FAQ's
Most Frequent Answers and Questions
The Sound Money Economy is a marketplace and movement connecting businesses and buyers to transact using alternative assets like gold, silver, and cryptocurrencies. It empowers individuals to trade with secure, inflation-resistant currencies while supporting a decentralized and practical economy.
Sound money refers to a stable asset that holds its value over time, typically backed by tangibles like gold or silver, and more recently, cryptocurrency.
The directory helps buyers and sellers find businesses that accept alternative assets. Simply search by location, asset type, or industry to connect with others who value sound money in trade.
To use gold or silver in a transaction, both the buyer and seller must agree on the value of the metals at the time of the exchange, based on current market prices. Here’s how it works:
- Agree on a Price: Both parties should decide the value of the goods or services in terms of gold or silver.
- Weigh the Metals: Use bullion bars or coins, ensuring their weight and purity are verified. The most common forms are government-minted coins (e.g., American Eagles, Canadian Maple Leafs) or privately minted.
- Complete the Exchange: Once the agreed amount of gold or silver is determined, physically transfer the metals or use a secure third-party service (e.g., bullion dealers or vault services) to facilitate the transaction.
- Optional Receipts: Keep records of the transaction for both legal and tax purposes.
The Sound Money Economy provides a platform for businesses and individuals who accept gold or silver, making it easier to connect with others who use precious metals for trade.
Using cryptocurrency in a transaction is a secure and simple process, thanks to blockchain technology. Here’s how to do it:
- Agree on a Price: The buyer and seller should agree on the price of the goods or services in terms of a specific cryptocurrency (e.g., Bitcoin, Ethereum) based on its current market value.
- Exchange Wallet Addresses: The seller provides their cryptocurrency wallet address (a unique string of characters) to the buyer.
- Transfer the Funds: The buyer initiates the transaction by sending the agreed amount of cryptocurrency from their wallet to the seller’s wallet. Transactions are typically verified and recorded on the blockchain within minutes.
- Confirm Receipt: The seller confirms the payment in their wallet, and the transaction is complete.
For added convenience, the Sound Money Economy connects buyers and sellers who accept cryptocurrencies, making it easier to find and transact with others using digital assets.
Security is paramount for us. Our site is hosted with a trusted provider known for robust privacy protections, eco-friendly practices, and a strong commitment to data security. Located in a jurisdiction with strict privacy and freedom of speech laws, the infrastructure ensures a secure environment for our users. All transactions are supported by modern encryption and secure communication methods to provide a seamless and secure experience.
Accepting alternative assets opens up new income streams, attracts a growing base of sound money enthusiasts, and provides a hedge against inflation. It’s a forward-thinking way to participate in a more stable and decentralized economy.
Gold and silver bullion are historically proven stores of value. Using these assets for transactions ensures your wealth is preserved. Within the Sound Money Economy, you can list items or businesses that accept gold or silver as payment.
Bitcoin and other cryptocurrencies are decentralized digital currencies allowing secure, peer-to-peer transactions. In the Sound Money Economy, you can find businesses and individuals using cryptocurrencies to buy or sell goods and services.
- Stability: Using alternative assets shields you from the devaluation of fiat currency.
- Economic independence: You store your wealth.
- Diversification: Using multiple trading assets (gold, silver, Bitcoin, etc.) reduces risk.
Community: You join a growing network of like-minded individuals excited about crypto currency and other various assets.
- Volatility: Cryptocurrencies can be subject to price swings, which may affect transaction values.
- Adoption challenges: Not all merchants or buyers accept alternative currencies yet, limiting where you can spend.
Learning curve: There’s a need to understand how to handle and store cryptocurrencies securely.
Simply register on the Sound Money Economy website with your name and email. After verifying your email, you’ll receive a discount code for 80% off listings. You can then choose between the Classified Directory (for individual item sales) or the Business Directory (For businesses that want to accept alternative currencies).
Once registered, you can log in and list items or services in the appropriate directory, specifying which alternative assets (gold, silver, Bitcoin, etc.) you accept as payment. Buyers can then contact you and complete the transaction using the asset you’ve chosen.
Any business, other than those listed below, that is willing to accept alternative currencies can join the Business Directory. This includes everything from retail stores and service providers to online businesses and individual sellers.
Any business that violates local, national, or international laws would be considered illegal on a Sound Money Directory site. This includes businesses involved in:
- Illegal Goods and Services: Selling products or services that are illegal under U.S. federal law or other applicable jurisdictions, such as:
- Drugs (including controlled substances)
- Weapons and explosives (if unregulated or unlicensed)
- Human trafficking, prostitution, or other forms of illegal labor
- Counterfeit goods or intellectual property violations
- Wildlife trafficking or trading in endangered species
- Pirated software, music, or media
- Fraudulent Activities: Any business engaging in fraudulent schemes, such as Ponzi schemes, pyramid schemes, or unregistered investment opportunities.
- Money Laundering: Businesses used to conceal the origins of illegally obtained money, particularly through cryptocurrencies, would violate anti-money laundering (AML) regulations.
- Terrorist Financing: Any business linked to the financing of terrorist activities would be strictly illegal and subject to legal penalties.
- Unlicensed Financial Services: Offering financial services without proper licensing, including currency exchange, loans, or securities trading, could be illegal depending on the jurisdiction.
The Sound Money Economy platform complies with all applicable laws, and any business involved in illegal activities would not be allowed to participate. The platform’s goal is to promote legitimate businesses that use alternative assets like gold, silver, and cryptocurrencies in accordance with the law.
Yes, as long as you follow best practices, such as using secure wallets and safeguarding your private keys. Cryptocurrencies are decentralized and encrypted, making them secure for transactions, but it’s important to understand how to manage them properly.
Absolutely! You can choose to accept any or all alternative assets—gold, silver, Bitcoin, or other cryptocurrencies—depending on your preferences. This flexibility allows you to cater to a wider range of buyers.
The Sound Money Directory connects users who trade in gold, silver, and a variety of cryptocurrencies. The platform aims to support additional sound money options as the movement grows.
Absolutely! We provide educational resources to help newcomers understand how to trade with these assets. Our guides cover everything from the basics of each asset to how to convert them into goods or services, making it accessible for everyone.
Trading with gold, silver, or cryptocurrencies can open up new revenue streams for businesses, reduce transaction fees compared to traditional payment methods, and protect against inflation. It also attracts a unique customer base that values financial independence and privacy, potentially leading to increased customer loyalty and a broader market reach.
Yes, you can still join! The Sound Money Economy welcomes both experienced users and beginners. If you’re new to cryptocurrencies, you can start by accepting traditional alternative assets like gold or silver, and gradually learn how to integrate digital currencies into your transactions. A primary objective of Sound Money Economy is to help those who are not familiar with using alternative assets have a starting place until these types of trades are normalized.
Yes, it is legal to use alternative assets such as gold, silver, and cryptocurrencies for private transactions. However, these assets are not considered “legal tender” under U.S. federal law, meaning they are not officially recognized as currency for settling debts. Instead, they are classified as assets or property for tax purposes.
The U.S. government allows private parties to agree on any form of payment, as long as both parties consent to the terms. According to the Coinage Act of 1965 (31 U.S.C. § 5103), only U.S. dollars are considered legal tender for public debts, taxes, and payments to government entities. However, private contracts can lawfully specify other forms of payment, such as gold, silver, or cryptocurrencies, as long as they comply with relevant tax and reporting laws.
We avoid calling alternative assets “currency” because, legally, they are treated as property, and any gains from their use in transactions may be subject to capital gains tax, depending on the jurisdiction. It’s important to stay informed about your local regulations and consult a tax professional if needed.
By understanding the legal framework, participants in the Sound Money Economy can safely and confidently use alternative assets for transactions.