Is anybody here who explains me in a simple way?
Digital gold currency is a form of electronic money based on mass units of gold. It is a kind of representative money, like a US paper gold certificate at the time that these were exchangeable for gold on demand
Cryptocurrency is digital gold, for example.
True, it’s like a digital version of gold rush, but there’s a bit difference. People don’t invest in crypto only for the money. Gold doesn’t have any utility besides money. Crypto and blockchains have both value and utility in our everyday life.
That’s why I’m bullish with $BTCS. This company is an early entrant in the digital asset market and one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies.
Do you mean their purchasing power here?
Digital Gold is an online Gold investment where you have to buy, sell, and store Gold digitally. To invest in Digital Gold, you need to have the Internet and a Digital Gold investment application.
The things that make Digital Gold a better investment option are:
You don’t have to worry about the purity of Digital Gold as it offers 24k 999.9 purity.
It provides a passive income for the investors. It is easy to manage.
3. It is stored in a protected vault of the Digital Gold firm.
4. Buying Digital Gold eliminates making charges.
5. The gold industry is an emerging asset where people are earning more than a regular FD
6. You can invest as low as Rs.1/-
- You can easily buy and sell gold anytime using your Smartphone.
In other words, you say that digital gold is stable, but it is not.
Yes, it is not. Even in the physical gold market, there are certain correlations that come from current realities. Have you heard the expression “gold depreciates”?
Actually, I’m talking about the same thing. Very misinterpretation of possibilities.
Break down the word and you will get your answer. Digital Gold means Gold stored in digital format. The same may or may not be backed by Gold in physical form. You also need to take the physical delivery of this gold or you might need to sell them, as there is a time limit for the holding period.
Interesting. But why is there a holding period?
I don’t know the exact reason but when a fair amount is reached then physical delivery of the gold becomes mandatory.