Digitalization of Gold
The State of Physical Gold Ownership
Many people own inherited or acquired physical gold in the form of bars, coins, or jewelry. Despite its value, owning physical gold comes with challenges, especially when it comes to liquidation.
Liquidation Problems of Physical Gold
A central problem of owning physical gold is liquidation. If you want to quickly convert gold to cash, it is not always easy. Selling gold requires time and effort: you need to find a trustworthy buyer, consider the current market price, and possibly incur transportation and storage costs. Additionally, there is a security risk associated with storing and transporting physical gold. These hurdles make it difficult to quickly access the liquidity tied up in gold.
The Solution: Digitalization of Gold
Bretton Woods digital AG offers an innovative solution that allows the use of physical gold in digital form. This process, known as tokenization, converts physical gold into digital units that can be traded on a secure platform.
Advantages of Digitalization with Bretton Woods digital AG
The digitalization of gold offers several advantages, particularly in terms of liquidity:
Easy Access and Use:
Digitalized gold can be used through various channels. At Bretton Woods digital AG, customers can easily use their gold via a debit card, make online payments, or withdraw cash from ATMs.
Security and Transparency:
Digitalized gold is secure and transparent. Every transaction is stored on a blockchain, making manipulation nearly impossible. Additionally, the digital units are always traceable and auditable.
Quick Liquidity:
The biggest advantage is quick liquidity. Owners of digitalized gold can quickly and easily access their assets without going through the time-consuming process of selling physical gold.
Global Acceptance:
Digitalized gold is accepted worldwide. This allows owners to use their gold reserves in different currencies and locations, which is not readily possible with physical gold.
The digitalization of gold provides an efficient and secure way to utilize and liquidate investments. Through Bretton Woods digital AG, gold owners can fully leverage the value of their gold without the traditional hurdles of physical gold trading, making gold digitalization an attractive option for those who value flexibility and security.
Requirements for the Digitalization of Gold at Bretton Woods digital AG
At Bretton Woods digital AG, we only accept certified gold. This means that customers must have their gold certified by a recognized specialist before transferring it to us.
Here is an overview of the certification process and the necessary steps and documents.
Legal Requirements
In addition to the above requirements, the gold must meet the following conditions:
Free from Third-Party Rights: The gold must not be encumbered with third-party rights.
No Origin from Sanctioned Countries: The gold must not originate from countries subject to international sanctions.
No Ownership by Politically Exposed Persons (PEPs): The gold must not be owned by politically exposed persons.
Tax Requirements
When buying and selling gold in Germany, certain tax requirements must be met:
Value Added Tax (VAT): Investment gold is generally exempt from VAT. However, other types of gold may be subject to VAT.
Capital Gains Tax: Selling gold within one year of purchase may incur a capital gains tax. After this period, the profit remains tax-free.
Purity Requirements of the Gold
The gold intended for certification and transfer to Bretton Woods digital AG must meet the following requirements:
Karat: 24
Trade Names: Gold 999, Fine Gold
Weight Percent Gold: 99.99%
Density: 19.3 g/cm³
Gold Certification by Recognized Specialist Firms
Before transferring your gold to Bretton Woods digital AG, it must be certified by a recognized specialist firm.
Renowned specialist firms in Germany that certify gold include:
Degussa Goldhandel GmbH
Heraeus Precious Metals GmbH & Co. KG
Pro Aurum GmbH
Gold Certification Process
1. Proof of Identity and Ownership: The gold owner must prove their identity by presenting a valid ID or passport and ownership of the gold through purchase receipts or other relevant documents.
2. Analysis and Evaluation: The gold undergoes a detailed analysis to determine its purity and weight. Methods such as X-ray fluorescence (XRF) analysis or chemical tests are used.
3. Issuance of the Certificate: After successful examination, a certificate is issued confirming the purity, weight, and other relevant characteristics of the gold.
Necessary Documents for the Acceptance of Gold at Bretton Woods digital AG
To transfer your certified gold to Bretton Woods digital AG, you need the following documents:
Certificate from the Specialist Firm: An official certificate from a recognized specialist firm confirming the purity and weight of the gold.
Proof of Identity: Registration on our platform, including the KYC process.
Proof of Ownership: Purchase receipts or other documents proving your ownership of the gold.
Tax Documents: Proof of the tax processing of the gold purchase, such as VAT receipts or tax clearance certificates.
Transfer of Certified Gold to Bretton Woods digital AG
After certification and compilation of all necessary documents, you can transfer your gold to Bretton Woods digital AG. We only accept gold that has been certified by recognized specialist firms and is accompanied by all required documents.
Contact
If you have further questions about the digitalization or certification process of your gold, please do not hesitate to contact us. Our team at Bretton Woods digital AG is happy to assist you and help make the process as smooth as possible.
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