Commodity Conversion
A simple, unified transaction experience that enables direct conversion between gold and silver assets in the Goldtag App. Assets are managed in a single transaction, with no need for separate sell and buy steps.
What Is Commodity Conversion?
Commodity Conversion is the feature that lets a silver balance be converted into gold, or a gold balance into silver, in the Goldtag App. Users set the conversion direction and amount, and view the estimated amount of the commodity they will receive before the transaction.
This helps users who want to change their gold and silver allocation complete their transactions through a simpler, clearer flow.
How Does It Work?
The process starts with choosing the conversion direction. The user specifies whether to convert from silver to gold or from gold to silver, enters the amount to convert, and views the resulting equivalent based on the current conversion rate.
The transaction summary screen shows the amount to be converted, the amount of the commodity to be received and the conversion rate together. Once the details are reviewed and the transaction is confirmed, the relevant amount is deducted from one asset balance and its equivalent is added to the other.
An Easier Switch Between Gold and Silver
Commodity Conversion removes the separate sell and re-buy steps when switching from silver to gold or from gold to silver. This lets users manage the allocation between their gold and silver balances more easily within a single transaction flow.
The conversion rate and the amounts resulting from the transaction are clearly displayed before the transaction is confirmed.
Goldtag reserves the right to make changes to the conversion scope, transaction terms, limits and other operational processes of the commodity conversion service.