Show HN: Jz.io – Exchange physical bullion coins and hedge inflation (maybe)
4 comments
I feel this is spot-on. From previous experience trying to get into it, trading gold or silver today feels like buying from car dealerships. If your platform delivers on its premise you may well have built the Tesla of precious metals.
2K seems like a fairly high price of entry. Are there plans for fractional trades? (I'm not even sure that's a thing).
2K seems like a fairly high price of entry. Are there plans for fractional trades? (I'm not even sure that's a thing).
No plans. The point of gold and silver is to reduce/eliminate counter party risk and there are plenty of paper gold products out there to meet that need.
I would suggest Silver, which trades for around $40 today.
I would suggest Silver, which trades for around $40 today.
How is the gold certified that I’m not going to receive a gold plated coin with the inside made of fools gold?
Great question! Initially, certified dealers will be the primary sellers on our platform, including coin shops and online dealers who prefer our marketplace over others. Additionally, those who choose to leave their coins on the exchange. As we grow, we'll develop ways to verify the supply and ensure its authenticity. Trust is the key problem we're working to solve here.
In addition to that, bullion coins are generally more difficult to fake compared to bars, because they come in smaller sizes and have standardized weights and measures. Additionally, they often feature intricate designs and security features, such as micro-engraving and radial lines, which make counterfeiting much more challenging. Plus, reputable mints produce these coins, ensuring their quality and authenticity. So, rest assured that our platform is dedicated to maintaining the integrity of the gold being exchanged.
In addition to that, bullion coins are generally more difficult to fake compared to bars, because they come in smaller sizes and have standardized weights and measures. Additionally, they often feature intricate designs and security features, such as micro-engraving and radial lines, which make counterfeiting much more challenging. Plus, reputable mints produce these coins, ensuring their quality and authenticity. So, rest assured that our platform is dedicated to maintaining the integrity of the gold being exchanged.
How can we trust you to be custodians of the gold? What if you are robbed? Are you holding all the gold?
You're absolutely right, the essence of our platform is to emphasize the p2p element, ensuring that most of the gold isn't held by the exchange. This helps reduce counterparty risk and stays true to the core principles of gold ownership.
I've sold silver myself and know how tough it is when dealers offer spot and then turnaround and charge crazy premiums for the same coin. 70% today. I think we can capture more value.
That said, I've also worked at Easypost, so I know how to ensure gold gets shipped securely through USPS – literally with guns, lock, and key.
The main technological challenge we're addressing is trust. We want to create a platform where users can confidently buy and sell gold with one another, knowing their assets are secure and transactions are transparent.
I've sold silver myself and know how tough it is when dealers offer spot and then turnaround and charge crazy premiums for the same coin. 70% today. I think we can capture more value.
That said, I've also worked at Easypost, so I know how to ensure gold gets shipped securely through USPS – literally with guns, lock, and key.
The main technological challenge we're addressing is trust. We want to create a platform where users can confidently buy and sell gold with one another, knowing their assets are secure and transactions are transparent.
I have to trust that they will mail me gold coins, or?
USPS insurance covers gold shipping up to $50,000
To get started, simply fund your account, and begin bidding on coins at the price you choose. You can either have your purchased coins shipped directly to you or trade them on our exchange. Our mission is to provide a seamless experience for those looking to invest in physical gold and silver, while still benefiting from the flexibility and accessibility of digital trading platforms.
We realized that, despite the growth of digital assets, there's still a significant demand for physical precious metals as a hedge against inflation and economic uncertainty. Our platform bridges the gap between traditional precious metal investments and modern trading technology, making it easier than ever to buy, sell, and trade gold and silver bullion coins.
If you have any questions, stories, or insights about precious metal trading or the technology behind our platform, we'd love to hear from you! Let's discuss the future of gold and silver trading in the digital age.