Digital Gold Stable coin and its Benefits
So likely you will like to invest in some asset like gold,when you say gold is valuable and you may like to spend money on gold and wait,have you ever weighed the professionals and the cash
Pros
A lot of humans say gold is ,stable,a few say it’s precious and you can give it to somebody and the man or woman will simply admire you for giving them a present,how approximately the excessive liquidity for gold and the potential for high profitability
Cons
_Where can I purchase gold?
Is it certainly smooth to discover an area where you may buy gold?
Who will sell to me?
Unlike crypto currencies and different gadgets,there is simply no P2P marketplace for gold.
When can I purchase?
Can I buy gold at any factor in time, or are there time constraints on users?
Security? If I convey gold to my house,can I thoroughly keep it with out the fear of been robbed
Privacy? Can I maintain my privacy and still maintain my gold safe
Kyc ? The difficulty of filling a whole lot of documents,
Time and cost constraintsIt takes lots of time and cost to do that_
That triggered the digital gold challenge, it’s a mission that centres on how do we carry era to make the shopping and trading of gold very very seamless and to accomplish this the group went about using the blockchain era,
To someone who isn't always acquainted with blockchain technology,it’s the engine or era behind crypto currencies like bitcoin, ethereum, ripple XRP and a host of others
While crypto currencies are superb ,they nevertheless have some drawbacks
Pros of crypto currencies
Speed:** They may be speedy
Cross border: Transactions aren't stricken by borders and country boundaries.
Provide reasonably-priced transactions at almost the fraction of the value.
Profitable: making an investment in crypto currencies can from time to time be very worthwhile and from time to time no longer profitable
Cons
Volatility: What if you bought a virtual asset few months in the past for $10 and today it’s well worth less than $1,will you be satisfied with such trade,the answer virtually is NO
Storage: Also there's the trouble with the garage of digital coins,there is always the fear of been exposed to hackers and thieves,another problem centers across the possibility of dropping one’s own mystery keys.
According to the essential design of crypto currences assets on a blockchain platform are seen to all(the user have a public key,also called a pockets address) in which each person the world over can also ship them messages,bills or records and a private key wherein simplest the owner of the pockets deal with could make modifications to the account like spending the obtained cash,sending out messages and so on.
So how can we marry the blessings of blockchain with an asset like gold,the solution is virtual gold. The digital gold platform builds at the ethereum blockchain platform the use of the ERC 20 token standards,we map 1 gram of gold to 1 gold token, meaning if you have ownership of one gold token you've got 1 gram of gold securely saved in the digital gold vault.
Apart from been a token for gold,it’s a stable coin,a careful introspection of the stablecoin ecosystem,one will see that there exists exceptional sorts of stable coins, we have the likes of USD TETHER pegged to fiat currencies,those pegged to other crypto assets like MakerDao and people pegged to actual global assets like gold,silver or precious metals with the virtual gold token been one of them.
Features of the virtual gold token
1. Low value: You can definitely get to buy gold at a very very low value and occasional transaction fee.
2. Safe haven: it affords to you a safe haven in which you can diversify your funding portfolio with one of the safest and less volatile way.
3. Secure possession: It gives you at ease possession of gold,it takes away the worry that includes owning and maintaining gold at home,you get to purchase and personal gold genuinely
4. Privacy: it offers you privateness and also you get to personal gold with less paperworks and legal hurdles
5. High liquidity: on the subject of the promoting of gold,there is excessive liquidity for the gold token
Now,you should buy gold from the comfort of your home using most effective a web linked device like your pc, or cellular phone
Exchanges
- Cryptex exchange
- Bitforex exchange
- Livecoin exchange
- Catex exchange
For more details; Use the links below
Website: https://gold.storage/
Telegram: https://t.me/digitalgoldcoin
Author: Ampere