Before modern money evolved into unbacked paper, it was backed by precious metals. The value of the metal was represented and transferred with a piece of paper. Just like the deed to a house represents ownership, paper money represented ownership of precious metal. This paper money was even redeemable for the precious metal it represented; doesn't that sound convenient?
Possessing this paper money was the same as holding a receipt for the purchase of the metal. Silvertoken is "receipt money" just like fully backed government currency formerly functioned. When you hold Silvertoken in your digital wallet, it is the same as holding a paper receipt for the purchase of silver.
What Is Redeemable?
Silvertokens are redeemable for the physical silver each token represents. The silver bullion is stored within a secure vault and must be shipped to your location. Doing this is a simple process and outlined below.
Prior to modern paper fiat money, successful civilizations used paper money redeemable for precious metals. Silvertoken is an improved digital version of redeemable money.
How Do I Redeem?
Redeeming your Silvertokens for silver is simple - submit a redemption request, transfer your SLVT and receive your silver in the mail!
Our Redemption Process
Submit a Redemption Request
Let us know you want to redeem! Complete the request below to begin the simple process of redeeming your SLVT. After we receive the request, all of your details will be confirmed. A minimum of 100 ounces of silver must be redeemed because vaulted silver is comprised of 100 and 1000 ounce bullion bars.
Transfer Your SLVT
Before your silver is shipped, we must receive the SLVT you are redeeming. You will be provided with the redemption wallet address to send your SLVT. There is a 4% fee paid in SLVT to cover the costs of shipping, insuring and physically removing the silver from the vault.
Receive Your Silver in the Mail
It’s that simple. All that's left to do is wait for your package to arrive. Tracking information is provided so you know when to expect a delivery. Once you receive your silver, let us know on social media!