Digital Gold Token price is $0.01218102
The current price of Digital Gold Token (GOLD) is $ 0.01218102. Over the past 24 hours, the price has increased by +0.00%. It's important to note that cryptocurrency prices are highly volatile and can change rapidly within short time frames.
Digital Gold Token (GOLD) is a cryptocurrency project that aims to offer a digital solution for investing in gold. The idea behind GOLD is to provide the security and stability of gold with the convenience of a digital asset. Each GOLD token is said to be backed by a certain amount of physical gold, ensuring its intrinsic value is tied to a tangible asset.
The information on the founders of the Digital Gold Token project is scarce. However, the organization behind it operates from the website gold.storage and positions itself as a blockchain-based initiative to digitalize the ownership and trade of gold.
The Digital Gold Token project works by issuing GOLD tokens, each claimed to be backed by one gram of 99.99% fine gold. The physical gold is supposedly stored in a secure vault, and the GOLD tokens allow investors to digitally own and trade gold assets without the hassle of physical storage. The stability of the GOLD token thus reflects the current market value of its gold backing.
The unique selling proposition of GOLD is its claim to combine the stability of physical gold with the efficiency of modern-day cryptocurrencies. This enables users to invest in gold that is secure, easy to transfer, and divisible, which is very challenging with real gold. Additionally, the digital nature of GOLD eliminates issues related to transportation, storage, and security of physical gold.
The core technology behind Digital Gold Token is blockchain, which ensures that transactions are transparent, immutable, and verifiable. By tokenizing gold, the project assures users that they can buy, sell, and transfer tokens representing real gold without having to verify the physical gold's existence each time.
The circulating supply of GOLD tokens is tied to the amount of physical gold in storage. As more gold is added to the vault, more GOLD tokens can be minted. Thereby, the circulating supply of GOLD should theoretically always equate to the amount of gold backing it. The supply metrics such as circulating, total, and maximum supply of GOLD are , 7.2M, and there is no predefined maximum supply due to its physical gold backing.
Digital Gold Token (GOLD) has a market capitalization of $ . Depending on the actual amount of gold backing the token and the market sentiment towards both gold and cryptocurrencies, the market cap can be quite fluid.
You can trade Digital Gold Token on various cryptocurrency exchanges. Currently, the exchanges that list GOLD include Bitforex, Livecoin. Always ensure that you're trading on reputable platforms and perform due diligence on the exchange's security practices.
To keep your Digital Gold Tokens safe, it's recommended to use a secure cryptocurrency wallet. Make sure to choose one with robust security features and maintain the practice of securing your private keys. Always back up your wallet and keep it offline if you're using a hardware wallet or a paper wallet for additional security.
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