Although business accounts have only recently been introduced with the version 1.5 of the app(available soon on the website), professionals have been working with the company VeraCash for some years now and accept payment in precious metals. Who are they and what changed with the introduction of gold into their cash flow?
Gold as a safe haven for ABW traductions
ABW traductions, a quick overview
With some 15 years experience as a translation agency, ABW traductions offers its services in more than 50 languages for all types of documents: medical, commercial, official, etc. With a constant concern for the subtleties of each language and culture, the ABW traductions team is made up of experienced translators who only work in their native language to avoid clumsy phrasing or any inaccuracy in interpretation.
ABW traductions stands out from other translation agencies through the quality of its work and its exclusivity. When any language request is launched, the customer’s work is handled by a single translator thus ensuring the consistency of language and style throughout the project. From initial contact to final delivery, including any page layout required, the documents to be translated remain in the same hands for constancy and discretion.
ABW traductions and the arrival of gold in its cash flow
In 2007, the manager of ABW foresaw the arrival of the economic crisis and, concerned about the effect this could have on his business, invested in a small quantity of gold in the form of coins, in order to ensure a rapid conversion to cash if necessary. His concern was indeed justified since, a few months later, the 2008 financial crisis had dramatic repercussions around the globe. Companies that rely on equity financing are the first affected when a crisis such as this occurs: the budgets allocated to translation, advertising, international development and communication are dramatically reduced or simply stopped, until the situation improves.
This was the case for ABW traductions that lost three major customers with whom they were working on export development projects for new cars. The company suffered collateral damage as translation work ceased but fixed costs still had to be paid. Being able to resell the gold purchased a year earlier enabled the company to survive this particularly difficult period, notably thanks to the increased value of the coins. Four months later, business returned to normal.
What were the advantages of gold?
Gold strengthened the resilience of ABW traductions’ cash flow, since in times of crisis (notably when currencies – and especially the dollar – lose value) the price of gold tends to rise exponentially. As a result, should an urgent need for cash arise, the precious metals can be sold in the currency required. In other words, they represent a secure financial safe haven, should a recession arrive.
A word of advice from ABW
Invest a small percentage of your liquid assets in gold to strengthen resilience: but gold should never become your core business, only a sideline!
If you would like to work with ABW traductions simply send VRC to the username OMOWADOH to pay your invoice.
VRC and its simplicity of use for EMD2 Design
Who is behind EMD2 Design?
EMD2 Design is a person: Eric Maillard. A professional graphic designer, he has worked as a freelancer for over 12 years, specialising in the design and production of advertising material, both internet-based and print format: brochures, leaflets, small websites, magazine and digital adverts, posters, etc.
Based in Montreal, Eric works with many clients, including AuCOFFRE, the VeraCash parent company, and is the designer behind the VeraValor coins. He also created the VeraCash logo, as you see it today.
A simple alternative to diversify and protect his capital
Since Eric has worked with the VeraCash company, he has accepted part payment in VeraCash (in other words in precious metals). His choice is explained by a certain curiosity about the product and the need to become familiar with it in order to gain a better understanding. In addition, being domiciled outside of Europe, there is a clear advantage for the designer to accept payments that avoid the usual banking and exchange rate complications and charges.
Eric’s use of his account and VeraCarte remain simple and represent a means of diversifying his wallet. In other words, his professional income in precious metals is used for personal purposes.
A word of advice from Eric, EMD2 Design
VRC, through its network of private individuals and professionals, encourages sharing values. Agreeing to be paid in VRC means, in addition to its other advantages, becoming part of a community and building loyalty. It also offers the benefit of a payment that is particularly simple and efficient, leaving more time to concentrate on my work as a designer rather than having to worry about the financial aspects!
If you would like to work with EMD2 Design, simply send VRC to the username IBODITYM in order to pay your invoice.