As more and more of our communication and commerce is done online, some industries are scrambling to catch up. Online precious metals dealers face unique challenges. GSB Gold Standard Group is a company that creates technology that's meant to change the game for online gold dealership.
But what exactly are their products and services? Are they a legitimate company? And who should consider working with them?
About GSB Gold Standard Group
The company has been operating out of Germany since 2011, garnering an impressive decade of experience in the technology sector. Their focus is on programming online trading platforms. But they focus specifically on precious metals and other niche aspects of the financial sector.
This makes the company incredibly unique and focused in their pursuits. They also have their own precious metals exchange network. Individuals are welcome to trade through this service, which covers over 100 countries throughout the globe.
Since launching their network and programming services, the company has since branched out into other offerings. For example, they offer a special digital card that people can use to store their digital assets. They also focus on blockchain technology, with an international blockchain platform that has been integrated by businesses around the globe.
In keeping with their goal of making precious metals more accessible, they have a digital bank that is held to the gold standard. This means that the value of the assets in the bank never exceeds the value of the actual physical gold in the company's vaults. They also use a universal gold merchant for easy trading and liquidation of precious metals.
All of their services and platforms are built to bring alternative physical and digital assets together. They are one of the most creative companies when it comes to strengthening cryptocurrency and precious metals by combining strategies.
In addition to connecting precious metals investors to traders, their software innovation center has been used to manage blockchain technology since 2014.
Products and Services
The products and services offered by GSB are unique. You're unlikely to find exactly the same offerings from any other precious metals dealer or software tech company.
Their offerings are divided into two categories: blockchain and fintech. Their blockchain technology is typically related to cryptocurrency like Bitcoin, while their fintech offerings are meant to bring finance professionals into the modern era.
The lifestyle card is one of the flashiest products offered by the company. It was revealed in February of 2021, when the CEO announced that they would be offering the first credit card made of solid gold. If you want a credit card that's incredibly valuable by itself, this might interest you.
Instead of functioning like a traditional credit card, this card helps people to access their cryptocurrency wallets. That way, they can use crypto to pay for purchases at brick-and-mortar retailers. The integrated blockchain technology will automatically convert your cryptocurrency to the fiat currency of choice.
You can use the card in nearly any country throughout the world. In addition, the company claims that they give better cryptocurrency exchange rates than national banks usually do.
The card functions by pulling from an attached account, which has information about your cryptocurrency and fiat holdings. If you want to add more funds to the account, you can simply transfer them from your bank. It's super simple and has the protection of GSB's technology.
You can also participate in this card program even if you can't afford a solid gold credit card. Other options include gold plating, plastic, stainless steel, and aluminum cards. There's one to suit everyone's unique needs.
People who hold these cards can get 24/7 customer support no matter where they are in the world.
The G999 coin is a cryptocurrency that was launched by the company. It was supposed to be a digital currency that had a high capacity for cash use. Part of the allure was that the company had digital wallet technology that allowed people to exchange their crypto quickly for fiat currency.
Unfortunately, the coin reached its highest peak value immediately after launching. When it failed to take off, it crashed to a fraction of its original investment value. You're probably better off using GSB's crypto wallet technology with more well-established cryptocurrencies instead of their coin.
When you invest in G999 currency, you do get access to encrypted email, chat, and voice conversations. These help to keep your information private from third parties.
Universal Gold Merchant
The Universal Gold Merchant is a type of technology that allows for easy conversion between fiat currency and cryptocurrency. After you cash in your cryptocurrency tokens, you can also use the merchant to send your fiat currency to your bank account. Some cryptocurrency investors use this method when they're ready to cash out.
The Blockchain Academy aspect of the company is relatively unique. Like many companies that prioritize precious metals and alternative assets, they want their customers to be educated. The blockchain classes will teach you about different types of cryptocurrency, how cryptocurrency functions, and what you should know about investing.
These courses do require payment to access, so they aren't the same as the free educational resources on some competitors' websites. Each of the lessons is video-based and will be streamed on a daily basis with a new topic.
Following the completion of the course, the company gives you a blockchain certificate. Thanks to the simple setup, it's easy to follow even if you don't know much about technology at all.
You can choose to subscribe for 3, 6, or 12 months. No matter which subscription package you choose, you will receive daily video streams with information about crypto.
It is pretty difficult to find third party reviews of these courses, so we can't say how valuable the information in them is. But the company is undeniably knowledgeable about cryptocurrency and blockchain technology.
Is GSB Gold Standard Group a Scam?
GSB Gold Standard Group is not a scam. This is an international company that provides niche services that you might not have even known you wanted. They seem to be reliable in their service, and they are behind many different precious metals trading platforms. The founder Josip Heit is a well-established and respected finance professional.
Ultimately, this is a company that focuses on software. They're not the best place to go if you're looking to purchase precious metals themselves. But if you're looking to access or build a trading market for precious metals, you can benefit from their customizable programs.
The company is known for having solid IT professionals and software developers who can identify the latest technological needs. One big struggle for precious metals dealers is the need to establish an online presence. That goes especially for dealers who have been in the business since long before eCommerce was a normalized "thing."
Whether you're looking for software that pertains to cryptocurrency or to precious metals, GSB Gold Standard Group has all of the possible platforms you could want.
There are a few things that you should keep in mind, though.
First, it's difficult to find reliable customer reviews of the company's services. Because the company is based in Germany rather than the US, it doesn't have an accreditation or rating from US-based organizations like the Better Business Bureau and Business Consumer Alliance.
In addition, the company's cryptocurrency launch drew heavy criticism. They launched a coin that was supposed to have huge potential for investors because of the market research and technology behind it. But it peaked immediately after launch and then tanked to a fraction of its original value, causing the original investors to lose a lot of money.
Pros & Cons of GSB Gold Standard Group
GSB Gold Standard Group is a company that operates in the precious metals industry. But instead of functioning as a simple dealer or refiner, it fills a different niche. Their specialty is in creating precious metals trading software for individuals, small businesses, and corporations.
If you're looking for customizable precious metals software, this is a good place to start. But if you want to purchase precious metals from a dealer, you should look elsewhere. In addition, they don't have any sort of gold IRA services because they're a European-based company.
There are plenty of other companies that deal precious metals and have excellent customer feedback. It's best to work with one of these if you're looking to purchase gold or set up a self-directed IRA.