GemCoin by USFIA, Inc. Review

GemCoin is a new digital currency distributed by USFIA, Inc. GemCoin, as the name suggests, is backed by the value of real gems. Is GemCoin really the world’s next BitCoin?

Find out today in our USFIA, Inc. GemCoin review.

What is GemCoin?

GemCoin is a digital currency distributed and managed by a company named USFIA, Inc. USFIA stands for United States Fine Investment Arts.

USFIA was reportedly founded by the “US China Consultation Association.” The company specializes in gem mining and processing and is currently headquartered in Los Angeles, California.

USFIA reportedly owns several large gem mines throughout the world, including amber mines, a Blue Larimar mine, and a Rhodochrosite mine in Dominica and Argentina. The company takes gems from these mines and manufactures them into jewelry at a store in Los Angeles.

That company decided to create a virtual currency backed by gems. That currency is backed by the price of amber sold by USFIA, Inc. all over the world. For every $80,000 of amber sold by USFIA, Inc., the value of GemCoin will increase by $0.0001.

According to the manufacturer of GemCoin, this makes the currency inflation-proof:

“If you own 1 GemCoin at $0.1257, this value will never be less than what you paid for.”

Ultimately, this currency is backed by amber. If amber continues to go up in price, then the price of GemCoins will also rise.

GemCoin claims it’s the world’s first digital currency backed by intrinsic value. However, that title actually belongs to UFUN’s uToken, which introduced a similar currency last year. That currency is backed by gold reserves held by a private bank.

In any case, USFIA claims that there are 20 million members of the GemCoin network who are “already trading and distributing” the virtual currency. The company also claims to maintain 3,000 offices and financial centers around the world.

How to Buy GemCoin

You can buy GemCoin today and double your investment. According to the manufacturer, they’re offering a “double GemCoin” promotion. This promotion will double your initial GemCoin investment. So for every $1 of GemCoin you buy, the company will give you twice as much of the currency.

You buy GemCoins from official USFIA, Inc. websites. You can also find GemCoin offers from affiliated retailers. When signing up to purchase GemCoins, you’ll need to provide the company with an astonishing amount of information, including your SSN, phone number, and Skype address (all of those fields are mandatory).

You can purchase GemCoins in the following denominations:

— $1,000
— $2,000
— $5,000
— $10,000
— $30,000

GemCoin is based on a network marketing structure. When you buy GemCoins through someone, they’ll receive a large chunk of your commission. Once you own GemCoins, you can make money yourself by selling GemCoins to other people.

One of the interesting parts about GemCoin is that you actually own part of the intrinsic value of the currency. USFIA, Inc. claims that all buyers “receive certified authentic amber equivalent to the value of your investment.” That’s right: you get a semi-precious gem along with your digital currency.

Who Should Buy GemCoins?

If you look around the internet, you’ll find plenty of poorly-worded reviews espousing the benefits of GemCoins. Some reviewers aren’t just calling GemCoin the next BitCoin: they say that it could replace gold as a safe haven.

That’s unlikely to happen. Since GemCoin was just introduced in late 2014, it’s too early to say where this currency is going.

There are other serious problems with this currency, like the fact that it asks for your Social Security Number (SSN) when purchasing the currency. USFIA, Inc. also claims to operate thousands of financial offices around the world, multiple precious gem mines, and a flagship jewelry store in Los Angeles – although no evidence of any of these things exists online.

For all of these reasons, it’s difficult to recommend USFIA, Inc. GemCoins at this point in time.