gold backed.docx - Gold-backed cryptocurrencies have removed the most feared aspect of cryptocurrencies \u2013 price volatility This feature has prevented

gold backed.docx - Gold-backed cryptocurrencies have...

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Gold-backed cryptocurrencies have removed the most feared aspect of cryptocurrencies – price volatility. This feature has prevented the mass adoption of cryptocurrency either as an investment or to pay for goods and services. Fortunately, gold-backed virtual currencies can be used both as an investment and for day-to-day usage because they are pegged to actual gold which has consistent price stability. Examples of gold-backed cryptocurrencies include, but not limited to: Gold Bits Coin (GBT) GBT has its roots in Australia and is built on the Ethereum blockchain. The crypto focusses mainly on developing a utility coin that can be used to pay for goods and services either on physical or online stores. AurumCoin (AU) AU has a ratio of 1:0.75 to gold meaning that each AurumCoin is backed by 0.75 grams of physical gold. However, AU's par value is maintained at a ratio of 1:1. AU's physical gold is
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  • Summer '18
  • Brett Gordon
  • AU, SGC

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