Digital Gold — Safely and Profitable.

7 min readJan 28, 2021

Whenever it comes to tools, it becomes obvious that we are dealing with a very emotional topic. The audience is immediately divided into two camps: “golden fanatics” and “golden haters”. Many of the arguments put forward by both arguments are based on unshakable myths that we would list and analyse in the course of this article.

How to safe from bad times

ECB also pursued an expansionary monetary credit policy by printing money. There is more and more money — the ECB’s balance sheet has more than doubled since the 2008 crisis. If money literally prints, then it loses its value, because the volume of goods and services that can be bought for this money does not change as quickly as the volume of money supply increases. This creates a feeling of insecurity and encourages buying the most conservative currency — gold. Gold acts as a rescue from the depreciation of money. No wonder the opinion was voiced about the return of the gold standard. Fifty years ago, the US dollar was pegged to gold, meaning that $ 35 could buy one ounce of gold. Now, to buy an ounce of gold, it will take more than $ 1400, thus the price of the eternal metal has increased 40 times.

Gold coins before century

Gold coins have been known to the world for several thousand years BC. The Bible already says: “In the gold that came to Solomon every year, the weight was six hundred and sixty-six talents of gold.” Thus, even in such ancient times, gold was a completely free convertible currency with high purchasing power. The value of 666 talents of gold today would be roughly a billion euros.

But gold is not only an investment object, it is also used, for example, in industry in the production of electronic goods, jewelry and sacred items are made from gold. Although gold is still mined from the earth’s interior, some of it simply evaporates. Gold is a soft metal and gold jewelry has subtle wear and tear.

How to invest

Like other precious metals and commodities, gold is also listed on the exchange. On the exchange, gold has the ticker or designation XAU, and it has become a common financial instrument. There is no longer a need to purchase gold bars to invest in gold. The physical capitalization of gold, or the value of its entire volume, is just over seven trillion euros. 184 thousand tons of gold are stored in world banks and on deposits. It is the largest financial asset, even excluding various gold-derived financial instruments such as gold futures.

The most popular way to invest in gold is by purchasing a gold bar or coin. Less likely to invest in gold jewelry. Some also invest in gold certificates, shares of gold mining companies, and other financial instruments derived from real gold. Financial instruments provide an opportunity to profit from fluctuations of this metal in the market, but do not guarantee security in the event of force majeure. At the same time, investments in securities are associated with opening an account, declaring income and, therefore, require a lot of time and payment of commissions. But what if during the next financial crisis it is impossible to break into your bank? Therefore, gold in physical form is more reliable — a heavy and therefore a small piece that does not have an expiration date that does not depend on financial and regulatory authorities. The most economical way, especially for small investments of a couple of tens or hundreds of euros, is to buy scrap gold from a pawnshop. It can be sold just as easily if needed. Scrap gold can be easily divided into smaller portions — and sold exactly as much as money needs to be made. A gold bar or coin has to be sold in its entirety if you want to get full price for it. It is not for nothing that you cannot open the packaging of coins and bars; it is also an expensive pleasure to hold a gold bar in your hands. Imprints make the product look bad, thus reducing its price.

When investing in exchange-traded products — when buying and selling metals, shares or industrial financial instruments — a part (0.5–3%) of the stipulated amount goes into the hands of an intermediary (broker or bank) as a commission fee for services under the transaction, does not contain with buying or selling. In a similar way, this happens when buying or selling gold, that is, an intermediary, for example, a pawnshop, pawnshop, than will sell gold more expensive than he paid when buying. If you buy scrap, you will have real gold in your hands, not a piece of paper in your pocket or a combination of numbers in an electronic device.

However, investments in scrap gold have one drawback — they are not suitable for making a profit through price changes (speculation), and not as convenient as securities that can be sold over the Internet. “Scrap gold is like a reserve fund, which is always at hand and never gets wet, during a crisis, when money is needed most of all, it is a universal currency,” says Martynov, Chairman of the Board of INVL.

The most common fineness of gold is 585, which means that one gram of this metal contains 58.5% gold. However, care must be taken when buying gold. There are several types of counterfeit gold, and gold items with a gold content of less than 58 percent are available in the Middle East.

“The value of gold also depends on its purity,” explains the jeweler, who wished not to reveal his name. Scrap gold contains contaminants. Gold needs to be refined before being converted into jewelry, and the price of pure scrap gold is higher. But, unlike financial instruments and their derivatives, gold is an eternal and understandable commodity — October 2011 and a tangible commodity. In case there is a desire to invest a large amount, Leonid Kil recommends, based on his experience, to prefer gold bars. It is more convenient to work with them, because the gold bars are packed and weighed, and their purity is confirmed by certificates.

It probably makes sense behind the price of gold to make money on the everlasting metal.

Digital Gold undertaking

The Digital Gold Enterprise influences the blockchain for transparency, all purchased gold tokens will have a constant amount in physical gold and all exchanges will take place on the blockchain, so a blockchain adventurer like etherscan can be used to figure out how tokens are exchanged.

The Digital Gold project is today an outstanding project aimed at integrating physical gold and the virtual economy, therefore, this project allows the digitalization of gold using blockchain technology, eliminating the tedious operations and requirements associated with buying and selling gold. by using blockchain technology to develop gold trading and be used as a means of payment. and gold tokens, which are backed by physical gold, ensure its security thanks to the protocol implemented by the blockchain

HODL IT!

Typically, any wallet that can hold ETH and the private key provided to the user can also be used to store gold tokens, making it easier to use the tokens when cashing out. Among the wallets mentioned, the My Ether wallet seems to be the most suitable option. Because it provides a great user experience and helps facilitate password-based transactions. Smart contracts are also available. The gold trade also has its own problems that cannot be exaggerated. These concerns include security, taxes, costs, order restrictions, and so on. Thus, in this case, there will be two solutions: using a third party for business or using blockchain technology. Blockchain is better because it has a high level of security.

Final thoughts

Summing up the above, it should be noted that investing in gold is a win-win option for those who want not only to save money, but also to increase their funds. And investing in gold of users of the Digital Gold platform is the absence of risks and a guarantee of stable income.

Useful links:

Website — https://gold.storage/

Bitcointalk ANN — https://bitcointalk.org/index.php?topic=5161544.0

Get insight from the Whitepaper — https://gold.storage/wp.pdf

Twitter — https://twitter.com/gold_erc20

Medium — https://medium.com/@digitalgoldcoin

Reddit — https://www.reddit.com/r/golderc20/

Facebook — https://facebook.com/golderc20

Telegram Group — https://t.me/digitalgoldcoin

Writer’s Information

Bitcointalk username — TonyMontana777

Bitcointalk Profile Link — https://bitcointalk.org/index.php?action=profile;u=2169832