The world of cryptocurrency investment is often a maze. You have many products, each promising to be "the one" real investment for you. But how does one separate the jewel from the dross? Looking beyond the elaborate marketing helps identify the genuine products from the fairy tales. Genuineness and value of an opportunity go beyond mere advertising. It is demonstrable.
The volatility in this space further compounds the predicament mentioned above. Whereas cryptocurrencies can appreciate very fast, the opposite is also true. This uncertainty has seen a proliferation of stablecoins. Even here, there is differentiation. You have your standard stablecoins and a rare group of superior coins that offer much more than security to the investor. The GSX coin is one of the coins that is making ripples across the crypto world.
What Makes GSX an Ubercoin?
Uber denotes uniqueness, a distinction from the rest. This character is discernible; it has the goods to show for its claims. GSX's unique traits make it the best stablecoin to bet on in 2020 and beyond.
GSX stands for Gold Secured Currency. As the name lets on, it is a stablecoin.) that derives its security in gold. Apollo Fintech, the parent company, has ownership rights to 3,700 acres of gold-rich land in Zimbabwe. It intends to venture into gold production with a portion of the gold mined used to shore up the coin's value. The company will continue to increase its stock of gold, backing the currency with revenues from its other businesses.
In GSX, Apollo is offering holders the best of crypto by backing it so that it is stable while facilitating growth in value. It also has attractive incentives to the holder. These, among other aspects, make it the standout currency this year.
Uber Qualities Of GSX
GSX's superior qualities make it the tower above the others in the market. These features include the following:
- Strong backing
A coin's stability is as strong as the backing behind it. As explained earlier, gold and gold-rich land will back the currency. It is instructive to note that gold is the primary guaranteeing commodity for the coin. Gold is a durable metal whose value has increased through time. The same characteristics will pass on to the GSX coin.
Apollo commits setting aside 50% of all the gold it mines, after deducting costs to back GSX. Additionally, the land containing the gold will provide extra security for the coin. Further investments in it in the form of gold will come from fees paid to Apollo from other engagements. In essence, the backing of the currency in solid gold will grow with time.
Moreover, Apollo will form a company to mine the gold used in backing GSX. This company's infrastructure is additional security for GSX. All these combine to give the coin firm backing.
- Increasing value
In keeping with its uber qualities, GSX's value will keep on appreciating. The rise in value emanates from the increase in value in the gold and land backing it. Gold has consistently increased in value. Projections show that this trend will hold for an indeterminate future. The gold-rich land will also appreciate the infrastructural developments put up by Apollo to ease the mining process. The increased value of the assets backing the coin will automatically transfer to it too.
- Rich in Incentives
Holders of the GSX coin automatically become legal owners of the gold mining company that Apollo will create. Consequently, they are entitled to a share of the profits that the company makes. This dividend aid annually will be in the form of either Apollo Cash or GSX coin. It will be prorated based on the amount of GSX held. Similarly, should the company dispose of any of its assets, GSX holders will have a claim to the proceeds of such a sale. Also, the holder can redeem GSX for its value in gold.
- Independent Audit
Big talk counts for nothing if it doesn't have the goods to show for it. Apollo Fintech understands this and doesn't want you to take its word blindly. To back up its claims of securing GSX by gold, it will do an independent geological audit of the gold deposits at its mining lands. This audit will be open to all interested parties and shared via its blockchain. As such, investors are sure that whatever they're investing in is real. Secondly, the company will undertake periodic open audits of the stock of gold backing GSX to shed light on its value. Again this will be relayed to them via the Apollo Blockchain.
- Supporting infrastructure
A robust infrastructure underpins GSX, hosted by Apollo Blockchain. The blockchain is immutable and hence incorruptible. In this way, it guarantees the security of all transactions taking place on it. Chief in the blockchain's features is Quantum resistance and Database Sharding capabilities. These two functions are the fastest, indefinitely scalable, and most secure blockchain to transact on.
Additionally, holders of the coin will have access to Apollo Knox Exchange. Knox is a revolutionary exchange set to replace Bitcoin's Lightning network. Boasting of Sub-second transaction capabilities, will provide users a safe and superfast means of trading their coins.
Endnote
The crypto market has seen an increase in the number of stablecoins available. Most of these have fundamental functionality. Apart from the stability they offer, there isn't much to write home about them. On the other hand, you have a set of coins that go beyond this basic functionality. These are the ubercoins. They have rich additions to them, making them worthwhile investments. At the top of these ubercoins is GSX from Apollo Fintech. The unique business concept underpinning it places it a cut above the rest in the field. For the astute investor, this is the coin to put one's money on.
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Christophe WILHELM
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Source: GSX & Apollo Fintech
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