Question 1

What is KYC - "Know Your Customer" and why do I need it to buy a Diamond Standard Coin?

Accepted Answer

Know Your Customer (KYC) are a set of standards used within the investment and financial services industry to verify customers, their risk profiles, and financial profile. This information is used to combat money laundering and terrorist financing and is required under various legislation including the US Patriot act

Question 2

What is KYC - "Know Your Customer" and why do I need it to buy a Diamond Standard Coin?

Accepted Answer

In the US, the Financial Crimes Enforcement Network (FinCEN) established minimum KYC requirements, including verifying beneficial owners and setting standards for dealing with third parties

Question 3

Can I buy under a corporation or Trust?

Accepted Answer

Yes, though the process differs from individuals and requires other documents. Please reach out to amiller@diamondstandard.co for specifics of what is required

Question 4

How long is the KYC approval process?

Accepted Answer

For individuals, Corporations, and Trusts, KYC approval will be completed in a few days. The aforementioned timelines are if all information is accurately provided in the first instance, otherwise delays may be possible.

Question 5

Can I buy this in an IRA?

Accepted Answer

This depends on your IRA. Please email support@diamondstandard.co or reach out to your Account Executive if you require more assistance.

Question 6

How will I see the coins I purchase?

Accepted Answer

After your purchase is complete, you will see the status of your coins in your wallet. Upon completion of production, your coins will be available to you in your wallet.

Question 7

Can I take physical possession of the coin and is there tax involved?

Accepted Answer

Yes, you can take physical possession and this is subject to tax in the state you reside. No state tax will be collected if the coin is delivered to our custodian, Brinks, located in Delaware

Question 8

What type of Diamonds are used in the coin?

Accepted Answer

Every coin contains an optimized selection of natural diamonds between .18-.74 Carats, from D-L color, from Flawless to SI2 clarity.

Question 9

How do I know the Diamonds are Real?

Accepted Answer

Each diamond in each coin is GIA and/or IGI certified and has a corresponding certificate with its attributes allowing it to be independently verified

Question 10

Is there going to be an ETF?

Accepted Answer

We anticipate our ETF will be launched in Q1 2022 or Q2 2022 upon SEC approval. Stay updated with our news by subscribing to our newsletter.

Question 11

Where can I trade the coin

Accepted Answer

Currently, the coin can be traded via Uniswap or Anchorage over the counter. We have more options available coming soon.