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 private blockchain which allows us to set up trusted mining networks and secure brick and morter locations. We do not liquidate through postal mail or any mail services so do not ask us to send you gold this is not possible. We also do not liquidate gold for cash. If you want cash you can either send your gold to another Galaxycoin account holder who will buy your gold for cash or you can liquidate bullion and take it to a place where they accept gold for cash. Bullion liquidation will take place at a secure business location.
Rules: Liquidation will have minimums and maximums per transaction per wallet address with a waiting period of 20 days between each liquidation. You can liquidate / redeem your precious metals in Troy Ounce increments.
• GalaxyGold – Minimum: 2 Troy Ounces, Maximum: 3 Troy Ounces
• GalaxySilver – Minimum 60 Troy Ounces, Maximum: 120 Troy Ounces
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.
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 bullion.
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 in the country where you liquidated.
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. These basic liquid rules are in place in order to reduce the number of small liquid transactions and control fraudulent activity. Of course if you need the asset for something you do not have to always liquidate, you can always send it to another Galaxycoin member in exchange for goods and services.