GOLD is an ERC-20 token that represents ownership of one gram of investment-grade gold. However, it’s important to note that while GOLD may be a convenient way to invest in gold, it does not necessarily provide instant access to physical gold.
When you buy GOLD tokens, you’re essentially buying a digital representation of gold, which is stored on the Ethereum blockchain. The value of each GOLD token is tied to the current market value of one gram of gold.
While it’s true that you can buy, sell, and transfer GOLD tokens easily and quickly, actually redeeming the tokens for physical gold may not be as straightforward. Each GOLD token is backed by physical gold held in a secure vault, and you can theoretically redeem your tokens for the equivalent amount of physical gold. However, the process of redeeming GOLD tokens for physical gold may involve additional fees and verification steps, and may not be instant or convenient.
GOLD tokens a convenient and accessible way to invest in gold, but investors should be aware of the potential limitations and risks involved in owning digital representations of physical assets.
Gold has been used to preserve wealth for thousands of years and is considered a reliable store of value. The stability of gold’s long-term purchasing power is due to several factors, including its scarcity, durability, and universal acceptance as a form of currency or exchange.
Unlike fiat currencies, which are subject to inflationary pressures and can lose value over time, gold has maintained its purchasing power over the long term. This is because the supply of gold is limited, and it cannot be easily created or destroyed like fiat currency.
Gold is also durable, which means it can withstand the test of time and retain its value over centuries. In contrast, fiat currency is subject to wear and tear and must be replaced regularly, which can affect its value over time.
Furthermore, gold has universal acceptance as a form of currency or exchange, which means it can be used as a store of value in any country or region. This is not the case with fiat currency, which may not be accepted or valued in other countries.
While it is true that gold’s long-term purchasing power has been stable and superior to many fiat currencies, it is important to note that gold prices can still fluctuate in the short term based on supply and demand factors. Additionally, investing in gold carries its own risks, and investors should carefully consider their investment objectives and risk tolerance before investing in any asset.
FEATURES
- SAFE HEAVEN
Gold has been a safe haven asset for centuries and has historically proven to preserve wealth in times of economic uncertainty or instability. Additionally, GOLD tokens, as a digital representation of physical gold, can be a way to invest in gold without the need for physical ownership or storage.
GOLD tokens are fully backed by physical gold, which means that the value of the tokens is tied to the price of gold. This can provide investors with a hedge against volatile price swings and poor market conditions. Additionally, the ability to instantly buy, sell, and transfer GOLD tokens can make them a convenient and accessible addition to an investment portfolio.
2. NO TRANSFER FEES, LOW COSTS
While GOLD tokens may allow for fast and convenient payments, it is important to note that transactions on the Ethereum blockchain, which is where GOLD tokens exist, do incur transaction fees.
Transaction fees on the Ethereum blockchain are known as “gas fees” and are paid in ether (ETH), the native cryptocurrency of the Ethereum network. These fees are paid by users to compensate miners for processing and verifying transactions on the network.
Therefore, while GOLD tokens themselves do not have transaction fees, users will still need to pay gas fees in order to send or receive GOLD tokens on the Ethereum network. The amount of gas fees required for a transaction depends on factors such as network congestion and gas prices at the time of the transaction.
3. SECURE
GOLD tokens are fully backed by physical gold, and the amount of physical gold stored can be matched against the total number of tokens in real-time. This ensures that the value of the GOLD tokens is tied to the price of physical gold and provides transparency and assurance to investors.
Website : https://gold.storage/home
Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
Technical Document: https://gold.storage/wp.pdf
Medium: https://medium.com/@digitalgoldcoin
Facebook: https://www.facebook.com/golderc20
Twitter : https://twitter.com/gold_erc20
Telegram: https://t.me/digitalgoldcoin
Name: 100bnb
Eth: 0x72d6d56cc2edf37559df7fb130ddc4756bd2793d
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=3480812
