A REVIEW OF THE DIGITAL GOLD PROJECT!

topup9 (25)in #digitalgold • 2 years ago (edited)

It is always a good idea to invest in digital gold if you are eyeing long-term savings and insurance against uncertainties.
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To ensure your riches, you can put away your cash on gold. This precious metal is ideal for its strength, capacity and sparkle. Numerous individuals use it for speculation, yet in addition for body improvements, for example, jewelry, studs, and arm jewelery.

Be that as it may, purchasing gold has its own inborn problems. There are paper works which should be agreed upon. Individuals likewise need to consider the security of the gold. It isn't shrewd to hold your gold at home under the bed particularly if a have a greater part of it. Your home will be the objective of each steal on earth.

There are likewise extra expenses when you buy some gold. You have to pay for exchange expenses and some other charges. The procedure, in this manner, will be long and tedious. Moreover, by and large, the law expects you to reveal your character when you make installment for gold. This will end up being an issue when you esteem protection profoundly.

However, you don't have to stress in light of the fact that there is an answer for this circumstance. The appropriate response is the blockchain innovation. This sort of innovation, which turns out to be increasingly famous, permits you to purchase gold whenever you need, and in any sum without agonizing over all the situations accompanying it.

One of the organization which offers this arrangement is gold.storage. Their item which is called ERC20 is a Gold Token that is supported by genuine gold. For each 1 token of ERC20 equivalents to 1 gram of gold 99.99% fine. This implies when you purchase 1 token of ERC20, it is the equivalent on the off chance that you purchase physical gold.

SOME FEATURES ON DIGITAL GOLD

♦ Secure:
These challenges can be disregarded with Digital Gold. With the GOLD token,
customers purchase coverage in actual gold, stored by the company in secure
vaults. All physical gold is insured, therefore the risks are minimal. All risks are
covered at full replacement value. The insurance contract is currently provided
by one of the world’s largest insurance underwriters, the Chubb Insurance
Company. The insured gold is stored in Singapore, which is a perfectly-viable
location thanks to its strong property rights.

♦No transfer fees:
Thanks to its Ethereum ERC-20 support, customers can choose to send the
token anywhere in the world, without having to worry about volatile transfer
fees, since all transfers are free. Users are also permitted to make unlimited
payments, as the service does not impose account limits. Users should note that
transfers still entail the ‘gas’ tax charged by the Ethereum network.

♦High liquidity:
The GOLD token ensures high liquidity, since the token issuer company, DIGITAL GOLD LTD, also works as a liquidity supplier. Users are permitted to instantly purchase and sell large amounts of tokens, via the Digital Gold Marketplace, partner exchanges.

THE DIGITAL GOLD IS A STABLECOIN

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the GOLD token has been designed to act as a
stablecoin, pegged to the price of gold. When it comes down to stablecoins, they are generally pegged to other assets or currencies, but are also collateralized. This means that the number of coins put into circulation is directly backed by assets that are stored in company reserves. This way, user tokens are protected against high-market volatility, whereas the value of the tokens remains through time. These aspects fully apply to the GOLD token, thanks to its stablecoin status. Apart from being a stablecoin, the GOLD token is an ERC-20 compatible token that is based directly on the Ethereum blockchain. This means that users expect to leverage all of the advantages associated with the Ethereum blockchain, including instant transactions, immutability, fund security, automatic records, and smart contract functionality. As such, any purchase of the GOLD token is carried out via Ethereum-smart contracts.Additionally, smart contract functionality also ensures that the number of coins in circulation remains equal to the amount of being stored in the vaults.

The limited supply of physical gold, would eventually bring an increase in the price of gold and that can also manifest in the limited amount of GOLD token. Investing in a GOLD token is, therefore, a clear representation of investing in physical gold.