TxGold - Frequently Asked Questions
When will TxGold be available?
TxGold is available now. Click here to get started.
(Note - if you consider yourself to be an “advanced” user (i.e. you are familiar with and already using a digital wallet for the Stellar platform) you can start here instead.
Can I redeem TxGold for actual gold?
Do you offer a guarantee to store and redeem physical gold?
Yes, when you acquire TxGold tokens, you and RMF enter into a bailment agreement - which contractually obligates RMF to store and (when requested) redeem physical gold for TxGold tokens. Learn more by reading our User Agreement.
Is there any kind of 3rd party review of physical gold holdings?
I’m interested in exchanging other virtual/crypto currencies with TxGold - is this possible?
Yes, there are existing companies where you can buy gold coins using crypto currencies - and have the coins sent directly to our storage account. In addition, we have started placing offers on Stellar’s distributed exchange - making it possible to purchase TxGold with a variety of tokens. Learn more by reviewing our exchange page.
Is TxGold available in my country/province?
TxGold is available to residents in all countries, including 43 of the 50 U.S. States (see the getting started page to check availability in your state).
I’ve heard Gold prices are on the rise - is TxGold a good investment?
No. Neither gold, nor TxGold, should be thought of as an “investment”. From a financial perspective, an investment is understood as the process of purchasing a monetary asset - with the expectation of that asset providing income e.g., interest or appreciation in value, in the future. In the short term, gold may rise or fall in value relative to other assets/currencies; but in the long term, it tends to retains its value. That is what makes gold the best form of money. But it is a mistake to think of it as an investment.
Users who acquire TxGold should not expect any profit; we are not “investing” funds in any type of enterprise; rather, we are providing storehouse services and “warehouse receipts” (i.e. tokens) for physical gold. TxGold actually charges a modest (0.48%) annual fee for securely storing gold.
What can I buy with TxGold?
Using one of the many wallets available for the Stellar platform, TxGold tokens can be sent to any other registered user/business; this is the first of several steps in a journey to restoring the role of gold as usable money. We realize there is much more work to be done in advocating for gold-backed currency – along with moving virtual currencies beyond a novel concept. Today, that concept is embraced primarily by early adopters and technology enthusiasts. Looking ahead, we plan to partner with wallet makers, payment processing services, and others to enable TxGold to be used anywhere – and by any person.
Where is your TOML file?
We’ve placed our TOML file over on our corporate web-site - it is located here.