Digital Gold- A New Trend in the Cryptocurrency Market
Introduction
As the digitalization of the world proceeds, a medium of exchange that will enable the majority to progress to a digital age is vital, and this prompts the production of digital money called a cryptocurrency.
Cryptocurrencies are quickly gaining fame and adoption among various people in the world.
Freedom from theft, economic and political influence, loss of data security are one of its main advantages. Cryptocurrencies are also a convenient medium of exchange internationally and have enough anonymity to serve as a payment system for businesses and any economic activity.
What are Digital Gold and The Purpose of Creating it?
One of the newly created gold-backed cryptocurrency in the bitcoin age is Digital Gold. It is a stable coin that was created and operated by the Digital Gold LTD company. It is issued on blockchain and ethereum. Also, it complies with the ERC-20 standard.
The project is designed to facilitate the digitalization of the financial market. This goal can be achieved by enabling digital gold users to purchase gold token through the ERC-20 Ethereum-based with each coin equal to a gram of 99.9% fine gold.
The golds are securely stored in the company vault through a partnership with bullion stars, and this allows users to make secure financial transactions with color. They can also be saved as a digital asset.
What is a stable coin
A stable coin is known as cryptocurrencies that are backed by fiat money or exchange-traded commodities (just like Gold) to minimize the volatility of the currency. The main benefit of a backed cryptocurrency is that the value of the cryptocurrency is influenced by the price of the asset to which it is returned.
In the case of the GOLD token, it is backed by pure gold, which is the commodity that influences its price and stability. The cost of maintaining the security of the digital token is directly proportional to the cost of storing and protecting the gold backing the symbol.
The golds are safely stored in the Bullionstar vault storage with strong security. The token does not rely on government policy and the fiat money.
Digital Gold as a Safe and Stable Method to Store Financial Asset
It will be a bad idea for an investor to store digital assets with a cryptocurrency like Bitcoin because of it’s exceptionally high volatility.
The Digital Gold is unique when it comes to this aspect. Users can safely store their assets without the need to worry about price instability that is mostly associated with most societies.
Also, it automatically legalizes the ownership of Gold аѕ a store of wеаlth wіthоut thе added соmрlісаtіоn thаt соmеѕ wіth purchasing іt рhуѕісаllу.
The most exciting thing about this is that it all comes for free except for the сuѕtоmаrу Ethеrеum bаѕеd Gаѕ fee сhаrgе.
Conclusion
increase the physical gold integration into the cryptocurrency market. This integration made possible by the digital gold platform will improve our standard of living, bring the crypto market to the peak, and improve the world’s financial, industrial, and economic sectors. Also increasing the increasing participation in pure gold trading.
The Digital Gold platform has the resources to integrate pure gold into the cryptocurrency market. This will improve our way of life, bring the crypto market to the top, and improve the world’s budgetary, modern, and financial segments.
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