In my previous write-up, I try to let us understand the aim of Digital Gold project. I said they have digitalize the gold ecosystem and built a marketplace where investors can purchase, sell and store their gold. The core reasons of Digital Gold project is to create a cryptocurrency token (GOLD TOKEN) that will represent the physical gold. This concept means people can now buy gold online with GOLD TOKEN.
For the sake of people that do not have sound knowledge; what Digital Gold platform want to do is that, instead of going to vault stores to buy gold, you can buy GOLD TOKEN which represents the real physical gold.
The GOLD TOKEN is a cryptocurrency built on ethereum network with Erc-20 standard. It is also a stable token backed by physical gold. The GOLD TOKEN was designated to be equals to 1 gram of physical gold.
The Digital Gold built this platform so that everybody could easily have access to buy, sell or store his gold assets.
It is wise to invest your money in cryptocurrency investment because:
- Transfer of funds is instantaneously
- Doing business with people become ease and safe
- Transferring fees is lower
- No intermediary
- Transaction are transparent because everybody can view it.
Though there are challenges of investing in cryptocurrency investment, e.g
- Most cryptocurrencies are not backed by any physical assets
- It is hard to recover a lost fund on the system
- Cryptocurrency do experience several fluctuations
- Cryptocurrency investment can be lost or gain within a twinkle of an eye due to volatility
- Cryptocurrency does not have any inherent value or price.
SEE HOW GOLD TOKEN IS DIFFERENT FROM OTHER CRYPTOCURRENCIES
However, the GOLD TOKEN is also a cryptocurrency but with different perception. The GOLD TOKEN is a cryptocurrency that was backed by physical gold. So this means the GOLD TOKEN has an inherent value, and its value is in tally with the price of physical gold in the market. Again, the GOLD TOKEN is also a stablecoin i.e it has a stable price. GOLD TOKEN being a stablecoin will make the token have hedge over price volatility.
HERE ARE THE REASONS AND ADVANTAGES WHY YOU MUST INVEST IN GOLD
Dear ladies and gentlemen, if you want to preserve your wealth from time to time, just invest all in gold. See below the reasons and advantage while you must reserve your asset in gold.
- Gold has hedge over Inflation
The gold has a hedge over inflation, the gold value normally goes up especially when the cost of living uplift. Records has shown that the value of gold has been rising day after day for over many years now even though if there is inflation in the land. The fiats sometimes loses its purchasing power to occurrence of inflation, but gold value never get affected with inflation or any natural disasters.
- Gold has Protection over Deflation
Deflation is an occurrency when the price of many commodities and other value assets goes down. Deflation normally slow down business activities and it usually increase the rate of debt in the economy. However, gold has a protection over deflation, there is regular business activities in the gold market because its price always increase. History even shows that in 2018 when financial crisis occurred in most parts of the world, the price of gold increases the more while the price of other assets dropped as usual.
- Gold Has Hedge Over Geopolitical Uncertainty
Geopolitical crisis is one of the occurrences that brings financial uncertainty; during this kind of period, investors flew away from their investment and most business will crash during this era. However, gold do perform very well during geopolitical crisis and its price usually roar even beyond measure. Taking the geopolitical crisis that occur with European Union, despite the low confidence from the governing body, the price of gold rise even more.
- Gold Has Higher Demand
Just as it stated that gold is the most precious metal on the earth's surface now, the demand is so high. According to the law of economy, the higher the demand, the higher the price. No wonder the price of gold always increase higher. The investors are also higher than the gold in the market.
- The Fiats are weak
Although some fiats i.e dollars ($), euros (€), and pounds (£) are known to be among the top currency in the world but its value usually fall and there seems to be no security to protect their value; but the security of gold value can't be underrated, it always goes up day after day.
- Portfolio Diversification
Investors can diversify their portfolio with other assets investment in order to reduce the overall risk. The gold market does not have the same correlation with other kind of investment i.e stock. So gold is a kind of investment we can use to diversify our portfolio.
The Digital Gold platform has built a marketplace for trading and exchanging of GOLD TOKEN. This can be found by following this link https://gold.storage/market
The platform also partner with other cryptocurrency exchange to list GOLD TOKEN for trading e.g Cryptex. You can get to Cryptex exchange by following this link https://cryptex.net/
BENEFITS OF ADOPTING DIGITAL GOLD
Before the creation of Digital Gold platform, we all go to vault stores to buy or sell gold, by doing this, we pay a very high fees for exchange. We also pay fees to the platform that stores our gold or bring it home at owner risk. However, since GOLD will be representing physical gold, we can buy or sell or even transfer without paying any fees. We don't need to pay urge fees to storage services platform for saving our gold, because the Digital Gold platform is responsible for that; yours is to just store your GOLD TOKEN in any ethereum based wallet. Lastly, we can buy or sell any portion of GOLD in the marketplace.
It is advisable to invest in gold because its value always goes higher no matter any kind of disasters that might happen to the economy. When other currencies lose their value to inflation, gold value will remain gallant and rise further. From all observation, I can vividly says that gold is the best investment for storing value, and I will encourage us to purchase gold anytime and every moment of your life. The safest place to put your money should be in gold.
USEFUL LINKS OF DIGITAL GOLD
Website - https://gold.storage/
Bitcointalk ANN - https://bitcointalk.org/index.php?topic=5161544.0
Get insight from the Whitepaper - https://gold.storage/wp.pdf
Twitter - https://twitter.com/gold_erc20
Medium - https://medium.com/@digitalgoldcoin
Reddit - https://www.reddit.com/r/golderc20/
Facebook - https://facebook.com/golderc20
Telegram Group - https://t.me/digitalgoldcoin
Bitcointalk username - Romanbank
Bitcointalk Profile Link - https://bitcointalk.org/index.php?action=profile;u=1968530