Karat gold has earlier come out with an ICO for its karat gold coin is now listed on biggest ever exchange system that is CoinMarketCap frequently called as CMC. The karat gold coin, which is at the center of the offering, is a block chain based cryptocurrency that is linked to the certain amount of physical gold deposit in the form of Cash Gold. The big news is that karat gold has been listed on CoinMarketCap, the touchstone of success for cryptocurrency ventures. The fundraisers aim to rank KaratGold within 100 on CoinMarketCap. Since ranking on CoinMarketCap would depend on the user base and market capitalization of karat gold, the ICO has been launched. The idea is about presenting the karat gold ecosystem to investors as a generally accepted system of electronic payment. The ICO is available at www.KaratGold.io. The window period for the investment is from 22nd March 2018 to 21st April 2018. karat gold coins would be immediately distributed to the investors during the ICO.
Conceived as a gold standard crypto coin, the concept has been backed by a host of Silicon Valley venture capitalists. In fact, investors from over 120 countries have so far taken part in the ICO. The product, i.e Karat gold has been symbolized as KBC, and the venture has set a limit of 12 Billion KBCs. Among these, a maximum of 7.2 Billion is up for sale. The current price of KBC is $1.32 USD. The company aims to raise $72 million from this ICO which may be able to propel the karat gold ecosystem to the top 100 league of CoinMarketCap. The minimum purchase is 1000 coins. Investors can pay by Bitcoin, ETH and Karatpay payments.
Cryptocurrency is all the rage now. New cryptocurrency ventures are regularly coming out with ICOs. Yet, it may be premature to generalize the ICO market. There are some ventures that do seem to have enough steam to cover the uncertain period from conception to implementation. The Karat gold ICO seems to be one of them. It is already a success story because being listed on the CMC itself is an achievement for any cryptocurrency venture.
The vision
The fundraisers aim to make KBC a generally accepted electronic payment tool for both consumers and merchants. They aim to offer a safe, easy to use and private payment system that can propel the user base of karat gold ecosystem and enhance its market capitalization. Needless to say that higher the market capitalization of KaratGld, the higher are its chances of ranking better on CoinMarketCap.
The Magic of karat gold
As of now, the cryptocurrency market is highly volatile. All the cryptocurrencies are experiencing large intra-day swings in value. The reason for such wild swings can be partially ascribed to lack of benchmarking of the currency to a fixed asset like gold. In Fiat currencies, investors hardly experience such wild swings since they are benchmarked against gold. This is one of the reasons that cryptocurrency is not able to penetrate the general electronic payments system. Yet, fiat currencies themselves are losing their value. Though each of these currencies is pegged against a certain value of gold, they are diminishing in value day by day due to inflation and other factors. The consequence is the depreciating the value of currencies.
Karat gold has envisioned a scenario where a cryptocurrency, i.e KBC is pegged against gold and is available in the general electronic payments and receipts system. The benefits, as envisioned, can be immense.
Benefits of KBC
Bank independence
The KBC ecosystem is envisioned as an electronic payments system operating in a Blockchain-enabled platform. Like all cryptocurrency, KBC too is spread all over the network and is not dependent on the bank. Bank independence is a unique feature of cryptocurrency and that includes KBC.Predictable value and exchangeable
Each KBC coin represents a certain weight of gold. This gives a measure of confidence to users since the currency has got a predictable value depending on the value of gold. They call it crystalized gold, and you can exchange it for its value of gold at any time.Cost efficient transaction
People can use this coin for the borderless transaction without any taxes or levies. Thus they can experience cost efficient transaction.Crisis-proof
Geopolitical events around the world are not only destabilizing but are ominous for the value of fiat currencies. In fact, geopolitical events have intensified in the recent months and have transgressed into the domain of trade. Such strained political and trading relations may have serious repercussions on the value of fiat currencies. There may be catastrophic fluctuation or depreciation in the value of certain fiat currencies. However, KBC, being a cryptocurrency, is far away from being affected by these events. That shows that the currency that has been conceptualized is crisis-proof.
Karat gold is a blessing in disguise for all their investors
But for users to avail of all these benefits, they need to adopt the system. As more and more people adopt the system, the market capitalization of karat gold increases. This will certainly provide a boost to the higher ranking of karat gold ecosystem in CoinMarketCap. This can, in turn, give a boost to investor confidence in the karat gold ecosystem, the ultimate aim of the fundraisers. This is why this ICO is important for every potential investor who is waiting in the wings to latch on to winds of change in the cryptocurrency market and make it big. Also, karat gold promises their investors that, we will work hard to keep the moment up and being in the top 100 among the crypto listed on CMC is the next target for us.