Liquidating assets: means you would like to receive a virtual precious metal asset. You can be issued direct bullion based on your blockchain address. Liquidation is currently available for any client that is part of the Galaxycoin.io blockchain. Because of changes in regulation liquidation will require identity although this is already inherent because our blockchain is private and requires all users to submit identity. Your identity will not be shared with other users in this blockchain so if you want to remain anonymous to other users you certainly can.
Process: Galaxycoin is a partially centralized private blockchain which allows us to set up trusted mining networks and secure brick and morter locations. We no longer will liquidate through postal mail or any mail services. Liquidation will take place at a secure business location. Our first liquidation location is set up in South America and will require travel for international clients.
Rules: Liquidation will have minimums and maximums per transaction with a waiting period of 30 days between each transaction. You can liquidate / redeem your precious metals in 20 gram increments.
• Galaxycoin – Min $1,000 USD, Max $3,000 USD
• GalaxyGold – Min 60 grams, Max 100 grams
• GalaxySilver – Min 500 grams, Max 1000 grams
• Galaxyshares – NOT liquidable, strictly a cryptocurrency
International: You would like to travel to one of our locations to liquidate your assets and then travel back to your home country. First you will need to schedule a liquidation request with our team. We will offer secure airport shuttle service, recommend hotels and schedule the meeting location. Understand that liquidation is a professional service so you will be recommended to stay in a five star hotel.
You must bring your KeyStore file and a personal mobile device or laptop in order to move assets into liquidation accounts. This is pretty much like bringing your credit card with you. In order to protect client accounts we do not provide any hardware so you need to bring your own virus free devices. After a liquidation has been verified and fees have been paid you will be issued your asset.
Important: It is up to you to research the rules and regulations when moving assets across borders. Generally, it is not a problem as long as you report what you are traveling with so we recommend you fill out your travel documents accurately. Keep in mind after you liquidate you are completely free to spend the asset or currency in the country where you liquidated your assets.
When assets are liquidated clients are no longer part of Galaxycoin.io. We would prefer assets stay in circulation for as long as possible but this is really up to the community. Basic liquid rules are in place in order to reduce the number of small liquid transactions and control fraudulent activity.