Open A Wallet
Q: How do I open a wallet?
A: To open a wallet, go to https://ozgld.com/get-ozcoingold/ and watch the video or follow these steps:
- Click on any of the blue links that says “Get your Free wallet”.
- Enter your email address
- Enter your full name
- Enter a STRONG password. Record your password before you enter it and store it in a safe place. You can click the eye icon to the right of the password field to display the password in legible format.
- Click CREATE KEYSTORE. You have now created your wallet successfully
- Go to the wallet menu in the top right hand cornet of your wallet and Copy the mnemonic.
- Record this mnemonic in a safe place. This is very important. You cannot open your wallet on any other device or even browser without your password AND mnemonic. If you clear your browser history and cookies, you will also NOT be able to access your wallet again without your password AND mnemonic.
Q: How do I log in to my wallet? Only way I’m getting into my wallet is through get a wallet! How do I do a standard log in?
A: To access your wallet on the SAME browser AND device you opened it on simply go to the link https://app.ozgldwallet.com We recommend bookmarking it. You need to enter only your password if you access it from the same browser and device.
Q: How do I access my wallet from a different browser or device?
A: To access your wallet from a different browser or device:
- Access your wallet on the same browser and device on which you created it, then copy your mnemonic by going to the top right menu and clicking copy mnemonic (you will have to enter your password again.)
- Once you have your mnemonic, you can open your wallet on a different browser or device. Go to the URL https://app.ozgldwallet.com and enter your email, name, password, and Mnemonic.
- This will give you access to your wallet on the new device.
Q: Seeing that ether can be used to buy OzGLD can OzGLD be converted back to eth at any given time?
A: We are working tirelessly to enable this. Once OzGLD has been registered on exchanges this will be possible.
Q: Can I buy OzGLD from my wallet?
A: Yes, you can buy OzGLD from your wallet, but only with Ether.
Q: How can I use all the Ether in my wallet to buy OzGLD with?
A: You can buy OzGLD with all your Ether in your wallet and still keep enough Ether for the blockchain transaction. To do this just click SPEND ALL ETH. When the amount field populates, click BUY OZGLD. You can enter your password and the transaction will be processed.
Q: Am I able to buy OzGLD with USD?
I have a wallet and have purchased with ETH,
and would like to buy with an ACH transfer from my bank or a credit/debit card.
Is this possible at this time?
A: Unfortunately, credit and debit card compatibility is not yet enabled, however, we do allow for a direct deposit (wire transfer) into our escrow account. Please click the link https://ozgld.com/get-ozcoingold/ and go down to the second (2nd) option on how to purchase OzGLD and follow the steps to purchase OzGLD with USD via direct Deposit.
Q: I am interested in your tokens but have a few questions that I did not see answered directly on your website. Price of the token: You state to have 100.000 oz of gold backing the token (with $1200 oz price, your value is $120M ?). Given that each oz backs 100 tokens, this means there are 10M individual tokens in total? Will new ones be created over time?
A: No the total number of coins are limited to the 100,00oz of gold. No more or less than 10 million coins will ever be minted for the 100,000 ounces of gold.
Q: The price right now per token is $12 USD, correct? Will the price per token be congruent with moving of the gold price always?
A: OzGLD is not simply a digital representation of gold, and it is congruent with the price of gold in one sense but it is not FIXED to the price of gold. This means that if the gold price increases so does OzGLD, BUT OzGLD can also increase in price from Market premiums (like Bitcoin). This means if the price of gold drops, this doesn’t mean OzGLD must drop too. In other words, OzGLD benefits from all the usual benefits of cryptocurrencies, but there are additional benefits that backing it with gold provides. E.G. Avoiding the significant market volatility, the ability to liquidate into tangible value (gold bullion) etc.
Q: Will your physical gold reserve be expanded or diminished in the future?
A: Ozcoin Inc already has security over the 100,000 ounces of gold. This security is only applicable to the 10 million OzGLDs, no more and no less. So the gold reserve can never be reduced. We do however have future possibilities of attaining security over more gold, and thereby creating more coins. But for now, we are only circulating the equivalent of 100,000 ounces of gold. Also, there will never be more or less gold reserve than OzGLD coin value in circulation.