Gold-Based Cryptocurrency

[Sir Cross]

The gold-based cryptocurrency is paving its way towards success. Now in the cryptocurrency world, there is a gold rush going on. Many countries are planning to issue their own gold-based cryptocurrencies.

Value of Gold-Based Cryptocurrency
The idea of gold-based cryptocurrency is very compelling for the cryptocurrency traders. This is because of its worth very high value. Right now, one token or coin of gold-based cryptocurrency worth 1 gram of gold. Its value is equal to the gold price in the market. Even it is possible that the price of gold-based cryptocurrency will increase with the increase in the regular rise in the price of gold.

Risks of Gold-Based Cryptocurrency
Obviously, there are risks attached to gold-based cryptocurrency, just like the simple cryptocurrency. While trading with this coin, you must confirm that who is holding that blockchain account, who is the owner of that gold and how it is stored. Also, while dealing with the gold-based cryptocurrency, make sure that you also own the gold. Another important advice given by the experts to beginners in gold-based cryptocurrency is that they must do their proper research and evaluate all the alternatives of gold-based cryptocurrency, just like you investigate the online Ripple XRP cryptocurrency trading. Those who do not clearly mention that how they store and account for gold, you must not engage with them for trade.

Read more:http://www.centraljersey.com/newswire/learn-all-about-gold-backed-cryptocurrency/article_d2c0ace8-796e-11e8-8494-87630f2ffae8.html

[hell_slayer]

Gold based and gold partially based cryptocurrencies are already exists , but seems like ''gold-based'' don't work on a current crypto market . Let's imagine we have a real gold-based cryptocurrency with ICO ongoing , let's say the price is 50$ per token , which is approx. equal to a value of 1g of gold . Project declare that every token holder can claim their gold in any period of time , so when ico ends (let's say it was yesterday) , investor decides to claim his gold . But the price of token goes down from 50$ (ICO price) to 5$(bearish market) in a single day, so what amount he can claim now ? He paid 50$ on ICO , but now it only worth 5$ . I can't imagine any real world based currency will work in another manner then traditional cryptocurrencies on this unregulated market , when everything can be pumped and dumped doesn't matter what is behind this currency .

[ZirconiumX]

gold based coins not working in crypto, i think only stable coin pleged to usd is good, but real usd, not like usdt, that cannot be immidietly transferd into usd