DigixDAO Poised to be the Future of Gold
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DigixDAO Poised to be the Future of Gold

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DigixDAO

In the past few months, the world is experiencing a crypto-storm, the likes of which has not been seen before. Cryptocurrencies are springing up frequently, with new projects promising several types of utilities to various industries. Digix is one such token which is proud to be the “first” Decentralised Autonomous Organization or DAO and is based on Ethereum. At the time of writing (12/03/2018), Digix has a total market cap of $728,968,000 USD with a total circulating supply of 2,000,000 Tokens. This is reflective of the fact that it is currently ranked at 26th in the world.

Digix and its Connection to Gold

Since Gold is one of the first raw materials that people perceived to be valuable throughout the ages, it has gained an equal status of value when compared to other national currencies. The current Gold market worldwide is currently valued at an excess of 8 trillion.

There are certainly many similarities between Gold and cryptocurrencies in general. One of the major similarities is the presence of a total supply in both cases. Contrary to fiat money, which can be reprinted by national governments based on circumstances, the total supply of Gold in the world is fixed.

There are, however, major problems with acquiring and investing in Gold. Gold dealers can sometimes scam people with fraudulent Gold-Lookalikes. It is also a fairly bulky material, making it difficult to keep at home. DigixDao wants to bridge this gap, by allowing normal investors and the general populous to readily invest in the Gold market.

The Two Major Tokens: DGX and DGD

DigixDao has introduced both the DGX and DGD tokens exactly for this purpose. Both tokens function very differently from one another, with DGX for investing in gold, while DGD for investing in the DigixDao platform itself as well as trading with Gold.

DGX Token

The DGX token is the prime focus of the DigixDao platform. Each token is fixed at 1 gram of 99% LBMC-approved Gold.  This Gold is then safely kept in a safe in Singapore, which can store up to 30,000 kilograms of gold.  The DGX Token allows any investor to get hold of Gold, using the famed blockchain technology.  Thus, it fulfills two purposes, namely

  • Being a Stable Investment compared to other cryptocurrencies
  • Allows Access to Gold for small-scale investors.

DGD Token

The DGD token is used for a dramatically different purpose. A DGD token holder gets a share of the profits that the DigixDao platform makes, which in turn comes from the platform’s transactional fees.  There are currently 2 million of these DGD tokens in circulation, with holders being rewarded every quarter with DGX tokens.

Final Thoughts

DigixDao has a big advantage in being the primary player on the market, a so-called “first mover advantage”. The crypto market is crying for a stable token that can actually show that it is supported by an underlying value or asset. Hence the future prospects of DigixDao are looking bright.

We will be updating our subscribers as soon as we know more. For the latest on DigixDao, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Bullion Vault via Flickr

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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