The Blockchain of Gold

Investing over the internet has always been a very risky business, this is because you have to trust someone else to actually deliver the product that you are paying for, and you never really know if they are legit or if they will just run off with your money and “turn off” their website.

Gold industry has been particularly affected by scam cases but blockchain technology can now eliminate the risk of fraud and make buying and selling Gold 100% secure.

In this post I will try to explain in basic terms how Bitshares platform has made buying Gold-Backed assets possible.

So….what is Bitshares (BTS)?

BTS is an alternative digital currency system which is used to create market pegged assets for various major global currencies and commodities. One of these market pegged assets is BitGOLD.

And what is BitGOLD?

BitGOLD is a digital asset which works like Bitcoin, secured by a peer-to-peer ledger called a blockchain, but the value is tracked by a price feed and backed by 200% collateral.

Where do I buy BitGOLD?

BitGold Assets can be bought from other users (no middle-man) on Bitshares decentralized exchange platform. You can either download their software for windows, linux and mac or use a web version like Open Ledger.
You can also transfer your gold to friends or sell it for other currencies like U.S Dollars, Chinese Yuan, Bitcoins and many more. You pay a small fee per transactions of less than 0,01 USD.

Why is BitGOLD safer than the rest?

In addition to the fact that you can invest in gold anonymously, you also do not have to trust your investment to anybody else to look after. Only you can access your funds using your secret key and you can store your digital wallet on your home computer to take full control of your investment.