Where Can I Find Star Money (continued)
For a crypto solution that I recommend, please look at Kinesis Money. They keep a 1:1 ratio of precious metals to the holdings AND this is audited by an external auditor each quarter, which is magnificent. Look at the KAU for gold and the KAG for silver as tokens.
KVT is not Star Money, it is an equity token (like a stock) in Kinesis Money and is only available for accredited investors.
Kinesis Money has a lot of great features like limit trading, and they are international, based in the Cayman Islands, with a significant interface to Australia.
.The holdings at Kinesis Money are in grams of gold or ounces of silver.
From my experience, I do think that Kinesis Money has too many irons in the fire and that at times the AML anti-money laundering gets in the way of making deposits causing very long delays.
.Another issue that is recent is that they are international, and with tariffs being thrown about with great exuberance, it is a risk that gold and silver investments would be subject to tariffs, and that creates a 25% headwind on any profits that you can make.
One great Kinesis Money benefit is that they split their fees into a pool and share this with their customers, payable in gold and silver. I haven’t seen anyone else pay dividends based on activity. Another great service is education, watch their Youtube “Live From The Vault” videos each week to understand trends and situations affecting Star Money. Kinesis Money has a mint in Turkey that also makes physical precious metal coins for Kinesis Money.
I used Kinesis during a period of time when crypto and foreign providers were being abused by US banking regulators and the SEC. The banks and the SEC were trying to adapt to providers of crypto. The US banking system closed many on-ramps to Kinesis Money to such an extent that it was just easier to wire the money directly to Australia. I believe that this is getting better now.
Glint is a new vendor for me. It is US based and is a virtual holding platform. The holdings are allocated. It blurs the line between physical and crypto the way that the GoldSilver.com Vault purchases do. Glint also has a Mastercard that allows you to make purchases using your gold. It is a next-generation system that I am excited to try.
.. Star Money and how it is reacted to in a virtual world is still evolving. It is taking to the Wild West, so invest a little and look around. If you feel good, invest how you see fit. However, the old saying to not put all your eggs in one basket applies here in dramatic fashion.