Wealth99 Rated And Reviewed

Wealth99 is one of a number of companies offering investment in blockchain-based assets like cryptocurrencies. However, it has a couple of interesting differences that we’ll cover in this review.

Wealth99 is in what it calls the ‘new wealth’ business.

This means that it offers people alternative assets – that is, assets outside the traditional investment options like shares and bonds. Due to inflation, the pandemic, and ongoing global uncertainty, traditional investment options haven’t been delivering very attractive returns over the past few years. This makes it unsurprising that more and more people are open to the idea of putting their money elsewhere, and diversifying a portion of their portfolio into alternative assets.

Wealth99 hangs its hat on blockchain-based investment options, and currently offers a selection of tokenized precious metals (gold, silver, platinum, and a small range of the highest market cap cryptocurrencies (Bitcoin, Eth, Cardano etc). However, they expect to offer more options in the near future, hinting that tokenized carbon credits and tokenized commercial property will be added to their future asset menu. 

General Overview

Wealth99 Pros

• Wealth99 is a simple way to diversify an investment portfolio with alternative assets
• It’s an opportunity to get in early on the upcoming tokenized assets boom
• It offers a low-cost way to invest in gold, silver, and platinum via Wealth99 Precious Metals Tokens
• Wealth99 has its own ‘in platform’ tokenized assets exchange

Wealth99 Cons

• There is still only a limited range of tokenized investment options (although the company assures that will change)
• Wealth99 is currently operating only in Australia and the UK, meaning investors in other countries have to look elsewhere.

Management Team

Rating: High

Since being established back in 2017, Wealth99 has focused on building its processes and executive team. Currently, it has a team of around 50 in total. The point to note here is that, unlike a lot of companies in the blockchain space, Wealth99 isn’t run by developers with no real-world business experience. In contrast, Wealth99 is led by business people who together have decades of experience in the finance and fintech industry. It also has its own in-house tech team, whose leaders have been working in crypto since 2012.

Product Range

Rating: Medium 

Tokenizing investment products is still a new business that’s restricted by securities legislation in every country. That means the range of legitimate tokenized investment options is still fairly limited. As such, Wealth99 has chosen to limit its current offering to tokenized precious metals and a collection of high-performing cryptocurrencies. Wealth99 has a lot of experience with tokenizing physical products (most notably its work in tokenizing precious metals). So it’s expected that once the last regulatory hurdles are overcome, the Wealth99 range will expand quickly.  

The number of cryptocurrencies offered by Wealth99 is currently just 15 or so, but they are all very large capitalisation coins. They have been chosen for their high liquidity (they trade in large daily volumes on global exchanges) and future potential (Wealth99 believes that real-world use cases are a good indicator of the value of a crypto).

Ease of use

Rating: High

Wealth99 has its own asset exchange. It was built to be easy to use for newbie crypto and tokenized asset investors. The interface is simple and intuitive, especially if you compare it to some of the other alternative asset trading platforms available. Buying and selling is basically a one-click operation. 

Signing up to use the exchange does take a little planning as there is a strict KYC and AML vetting process you need to follow, but that’s standard for the industry and is government mandated. As long as you have the right documents on hand, the process is fairly smooth and straightforward. 

Safety and Security

Rating: High

Only a small amount of assets are held on the Wealth99 exchange. 98% are stored in cold wallets with multiple keys, air-gapped from the internet, and insured by the global institutional custody provider Bitgo. As well all transactions must pass a rigorous authentication process.

Wealth99’s precious metal tokens are backed by the physical metal itself, which is vaulted and insured by a major international bullion house.

2FA is compulsory for logging into the exchange and users get an email alert for every login to ensure it’s actually them who are accessing the account.

​​Wealth99’s website traffic runs solely on encrypted SSL, and wallets and private keys are stored using AES-256 encryption. The security architecture is designed to stop any breaches affecting more than one wallet. Plus there are multiple segregated wallets, and each one is multi-signature with its keys secured offline by Bitgo. Wealth99 uses SQL injections to verify every POST, PUT and DELETE request to help prevent CSRF attacks.

Wealth99 –  Frequently Asked Questions

Summary

In this review of Wealth99 we covered many of the attributes investors may look for when selecting a company to buy and sell assets through. Overall Wealth99 seems to be a solid option. Having said that, you should always do your own research and due diligence before making any financial decisions, and reviews like this one are just a starting point.