When buying synthetic gold you are exposed to the same price fluctuations as physical gold and gold contract holders. It is just one of the ways to purchase gold without a broker’s help — through tokens.
-Synthetic assets allow for a wide range of applications! For example:
-Financial speculation — you can bet on price going up or down
-Stablecoins — synthetic fiat is an interesting alternative to the current stablecoin market
-Hedging — insurance against volatile price movement against your positions
-Stocks and commodities — you gain access to the gold, silver and the stock market without leaving the convenience of the cryptocurrency space. All synths are tokenized, so they can be used in different DeFi protocols, as collateral, for example.
As you can see, there are a lot of opportunities to be had! Symblox lets you access all of it!
