Phi Wallet is a mobile application that enables users to buy, sell, and securely store 999.9 LBMA physical gold, utilizing blockchain technology for transparent transaction records. It addresses the need for accessible gold investment by allowing instant cash conversion and fractional ownership, ensuring users can safeguard their wealth against inflation and economic uncertainty.
Funding
$50K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional methods of investing in physical gold often involve high commissions, security concerns related to storage, and logistical challenges in buying, selling, and transporting gold. Many individuals lack a convenient and secure way to access and manage physical gold investments, especially in smaller, fractional amounts.
Solution
Phi Wallet is a mobile application that provides a secure and accessible platform for users to buy, sell, and store LBMA-certified 999.9 purity physical gold. Utilizing blockchain technology, Phi Wallet ensures transparent and tamper-resistant transaction records, offering users full ownership of their gold assets. The app allows for instant cash conversion, enabling users to quickly convert their gold holdings into cash and receive payments directly into their Phi account. Gold is securely stored in a state-of-the-art vault, and users can request physical delivery of their gold holdings for quantities of 20 grams or more.
Target Audience
The primary target audience includes individuals seeking a secure and accessible way to invest in physical gold as a hedge against inflation and economic uncertainty, particularly those interested in fractional ownership and the convenience of digital management.
Features
- Buy and sell LBMA-certified 999.9 purity physical gold
- Secure vault storage with independent third-party audits
- Instant cash conversion with direct payments to Phi account
- Fractional ownership with no minimum purchase requirements
- Blockchain-based transaction records for transparency and security
- Optional physical delivery of gold holdings (minimum 20 grams)
- Shariah-compliant investment options
- Multi-language support (English, Arabic, French, Indonesian, Portuguese, Spanish)
- Free storage for the first year, then 0.5% per year
- Ability to transfer gold and currency to other verified Phi Wallet users