xChange Market Place transacts all business with its Crypto-Currency xBit. And, we indicate throughout our web sites and pages that xBit is backed by Gold or Gold-Backed. The following is our interpretation of this meaning. Both meanings are “interchangeable” for our purposes.
At the xChange sites, Gold-Backed / Backed by Gold refers specifically to xBit. This means that if a customer or vendor has xBit and wishes to trade it in for Gold, xChange will assist in this process through their corporate Affiliates. This option is conducted by our licensed Affiliates who will accept your xBit and ship to you the equivalent in Gold at market price. You will be responsible for all shipping, insurance, and handling fees associated with the transaction. Note, this option is only open for Customers and Vendors who hold the equivalent of at least 1 (one) ounce of Gold in xBit Crypto-Currency. If you have less than 1 (one) ounce this offer is NOT available to you.
Be aware, xChange has NO other definition of Gold-Backed / Backed by Gold.
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