How does Kinesis Money work?

Learn how does Kinesis Money work.

Kinesis Money is a digital currency system that aims to combine the benefits of cryptocurrencies with the stability of precious metals, specifically gold and silver. It operates on the blockchain technology and offers a unique approach to digital currencies by providing them with intrinsic value through the backing of physical gold and silver.

Here's how Kinesis Money works:

1. Digital Currencies: Kinesis Money offers two digital currencies - the Kinesis Velocity Token (KVT) and the Kinesis Monetary System (KMS) currency. These digital currencies are created on the blockchain and are designed to be used as a medium of exchange.

2. Minting Process: When you purchase Kinesis digital currencies, the equivalent amount of physical gold or silver is allocated and held in secure vaults on your behalf. This creates a direct link between the digital currency and the underlying precious metals.

3. Yield System: Kinesis Money operates on a yield system that allows users to earn a share of the transaction fees generated within the Kinesis ecosystem. These fees are distributed proportionally among the Kinesis token holders, providing a passive income stream.

4. Secure Storage: The allocated gold and silver are securely stored in independent third-party vaults, ensuring the safety and integrity of the precious metals backing the digital currencies. Regular audits are conducted to verify the existence and authenticity of the physical metals.

5. Spending and Transfers: Kinesis digital currencies can be spent or transferred to other users within the Kinesis ecosystem. Transactions are conducted using digital wallets, which provide a convenient and secure way to manage and transfer your digital currency holdings.

6. Redemption: If desired, users have the option to redeem their digital currencies for physical gold or silver. This process involves converting the digital currency back into allocated bullion, which can then be delivered to the user.

Overall, Kinesis Money & KAU Gold aims to provide a reliable and transparent digital currency system that combines the benefits of blockchain technology with the stability and intrinsic value of gold and silver. It offers a unique proposition for individuals looking for an alternative form of digital currency that is backed by physical assets.