Digital Gold a unique method of investing in gold

ak1o (61)in #digitalgold • 3 years ago

Greetings to all readers of my crypto blog. Today I would like to talk about the Digital Gold project. I will tell you the main idea of the project, its features, etc.

Every day the number of new projects in the field of cryptocurrencies is only growing. You don't always have time to keep track of all new discoveries. All of these projects are based on blockchain technology. Blockchain is a continuous chain of blocks. This technology allows you to conduct money transactions as anonymously and securely as possible. That is why blockchain has become so massively popular among innovative projects.

Gold is the precious metal that most paper money has been tied to since its inception. However, the states gradually abandoned such pegging, and national money became more susceptible to inflation and changes in purchasing power. Gold itself remains an insurance asset for the world's largest central banks, and its purchase has become a common way of investing. In addition to the investment function, precious metals also have the status of an ordinary commodity and are used in various industries: instrument making, mechanical engineering, medicine, jewelry (for different metals, the degree of use is different, but this is typical for all). This means that all metals have real value and are a promising and highly reliable asset.

Digital Gold is a blockchain-based project that allows you to have a certain amount of gold in digital format. That is, any user can purchase gold without any physical action. Everything is done via the Internet and blockchain.

This is a very interesting investment idea. Those people who would like to purchase gold for a relatively small amount will be able to do so now.

Digital Gold has its own digital token GOLD. The GOLD token is based on the ERC-20 Ethereum. A user who wants to purchase gold buys GOLD tokens. The GOLD token is equivalent to 1 gram of real gold. That is, to buy 1 kilogram of real gold, you need to purchase 1 000 000 GOLD tokens. All this can be done on their official website.

The GOLD token, since it is directly linked to the exchange price of gold, is a stablecoin. This makes it immune to day-to-day market volatility in the cryptocurrency market and also allows users to capitalize on long-term upward trends in gold prices. The liquidity of the token is also maintained due to the connection between GOLD and the exchange price of gold.

Digital Gold strives to maximize the trust of its users. In addition, the GOLD token is based on the ERC-20 Ethereum, which immediately allows all transactions to be carried out securely and anonymously for their funds. All gold that users purchased using the GOLD token is stored in a secure vault in conjunction with BullionStar. BullionStar is the largest supplier and store of precious metals in Singapore. To enable GOLD token users to view daily how much gold is held in the warehouse, BullionStar conducts a storage audit every month.

I think this is the end.

Conclusion: the Digital Gold project is an excellent solution for investing in gold without unnecessary complicated procedures. In addition, having GOLD tokens, you can store them, transfer them, pay for various services on the Internet. I can call it that - a digital version of gold.