptocurrency. These wallets are ideal because they have private chat, voice, and email. The asymmetric encryption of your user data would take forever to crack. Since hacking is such a massive concern in the cryptocurrency world, the security of this wallet is ideal.
Universal Gold Merchant
The universal gold merchant is a software program that will instantaneously convert your cryptocurrency into fiat currency. You can then use this currency for online shopping or shopping in person.
After you exchange your tokens using the merchant, you can transfer your fiat currency holdings to your bank. These services can also be used by any retailer around the world.
There's a lot of confusion and misinformation about cryptocurrency these days. At the same time, cryptocurrency is one of the most important new developments of today's economy. GSB Gold Standard Group has created Blockchain Academy, which are online courses that teach you everything imaginable about crypto.
Unlike some other educational resources, these courses are not free. Once you sign up and pay, you'll receive a daily video stream about different topics. When you get to the end of the course, you'll receive a certificate.
All of the courses are simply laid out to make it easy to comprehend. The course syllabus covers a wide range of topics regarding every aspect of cryptocurrency technology.
If you, like many people, have questions about cryptocurrency, then this course probably has the answers you seek.
Is GSB Gold Standard Group a Scam?
Research indicates that GSB Gold Standard Group isn't a scam. Rather than working with the traditional precious metals market, they are working to create a new market. Because they are creating products that haven't been seen before, they have been the subject of media attention.
Unfortunately, there have also been some major missteps by the company. For example, when they launched their own cryptocurrency, the coin was supposed to have huge potential for growth. But instead it peaked right after launch, and then it plummeted. The coins are functionally worthless now and don't seem likely to recover.
However, the technological aspect of GSB's work seems to be solid. They have a variety of IT experts and program developers on their team. Rather than creating another run of the mill trading platform, they have placed their sole focus on precious metals.
GSB's partners have a solid reputation in the industry. They help people with their financial transactions. The entire team at GSB has a lot of experience in the fintech, blockchain development, and precious metals industries. They're just combining all of those into one new product.
Pros & Cons of GSB Gold Standard Group
GSB Gold Standard Group has been part of the industry for over a decade. Their main goal is to help people trade their precious metals on a global platform. They have an exchange network that covers more than 100 countries, allowing you to find the most ideal price for precious metals.
The company has many services and technological advancements, but also potential pitfalls. Their cryptocurrency launch was a massive failure. It's also possible that you could find lower prices for precious metals by working with a basic honest dealer. On the exchange platform, you're competing against the platform's prices, not the actual spot prices in the regular markets.
Finally, GSB Gold Standard Group doesn't offer precious metals IRA services. Their goal is based more heavily around the buying and selling of metals. If you want to purchase precious metals using your retirement funds, you should get in contact with a precious metals IRA specialist. They can help streamline the setup process and paperwork for you.
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