Guest Post

What Is Gold Coin, and How Do You Buy It?

With a year of political and economic uncertainty, investors continue to look for safe places to preserve their wealth. For an asset to be deemed a worthy investment, it will typically follow four main criteria. The asset must be:

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  • Limited in supply
  • Easy to buy and sell
  • Accepted by the public as a medium of exchange
  • Able to hold its value in times of uncertainty

While most looked to gold as a safe store of value throughout human history, the popular cryptocurrency Bitcoin has since become a comparable option. The rise in Bitcoin price has led many to ask if they should be investing in gold or cryptocurrency this year. The answer? Both. 

Investors can now purchase a cryptocurrency with value tied directly to a precious metal without ever owning the asset itself. As a result, investors can take advantage of many of the benefits experienced by Bitcoin holders, such as immutable transactions and low to no transaction fees, all without wildly volatile swings in price. To do so, investors are encouraged to look into gold-backed currencies like GoldCoin (GLC), which can be purchased from a variety of online platforms like Gold Exchange

Gold Coin Explained

Goldcoin.com (GLC) is an ERC-20 stablecoin that is backed by precious metal. A stablecoin is a type of cryptocurrency that runs on the blockchain but represents a different asset (in this case, the precious metal gold). Like other ERC-20 tokens, it is based on the Ethereum network and can be stored and sent using Ethereum addresses and transactions. 

Like Bitcoin, Ether, Litecoin, or any other cryptocurrency, the tokens themselves hold value and can be sent and received between recipients. The main advantage is that GoldCoin is backed 1:1 by gold holdings and, as a result, is less volatile than Bitcoin or other altcoins that aren’t pegged to a stable asset. Since GoldCoin is a fractionalized gold-backed asset, purchasers can buy the token in any amount at any time in comparison to gold. 

Why investors are taking an interest in Gold Coin

The demand for gold has continued to grow steadily, providing investors with a low volatility asset in a digitized form. Gold Coin has since been coined (no pun intended) the “digital gold for a new generation,” which can be redeemed for 1000 GoldCoin per ounce of gold at any time.

Investors who don’t have a large amount of discretionary income to invest might want to further investigate opportunities to purchase gold-backed cryptocurrencies since traditional gold bars or coins typically have a minimum amount that can be purchased.

Continuing the comparison between Gold and GoldCoin, it is important to bear in mind traditional precious metals are not legal tender and must be exchanged for fiat money to make purchases with them. Although this is also true of GoldCoin, the token can quickly be converted into a currency of your choice. 

These investments have also become increasingly popular as consumers and businesses alike have followed the evolution of the digital economy, changing the way we value intangible assets. The security, ease of use, and speed in which transactions occur have all attributed to the compelling reasoning behind making GoldCoin investments. 

How to purchase GoldCoin

Purchasing GoldCoin is now easier than years previous. There’s plenty of sellers and stores offering Fractional Gold. Purchases can be made using online platforms such as a cryptocurrency exchange, a precious metal dealer network, or through the token creator website itself.

Among the safest and most secure methods to purchase GoldCoin is the website, Goldcoin.com, which allows users to sign up with a username, email address, and password.

The platform also provides access to the coin through its ATM network. On the site, users can buy GoldCoin and other precious metal stablecoins with their debit or credit card or even a popular cryptocurrency like Bitcoin. 

Like other ERC-20 coins, an Ethereum supported wallet will be essential to safely store, buy, sell, and trade GoldCoin. Some examples of these wallets include Metamask, MyEtherWallet, Atomic Wallet, and Exodus. 

Additionally, investors are encouraged to keep their eye on popular exchanges such as CryptoExchange.com, which are believed to make GoldCoin available to the public sometime in early 2021.

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Nazeefa

Nazeefa is a law student and loves Blogging. She does research on the trending topics of Blockchain, cryptocurrencies, and crypto-related assets.

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