GSB Gold Standard Group is a financial tech company that operates in a unique niche. They create software platforms that allow people to list and trade precious metals. Their chief focus is on precious metals software, which is all crafted using blockchain-backed setups.
But what should you know about GSB Gold Standard Group before you get started? Are their offers actually legitimate, and who is their target audience?
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About GSB Gold Standard Group
GSB Gold Standard Group has been operating out of Germany since 2011. Since the company is based in Europe, you won't find evaluations through organizations like the Better Business Bureau or the Business Consumer Alliance. Even so, it's surprisingly difficult to find reviews from past customers on other parts of the web.
The company creates blockchain-based trading platforms for precious metals and other clients in the financial industry. All of their software is customizable, with businesses able to tailor it to their specific needs. They can also reach a network of more than 100 countries worldwide.
At the beginning of its inception, GSB worked as a precious metals trader. It was in 2014 that the company made the transition into a software center, right when blockchain technology was becoming popular. They beat a lot of the hype and firmly entrenched themselves as blockchain experts before many people had even heard of Bitcoin.
The software solutions that the company makes are based in more than just basic trading platforms. More than 40 experts have come together to create the networking tools that are available. They combine their past expertise in precious metals with their current knowledge of the blockchain environment.
GSB states that one big part of their mission is to be more transparent than any other company using blockchain technology. They want to help everyone in the world access the precious metals market through their innovative solutions. They also say that they wanted to create one platform that could connect every precious metals trader, from the individual consumer to the huge shop owner.
People who use GSB's software can manage every part of the precious metals trading process. They can keep track of where their gold is stored, how much it's worth, how much it is being sold for, and how much their holdings have grown over time.
By using blockchain technology, the company has made their software faster and easier to use. They work for a variety of people in the financial sector all over the globe. The company's team is consistently working to update their solutions and provide additional security in the case of any potential cyber threats.
The company's basic trade network is linked to more than one hundred global countries. They also have some other services, like a credit card that links to your digital wallet so you can pay at regular retail registers using cryptocurrency. There's a gold standard bank and a universal gold merchant to help traders stabilize their holdings.
Many precious metals dealers today do use their platform, especially in Europe.
Available Products and Services
The company has quite a few products and services available to customers. The right one for you will vary depending on your needs and budget. They have served people and institutions in all corners of the financial sector.
When you look at the available services, you can sort by their blockchain offerings or their financial tech offerings.
The company's lifestyle card is a relatively unique offering. The card itself can count as an investment, since it is made of solid gold. If you don't want a solid gold credit card, you can also get lifestyle cards in a variety of other materials. These cards have the same technological benefits as the solid gold option.
The card allows you to draw from your digital wallet. It instantly converts cryptocurrency into whatever currency you're paying with. That means that you can use Bitcoin and other crypto types to pay for your goods, even if the store in question doesn't technically take cryptocurrency.
This card also lets you switch between several different types of fiat currency. It's especially appealing to European travelers who often end up shopping in countries with different currencies from their own.
According to the company, you get better exchange rates on your currency than you'll find at the average street bank. You don't need to worry about quotes or hidden fees.
The card can be delivered to people in more than a hundred countries. All you need to do to fund the account is transfer holdings from your bank or link the card to your cryptocurrency wallet. For those who travel often, the 24/7 concierge services will appeal. These services will help you orient yourself even in the most unfamiliar of places.
The G999 coin was the company's attempt at making its own cryptocurrency. This was supposed to be more versatile, since it integrated with all of the existing blockchain technology. But the coin crashed and burned soon after being released. It peaked in value upon release and then lost its value until it became essentially worthless.
There doesn't seem to be much chance that the coin will increase in value anytime soon. You're probably better off investing with better established cryptocurrencies if you want to use GSB Gold Standard Group's digital wallet solutions.
The G999 wallet might be more useful. This digital wallet allows you to hold your cryptocurrency. It is outfitted with multiple security measures that encrypt your data. You can access highly secure voice, chat, and email if you want to keep your communications private from potential hackers.
But again, the company's coin itself is basically worthless. You're better off using the digital wallet with a different type of cryptocurrency.
Universal Gold Merchant
The universal gold merchant is a special aspect of GSB Gold Standard Group. It lets people convert their alternative assets into fiat currency. You simply obtain tokens based on your cryptocurrency or other alternative holdings, and then you turn those tokens in for the fiat currency of your choice.
Once you've done that, you can transfer the funds to your bank account. You have the choice of several different fiat currencies like yen, euros, and American dollars.
Blockchain Academy is one of the company's most robust educational resources, but it isn't available for free. When you subscribe, you'll get access to video content explaining different aspects of precious metals trading, financial tech, and cryptocurrency.
Each daily video covers a different topic. You can choose to subscribe for three, six, or twelve months. At the end of each course, you'll be given a blockchain certificate, which indicates that you have a high level of knowledge about blockchain technology.
All of the courses are designed to be as simple as possible. You also don't need to worry about being assigned a lot of homework. It's a low pressure way to learn about how the blockchain and precious metals both affect your potential financial future.
Is GSB Gold Standard Group a Scam?
GSB Gold Standard Group is not a scam. The company's services provide clients with an easy way to price and trade their precious metals. Some of the company's clients include banks, asset managers, brokerages, trust managers, and other important financial players.
The CEO of the company has a strong reputation in the financial sector. In addition, some publications have written about the company's offerings and experiences with them.
But with that said, there's no guarantee that this is the best company to work with. They do not have reviews from organizations like the Business Consumer Alliance and Better Business Bureau. It's also difficult to find individual reviews from past clients on third party review sites.
While testimonials can be found on the company website itself, it's difficult to trust these to be impartial.
Pros & Cons of GSB Gold Standard Group
GSB Gold Standard Group is a unique player in the precious metals industry. Rather than selling metals of their own, the company offers software solutions to precious metals traders. Their platform can be used to easily list, price, and sell precious metals all over the world.
The platform will likely appeal to anyone who's been looking for a modern way of trading precious metals. It incorporates blockchain technology to allow for the most secure transactions.
But there are a few things that give us pause. Despite having a robust number of services available, it's very hard to find reviews of the company online. There haven't been evaluations with organizations like the BCA and BBB. In addition, customers haven't left third party reviews on other websites.
This makes it difficult to determine the quality of what you'll be getting. It also makes it difficult to gauge how large the company is or how much business it has already done.
In addition, this isn't the best place to go if you want to invest in precious metals themselves. And their platforms don't do anything to help with setting up precious metals IRAs, either.
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