Digital Gold Buy Gold backed on the Blockchain
Gold has always being a sought-after asset for investors and consumers alike; for investor it provides a means to grow their investment over time and serve as a store of wealth, for consumers, however, it provides one of the finest materials for making luxury items — from cars to wristwatches, jewelry, and other Veblen goods. These have served to further increase the demand for the precious metal.
Gold over the years has proved itself a worthy investment. Over the past ten years, it has appreciated in value by over 97% making it one of the most desired items for luxury goods collectors.
DISADVANTAGES OF GOLD
At the first part of this article, we can see many advantages of gold. Nevertheless, there are some disadvantages. So, what are gold disadvantages?
- Storage: Gold is physical; therefore, it is difficult to store safely and you need a good and secured place to store. Even if you can store, you have to store it with the anxious of robbery.
- Purchase or Sell: because it is physical, hence it is also inconvenient when you bring your gold to store every time you want to buy or sell gold. On the other hand, not every store is 100% honest with you because of their profit. For instance, they will not sell or buy real gold value that you have.
- Security: High storage of gold can be dangerous for you.
Investing in Gold
Gold has some significant disadvantages like its storage problem. If you invest into Gold you have to store your Gold somewhere, where it is protected and safe.
Another aspect is the thing that one can not travel with 100 kg of Gold in your bags.
There are different possibilities to invest in Gold:
Gold Certificates
Certain financial certificates reflect the gold price, but are not deposited with physical gold. If the issuer of the investment becomes insolvent, the investor is at risk of losses up to and including total loss.
ETCs
Exchange Traded Commodities (ETCs) are bonds that securitize the value of a certain amount of gold and often include a right to the physical delivery of that gold. There is also a risk of the issuer going bankrupt, because investors may then have to enforce their claims in court.
Gold shares
Investments in the shares of gold mine operators are also considered a form of investment in gold. However, not only the gold price is important for the price development, but also other factors such as the entrepreneurial skills of the respective operator and the overall development of the stock markets.
Digital Gold
This is the reason why Digital Gold came up with its Gold-token. Each Gold token is backed up by 1 ounze of 1 Gramm Gold — 99,99% Gold.
Each GOLD token is 100% covered by physical gold, which is kept in a secure vault.
The Gold. storage website allows the GOLD token holders that an unlimited amount of GOLD can be bought/exchanged immediately and at any time on their website this means GOLD token can be sold at any time.
Advantages
First you do not need to worry where to store your gold if you have larger amounts of gold ounzes. Your storage costs and service costs, compared to the cost of storing gold at a bank, are significantly lower.
Secondly, it solves the problem of travelling with gold — Basically, you just need to have your private key with you.
The GOLD-Token is an ERC20 token which menas it is based on the Ethereum blockchain. Therefore you only need the private key for your eth wallet in order to access you gold.
Lastly, in case you need your Gold in physical form you can get back to the gold. storage website and trade your tokens for physical gold at any given time.
Where can you get GOLD- tokens
Digital Gold is now listed on BitForex, Livecoin, Cryptex exchange.
Gold token ensures asset safety as it is backed by tangible gold and has the potentials of bringing more investors into the gold market, since security concerns are no longer there. A good majority of people who invest in gold do not prefer to store it in their homes because it is very risky to do so.
Digital gold platform offers a repository where stored gold can be safe-kept in a vault and tokens is given to investors. The digital gold is so secured in a way that it can not be hacked because it uses the blockchain technology. Additionally, investors gain because increase in value of the gold reflects immediately on the token that they hold. A very dynamic smart contracts on the platform marries each token purchased by 1 gram of 99.9% pure gold. This is the focal point of Digital Gold platform.
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Digital Gold, the first cryptocurrency backed by gold
If we talk about companies dedicated to the flow and management of cryptocurrency, it is necessary to take into account the platform and the project in general of Digital Gold, which was born to solve the need for a cryptocurrency that can be held in cash and not only as money. electronic, so that it has the revolutionary advantages of cryptomoney technology, compared to the national currencies in common use (called Fiat). But it is also backed by gold, something that is undoubtedly innovative in the modern market. In fact it is the first in the world. In this way we see how Golden Currency breaks those current standards and goes back to the past in search of a better way to reinforce the value of its users’ capital.
All the features of Digital Gold work based on the blockchain system, in such a way that it has an important advantage in many aspects of the project’s conception, of which the security against theft in our digital wallets and in exchanges through the use of the famous smart contracts. Thus, the Golden Currency platform uses blockchain to create a well-structured and articulated network that manages to unite the advantages of cryptocurrencies (adding the ease of using it like cash) such as transfers or electronic payments through a digital wallet with all the basic structures found in the global economy, such as banks, gold-backed currency, ATMs, and the use of credit or debit cards, including the ability to use points of sale.
One last piece of information that is interesting about the possibilities that Digital Gold offers within its cryptocurrency and that is related to the above, is the possibility of enjoying a type of money that will not suffer from inflation and that can be generated due to poor management. What national governments do when printing money at all times (such as the US dollar) can cause daily inflation of up to 98%. In some countries it has even exceeded that percentage, acting as a true hyperinflation that devours the value of people’s money. It is because of this that Digital Gold seeks to carry out a project where its members can truly enjoy all their riches in the form of a token typical of the times in which we live.
Website : https://gold.storage/en/home
Twitter: https://twitter.com/gold_erc20
Ann: https://bitcointalk.org/index.php?topic=5161544
Whitepaper: https://gold.storage/wp/White_paper_en.pdf
Telegram: https://t.me/digitalgoldcoin
Reddit: https://www.reddit.com/r/golderc20
Forum Username: chinawalltoko
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=839641
Telegram Username: @Anokieyes
ETH Wallet Address: 0x17E6C081d832B9c6eDE9097dEA11262E3802077B