Quick Disclaimer: The information provided in this article/blog post should NOT be considered as investment advice. I am not an investment advisor and therefore do not offer individual financial advice. Please do your own research before investing.
In the last decade, several stablecoins have attracted many investors due to their resistance against market fluctuations and attachment to real-world fiat currency.
Gold-backed cryptocurrencies are stablecoins which have their value tied to that of gold and provide the same price stability and protection against currency instabilities or debasement. But a new gold-backed crypto has entered the market, bringing with it unique features that promote profit growth and security. This crypto is called Gold Secured Currency (GSX).
Who Is Behind GSX?
GSX is a new stablecoin asset that runs on the Apollo Blockchain, which was developed and launched by the Apollo Fintech company. Unlike other gold-pegged cryptos, the value of GSX is not only tied to gold reserves but the company’s mines and gold-rich domains as well.
The Apollo Blockchain is the first blockchain to have Database Sharding integration, and other new technologies to attain real blockchain sustainability. The GSX coins are backed by the 3,000+ acre platinum and gold mines owned by the company in African nations.
50% of the gold that will be produced from the mines and refineries will be attributed to backing the GSX coin, which is likely to positively affect the value of the stablecoin. The other 50% will be distributed to GSX holders as dividends.
Apollo Fintech will secure the future growth of its stablecoin by acquiring new lands with gold, opening a refinery, and expanding its mining operations.
The company was the first to develop and distribute a complete e-Government platform and National Currency Platform to nations that want to create their own cryptocurrencies. This year, they will also be launching Stratus, supposedly the most expansive social network.
What Is GSX?
GSX is an innovative cryptocurrency, with its market price tied to that of gold, which allows investors to protect themselves against losses derived from sharp market volatility, something common in regular crypto assets.
An additional feature that is unique to this cryptocurrency is its dividends system, where holders of the coin receive profits on a regular basis.
At first, GSX’s pre-sale price will be set at 0.046 cents, there is an extra bonus offered which decreases over time up until the pre-sale distribution ends.
The company says 50% of the coins that will not be sold in the Coin Distribution Event (CDE) will be burned by the company, and the gold used for their backing will be given to the rest of the GSX coins. By burning coins, the total supply is thus reduced, making the supply even more scarce.
GSX takes the security of a stablecoin, the trading benefits of a cryptocurrency, and the dividends of an investment coin to make an investment pegged to gold while incorporating the security and easy storage benefits of crypto/digital assets.
True Ownership
Through the yearly dividends they receive, coin holders have the same rights as trust beneficiaries and legal owners of the company, its mines, future refinery, lands, gold, and other associated properties and resources.
Audited Reserves
Apollo Fintech holds regular audits with reputable third-parties in order to prove that their gold reserves are real and that all coins are properly backed by the precious metal.
Easily Redeemable
According to APL Fintech, GSX can easily be redeemed for its gold value directly from its main platform. After the coin distribution event, it would be available in crypto exchanges.
Final Thoughts
As of this writing in 2020, the world is facing extremely uncertain and turbulent times mainly caused by the COVID19 pandemic, which has resulted in major economies all across the globe taking a hit due to lockdown measures and rising unemployment hence are slipping into recessions. Also, the escalating tensions between major superpower nations like USA and China has caused precious metals like Gold to breakout to price levels of a decade high.
Cryptos like GSX which are pegged to gold could be a good hedge against uncertainties, recessions, low interest rates and also fiat currency inflation caused by excessive printing by central banks.
Small allocation to gold backed assets is a good strategy more like a financial insurance policy.
Sign up using this link for an extra 5% bonus GSX.
Cheers.
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