How you can profit from Gold during this coronavirus season
Folks,the future is in cryptocurrencies and blockchain systems,why because there is a whole movement in dedicated at the W3C foundation to the web 3.0,a kind of semantic web
So it’s something you should from things like Unstoppable domains,protocols like IPFS,you have platforms like Arweave that is trying to create a web you can permanently store things,so even before who are trying to rewire the whole thing like the TCP/IP,rewire the entire internet architecture,
Our interest today is a platform called the Digital Gold Token,as cryptocurrencies,as their numbers surge,one of the things you should notice is that the total market capitalization is decreasing.
Towards the end of 2017,the market was almost $900 billion dollars with less than 2000 coins ,fast forward to March 21, 2020,the market is less than $300 billion dollars with more than 6000 coins.
I will give you the price of some of the coins and their altcoin highs
Bitcoin,Ethereum,Bitcoin cash,XRP,Monero and other six coins
The statistics show that the top 100 coins fell to 1-10% of their original value,how about those that are not in top 100,how about the coins whose values are almost at zero valuation.
James is a merchant and he sell things like apples,oranges and here comes Alice he buys some apples today and he pays $4 in crypto and Bob comes to buy oranges and he pays $5 in crypto.
What if after 2 weeks of the purchase,Alice $4 has dropped in value to $1 and Bob $5 to $1.5,if you are James,how would you cope with such drop in value,would you reconsider accepting crypto for payment.
Stablecoins alleviate this problem,they are cryptocurrencies whose value are pegged on a 1:1 ratio with a fiat currency,some other cryptocurrencies or real world asset like gold,silver,precious metals etc.
The digital gold token is a stablecoin pegged to actual gold,what this means is that for every token minted there is a corresponding physical gold for it in the company’s vault.
And probably you are interested in investing in gold and maybe you do not know how to go about it,
There are reasons probably why you are not investing in gold,one of them could be education(maybe you do not know enough),the issue of access(of the reaons why I like blockchain systems,growing up I had the desire to make worthy investments but did not know how to go about it,I made enquiries aout bonds,mutual funds,treasury bills,stocks and one of the reason why I like blockchain systems is that you can literally invest in almost anything although this also comes with its own risks)
Another issue that could hinder a lot of people may also include the challenges of several know your customer requirements,privacy concerns,legal and boundary restrictions.
The digital gold platform takes care of all that,so once you want to buy gold you will have to fill up a form,now this form translates to a smart contract,you enter the amount of gold token you wish to buy etc, and that will initiate a transaction in the online marketplace or you could simply visit an exchange like bitforex and buy the tokens there.
Why should you be considering to invest in such a platform
Because if these are coins and this is gold,coins are not like gold,coins are not supported by anything,there are influenced by things like community,pumps and dumps,little to no regulation,few markets/audience.
When you talk about gold,you talk about the Federal Reserve Bank of New York that stores over 20% of all the gold in existence and this is gold that belongs to a lot of governments,corporations,banks etc,there is a huge market for gold,also the gold market has been tested and tried,while the cryptocurrency market is less than a decade old,the gold market has been existing for centuries.
Also there are tighter and well established regulations around the trading,purchase,transfer and storage of gold and also unlike cryptocurrencies,gold has price stability.
So when you buy the digital gold token,as the price of gold drops,so does the price,as the price of gold increases,so does the token.
As more fiat currency gets minted,it values drops but unlike fiat,gold is scarce and not minted at same rate as fiat so the value is stable and increasing.
I believe if the coronavirus pandemic is not handled within the next 6 months,it may set our world on a global recession,we see the effect already,schools,businesses,religious houses etc are been shut down,movements are been restricted and in the midst of all these crises,a crash in the value of many things is certain,a wise choice will be to invest in some asset like gold and the digital gold token platform is a good place to start.
Learn more
https://gold.storage/en/home
https://twitter.com/gold_erc20
https://t.me/digitalgoldcoin