Bullioncoin: An Unbiased and Honest Opinion
Get comfy, get informed, there is a lot of material to get through on this page but I believe that this is everything you need to know so far! I know everyone loves videos and images but I can assure you that no video or image will contain more information about Bullioncoin than I have written here.
So What is Bullioncoin?
Bullioncoin is set to be the Worlds first gold-backed cryptocurrency which brings together physical gold and blockchain technology. Everyone knows about physical gold and its 5000-year history of long-term stability, as a long-term investment and storage of wealth, it remains one of the safest assets. The trouble is that once you have your gold you can’t do much with it, hold it or sell it are your only options, until now! Most of you at this point should also know about Bitcoin, it has been plastered all over the news globally so it’s hard to miss. Bitcoin introduced the World to blockchain technology and a new way to exchange value through the internet, which in turn is also a new way to get away from banks and all of their fees. Bitcoin is now a hit and extremely volatile, dramatic changes in price can be seen even daily, although ultimately it is running on sentiment and speculation. One thing is for certain; the World has accepted it.
I have been fortunate enough to learn all about the inner workings of Bullioncoin even before launch. The logic behind it makes so much sense to me, it has a real potential to be a money of the future. With this thought process comes the conclusion that there will definitely be more than one of these gold backed cryptocurrencies as we move forward. The beautiful thing about Bullioncoin is that it gives you a way to make use of your gold and not just store it somewhere. If you are to consider that Bullioncoin is a community bank, then buy owning gold in the form of Bullioncoins you are part of that bank. As part of this new bank, you are effectively your own bank and can make a yield on any Bullioncoins that you created and are then used in the network. You would otherwise just have your gold sitting around. Don’t worry if you don’t completely understand this yet, these are all just my introductory words.
Before we go on I would like to mention that Bullioncoin can be created using both gold and silver. 1g of gold = 1 Bullioncoin, 50g of silver = the silver version of 1 coin.
How do you spend Bullioncoin?
There will be a Bullioncoin debit card that will allow you to spend your Bullioncoin in any fiat currency you wish. You will use your Bullioncoin card just like you use a visa or Mastercard. When you use your Bullioncoin card it will be subtracted from your Bullioncoin balance and therefore also your physical gold asset. You can also use QR codes through your mobile/tablet app to spend your Bullioncoin. Essentially this is finally an easy way to spend and use gold!
How Can You Profit from the Bullioncoin network?
If you wish to buy/create Bullioncoins that will return you a yield every single time they are used, you have 2 options. The first is directly through Bullioncoin.com as an institutional investor. This will require that you buy £320,000 worth of gold to be made into Bullioncoins (That figure is subject to change based on the price of Gold). So this not really an option for most of us, only the rich can get richer then, right? wrong! There is another option and this next option will allow anyone to buy as little as 1g of gold to be made into 1 Bullioncoin. Now since this is essentially allowing you to act the same as institutional investors there is a little more to it and this is what I want to focus on now. It’s a tiny bit complicated until you understand it and then it is black and white.
The Other Option:
If you do not have or want to invest £320,000 into Bullioncoin then this other option may be for you. This option has been set up by a company that, up until now, sells gold with free storage. They provide a network marketing program that has been designed for regular people to get involved with Bullioncoin from as little 1 coin. They have also created 5 different ways for you to be able to make money from Bullioncoin.
When I first heard about the network marketing side of this I thought right away that this was just another pyramid setup. I have always hated them and have been approached many times throughout my life by people trying to push them on me. Vitamins, diet coffees, some kind of product that you have to buy every month, which you may very well need but that you can usually find cheaper elsewhere. Logic tells me that the products need to be marked up more than usual to support the pyramid payout structures, so I do understand. I just never wanted to get involved in trying to convince others to buy some overpriced product every month so I could make money off of it. From my perspective, this network marketing program for Bullioncoin is a little different, you are just being part of creating a new age community with their own money supply. You are giving people an opportunity to store their money safely, make money from it, and to some degree even be their own bank. So let’s jump into the details because as this was all presented to me I was continuously left with questions. It took me several direct discussions with one of the founders of this project to have everything I need to make an informed decision. I am always a skeptic and I always look at things in a risk-reward style light. I am not sure you will find things broken down this way anywhere else since most people are playing the network marketing game of fluffing things up. That is not my style.
Being a Customer:
This one is simple, sign up for free and you will be able to invest in Bullioncoins from as little as 1 coin, plain and simple. This customer account can be upgraded to an affiliate or consultant account later on with the click of a button. At this level, you will not have access to all 5 ways that you can make money. You will only be able to buy and sell Bullioncoins and profit if their price goes up.
Being an Affiliate:
This one is also quite simple but opens another door also. Sign up for free, using that green link just above, and you can act like a customer, an affiliate, or both. Just like above you can invest in Bullioncoins from as little as 1 coin. You will also be able to refer other people, using your own custom link, to purchase Bullioncoins and get yourself a retail commission on the sale. This commission will be paid to you down 2 levels for the lifetime purchases of your referrals. You will be able to track all of your referrals and commissions online.
This type of account is what I recommend to everyone as a start point because first and foremost it is free. You will not spend a penny but you will be open to purchase Bullioncoins and also collect commissions on any business you bring in, plus any business that the business you brought in refers. This is commissions 2 levels down and where it ends for affiliates, the commission structure is 20% for your first level down, 10% for the second. These percentages are of course on the difference between the customer price vs the company price, not on the spot price of gold. The other thing to think about here is that you can also see how many people you have referred and how many people each of those people has referred. This means that you can see what kind of team you are building and if it is even worth spending a little money to upgrade to consultant. Remember, you are not selling a vitamin or diet coffee here, you are simply showing your friends and family where they can invest in gold, with very new options on what to do with it, how to actually use it instead of just store it!
As with many things that are free, there is what I can only call ”˜a bit of a catch’ to this Affiliate level. In order to collect any commissions you have generated, you must yourself purchase at least 1g of gold, or 1 Bullioncoin, that month. So now we can think about 2 different types of people and how that effects each. The first type of person is one who wishes to store some wealth in gold and be able to use/spend their gold like it was real money via the Bullioncoin blockchain. This type of person renders that catch null and void because it won’t matter at all. The second type of person would be an internet marketer just trying to generate commissions, one who is not interested in owning gold or Bullioncoin. For this type of person, the only advantage you have is that you will be able to login to your affiliate account and see what commissions have been generated. If you have not generated any then you will not need to buy anything as there is nothing to collect. If you do have commissions to collect you will be forced to buy 1g of gold or 1 Bullioncoin to collect it. Essentially you will be forced to store some of your earnings in a savings account. Personally, I fail to understand the logic on this one because if you didn’t want the gold or Bullioncoin you could then sell what you just bought once the new month started. Regardless of if I understand the logic or not, I feel that most of my members and readers will be interested in building up slowly a gold/Bullioncoin supply to see where this goes. This makes the catch of no importance. Finally, at this level, you will also not have access to all 5 ways that you can make money. You will only be able to buy and sell Bullioncoins and profit if their price goes up, plus generate affiliate commissions from any business you bring in.
Being a Consultant:
This is where the network marketing side really kicks in but also where the ability to get a yield from your Bullioncoins appears. In fact, you will be able to make use of up to 5 different ways to make money. There is a lot to a consultant account so I want to break down those 5 revenue streams first. After that, I want to talk about the cost of doing business and what I consider to be the risk vs the potential of rewards.
1. Just like an affiliate makes retail commissions down 2 levels on referrals who purchase gold, a consultant makes retail commissions down 8 levels. This is for the life of all purchases made by the individual referred. It also doesn’t matter if they just buy gold to store wealth, or if they buy gold to be made into Bullioncoins. It doesn’t matter if they are a customer, affiliate or consultant, these retail commissions are purely about the sale of the metals. The commission structure is 20% for your first level down, 10% for the second, then 5%, 5%, 4%, 3%, 2%, 1% at the eighth level.
2. Unique to this consultant level is the yield that can be made from Bullioncoin transactions in the blockchain. This is specific to you as a consultant and not anything to do with any referrals you have made, or down any levels. In simple terms, any Bullioncoins that you create (purchase) are now in the blockchain cryptocurrency network. What this means is that, just like Bitcoin, anytime your coin is traded or exchanged there is a small transaction cost and this is where your yield comes from. This where you are acting like a bank, only this bank is yours, this bank is ours, and this bank doesn’t charge people ridiculous fees to move their money around, globally! This only applies to your personal coins which you have purchased (or earned) and then spent in to the system. You can also profit from any coins you hold on to via the natural value of the coin increasing!
3. Once any referral you have made becomes a consultant, or someone in your team, down 8 levels of introduction, brings on a new Consultant, you get paid a monthly commission for the life of that consultant plus a one-time gold bonus of 0.5-1.5g (depending on your rank). This gold can then be turned into more Bullioncoins, created by you, ready to make you a yield once you have spent them or exchanged them for cash. The commission structure is 10% of (what was paid for the platform license) for your first level down, 10% for the second, then 5%, 5%, 3%, 3%, 2%, 2% at the eighth level. These commissions and what I mean by rank will be explained to you soon. once you use the links on this page to sign up as a free affiliate I will send you a welcome email with the info.
4. Whenever you introduce a new Wallet user (tracked on the blockchain via the BCX Platform)
5. Finally let’s not forget the natural price of spot gold, as these prices rise so does the minimum price of any gold you have stored, or any Bullioncoins that you hold in your e-wallet.
Risk vs Reward:
As with all network marketing structures, you have to be a regular customer yourself and believer in the product. In this unique case, the product is an asset and something that can make you money from by owning. The asset is, of course, precious metals and so the money to support this network and commission structure comes from having to pay for your own back office platform and website. The cost of being a consultant was presented to me in a network marketing way but I will be presenting it to you in a more black and white fashion. Here is how it works and how I have determined what the initial risk to you is financially.
Your Risk:
You are required to purchase a welcome pack for £199 which gives you 2g of gold (2 Bullioncoins), 20 vouchers (discussed below), and the platform costs covered for 1 month. So at this stage, you have spent 199 for £70 worth of gold and 20 vouchers which don’t have much value to you personally but do have value for you in a different way. This means that your risk so far is £129 and unless you have a good team and network built already is what you are out of your pocket.
The next stage starts after your first month and has ended and has 2 very different choices. One option is to just pay £99 per month to remain a consultant and continue to profit in the 5 ways mentioned above. This ends up being your monthly cost of doing business and maintaining your consultant status. This also includes 1.5g of gold each month meaning that you are getting around £52 worth of gold for your £99 and the platform license is costing you £45 each month, this you can add to your risk calculations. The other option makes the most sense to me personally, it is a yearly option. Opting for the yearly option costs £1089 but also gives you 20g of gold (20 Bullioncoins), 250 vouchers (discussed below), and the platform paid for a year of course. So if we work with the yearly option then we are now getting £700 worth of gold which deducted from the £1089 means your risk is £389. £389 + £129 that was risked on the first month is £418, that £418 is what you are spending for 13 months of being treated like an institutional investor. 13 months of being able to earn money in the 5 ways outlined above, 13 months of having a nice website and back office to track everything, 13 months to see if you can make it work. £770 of your money is stored in Bullioncoin for that 13 months which may even earn you the £418 back anyway. If the price of gold went up significantly and Bullioncoin takes off then your coins would be used in transactions. These are the unknowns so let’s stick with current reality and think about what is the worst that could happen? Things don’t work out for you as a consultant and/or Bullioncoin has issues somewhere somehow. You still have your gold and can withdraw it whenever you like. So maximum risk is around £418 to find out!
After 13 months I have been told you can repeat the yearly package, get 20g more gold, 250 more vouchers (discussed below) and another 12 months covered for your website and platform. Without getting too picky and exact on figures this next year to keep your business running is going to cost you around £1 per day. Not a bad cost of doing business and a very low risk that should be easily covered between those 5 ways of making profits that you have access to.
It’s a good time now to understand these vouchers. Each voucher you get provides the holder special rates on their first purchase of gold (Spot price + 10%), limited to up to 10g maximum, or, the opportunity for that user to purchase Bullioncoins that once spent will make them a yield for life. This Bullioncoin purchase option will only require the user to be a customer or affiliate, both of which are free. They will not need to be consultant yet, but it will hopefully spark their interest in joining this revolution. Any 1 person may use a voucher once and once only, including yourself. The prices of gold that will be available to the voucher holder are the cheapest compared to other providers at the 1g level. This is the part that I felt was a little fluffed up because I found that buying 10g with the 10% discount was not really much cheaper than you can find at standard prices elsewhere. It really is the small amounts that prices can’t be beaten and there that is the real saving. This tells me that buying 2-3g of gold with these vouchers is the best way to use them if you wish to own gold. All of these factors make these vouchers very useful to a consultant trying to grow their team/network.
Your Reward Potential:
As you already know there are 5 ways that rewards can be generated, there are many unknowns and all you can know at this stage is payment structures. The unknowns are the price of Gold, the price of the Bullioncoin (and to what degree it will take off and at what speed), the size your team will end up being, the amount of Bullioncoin your team will buy, how many people you refer become consultants etc. All you can do for now is focus on the facts. Retail commissions are laid out in their percentage structures and have been explained already above. Gold bonuses have also already been explained above.
Bullioncoin Network and Exchange:
If any of the above had left you a little confused it will help you to understand how Bullioncoin itself will operate. There is a Bullioncoin Network (BCN) and a Bullioncoin Exchange (BCX) and understanding each will also help you understand Customer, Affiliate, and Consultant better.
The Bullioncoin Network (BCN) is where anyone on Earth will be able to buy Bullioncoins. There is, however, an advantage of being a Customer or Affiliate at the company I am linking you to. You will be able to buy as many Bullioncoins as you like, all of which will make you a yield for life once you have spent them into the system.
The Bullioncoin Exchange (BCX) is only for primary investors who have £320,000 to invest, OR, Consultants at the company I am linking you to. Buying your Bullioncoins as a Consultant means that you are creating coins for the BCX and accessing the same advantages as those who invested £320,000, plus the other ways that were mentioned above.
My Verdict as of October, 2017:
Sign up for a free affiliate account and open the door to everything for free! Nothing to lose, literally. If as a free affiliate you see that you are not building a team then there is no point in becoming a consultant. If you see that you are building up a nice team then the small risk makes sense. I myself believe that I know enough people who think like me and will see the potential as I do. Just as soon as I see everything go live and work as has been explained to me, I will be risking the £418 to give this 13 months and see how it all unfolds. It’s not a lot of money and as long as the World understands the idea of a gold backed cryptocurrency makes, this thing should take off. The thing that I can’t be sure of is how the powers that be will react as we cut their grass, I’m also on the fence about if the younger generations even want their money backed by anything, the older generations I believe will feel safer having the backing. Only time will tell and all we can do is follow along and see. I have already seen other gold-backed cryptocurrencies popping up, this one here called GoldMint has launched an ICO and has a very different approach from Bullioncoin and I just don’t feel as good about these ICO style setups.
I do have more info on the yield percentages, ranks for gold bonus levels, consultant commissions and much more detail on the inner workings of everything touched on here. Sign up as a free affiliate account using this link below ad I will have your email address. Once everything goes live in October I will be emailing everyone on my list with more details than you probably need!
