Suggested exchange:
You can also trade HGT on EtherDelta and COSS, but trading volume is much lower on these sites, so make sure to make a conscious decision of where to trade, if you intend to do so.
DESCRIPTION
Offers GOLDX: a token that is fixed to the price of gold. The
vision is to make it easy for people from emerging economies to
invest in gold via a simple-to-use app.
PROS
-Working product (GOLDX) was launched a few days ago.
-HelloGold has partnerships with lending companies, that offer cheap
loans to GOLDX holders based on their balance.
-HGT holders get a monthly profit share (10%), paid in GOLDX tokens.
-HGT holders can buy GOLDX tokens at a discount based on how long the
tokens have been held.
-GOLDX holdings are fully ensured.
-CEO, Robin Lee, is former CFO of the World Gold Council and
principal accounting officer with GLD.
-HelloGold is currently applying to get GOLDX listed on several
exchanges.
-GOLDX tokens could replace or compete with Tether (USDT) as a
temporary or permanent store of value on the blockchain.
-GOLDX token holders have the option to redeem tokens for actual,
physical investment grade gold.
-GOLDX can be stored in any Ethereum wallet.
-A comprehensive one-year test of the app has successfully been
completed in Malaysia.
-Product has been approved by religious leaders to ensure that
religious groups from emerging economies aren’t banned from it’s use.
-According to the official HelloGold Twitter, HGT will be added to a
Hong Kong-based exchange this week, and a Singapore-based one at the
end of January, one of which is regulated. This is highly likely to
increase the trading volume.
CONS
-There’s currently a flat transfer fee of 1082 HGT on transfers
between wallets. I’ve been in touch with the team, and I presented
them with this criticism. They replied that they can negotiate
transaction fees with exchanges, once they have a bigger market cap,
and that they intend to streamline the code, in order to make it more
gas efficient.
-The GOLDX rewards for HGT token holders do not continue
indefinitely.
-Further token sales are planned (no earlier than Q3 of 2018). I was
reassured by a team member, that the token price will be fixed to the
current market price, when/if that happens.
VALUATION
The real selling point of HGT may be that GOLDX could become an
alternative to USDT. Many investors use USDT in times of market
instability, but Tether has had some serious problems lately
including scam and fraud accusations. The fact that GOLDX is fully
insured, and backed by physical assets, could make it a lot more
attractive than USDT.
Huge profits are being made on crypto investments. GOLDX could –
at least for people in some regions – provide a viable alternative to
liquidizing crypto assets, thus helping people to avoid heavy
taxation. This is, admittedly, speculative.
Since GOLDX is fixed to the price of gold, it will be pointless
to invest in it and expect huge gains. HGT, however, offers a unique
opportunity for investors to get a slice of this potentially enormous
cake in terms of the monthly profit-share rewards.
There’s always the risk of the gold price crashing, although it
does have a 1000 year-old track record of not doing so. In fact, if
major, global fiat currencies crash, GOLDX is more likely to
appreciate in value.
The mere fact that something as intangible as crypto can be
exchanged for something as tangible as gold, makes HelloGold a very
interesting project. It would seem that investors are becoming aware
of its existence, but right now, it seems highly undervalued.
GOLDX could in time – in my opinion – reach or surpass the
market cap of Tether, which is currently ≈$1.65 billion. GOLDX and
HGT are not the same thing, however, but given the fact that HGT
holders get discounts on GOLDX purchases, it does seem likely that
the price will appreciate dramatically, at least until all rewards
have been paid, which could take years. Even if HGT depreciates in
value after an investment, it can be held for reward purposes and
sold at a later point in time, which mitigates some of inherent risk
associated with the investment.
All credit do to Asger Folmann thx for great info