Digital Gold - Trade Gold Without Limitations
One ounce of gold was worth just $39 in 1970. Year after year prices of gold have reached new highs. in 1980 the price of gold reached $843 per ounce and on November 01, 2019, one ounce of gold was valued $1,509.
People are afraid to invest in gold because they are afraid of losses. The price of gold changes every day. It is a volatile asset. The value goes up and the value goes down. It is in human nature to try and prevent losses rather than making a profit. The market dictates the price. Investors get afraid when they see that the value of their investment just went down 1% compared to last week or 2% compared to the previous month and this happens because they are not thinking long term. Gold is an investment for the future.
Why you should invest in gold
As the chart above shows, gold is a profitable investment in the long run. Gold has been around for thousands of years, either as a payment method or store of value. Our fiat currencies that are used as legal tender are susceptible to inflation. Take the Zimbabwean dollar as an example which has caused huge instability in Zimbabwe.
source
Gold, on the other hand will always be valuable because you cannot print it in a central bank and the quantity is limited. A lot of time and resources are needed to mine gold, you cannot recreate it in a lab or produce a cheaper version.
What is the traditional way to invest in gold?
Investors can buy gold in its physical shape and form and store it in a bank or a safe. Shares of gold can also be purchased on the stock exchange in the form of an Exchange Traded Fund (ETF). This is a more popular option in our time and it saves investors from the trouble of having to think of safe ways to store their gold.
Problems with the traditional investment models
Stock markets are strictly regulated. All clients have to go through a detailed KYC procedure to avoid issues such as money laundering or corruption. Clients have to submit their identity information, proof of income, bank statements and other documents on request.
You cannot simply register on the stock market and buy gold. One way of buying is through a broker. An individual or an agency that is authorized to trade on your behalf. Index Funds or Hedge Funds are some other ways to acquire stocks. All these options are expensive, heavily regulated and complicated for the average Joe.
The Solution is: Digital Gold and the GOLD Stablecoin
Digital Gold (https://gold.storage/en/home) is an ERC-20 token that enables users to purchase gold in a digital format. Each GOLD token is equal to one gram of 99.99% fine gold and is backed by physical gold that is kept in the company's vaults. The company allows investors to invest in gold without being subjected to complicated paperwork which is the case with the traditional stock market. The GOLD token is pegged to the value of gold which makes it less volatile to other cryptocurrencies where sharp up-trends and down-trends are common.
I mentioned previously that investors are afraid to invest in physical gold. One of the reasons for this fear is due to problems with storing gold. It is valuable, it is heavy and takes up a lot of space. For these reasons, they are reluctant from storing it in their homes.
Digital Gold offers a better solution by using the blockchain. Blockchain-based gold can't be hacked or stolen and using the service to trade gold is completely anonymous. Users are free to buy and sell as much as they like and thanks to blockchain technology there are no geographical restrictions. All transactions with the GOLD tokens are free of charge (excluding transaction fees), they are irreversible and immutable and the Ethereum blockchain guarantees instant transactions.
A simple way to trade gold is finally available thanks to the Digital Gold platform for investors who don't want to be subjected to complicated regulations and KYC procedures and lose their anonymity. By using the GOLD token, you can now buy and sell any quantity of gold and not have to worry about its safety.
Website: https://gold.storage/en/home
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2437930
Sources:
https://gold.storage/wp/White_paper_en.pdf
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
Only one day when I have money can I look at this my friend.
Blessings!
Keep taking stunning pictures and you will get there.
Thanks!
Will do my friend and only trying my best.
Blessings!