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Bullioncoin's Advantages & Benefits Over Other Cryptocurrencies

Important Notice on BullionCoin following its launch on 15 August:

BullionCoin and the Allocated Bullion Exchange have been collaborating closely with each other until it's launch in order to deliver a gold & silver backed digital currency.

However, a few minutes after BullionCoin's website went live, the ABX issued a statement announcing it was withdrawing from its collaboration with BullionCoin citing several reasons.

You can read ABX's full statement here. You can read BullionCoin's reply to ABX's statement here.

Whilst this unfolds, I am going to treat the information as objectively as I can, and so should you.

I strongly suspect it may well turn out to be a storm in a tea cup and not actually be anywhere near as drastic as it sounds, and BullionCoin could well become the digital currency we all want it to be.

Things like this often happen in business and it should not reflect poorly on either party as they both have a great product.

I have spoken to Thomas Koenye, the co-founder of BullionCoin, and it looks like ABX's statement may have been unfairly issued and there are some areas that need clarification which I have added as a pre-face to ABX's statement. Thomas' reply is here.

However, as my primary and overriding concern is the safety and security of client and potential client money and their vaulted precious metals, I will always take the options and decisions that will not expose you to any risks. I will update you as soon as I have completed my due diligence on this matter.

If you have any questions about this then please do contact me and I'll be happy to help. You can also contact BullionCoin and ABX for further clarification from them.

Yours faithfully,

David Gibson, Managing Director

BullionCoin's advantages and benefits are incredible, with none of the disadvantages that affect and afflict the other cryptocurrencies that exist today.

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Cryptocurrencies have now been around for several years. During that short time there have been over 900 blockchain based digital currencies created. Each one has tried to apply slightly different solutions; some with success, others have disappeared back into the ether.

This massive technological software experimentation has allowed BullionCoin to be a sum of the best parts with all the problems avoided. BullionCoin is the birth of the merger and combination of physical gold & silver bullion, which has been used as money over 5000 years & spanning multiple civilisations, and the latest advances from our current civilisations' technology.

Digital currencies now surpass USD$100 billion in market capitalisation and are doubling in size almost every 3 months. Coupled with a full revolt and revolution in the banking & monetary system which has gained traction and built momentum, the full depth and breadth of the global financial institutional market is now ready for all of BullionCoin's advantages and benefits.

Advantages & benefits of BullionCoin

Consider joining BCX as one of the founding investors to generate the initial BullionCoin liquidity to get a higher yield rate to that offered to standard investors thereafter.

Bridging of Two Worlds

Whilst digital currencies have helped facilitate a more efficient medium of exchange they are currently almost unusable by many organisations due to their extreme volatility.

A physically precious metals backed digital currency has the best of both worlds combined into a single unit. The BullionCoin advantages & disadvantages include:

  • Long-term store of value
  • Stable pricing (potential physical gold & silver price revaluation notwithstanding)
  • Extreme exchangeability and transferability for users
  • Usability during bank holidays

However, it still retains the disadvantage of being reliant upon the internet & technology not being disrupted, but then the current banking & financial system will be similarly disrupted in such events.

The heightened exchangeability and fluidity of transferring gold & silver bullion around the world digitally enables the seamless transfer of title and ownership of [real] money.

Effectively the BullionCoin cryptocurrency becomes an electronic Bearer's Title on an existing precious metals holding.

Accessibility to Physical Bullion

As transactions are performed on Peer to Peer network, it is not reliant upon any banks or markets being open. Users can make transactions 24 hours a day, 7 days a week.

Access to the BullionCoin's Primary & Secondary markets will be available through:

  • Mobile Apps for Apple & Android phones
  • Desktop & laptop based web browsers

Because it's seamlessly integrated with Allocated Bullion Exchange's MetalDesk platform, all purchases will be placed directly on ABX's global markets with no 3rd party being involved in the process. Furthermore BullionCoin's BCX platform design, look and feel is virtually identical to the MetalDesk platform.

Problems with the Current Gold Market Setup

BullionCoin's advantages & benefits had to address and solve the problems with the current setup of the gold market, which is twofold:

1. When banks open & working normally

When banks are working normally, money happily transfers between investor accounts (albeit with a significant delay) and banks allow gold & silver to be freely bought & sold (with an outrageous premium added).

However, when it comes to selling your precious metals, you normally have it first converted into US Dollars before you can use the stored wealth the bullion holds and represents.

The whole purpose of buying gold & silver was stay out of fiat like the USD, so being forced to convert it into fiat is obviously not an ideal option.

The only other avenue available to you is to physically withdraw or collect your metal from the vault. But as you wanted to use its value for something (hence the sale) that then leaves you with the problem of then having to enter into a bartering situation, which again is not ideal.

2. During Bank holiday & shutdowns

In this scenario all fiat currency transactions have stopped – the system will freeze just like it did in 2008. There will be no or limited cash movement between accounts and little to no liquidity between banks.

This also means you are not able to buy or sell physical precious metals because all movement of electronic fiat is not possible.

No doubt, to a man, you've all just collectively screamed "Seriously?!!...Why would anyone want to sell their PM's during a bank holiday?!!!"

Time to understand why and how another one of BullionCoin's advantages & benefits help to provide a serious solution to a serious situation.

BullionCoins Advantages & Benefits During a Major Financial Meltdown

Now what are you going to do if it's the mother of all shutdowns that we're expecting to happen one day? As in locked for weeks or months?

What if a reset of the system is required that could take a year+ because of all the political haggling?

Yes, the price of gold & silver will sky rocket to obscene values during that time, but at some point you will, or should, recognise that the proverbial blood is flowing in the street and that the value of other 'real' assets are dirt dirt cheap!

The name of the game is always buy low sell high and to avoid emotion clinging of assets and be objective about the state of what's out there value wise.

It's during those times that you will want to transfer some of that fantastically high value you now have stored in your bullion, into a highly undervalued asset class. 

That could include agricultural land, timber or an extremely undervalued and very profitable company that will be a virtually free cash machine for you when the system re-starts. You won't need to move much, just make sure you keep your eyes open for amazing opportunities in times of an international financial crisis.

This is where the advantages and benefits of BullionCoin really start to shine.

BullionCoin's Liquidity

With money no longer moving, you will need to use a process that bypasses the banking system and that still acts as a currency for you to be able to continue to perform financial transactions.

Herein lies the critical function of BullionCoin and its ability to transfer title of your bullion to someone as a method of buying or selling other assets, or to simply pay for your shopping when the movement of fiat (USD, GBP, EUR etc.) has suspended.

BullionCoin is a digital currency that bypasses the entire banking system and allows investors to continue to freely trade amongst themselves.

The Ability to Create BullionCoins Without Cash

If the banks and markets have seized up and you don't have any more currency - what options are open to you?

For those prudent enough to already hold physical precious metals outside the banking system, you can transfer your existing bullion holdings directly into the BCX. Once added to the system you can then create BullionCoins with them and carry on with your normal everyday currency transactions.

Even 'stackers' should consider this as you can then avoid bartering or using whole coin units for goods - doing that will not be cost effective. By raising digital currency against a portion of your holding, you will then only spend just what you need to get by.

BullionCoin's Advantage & Benefit of Price Stability

Other cryptocurrencies are unfortunately suffering from dangerous speculative investment. This speculation leads people to hold onto the currency, like Bitcoin, in the hope that its price will increase so they can sell on for a profit.

This current holding / hoarding of digital currencies has created a speculative bubble in the marketplace, based on the theory of "The Greater Fool".

Digital currencies like Bitcoin are therefore not being used normally as a tool for aiding and facilitating transactions, in the way traditional currencies are.

Money's primary use is its store of wealth (like gold & silver). A currency's primary use is for transactions. Other cryptocurrencies currently don't perform either function which is one of the factors that separates BullionCoin from other cryptocurrencies.

One of BullionCoin's advantages & benefits is that its technology has allowed it to circumvent and defy Gresham's Law, which prevents the hoarding of money.

This speculative hoarding of cryptocurrencies is the root cause of the flash crashes and extreme price volatility they are being subjected to. There is no liquidity or inherent velocity in them to absorb even modest sales, hence the repeated crashes.

For any cryptocurrency to be adopted and used, it is critical that it is both a safe and stable digital asset.

Countering Banking Inefficiency

We have all recognised that today's national & international banking system are no longer efficient, even in carrying out basic tasks.

The banking and financial sector has fallen considerably behind virtually every other markets in applying the best and latest technological solutions & ideas in maintaining operational efficiency and customer satisfaction.

The advantages & benefits of BullionCoin's digital currency solution is that it's not exposed to or affected by current banking problems such as:

  • Slow interbank transfer times
  • High transfer & currency conversion fees
  • Payments getting lost or delayed
  • International sanctions against countries and individuals
  • Accounts getting frozen
  • Excessively bureaucratic compliance and record keeping requirements
  • Reporting requirements like FACTA
  • Erosion of personal financial privacy

The ever growing list of problems and requirements is choking the banking system to the point where many are expecting failure and possibly a reset.

These problems have been present for many years and it's now grown to the point where there is now an on-going revolt against the traditional banking system.

People and users are now actively looking for an alternative banking solution that matches the expectations that today's technology can bring. A full revolt and revolution in the banking and monetary system has gained traction and is building momentum.

Technological solutions that blockchain helps creates the following revolutionary BullionCoin advantages & benefits:

  • Near instantaneous processing times for financial transactions of about 4 seconds
  • Very low transaction fees and costs
  • Unimpeded cross-border payments
  • Trustless asset transactions that don't require centralised authorisation
  • Assets with no counterparty risk or leverage, meaning it's not a financial instrument and so do not need burdensome regulatory oversight
  • It can't be manipulated by banks, investors or governments
  • Immunity from bank holidays and financial crises
  • Price stability through maintaining a high velocity of capital turnover, generating a safe asset to use
  • No restrictions on how you can use your money or how much you're allowed to access

Couple the above transactional efficiency of a digital currency with the incontestable historic quality of gold & silver, being its store of value, and you have a very special currency that will revolutionise the global monetary system.

Open Your Wallet

For investors wishing to access and use BullionCoin, open your account / wallet here. If you have any questions then please do contact us.

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Have your say about what you just read! Leave me a comment in the box below.

Please Note: All comments are moderated and manually reviewed for spam. In turn, your comment may take up to 24 hours to be posted. also reserves the right to edit comments for grammar and spelling errors.

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