KaratGold Coin (KBC)
"KBC endeavours to be a cryptocurrency backed by a physical commodity,
namely gold (Aurum / Au), yes, the beautiful yellow stuff."
The KBC Coin was issued by Karatbank GmbH in Germany who bought a gold mine in Madagascar with 900 million EURO of gold reserves. The company also bought shares in a mine in Brazil later on. The coin has passed the ICO stage and they have raised hundreds of millions of EURO.
KBC endeavours to be a cryptocurrency backed by a physical commodity, namely gold (Aurum / Au), yes, the beautiful yellow stuff.
The crypto was also developed alongside KCB. Both coins have merged into one coin after the hard-fork on their mainnet (which should have been 16 December 2019).
KBC is based on the Ethereum network and recently renewed their smart-contract address right after the Ethereum hard-fork at the end of 2019.
KBC will obtain their own blockchain network called the Mainnet and/or Karatnet. The coin is listed on multiple crypto-exchanges, but will be removed from some exchanges and be re-listed onto at least one partner exchange after the launch of the Mainnet Coin on 15 October 2020 (anticipated date).
The total supply is 12,000,000,000 KBC with around 4,597,796,392 KBC circulating the market.
Massive price changes occur with major events within the company:
KBC was the subject of a guarantee by the company CEO, Mr Harald Seiz. He guaranteed that every 100 KBC coins will be exchangeable to 1 gram of gold from 4 July 2019. See his post here: https://medium.com/@karatgold/100-kbc-1g-gold-on-independence-day-4th-of-july-2019-3654302a9c12
This 'promotion' ended on 14 December 2019. Thereafter, the company introduced other incentives and promotions in their ecosystem.
Check out their own cryptocurrency exchange at http://www.karatbit.com
Owners of 1,000,000 KBC can register for a masternode or a full node for 3,000,000 KBC, subject to availability for additional passive income. Check it out!
The company also offers many great gold products and packages at http://www.karatbars.com
In addition to the above, businesses can accept payment for goods and services by utilising their K-merchant app at https://k-merchant.com/
The K-merchant application offers security from the volatility of crypto markets by securing the value of payment at the time payment was made so that the vendor won't lose the value once the price of a cryptocurrency change after payment was made.
KBC coin prices vary between different exchanges, however prices are still subject to normal economic theories like supply and demand.
The coins are exchanged for cashgold, by generating QR codes for every 100 coins on the Karatbit exchange. The QR codes are redeemed at a Cashgold Exchange Machine (CEM) for physical gold in printed form on a bill. The CEM is built by the company and is safe and secure. Customers can also order CEM's from the company website to share in fees generated from the CEM. Bills differ between 0,1g; 0,25g; 0,5g and 1g. The bills are secured by more than 20 unique identification marks.
The first version of the CEM is discontinued and the company is working on replacement of the old CEM's with a newer version of the CEM's. So far, people from many countries (especially South Africa) were unable to exchange their QR codes for physical gold.
Although the company was faced by some legal challenges in multiple jurisdictions, they openly communicated with authorities. The company continues to grow and develop despite opposition from conventional financial institutions.
This page is not an official page of Karatbank GmbH or any of its affiliates. This page does not convey financial advice.
It is written for educational and informational purposes only. The rights of the author remains reserved, including the
author's right to publish information that falls within public knowledge.