Gold is an asset which has not depreciate for some time, the rate of purchasing power is always going higher than the available mined gold. Right from the onset, gold is one of the precious metals with a high value, and it is still commanding that respect up till date.
There is need to digitalize the gold because the world has revolutionized from industrial era to a digital era. The digitalization of gold am talking about is to tokenize the gold ecosystem. This ideology gave birth to Digital Gold.
Digital Gold is a blockchain based platform that introduce a digital token to represent the physical gold. Digital Gold came up with such an idea to create a system where people can buy, store or sell their token assets. Digital Gold want to create a marketplace for people to transact, buy and sell gold. This platform therefore launched a cryptocurrency token called GOLD; a token designed to be stablecoin. The stablecoin GOLD is fully backed with physical gold. There are many other stablecoin in the crypto space but known of them are back by anything, and that is why their value and price fluctuate. But this platform GOLD is termed 'stablecoin' because it has a stable price. The price of GOLD stablecoin is equivalent to the price of a gram of 99% of pure gold.
WHY GOLD TOKEN
The gold investors must have encountered some challenges facing fiats e.g inflation when they invest in physical gold. This type of scenario has bankrupt many of the investors and have no means of retrieving it. Again for cryptocurrency investors, there is always issue accredited to price volatility; the cryptocurrency price in the market is unstable. But the GOLD stablecoin have hedge over fiats and unstable cryptocurrency. The GOLD is a stable token that its price does not swing either if there is inflation or volatility. The GOLD has a stable price that is aligned with the price of physical gold in the market. Through the gold market launched by Digital Gold platform, investors can instantaneously buy, sell and transfer the assets into their portfolio.
ADVANTAGES OF GOLD TOKEN
Investing on GOLD token that represents gold, you will enjoy the following:
You can buy physical gold with GOLD without paying any charges fees.
You can store your gold with a lower fees
No paperwork before you could buy or sell gold
DIGITAL GOLD PARTNERSHIP WITH CHUBB INSURANCE
You might have been investing on gold all these while without any insurance covering it. Digital Gold platform has partnered with Chubb Insurance firm (world's largest insurance company) to insured the gold assets bought through this platform. The Chubb Insurance firm will cover up any unforeseen risk which might happen to your investment. The Digital Gold platform will be responsible to replace any value of gold asset lost because everything is being insured with Chubb Insurance Company.
HOW CAN YOU STORE YOUR PHYSICAL GOLD THROUGH DIGITAL GOLD PLATFORM?
The physical gold can be stored anywhere but storing at home is very risky because of thieves. So it is advisable to store gold in a vault. The Digital Gold is in partnership with BullionStar to provide storage services to the gold owned by the users of Digital Gold. BullionStar vault that can store most precious metals like gold and they have been in the business for a long time now. BullionStar is a known gold storage platform with a license to operate nationwide. Users of Digital Gold platform can buy gold with GOLD stablecoin and store it in BullionStar vault. The users of Digital Gold does not pay charges for storing their physical gold, rather Digital Gold is responsible for it. Digital Gold chose to partner with BullionStar because they have been tipped to be the most reliable and transparent platform that offer storage services to physical gold by storing it on their secured vault.
HOW TO STORE YOUR GOLD STABLECOIN
Remember I said GOLD stablecoin is an ethereum based token. So the holders can store it in any wallet that is compatible with ethereum (Erc-20) standard. Though the Digital Gold platform are working to build a wallet which we can store our GOLD stablecoin but it is under construction now. The other few available wallet to store GOLD I can recommend to us are:
MyEtherWallet Web
https://www.myetherwallet.com
MetaMask Browser Extension
https://metamask.io
Ledger Nano S Hardware Wallet
https://www.ledgerwallet.com
GuardaMobileDesktopDesktop
https://guarda.co
Trezor Hardware Wallet
https://trezor.io
NOTE: Don't use Exchange wallet for storing GOLD stablecoin except it is otherwise stated and it is also in support of it.
EXCHANGE TO TRADE GOLD TOKEN
Digital Gold Marketplace
Trading of GOLD stablecoin become easy with the help of the marketplace launched by Digital Gold. In this marketplace, users can buy and sell the GOLD instantaneously. Investors can buy any quantity of GOLD token depends on your budget without limitation. Currently at the marketplace, the GOLD token has a pair with Bitcoin and Ethereum. This means we can buy GOLD token with either Bitcoin or Ethereum; again we can sell our GOLD token in exchange for Bitcoin or Ethereum there. The marketplace is easy to use, it has a very high interface and very friendly to the users.
Cryptex Cryptocurrency Exchange
Cryptex just partner with Digital Gold and list the GOLD token in their exchange for trading. The users can login to the exchange to buy and sell GOLD at the exchange. Currently at Cryptex exchange, the GOLD token was paired with USD i.e GOLD/USD
The transaction fees for all these exchange is less than 0.02% and their system is very fast.
CONCLUSION
If you are searching for the simplest way to buy bars of physical gold, GOLD token is just the solution. The price of GOLD token is peg with the real price of 1 gram of the real physical gold in the market. Digital Gold platform is the only measure and transparent ways to invest in gold. Remember you are not just buying cryptocurrency, but you are investing in a stable digital assets. Investing on digital GOLD token will make your investment have hedge over inflation and other financial crisis which affects investment.
Get to know more about this project by visiting all the link below;
Website : https://gold.storage
Medium : https://medium.com/@digitalgoldcoin
Telegram : https://t.me/digitalgoldcoin
Twitter : https://twitter.com/gold_erc20
BitcoinTalk ANN : https://bitcointalk.org/index.php?topic=5161544.0
Writer's Username: Bunmilove
Bitcointalk Profile link : https://bitcointalk.org/index.php?action=profile;u=2357710