Digital Gold - store your Gold on the Blockchain

in #gold5 years ago
Gold is a great asset for investors to diversify their portfolio. It is a great asset to own in order to protect you from inflation.

The price of Gold

Gold is an asset that is known to protect its investors from inflation.
Here is just a quick example
In case one had invested 300 Dollars in 2000, these 300 Dollars would be worth 1450 Dollars in 2020.
In case one would have just held his money in US-Dollar these 300 Dollar would have a buying power of around 200 Dollars. In addition, unlike paper money, gold cannot be multiplied at will. This limitation and the enormous demand at the same time ensure that the Gold price rises over time.

Gold Chart

Investing in Gold

Gold has some significant disadvantages like its storage problem. If you invest into Gold you have to store your Gold somewhere, where it is protected and safe.
Another aspect is the thing that one can not travel with 100 kg of Gold in your bags.
There are different possibilities to invest in Gold:

Gold Certificates

Certain financial certificates reflect the gold price, but are not deposited with physical gold. If the issuer of the investment becomes insolvent, the investor is at risk of losses up to and including total loss.

ETCs

Exchange Traded Commodities (ETCs) are bonds that securitize the value of a certain amount of gold and often include a right to the physical delivery of that gold. There is also a risk of the issuer going bankrupt, because investors may then have to enforce their claims in court.

Gold shares

Investments in the shares of gold mine operators are also considered a form of investment in gold. However, not only the gold price is important for the price development, but also other factors such as the entrepreneurial skills of the respective operator and the overall development of the stock markets.

Digital Gold


This is the reason why Digital Gold (https://gold.storage/de/home) came up with its Gold-token. Each Gold token is backed up by 1 ounze of 1 Gramm Gold - 99,99% Gold.
Each GOLD token is 100% covered by physical gold, which is kept in a secure vault.
The Gold.storage website allows the GOLD token holders that an unlimited amount of GOLD can be bought/exchanged immediately and at any time on their website this means GOLD token can be sold at any time.

Advantages

First you do not need to worry where to store your gold if you have larger amounts of gold ounzes. Your storage costs and service costs, compared to the cost of storing gold at a bank, are significantly lower.
Secondly, it solves the problem of travelling with gold - Basically, you just need to have your private key with you.
The GOLD-Token is an ERC20 token which menas it is based on the ethereum blockchain. Therefore you only need the private key for your eth wallet in order to access you gold.
Lastly, in case you need your Gold in physical form you can get back to the gold.storage website and trade your tokens for physical gold at any given time.

Where can you get GOLD- tokens

DigitalGold is now listed on BitForex, Livecoin, Cryptex exchange.

Here is the link to the DigitalGold website: https://gold.storage

Link to the authors BTT account: https://bitcointalk.org/index.php?action=profile;u=946129