WHAT IS DIGITAL GOLD PLATFORM?

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Introduction

It is a platform that is tokenizes gold and make investing to gold accessible to all and sundry. The issue is that gold is very lucrative, it has stood the test of time and a lot of people can actually bet a lot money that gold is an asset that is going to stay for the as long as humanity exist.

Gold is use in many places; it is use for jewelries, for buildings for coating and many things. Therefore, the value is very tremendous in the sense that its availability is scarce and it takes a lot of resources to actually bring it together.

What you should know

In 1971, President Nixon of United States actually remove the gold, before then the US dollar was actually backed by gold. So, every dollar that was issued was actually backed by corresponding gold in vote. However, he actually remove that standard. From there on till date money was no longer backed by gold.

WHY THE NEED FOR THE DIGITAL GOLD PLATFORM?

One of the reasons is, you want to lay your hands on gold and it cannot be gotten, because you have money. There are some hurdles you have to scale through like you need some legal document to certify that are an accredited investor for some of the time.

Another huddle is privacy. You are required to submit a lot of documents or papers but you do not know who is going to be in the procession of your documents.

Time and space Constraint: Most of the gold shops maybe locked most of the times or for some times and you have to walk into a physical location.

Security: You cannot buy Gold and put it in your house, you might be rubbed so it require some custody. Maybe you can go to banks for the custody of your gold.

Also because of enormous opportunity in the gold market. That is the reason why one of the things in the blockchain technology is the tokenization of everything that is possible. We can tokenize land, you can tokenize invoices, realities, shares, assets and the rest of them.

The digital gold platform you can take to be likely a synthetic asset. Synthetic assets are basically assets that mirror the performers of rewarders. While people are trading real gold, you are mirroring that gold. Whatever the value of gold is that will be your value.

BENEFITS OF SUCH A PLATFORM

1.You are rest assure that every single token that is in the market represent 1gram of gold. That is 99% purity and it is auditable, something that you can actually verify by audit and also on the ethereum blockchain.

2.The transfer of such assets unlike the physical gold is very minimum almost zero. May be you bought a gold and you want to sell.

3.It is secure: you don’t have to custody it with a platform and pay. You just have to store it in some of your wallet hard or soft wallet, you are good to go.

4.Low cost of entry: You can buy as much you can; maybe you can buy gold of $5 or $100.

5.High Liquidity: Irrespective of when you want to buy and when you want to sell. You are rest assure that you can always lay your hands on it.

6.Privacy

Supported Wallet: You can use ERC-20 wallets like Meta mask, trust wallet, Enjin wallet etc.

The Marketplace: That is where you can actually buy gold. You just input how many bitcoin or ethereum you want to use to purchase and it tells you the amount. Exchanges: It has exchanges like Uniswap, Bitforexetc