Crypto exchange through Gold
Karatbars International, a renowned name in the gold and mining industry, are now providing full crypto exchange and banking services in Karatbars worldwide. Over a conversation with Dr. Herald Seiz, we discuss what makes Karatbars crypto venture different and unique.
Launched in 2011 as a gold and mining company, Karatbars International would have probably not dreamt that one day they would be letting their customers trade in gold and make a living for themselves. Brainchild of Dr. Herald Seiz, Karatbars has grown from one height to another over the last few years. With the launch of Karatbars cryptocurrency bank, also called KCBs, the brand is now providing an opportunity to purchase gold, store their tokens in a bank and trade them, which would earn them money. However, is Karatbars a secured source of investment? With the returns being exponentially high, does it make financial sense to invest in these? We meet with Dr. Herald Seiz, Founder of Karatbars International during his recent trip to Dubai to discuss the concept, risks associated with the investment and the launch of their latest phone, a masterpiece in itself.
- What inspired you to start Karatbars International?
It's a long story. I started working in the financial industry when I was 19 years old. It was in 2004, while I was working for an insurance company, that I actually began feeling out of place and felt like doing something better, more secured for people around me. That’s when I thought about Gold and in 2011, I finally started my own venture Karatbars International to sell gold.
- What is Karatbars International and what does the brand mean to you?
Karatbars International is a big family, I would say. We were the first of its kind allowing people to buy gold in small quantities like one gram, five grams and more, and we created a payment system with gold too. Karatbars, to me, is everything. It is the where many individuals have invested in and many have made a living out of it too.
- From selling gold to cryptocurrency, what brought about this major transition?
In 2017, when cryptocurrency had become popular, I saw many of my employees and friends running behind it and wondered why. In anticipation, I did some research over the internet, educated myself and understood the concept and its pros and cons. The fact is that most of the cryptocurrencies weren’t pegged to something tangible. You can burn paper but you can’t burn gold. It has been known for more than 5000 years and it was pegged to the USD in 1971. So the security that a gold backing provides, nothing else does. Hence, I decided to bring gold and cryptocurrency together and launched the idea. We received our first Initial Coin Offering (ICO) in September 2017 and since then we haven’t ever looked back.
- Apart from these, how else is Karatbars cryptocurrency different from the rest in the market?
A cryptocurrency is a currency, we’re a financial system on our own. In November last year, we created our own financial exchange. We launched our own blockchain technology. Hence our KBCs and our payment systems run on the blockchain. We’re different and more reliable in every manner. We’re a direct selling company. In fact, the coins which very initially priced at 0.5c per gram are now priced at 7c. That’s a big advantage for our investors and partners.
- Is the Karatbars cryptocurrency only meant for investment?
Not really. We’ve provided two options for our customers. Either invest with us or work with us and grow with us. With the first option, customers can purchase from our different packages and invest in the coin. In the second option, we allow the customer to join us, begin direct selling and thus keep earning continuously with every sale.
- What are some of the risks associated with investment in Karatbars Cryptocurrency?
See, every cryptocurrency has an idea which becomes popular only when people start to develop trust in it. But if the company undergoes issues or if the management takes some wrong decisions, you lose money. With us, however, its less likely to happen as we’re linked with gold which has a history of not going down in value in 5000 years. That’s why our coins are also more successful because inherently, we are a gold company.
- You have an office in Dubai too. What inspired you to expand your business in Dubai and how popular is your brand becoming here?
Dubai is a lifestyle city. The general vibe of the city is enchanting and that’s what attracts everyone. They’re the first to do everything today so, with anyone who identifies himself with groundbreaking work, Dubai is the first city that comes to mind. We’ve recently launched a new phone called K1 and I honestly couldn’t think of any other country better than Dubai to launch the same.
- In that case, tell us more about your new phone - K1? How is it different and what new are you bringing to the region?
K1 brings the first of its kind of technology in the world. We have no competitors because no one has ever tried it. It is the most secured phone you can ever think of. Each phone is unlocked by a unique private key. And since we’re into the blockchain, our system ensures that the codes are changed every 10 minutes. The codes are 60 characters long and decoding 60 characters in 10 minutes is extremely difficult. So nobody can hack your phone, listen to your private calls or get any kind of access to it.
- In conclusion, what investment tips would you like to give our readers?
Be open-minded yet careful. There are too many things happening around. Learn about everything, do your research and then go for something only when you’re 100% sure. Always double check the commodity to which the currency is pegged to ensure that you’re not investing in paper. Take your time but stick with the choice you make.