GOLD - First 100% Liquid Stablecoin Backed by Gold

By cryptobloger | cryptoblogger | 14 Oct 2019


 

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In this article yesterday I described what Digital Gold project is about, what is the GOLD token, and all that you need to know and understand about Digital Gold.

Today I will focus on the main function which is MARKETPLACE

THE DIGITAL GOLD MARKETPLACE

By using the Digital Gold Marketplace, users can simply fill out a form that initiates a smart contract, which then transfers the newly-minted GOLD tokens. The Marketplace acts as the best choice for GOLD token purchases and sales, as it allows users to carry out these transactions instantly.

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With this in mind, users must enter the sum they wish to purchase and the ERC20 Ethereum where the tokens will be credited. Users are also permitted to enter optional details, like the BTC return address, or email address for email-based confirmation of the purchase. Once it is fully functional, the Marketplace will support both purchases and sales of the GOLD token.

Pricing information is always displayed in the Marketplace. Upon accessing it, potential customers will get to see the current spot price of gold, purchase price, and redemption price, in both bitcoin (BTC) and ether (ETH). A chart displaying the evolution of the gold spot price over the last couple of days is also available to facilitate smarter analysis of the current gold market price trends. When using the Marketplace, users experiencing difficulties can easily address Digital Gold’s customer support team

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Yesterday, I have used for the first time Digital Gold Market and I have to say that everything works very smooth and is made so simple as possible. Of course, one has to know how Etheruem transactions and token works to be able to use the market. Simple basic knowledge is needed about Ethereum, how to send a transaction, wallets, addresses, tokens, etc. Maybe if somebody hears all of this for the first time then can be overwhelmed but believe me, if you set up Metamask or My Ether Wallet (MEW) and send transaction then you will be ready to use the GOLD token and Digital Gold Marketplace

The process is easy. We go to the Marketplace and choose the GOLD token if we want to sell, put the desired amount to sell and ETH address to receive back ETH in return because in my example I was selling GOLD for ETH. We can choose between ETH and BTC.

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Everything took about 10 minutes and I had my ETH in Metamask wallet. You can watch the process live in the Digital Gold Marketplace.

We have to remember that thanks to its Ethereum ERC-20 support, customers can choose to send the GOLD token anywhere in the world, without having to worry about volatile transfer fees, since all transfers are free. Digital Gold users are also permitted to make unlimited payments, as the service does not impose account limits. Users should note that transfers still entail the ‘gas’ tax charged by the Ethereum network.

Going back to the Marketplace you can wonder if there is enough liquidity and if you will be able to sell your GOLD tokens always?

Let me answer this question.

The GOLD token ensures high liquidity, since the token issuer company, DIGITAL GOLD LTD, also works as a liquidity supplier. Users are permitted to instantly purchase and sell large amounts of tokens, via the Digital Gold Marketplace, or partner exchanges. Another benefit worth pointing out is that with Digital Gold, customers do not have to consider local business hours, since the service is available 24/7. Liquidity is therefore available on-demand, and the rates always closely match current gold market prices.

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The GOLD token has been designed to act as a stablecoin, pegged to the price of gold. When it comes down to stablecoins, they are generally pegged to other assets or currencies, but are also collateralized. This means that the number of coins put into circulation is directly backed by assets that are stored in company reserves. This way, user tokens are protected against high-market volatility, whereas the value of the tokens remains stable through time. These aspects fully apply to the GOLD token, thanks to its stablecoin status.

Apart from being a stablecoin, the GOLD token is an ERC-20 compatible token that is based directly on the Ethereum blockchain. This means that users can expect to leverage all of the advantages associated with the Ethereum blockchain, including instant transactions, immutability, fund security, automatic records, and smart contract functionality. As such, any purchase of the GOLD token is carried out via Ethereum-based smart contracts. Additionally, smart contract functionality also ensures that the number of coins in circulation remains equal to the amount of gold being stored in the vaults.

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GOLD can be bought and sold instantly on a number of exchanges or on our website. This enables GOLD holders to be in and out of positions in a matter of seconds, a feat that is impossible to accomplish with physical gold located in a secure vault.

To achieve the high market liquidity GOLD representatives hold significant positions as a market maker on major exchanges around the world. Such a strategy allows our customers to buy and sell large amounts of GOLD with guaranteed low spread and no slippage.

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Support is available 24/7 and the team comprises several well-experienced representatives that can be contacted via live chat. Phone-based support is also available Monday through Friday, between 09:00 – 17:00 (CET). Lastly, communication with the Digital Gold team can also be carried out via email.

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GOLD TOKEN – ALTERNATIVE TO TRADITIONAL FIAT-BASED STABLECOINS

GOLD token is exactly what you need if you would like to fixate the value of your crypto assets. Your assets will retain their value as every GOLD token is backed by physical gold stored in a secure vault facility. High volatility is unlikely to affect GOLD token as its price depends only on the market price of gold. Stability of long term gold price is unprecedented making GOLD a great alternative to USD or EUR-linked stablecoins.

HEDGE AGAINST MARKET VOLATILITY AND A GREAT WAY TO DIVERSIFY PORTFOLIO

GOLD token is a low volatility stable digital asset. GOLD is backed by physical gold and its price is pegged to the market price of gold. Additionally an excellent asset for portfolio diversification due to its transparency where anyone can match the number of issued GOLD tokens against the amount of physical gold in vault storage held by our company. The GOLD token is a true safe heaven for cryptocurrency investors in times of market volatility.

INVESTMENT IN GOLD TOKENIZED AND SIMPLIFIED BY GOLD 

GOLD token is an excellent opportunity for investors looking for a simple way to purchase gold bullion bars and stable digital assets. The value of GOLD is pegged to gold market price and our platform enables you to purchase a transparent and stable digital asset. Owning a GOLD token is similar to owning the physical gold as each GOLD token is backed by gold bullion bars to ensure the value of issued tokens. The purchase of GOLD tokens takes just a few minutes, which makes GOLD token one of the easiest ways to quickly invest in real gold.

 

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https://gold.storage/en/market

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cryptobloger
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cryptoblogger
cryptoblogger

Cryptocurrencies this is my world from 2009 when I mined first Bitcoin. If you want to know about new projects and this all most hidden secrets, nobody is talking about then come and read my blog, maybe you will find your answers. I am a crypto trader.

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