Bitcoin Falls to $60K amid a Sharp Drop in Hash Rate and Turkey’s Crypto Payment Ban

After setting a new all-time high of $64,895 on April 14, Bitcoin fell to $60,811 for the first time today due to the decline in hash power of Chinese mining pools and the ban on cryptocurrency payments proposed by the Turkish government.

Today, the Central Bank of Turkey proposed a new regulation banning the use of cryptocurrency and crypto assets to purchase goods and services – on the grounds of possible damage and major “irreparable” risks in transactions.

Amid Turkey’s proposal, China also suffered a hit in a major crypto mining region. China accounts for 65.08% of the global average monthly hash rate for Bitcoin. The Xinjiang region contributes the most to the average monthly hash rate, sometimes making up as much as 35.76% of it.

However, due to the sudden flood in northwestern Xinjiang on April 11, a total of 21 coal miners working in the coal mine was trapped.

The incident caused the Xinjiang region of China to restart all aspects of security inspections. The power outage impacting security checks greatly affected the hash rate of many of China’s top Bitcoin mining pools, leading to a decline in processing power.

Source: Cambridge Bitcoin Electricity Consumption Index

Under this circumstance, the hashing power of Chinese mining pools dropped sharply.

According to related reports, Antpool crashed by 24.5%, Binance Pool by 20%, by 18.9%, and Poolin plummeted by 33%.

Bitcoin (BTC) subsequently turned from its previous stable state of $63K and reverted to a downward trend. At the time of writing, Bitcoin is trading at $60,833.

Bitcoin Price Analysis

Source: BTC/USD 4-Hour via TradingView

The bearish MACD index indicates that the bears are currently dominating the market. The Relative Strength Index reversed its direction towards overselling zone, which suggests that Bitcoin will experience a pullback.

The previous high of $61,781 is a critical support point. If the bulls can push the BTC’s closing price above $61,781, then the bullish momentum may prompt BTC to reach a new all-time high.

Conversely, a surge in the number of sell orders will push BTC below the $60,000 support level and may trigger a more severe correction to $58,000.

The US Congress proposed the Government to study the use of blockchain technology in commerce

The US Congress is currently reviewing a bill aimed at directing the government to study the use of blockchain technology in commerce.

US Representative Darren Soto introduced bill H.R.8153 to the House of Representatives on September 1, which was then forwarded to the Commission on Energy and Commerce on the same day.

“Direct the Secretary of Commerce, in consultation with the Federal Trade Commission, to conduct a study and submit to Congress a report on the state of blockchain technology and its use in consumer protection. used as well as for other purposes ”, according to

Soto, a Democrat from Florida, co-chaired the congressional blockchain caucus. Earlier this year, he urged the Ministry of Finance to use distributed ledger and blockchain (DLT) technology in the nation’s effort to mitigate the economic impacts of the corona virus crisis.

Soto’s bill is also being co-sponsored by Representatives Brett Guthrie (R-KY) and Doris Matsui (D-CA).

In May, Guthrie introduced the Advancing Blockchain Act, which calls for a similar examination of blockchain technology by the Federal Trade Commission and the Minister of Commerce.

The bill will direct the FTC and other relevant federal agencies to conduct a survey on industries using and developing blockchain technology, and to use that survey to set directions for strategy. blockchain country.

These 4 altcoins will increase your investment by 10 times, according to trader Jay Freed

Crypto trader Jay Freed has named four altcoins he believes can turn a 1,000 crypto investment into 10,000 in the next 30 days.

Reef Finance (REEF)

Reef Finance is a multi-chain smart liquidity aggregator and profit tool that allows integration of any DeFi protocol. Freed mentions that the project is already backed by Polkadot, but it will also take advantage of the liquidity of many other chains.

“This is a very interesting project. You can see a lot of projects under construction on Polkadot will start to explode. So stay tuned for Reef. This is an altcoin that can take advantage of liquidity in different exchanges whether it is centralized or decentralized.

Crypto trader also analyzed the price chart for the 90 days and said that the price will rise soon.

Reel Finance 90-day price chart | Souce: Coingecko

“The price is currently trading just under 4 cents. If we look at this, what is interesting. Looking at the 90-day chart, it is clear that the price is low, so you can expect a little more than 5x to higher. But we see this downward channel right here, and that’s not good. What we see, however, is that it is breaking lower highs and now there’s an upside channel forming and I think that’s really positive news. “

Cosmos (ATOM)

Freed’s next choice is Cosmos (ATOM). He pointed out that while this is an interesting project and it is at the same stage as Cardano, Polkadot, and Ethereum 2.0, it is not getting as much attention and respect as it deserves.

From analyzing the 90-day price chart, traders think this is a great time to start investing in this project.

Cosmos 90-day price chart | Souce: Coingecko

“This is a big project but I don’t think it has received the respect I expected. You can see the 90-day chart has risen. There has been a sizable pullback since Feb. 16, which is quite nice and is now starting to break out of that level, so I think this is a great time to invest. ”

The ADA of the Cardano network

Next on Freed’s list is the ADA of the Cardano network, one of the most interesting cryptocurrencies in the world recently.


And finally Freed named PancakeSwap, a large decentralized exchange. According to the trader, the reason he chose PancakeSwap is that it has a cheaper gas fee than Ethereum and it is used on the Binance Smart Chain network.

“The reason I chose decentralized exchanges is because it’s so big and they’ll get bigger and bigger. I chose PancakeSwap today because you all saw that I was “robbed” of a previous Reed transaction when I swapped with Ethereum and had to pay a gas fee. I know there are other altcoins but we can use Pancake Swap easily because of it to take advantage of Binance Smart Chain ”.

Mark Cuban thinks DOGE will soon hit the $ 1 mark

Dogecoin price will need to increase by more than 1,800% to reach $ 1, which Mark Cuban thinks will happen after fans of the Dallas Mavericks basketball team spent more than 6 billion DOGE to buy merchandise.

After just three days of accepting Dogecoin (DOGE) as a form of payment, Dallas Mavericks owner Mark Cuban predicts the price of the token will eventually reach $ 1.

In a tweet on Saturday (March 6), Cuban said customers used more than 20,000 DOGE – about $ 1,018 at the time of publication – in transactions for the Dallas Mavericks.

He also stated that the Dallas Mavericks is currently “the biggest Dogecoin store in the world” and that if basketball fans buy Mavericks goods worth 6,556,000,000 DOGE, the price of the token “will reach $ 1”.

“Dallas Mavericks has executed over 20,000 Dogecoins in transactions, making us THE LARGEST DOGECOIN STORE IN THE WORLD! We thank all of you and can only say that if we sell an additional 6,556,000,000 DOGECOIN of Mavs merchandise, Dogecoin will reach $1”.

Mavericks was one of the first NBA franchises to recognize cryptocurrency as a form of payment for tickets and merchandise, accepting Bitcoin (BTC) through wallet company BitPay two years ago. Mavericks fans can also pay for equipment and souvenirs with Bitcoin Cash (BCH), USD Coin (USDC), Gemini Dollar (GUSD), Paxos Standard (PAX), and Binance USD (BUSD).

Despite being created as a joke, DOGE has soared in the past few months as billionaires like Cuban and Tesla CEO Elon Musk mentioned it on social media. Musk’s tweets may have contributed to the DOGE price rise from $ 0.01 in January to an all-time high of $ 0.078. At the time of publishing, DOGE is currently trading at $ 0.0515, which means it will need a 1.864% increase to reach $ 1.

DOGE price chart | Source: Tradingview

The owner of Dallas Mavericks has previously described DOGE as an “economic teaching tool”, saying that the token is “the best entertaining engine for your money out there” in the crypto market. Even as DOGE payments skyrocketed for the basketball franchise, Cuban was happy and didn’t change his opinion on the token.

Yearn Finance is Cronje’s raw gem

The cryptocurrency space and decentralized ledger technology (DLT) is heating up right now, both in value and in growth.

Total Capization of the field of 1,7 USD rate of before. Private Bitcoin used 1 dollar rate. Furthermore, according to data from CoinMarketCap, the number of projects is at 8,697.

In addition, a recent analysis by The Block Research revealed the DeFi space is the fastest growing area of ​​the market. This is after the general value (TVL) in the time is not grow up 3 times this year.

Indeed, the increased popularity of the DeFi space stems from the impressive growth in the space, in part led by Andre Cronje’s Yearn Finance. As was stated, the DeFi developer was also named DeFi character of 2020 by DeFi Prime.

This article will dive into Cronje’s flagship Yearn Finance project, about the launch of its original license release, dig deeper into the famous vault (vault), and explore the “ testing in product for development.

Publishing company

Launched on July 17, 2020, Yearn Finance is the main recommendation platform for the tough year “DeFi summer”. The platform was developed on the Ethereum network and is Cronje’s answer to the world of regulatory constraints on DeFi.

At that time, explore and research a lot of pool staking in negligible time and resources. This makes it impossible for those new to the cryptocurrency to access the space.

Cronje’s idea is to become the center of all the swimming pools in the space, meaning productive farmers (profit growers) need only one place. Although not a completely new idea, Yearn also has a small touch: the license model.

YFI has a maximum supply of just 30,000 tokens. Unlike many other platform’s token stubs, including BTC, YFI provided all of these tokens from the get go.

However, the unique truth with YFI is that everyone, including Cronje, other developers and Yearn participants have an equal chance of getting shares. Developers do not reserve any tokens for themselves.

Indeed, this immediately made the platform popular, and the DeFi community named the approach the “Equal Release Model”. Maximum supply has since expanded to 36,666 tokens, following a community vote to enjoy for developers.

Memorable summer

But of course, the initial release and the respective supply is small, so the magic should be done with YFI’s price tag.

YFI / USDT 6 months | Source: TradingView

Originally priced at just under $ 30 but YFI has increased in price to as much as $ 40,000 per token in less than 2 months. This investment school capitalization was given its up to more than 1.3 billion dollars.

After 6 months, YFI ranked 58th out of 8,697 cryptocurrencies, according to its market cap. Or better yet, the platform currently has TVL Approximately $ 310 million, giving it the 18th spot in the DeFi space at the point of writing.

Certainly, the company that released the model is novel with admiration and the cause of the popular transforming credibility platform.

Join the Vault

The Yearn platform is comprised of a number of factors. The first is the Rate Annual Table (APY) that shows the annual interest available through zoning in some loan pools on the DeFi space.

Yearn set this table in the size APY in a product with name Earn, allow user to quickly and easily review the best exchange rate. But the platform’s surrender is the Vault.

Yearn Vault is a set of investment strategies that aim to extract the highest level of income of all the lending pools linked to the platform. We operate by either automatically selecting the top Monetization pools or through user adjustment and investment funds.

Vault basically automates the productivity (profit farming) process. Indeed, products that simplify the process of making money on DeFi, and alleviate the previous learning curve are a deterrent to entry.

Accordingly, this is the main reason why the platform is back so popular. In fact, Yearn was recently included in an upgrade for another product called Zap, wrapping all that in with just one mouse eye.

Although the term is often combined with both Yearn and a dual DeFi when impurities appear, Yearn has done an excellent job in the simplification process.

However, despite the tremendous achievements in development over the past 9 months, Yearn is still just an experiment as Cronje is often emphasized.

Test in product

This thing can be viewed through the speaking language “I experiment in product” by Cronje. Essentially, the developer focuses on Yearn development and the platform is currently experimental.

He said this clearly on Twitter:

“When I built the software, I built it for myself. If you want to match with it, please be careful, there will be an error ”.

However, this seems to be aimed at some of the platform’s “investors”, or as he calls them “ape,” who quickly cite the developer after a exploit or discovery was made.

Indeed, Cronje recently wrote about his experience in an article on Media, which also motivated the use of the aforementioned supply to indulge in Yearn’s developers.

While such “investors” are likely to only participate for money, they can set up testing opinions during production that will keep users moving.

Last month, a hacker mined one of Yearn’s vault worth $ 11 million, when the hacker took away only $ 2.8 million. Several other DeFi platforms following Cronje’s approach have also been exploited.

Including SushiSwap (SUSHI), Alpha Finance Labs (ALPHA) and CREAM Finance (CREAM). Testing a good experiment, however, is not purely in experimentation, but rather how it adapts to new information.

All of the aforementioned projects are derived from those attack tools and continue to work today.

The future of finance

In fact, Cronje was praised not only for Yearn but also for his assistance in investigating all of the above mentioned mining services. Finally, the popular publication focusing on DeFi – DeFi Prime has called Cronje the DeFi Person of the Year 2020.

Furthermore, not only do vulnerability patches make this platform stronger, but both Cronje and Yearn encourage a new sub-area in DeFi: platform protection.

For this, Cronje and Yearn Finance will likely continue to lead the DeFi space, both through technology development and the development of new ideas.

Most frankly, Yearn Finance could be the future of finance, just as French financier DeFiGod used to be called “The Future of France”.

Olymp Trade reveals 5 important things you should do in trading coin

Online trading has become one of the great tools for the average person to get a part-time job or even replace their income, and thousands of new investors enter the market every week. Trading online seems complicated so we will give you some important tips on trading on Olymp Trade, one of the top online brokers globally.

Many people are interested in starting to trade and some are already in trading but still want to avoid making costly mistakes and win more deals. Here’s what you need to know to get the most out of your trading experience.

  1. Choose a good broker and reduce fees and commissions

It may seem like a no-brainer to say investing, but you want to keep your trading profits as high as possible, and there are many online brokers who charge very high commissions and fees. Some of the things you need to consider when choosing a broker are the deposit / withdrawal fees with your account, commissions on transactions and account setup or maintenance fees.

The specifics of these fees vary by broker, so it’s best to check these out in advance. There is nothing more annoying than that, after making a successful trade, you find that the majority of your profits go back to the broker.

Of course, we encourage you to learn about the Olymp Trade platform, where you will find extremely reasonable and no client commissions, but do your research and compare before you deposit. money into your account and don’t be afraid to switch brokers if you’ve already started trading with a certain broker, but want to find a better option.

  1. Start learning about markets and trading – It’s not as complicated as you think

Market charts and various tools for monitoring and analysis seem a bit overwhelming once you start trading and even experienced traders often fail to grasp how to use trading tools. this.

However, with just a little effort, you can become very knowledgeable about how the market works, what kind of events affect prices, and when to open and close trades with the highest probability of profit.

Luckily most of the good brokers will not only provide you with a free Demo Account when you create one with them, but they also provide tutorials and other training resources to get you started quickly. How to use their platforms and utilize successful trading strategies.

Be sure to check out the analytical tools and resources your broker offers and make sure they’re free or very low cost as you start your trading journey to make money – that means is that you won’t have to spend more.

  1. Practice trading on your demo account before investing your money

Good brokers will give you a sizable sum like $ 10,000 virtual currency as illustrated above in Olymp Trade Demo Account so you can get acquainted with the platform without risking your money. me. Also, make sure your Demo Account gives you access to all the analytical tools like indicators and training materials you’ll use in your real account.

You will want to start by learning about moving averages, oscillating indicators, and some basic trading strategies. Knowledge of these will give you a solid foundation for future growth as your skills improve.

Use your newly acquired knowledge to establish a trade amount and then try to double that amount. For example, trade with 1,000 $ your virtual currency on a Demo Account and practice the strategies you have learned until you double it at least once before moving on to real account trading.

  1. Don’t gamble – treat trading as a business by following an effective strategy

One of the biggest mistakes new investors make is that they begin to “speculate” on market movements based on instincts or emotions. Although they will sometimes trade against one of their premonitions about the market, most of the time they will lose and then eagerly enter into another trade to correct their losses and later. then they lose more.

When frustrated with failure, they abandon the transaction and often blame everyone and everything around them for their failure.
This is why it is important to treat the transaction like a business with an effective trading plan. Successful and consistent businesses (and traders) get there because they develop a plan based on good information / guidance (please see section 2) and then they do. show your plan and make small adjustments along the way.

When good businesses make mistakes and lose money, they learn from them by stopping and analyzing what went wrong and how they should adjust. They are careful to record transactions and do not take risks with their money.

Traders, both new and engaged, will be best served by following this example as it will help bring growth over time and ultimately success.

  1. Learn from successful traders

One of the biggest mistakes in trading is that “good traders hide all their secrets.” Nothing could be better than the truth. Good traders are useful lessons for others, especially those with backgrounds similar to them.

There are thousands of traders who offer trading instructions on the internet through videos, blogs, and many other platforms. Therefore, we recommend working with your broker to get help in developing your trading skills.

Most of the best online brokers offer webinars as well as strategy development programs for their clients. They are often supplemented through contests and other events designed to help their clients become more successful traders.

Some brokers like Olymp Trade even provide professional support from financial analysts or trading specialists to help clients achieve higher profits and maintain blogs for traders to have. can regularly update her trading strategies and career news.


Follow these simple steps if you want to get off to a great start in trading or simply want to improve your existing trading experience. You will hardly find any successful trader that has not benefited from the perks listed above.

Be patient, cautious and professional and you will soon be rewarded with your efforts. Have a nice transaction.

What is Stakingcoin? Which coin should staking?

If you are already in the crypto market, it is certainly impossible not to know a very attractive passive money-making method – StakingCoin. So what is StakingCoin? What are the benefits of Staking? And why do investors prefer StakingCoin?

What is Stakingcoin? Highlights for a new protocol

StakingCoin applies a new POS protocol that contains many advantages over the old protocol

2020 seems to be the year of StakingCoin, as the term is repeated on every cryptocurrency forum. So what is staking that attracts so many investors?

What is StakingCoin?

Staking is the act of holding a certain amount of coin in the wallet or Nodes / Masternodes of a Blockchain project for a period of time in order to receive a reward. This bonus is based on the effort spent including: stake amount, stake duration…

What protocol is staking application?

Staking application of POS algorithm (Proof of Stake) is a consensus algorithm in Blockchain. In which participants will stake their coins to the Blockchain network to validate transactions and create new blocks.

Compared to the POW (Proof of Work) algorithm that created two generations of Blockchain, Bitcoin and Ethereum. POS not only does not depend on bulky, energy-saving and environmentally-friendly machines, but also helps investors to own coins more quickly. Therefore, POS is gradually becoming more popular and promises to become the next protocol to replace POW.

Which coin should staking?

Tron (TRX) is ranked 15th on Coinmarketcap

When choosing projects to stake, you should pay attention to cryptocurrencies with a fixed supply. At that time, the market will maintain a strong need for ownership and help that coin increase in price continuously. And of course, you will also get higher returns.

To do this you must choose the coins that are in the top 10, top 20 on CoinmarketCap. And one of them is TRX.

TRX is a cryptocurrency created by Justin Sun (Yuchen) as the face of Jack Ma’s Hupan University. Co-founder of Peiwo App and Chief Representative of Ripple China.

It’s not that simple that Tron is considered the third generation of Blockchain behind Bitcoin and Ethereum. Dong Tron has advantages that make many famous investors such as Warren Buffett, Jack Ma, … all want to own it. With circulating reserves of 66 billion USD. In which $ 33 billion is potential for StakingCoin and coin minting. Tron has always been evaluated as a coin capable of directly competing with traditional payment systems such as VISA, SWIFT. Making payments with Tron coin more convenient.

Leading the TRX staking trend on the service platform

One of the ways to make a profit from TRX price is “staking”. Because staking itself limits the amount of circulation in the market. As a result, the more demand for ownership increases, their value will also increase.

Seeing an opportunity from “staking” TRX. has built the Staking TRX program with attractive interest rates for investors. Providing solutions for investors to join and own digital currencies and increase profits from it.

StakingCoin’s platform will help investors and organizations get a passive income from 100% – 180% annually through the form of deposits.

Thanks to the application of the POS protocol (Proof of Stake) by StakingCoin, investors do not need to spend the cost of investing in highly configurable, expensive machines to dive into the war of mining. All you have to do is stake coin right on your wallet.

Not only that, StakingCoin also provides high-performance servers, broadband and advanced network topology that allows up to 99.9% real-time display and rapid block generation. This is the greatest advantage that helps StakingCoin outperform any staking project.

Therefore, when staking coins at, you will get a much more attractive profit. It can be affirmed that investing in StakingCoin is a capital of four words: the profit from the investment package, the direct commission, the branch commission, with the promotion policy are extremely attractive objects such as: Hublot watches. , Madza car, villa, … Accompany it is profit from the price increase of Tron (TRX) – reward from staking coin. When Tron staking takes place, it is certain that the price of Tron will double or triple in the future. Investors can take advantage of this wonderful opportunity to make a profit.

You think that’s all?

Be prepared for a storm of money from StakingCoin. In addition to the profits listed above, you will receive a bonus from the StakingCoin start-up program with rewards worth up to $ 2000. Up to now, it is rare for a staking project to bring such huge profits. This proves the real growth potential of StakingCoin. Ensuring your capital investment will always yield “automatic” returns.

TRX staking will bring great advantages that you cannot ignore. Even as a new investor, staking is also a way for you to gain attractive passive returns. Remember, investing staking requires patience, patience, and patience. The more patient you will get the reward you deserve.

Do you want to be financially free, do you want your wallet to increase every day. Then StakingCoin is a great choice. StakingCoin is a method that helps you to have extra “passive income” easily. If it were you, would you sit still at this wonderful opportunity?

Become the first investors of StakingCoin. To find out more about the project, visit the official Staking Coin media channels as follows:

Telegram group:

Uranium One and Insolar jointly explore Blockchain for the energy and uranium ecosystem

Global energy leader Uranium One and distributed ledger technology company Insolar are pleased to announce a joint research initiative to explore opportunities for blockchain deployment on the main pillars of the ecosystem. energy and uranium transactions worldwide. This partnership represents a major milestone in realizing Insolar’s broader goal of energizing all non-exchange-traded, traded commodity markets. translates more than 380 billion dollars per year.

The two companies will focus on the uranium industry, which is expected to increase demand from 67,600 tons per year to 84,850 tons per year over the next decade. The industry is an ideal candidate for Insolar’s distributed ledger (DLT) technology because of its global size and influence, as well as because uranium trading is still done manually with Cross-border non-standard contracts and require tedious legal review. Furthermore, the production and distribution of uranium requires complex coordination and agreement between many different parties that can be streamlined, transparent and reliable using DLT.

In addition to partnering with Uranium One, Insolar will research more generic blockchain applications for all non-exchange commodity markets. These markets are the way the majority of commodities, like iron ore, are traded today, and they are naturally decentralized without intermediaries, making DLT the next step in their evolution. . Insolar forecasts that its platform can shorten the OTC transaction cycle from months to weeks, reduce transaction costs by 40%, or billions of dollars per year (perhaps even tens of billions). .

“OTC commodity trading is a picture-perfect use case for DLT. This is a huge market with outdated manual processes, complex multi-party negotiations, and no intermediary exchanges. The partnership with Uranium One, an industry leader, will demonstrate the enormous potential of solutions that bring commodity trading to the future while dramatically reducing our costs and saving our time. ” Said Wilfred Ruijsch, Senior Enterprise Project Manager at Insolar.

As a diversified energy company, with one of the largest uranium production operations in the world, Uranium One sought a reliable research partner with a mature background that could ensure security, compliance player and reliability while providing transparency and promise of blockchain technology. Insolar and technology Assured Ledger focus on next generation business is the natural choice.

“We are exploring the potential that the deployment of new technologies can offer in our very specific areas of activity,” said Fletcher Newton, President of Uranium One Americas Inc. said. “We are full of hope for the implementation of these new technologies, although we note that in such a traditional market there are reputable and enduring ways of doing business. Care must be taken in considering the use of such new technologies ”.

About Insolar

Insolar is a leading innovator in DLT technology worldwide with a vision of enabling a new, open, connected and collaborative world. Insolar’s patent-pending Assured LedgerTM technology helps businesses ensure consistent, transparent and secure data exchange. Leading businesses, including Fortune Global 500 companies choose Insolar to help them build innovative products based on Assured LedgerTM. The Insolar team consists of 80 people from all over North America and Europe and has a unique blend of core technical talent and blue-chip business expertise.

For more information visit:

Introducing Uranium One

Uranium One is a global energy company and one of the largest uranium producers in the world, with a diverse portfolio of assets worldwide, including in Kazakhstan, the United States, Tanzania, and elsewhere.

Bitcoin is your biggest monetization opportunity in the Super Bowl

If players around the world are thinking about betting on the Super Bowl, they should do it with Bitcoin., the casinos and sports goods filled the world have decided to offer odds for the Superbowl without profit on the Winner market. This is a corporate effort to promote their new betting website to the cryptocurrency community and ensure creating the best odds a bettor can find.

Not only that, in addition to having ZERO margin in the NFL final, all live bets placed on Winner markets in the Super Bowl will be settled as a winner if either team wins 15. previous point.

And the 54th super classic “Super Bowl” will take place in Miami, Florida, USA between Kansas City Chiefs and San Francisco 49ers.

The pundits at are expecting a classic match between the two teams with a slight edge in the Kansas City Chiefs.

Reasons to buy and hodl Digix Gold Token (DGX)

During the period when the price of Bitcoin and other coins & tokens is volatile like today, investors tend to keep stablecoins to minimize risk. DGX is a gold-backed stablecoin that is being interested and selected by many investors.

Digix Gold Token (DGX) is a stablecoin guaranteed by real gold, 1 DGX = 1 gram of 99.99% LBMA gold, this gold is completely kept in the Safehouse vault. With the USD price becoming volatile, experts say that DGX is a future stablecoin trend. Here are four reasons to buy and hodl DGX.

Stable in price, but capable of growth

Stablecoin stability depends on its collateral, for example Tether (USDT) depends on US Dollar USD. However, the USD or other fiat currencies often fluctuate, especially when there is a change in the political-economy of the issuing country or the forecast of an imminent economic crisis.

Gold – the asset used to secure DGX, is a rare and precious metal that is considered to be an asset to stabilize its value and grow large, preferred when thinking of accumulated speculation. As a result, DGX is the stablecoin chosen by many investors.

Safe gold storage and investment channel

Gold in pure ingot form is quite expensive and difficult to store safely. With DGX, bullion is converted into blockchain-based tokens, keeping DGX is similar to storing “gold” in wallets on phones and computers. DGX platform users keep, convert and convert electronic gold and have peace of mind that their assets are stored and secured in warehouses in Singapore and Canada.

Owning gold at an affordable cost

Normally, for 9999 gold, investors need to either buy the whole bar or buy with thread, buying gold with only 100,000 VND is impossible. But with DGX, investors can own gold with small units and budgets on a very convenient electronic platform.

Advanced and transparent security technology

DGX is one of the two main tokens (along with DigixDAO – DGD) of Digix Global ecosystem, a Singapore project with the aim of building property rights on Blockchain. DGX uses the Proof of Provenance (PoP) protocol on the Ethereum blockchain which requires validation from all 3rd parties to ensure every process is safe and secure. Allocation gold bars will be recorded completely on the chain in a transparent manner.

Currently, users can buy DGX at major exchanges like Bitfinex (being present on Bitfinex is a guarantee of DGX’s reputation), VCC Exchange, Kyber Network, etc… At this time, you should Buying on VCC Exchange because there is currently 25% airdrop for DGX holders, in addition, it will be more convenient to research gold investment in VND on a crypto platform.