When we talk of modern technology, blockchain technology and essentially cryptocurrencies play a very key role. People always wish they could find a realiable means to invest in cryptocurrencies but unfortunately the high volatility on the general crypto market usually scare people away. In the past weeks, I have been reading about a project which combines the advantages of stablecoin and as well as a means to own gold.
Digital Gold provides a means to invest in
in a gold standard token that is backed by physical gold. This process is very convenient for all potential customers.
For a long while, dealing in gold has always been associated with significant difficulties. It has been challenging for many individuals to buy and sell in official banks.
Likewise trading of physical gold on the stock market also comes with its own challenges for many individuals. Even with this method, people don't have the actual gold in hand. Hence should the exchange go bankrupt, a customer would then end up with nothing as a result of the bankruptcy.
It is possible to overcome these challenges through blockchain technology, Digital Gold as a blockchain based venture pegs each of its tokens with one gram of gold that is stored securely in a vault at Singapore. Hence, each token purchased is actually represented with physical gold and these are not mere tokens as in the case of most cryptocurrencies on the exchanges.
Again, Digital Gold ensures a high liquidity to its token markets by buying and selling the token at a price approximated to the price of gold in the vault, that allows all holders to actually trade gold and make a profit whenever the price of gold goes up. For anyone interested in gold and cryptocurrencies at the same time, I guess this is the best chance as there is even a comprehensive video on the website; https://gold.storage/ to make things easier.
Digital Gold as a stablecoin is not tied to any other currency but to gold, in this way, being a stablecoin, it ensures holders earn on long-term and short-term investment basis.
There are always a live feed online to know how many tokens are issued and the amount of gold in the vault. An independent audit agency are responsible to ensure this compliance.
ADVANTAGES OF DIGITAL GOLD OVER PHYSICAL GOLD
Below are some benefits of buying a digital Gold token as compared to the ordinary purchase of gold;
First and foremost, it is important to appreciate that all physical gold in the vault is fully secured and insured.
This insurance provides protection against all risks as one of the largest insurers in the precious metals segment Chubb Insurance are responsible for this. This is very important, as there are many risks that comes with individuals who personally store their gold. When stored at home, the risks include robberies and related assaults on the way to and from the Bank, and even when is stored at the Bank, there is always a limited access.
It is also an established criteria that the traditional methods of gold trading always require the provision of personal data and a number of rules that usually depends on the country involved. In contrast, GOLD provides the opportunity for individuals to own physical gold while remaining anonymous.
While making use of GOLD tokens, holders are not tied to the opening hours of banks and exchanges, which usually prevents the buying or selling gold at a favorable price or when there is a need to exchange for money in emergency situations. There is no need to physically bring gold to the dealer's office for sale. GOLD tokens always have a high liquidity due to the ability to buy, sell or exchange them at anytime of the day or 24/7.
CONCLUSION
Digital gold is a great venture for anyone in doubt whether to invest in gold or cryptocurrencies. This is a great opportunity to do both simultaneously without any stress.
For more details, visit the following useful links;
Website : https://gold.storage/
Marketplace: https://gold.storage/market
Whitepaper: https://gold.storage/wp.pdf
Twitter: https://twitter.com/gold_erc20
Facebook: https://www.facebook.com/golderc20
Telegram: https://t.me/digitalgoldcoin
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Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2511518