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.