Is Silver Token Legit? (Investing By Blockchain?) (2022)

August 23, 2022

IS SILVER TOKEN LEGIT?

Hello and welcome to my ‘Is Silver Token Legit?’ article.

In this day and age, there are a lot of ways to invest money. Contrarily, some of us just wants to protect our money. In this ‘Is Silver Token Legit?’ article, we will be tackling a firm that does both.

Now, how can silver and technology work together to bring financial stability? Is it the new and improved way of investing your assets? If so, what are some of the necessary knowledge you need to learn before working with Silver Token?

Such questions are the focus of this article. So, sit back and relax as I lay down my observations regarding this firm. Nevertheless, you can also do your own research to supplement my findings.

Without further ado, let us start this ‘Is Silver Token Legit?’ article!

Silver Token Review Quick Summary

Name: Silver Token

Website: https://silvertoken.com/

CEO: Richard Malik

Account minimum: No information available

Fees: No information available

Promotion: Buyback policy

Rating: 3/5

silver token logo

What is Silver Token?

silver token website

As a start, Silver Tokens came into the industry in 2017. Admirably, they managed to combine investing and block-chain technology. As of the moment, they have SilverTokens (SLVT) as their digital format.

To further explain, SLVT represents possession of silver coins in its physical form. First and foremost, it relies on the Ethereum blockchain.

By the time of this writing, 1 SLVT is equivalent to 1.035732 ounces of investment-grade silver. In addition, 1 SLVT equates to $24.

Currently, silver is a stable asset and has retained its value. Moreover, like gold, it retains its value even during times of uncertainties. Take for example, situations wherein there is a high inflation rate or national economic fluctuations.

With Silver Token, they claim to ‘protect your wealth with sound money’. Additionally, they are educating their potential clients about the ins and outs of this business. For starters, they have their own YouTube channel.

In terms of partnerships and associations, they have 12 secured vaults across 8 politically-stable countries. Furthermore, they are in good terms with several firms such as Loomis and SWP (Strategic Wealth Preservation).

But, is Silver Token the best method of investing in today’s market? Also, are their products and services fair and stable. Lastly, how does it compare to the big names in the precious metals industry such as Augusta Precious Metals?

For that, please take a look at the following points of mine.

Products and Services

Previously stated, Silver Tokens utilize a unique method of protecting your asset. Take note, buying silver in its physical form requires a lot of effort. Therefore, Silver Token took advantage of the benefits from using blockchain.

This company uses SilverToken (SLVT) as a form of proof of ownership, particularly of silver. In simpler terms, this can be considered as a vault receipt, check, or proof token. However, this is not a cryptocurrency!

On top of that, if you want to sell your SLVT, this company will buy it from you immediately. Take note, the price tag of your SLVT will depend on the spot price for silver. In a way, Silver Token gives you the opportunity to buyback.

For more information, take a look how SLVT compares to other form of investment assets.

How Does It Work?

To enumerate, these are the steps you need to follow if SLVT appeals to your fancy.

  1. Select your digital wallet – first and foremost, you need to have ethereum (ETH) and a wallet that supports ERC-20 tokens.
  2. Set up your wallet – next, you can utilize the links given by Silver Token for their SLVT Smart Contact Address. With this, your account will be able to conduct business in relation to SLVT.
  3. Buy SLVT – now, you can start purchasing SLVT at live silver price. Do remember, a minimum purchase of 0.2 ETH (roughly $325) is required.

If you want to redeem your silver, you can do so in any of their 12 vaults. Note, a minimum withdrawal of 2 bars (equivalent to 200 ounces) is required.

SLVT Takeaways

Fortunately, Silver Token gives us a concrete explanation on why the company started doing this form of investment. For them, they perpetually believe that the next global financial crisis is looming.

As such, they believe SLVT to be the new way of protecting your wealth. As per their words, government currencies will come into ruin. In addition, currency is slowly being destroyed by over-creation of it as well as inflation rates.

Now, they also list the benefits of investing in silver through SLVT. According to them, silver, as well as any precious metals, is a legal tender. Thus, it can be used as assets to protect your wealth.

Consequently, here are some of the major concepts and key points you need to be aware of. Personally, it was quite interesting browsing through these as it really outlines other vital offers that this company have.

  • Registering as a Merchant – as a merchant, you will be receiving portion of sales and fees. Also, you will be benefiting from a lot from transacting with Silver Token.
  • Becoming a Silver Token Ambassador – as an ambassador, you are going to have commission. For example, when someone clicks your ambassador link and purchases SLVT, you will receive a fair commission.
  • Redeeming SLVT – the steps are quite easy! Firstly, submit a redemption form. Secondly, transfer your SLVT so that it goes out of circulation. Lastly, pickup your silver at any of the 12 accredited vaults.

Customer Ratings and Reviews

Now, here goes the most intriguing part. As stated, Silver Token only started in 2017. Moreover, they are currently doing business in a new way, namely blockchain. That is why, there are no reviews from reputable organizations at the moment.

Nevertheless, I have also not encountered any single report about them of scams or any fraudulent acts. Hence, one can argue that the lack of good word may be because of their little online presence.

Be that as it may, I will still update this post as soon as I find a meaningful review. For now, I suggest conducting business with a respectable precious metal firm. Augusta Precious Metals, also a leading gold IRA company, is a big name in the industry.

Pros and Cons

Pros

  • New method of investing through blockchain
  • 12 global vaults that are private and fully insured
  • 24/7 Availability to sell back to them
  • Small share of all transaction fees
  • No account creation needed
  • SLVT are safe, stable, and is a real asset

Cons

  • No other precious metals offering
  • No IRA offerings
  • Prices and fees are undisclosed
  • Few ratings and reviews since it is still new
  • Not a cryptocurrency
  • Online platform contains a lot of irregularities

The Verdict!

As a conclusion, this 'Is Silver Token Legit?' article arrives at a resounding yes for an answer. Foremost, they have a unique way in offering investors a chance to use their assets efficiently.

Not only that, they are trying out a new of investing. In most cases, business or companies that try new methods find it very hard to stay afloat. But, Silver Token is still in the industry after almost 5 years.

Next, they offer educational resources such as blogs and videos to further their campaign about silver investing. Interestingly, their methods of explanation are convincing and easy to follow.

However, there are still some weaknesses that Silver Token needs to address. For one, they still have no relevant reviews and ratings. That is why, a major innovation is needed to up their online presence. 

Plus, their product and services offering is very limited. Other big firms such as Augusta Precious Metals have self-directed IRA services as well as precious metals offerings.

As usual, I extend my thanks and appreciation to you for reading this 'Is Silver Token Legit?' article of mine. For any comments and suggestions, do leave them in the appropriate section below.

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