AurumCoin (AU)

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AurumCoin is one of the first cryptocurrency coin or token that is sponsored by gold. The plan is for one Aurum Coin to be worth precisely one gram of gold.

Joke Name

AurumCoin = Gold Backing

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (AU)

Coin or Token

Circulating Supply (298 K)

Total Supply (300 K)

Market Cap Ranking

Review

AurumCoin is one of the first cryptocurrency coin or token that is sponsored by gold. The plan is for one AurumCoin to be worth precisely one gram of gold. The platform has met significant boundaries, as their original crowdsourcing effort was removed the Indiegogo site.

The platform wishes to use a hard gold standard, which disappeared from most significant monetary forms and nations following the breakdown of the Bretton Woods agreement in 1971. The United States declared in 1971 that it would never again back the US Dollar with gold, which transformed the US Dollar and most monetary forms into fiat monetary standards.

Key Features:

  • How it works
  • Dividend Program

How it works

AurumCoin started crowdsourcing with a specific end goal to fund-raise to buy gold, which would be used to back AurumCoin. The crusade expressed the gold procured would be put away in Zurich, London, Singapore, New York, Toronto, and Hong Kong. The company is headquartered in The Valley, Anguilla. Users can change over their coins into gold, and CPAs deal with the gold stores.

Users can store, send, and get AurumCoin through digital wallets. AurumCoin assumed retain a steady esteem because it is supported by gold. Users can exchange AurumCoin to any area on the planet. Users can also make payments using a small amount of gold, letting them make buys in any sum.

AurumCoin intends to be resistant to market change like other cryptocurrency coins and tokens, and also fiat monetary standards. Exchange fees are far not as much as customary banks charge. Also, banks in nations like the United States won’t exchange cash for gold, so AurumCoin wants to allow anybody to be able to exchange their cash and coins for gold.

The AurumCoin team consists of industry financial, technology, and monetary specialists. AurumCoin team individuals state on their site that, keeping in mind the end goal to work legitimately, they can’t uncover their personalities. If the cash fizzles, the AurumCoin platform states it will offer the gold they obtained and restore the invested cash to their clients.

At present AurumCoins are available through cryptocurrency exchanges and from private individuals.
The individual investment and trading tasks that company utilize accomplish month to month returns of around 30%. The company has been testing this task in the markets for a year, and the level of achievement, or possibly not having misfortunes is 97.5%. AurumCoin know the market and the qualities in which company invest, and the psycho-logy of trading and investment.

Dividend Program

Points of interest of owning AurumCoin Dividend Program Every three months AURUM FINANCIAL GROUP will distribute among the general population that hold AURUMCOIN, the advantages obtained in the activities completed during the past three months. For instance, if the company obtains $ 300k in benefits, they will distribute them in a weighted way among AurumCoin investors quarterly.

Problems:

Aurum was a dead coin until it was added to the Cryptohub exchange. The price then pumped significantly which led many to believe that the new addition to the exchange was a mere pump and dump. The team also claim to be “professionals” but there is no evidence or information about them whatsoever.

Conclusion:

Aurum is quite a shady project. They claim that they’re backed by gold but no one exactly knows how much they have on hand at any given moment. The coin has also had some very suspicious price action which has the typical pump-and-dump pattern.

Pros

  • Backing

Cons

  • Possible pump and dump
  • Limited information on backing