IoteX is a series of Precious Metal (PM) backed currencies. For each IoteX Gold, there is a one-to-one ratio of an ounce of precious metal (in the case of IoteX Gold one fine troy ounce of a London Good Delivery gold bar). IoteX would do all the work to buy, sell and store in professional vault facilities and provide you with the facilitated payment card in which you can do day-to-day buying and transactions. Anyone who owns IoteX Gold has ownership rights to that gold under the custody of IoteX Company. Since IoteX Gold represents physical gold, its value is tied directly to the real-time market value of that physical gold. On the IoteX platform, you can convert your IoteX Gold to gold coins or bars, or fiat currency quickly and efficiently, reducing your exposure to settlement risk.

Owning physical assets online provides you with the combined benefits of both physical and digital assets. As an IoteX Gold holder, you will be able to enjoy ownership of gold while avoiding drawbacks associated with physical gold, such as high storage costs, security, and limited accessibility. More importantly, you can liquid your investment (Precious Metal such as IoteX Gold) in a matter of seconds and spend it with the IoteX payment card in whatever seems fit.

The total supply of the IoteX Gold is equal to the gold owned by IoteX. a 1 to 1 ratio of one fine troy ounce of gold to IoteX gold would be always constant. The total supply of IoteX gold will continuously change because of market demand but the ratio would be consistent.

Yes. You can buy a small fraction of IoteX gold. It is divisible into 1/1000 of a troy ounce. The minimum purchase is 0.001 of IoteX Gold which is equal to 0.001 of an ounce of gold. (now its value is around 1.8 USD)

At the time of buying IoteX charges a small competitive fee to process the allocation of the gold. The fee chart is shown below.

*Fee percentage is calculated based on IoteX tokens; USD is included in this chart as an estimate for reference only

**The minimum purchase amount is 0.001 IoteX

You can easily click and buy it from the purchase page. Remember that you can buy it only in specified fractions (0.001 of IoteX equal to 0.001 of gold)

The minimum purchase amount is 0.001 IoteX Gold or 0.001 fine ounce troy today (May 2022) valued at 1.8 USD.

There are no custody or storage fees. Purchasing fee will be applied when you buy the gold. This fee is shown separately in purchasing panel.

You can redeem your IoteX gold any time in form of cash through our payment card and physical form. Redeeming in physical form can be done only in specific quantities. Since there is a limited number wight of coins and bars in the market. Since we will buy gold only in heavy allocated bars, the cost of minting (difference price 400 oz bars to the coin of your choice) the low weight coins and bars will be applied to you. Other costs will be the cost of shipping, insurance, and tax which would vary by your location.