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DigixDAO Poised to be the Future of Gold

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DigixDAO
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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

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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

Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Why ZCash (ZEC) Is Heading to $10k

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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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