Gold backed Coin / Token

[magd 5231]

The presence of gold in the crypto market is a good thing that occurs through the merger between the world's strongest economies and it gives a great opportunity for traders who have concerns about some cryptocurrencies so that they can invest in gold-backed currencies in the safe and long term

[lharost 1526]

Certainly not all of these gold backed coins are scams, I know for a fact that DGD and DGX are legit projects and they have been in crypto market for a long time without any issue with their investors, but it is true that the number of scam gold backed coins is increasing and that is because investors want assurance from the ICO teams that they don't lose their money and a gold backed coin gives them this assurance.

[bitcoin-shark 1928]

On 12/16/2019 at 7:51 PM, sportlopez9000 said:

There are a ton of gold backed tokens and coins right now. There are too many of these and some will die out. There is TOO MANY going on right now. I'm sure most of them will not work out. This gold altcoin space is so crowded that it is hurting eachother. For example, prepare yourself for a long list of almost all current working gold coins: 

.. see this is too much. Think about how much time you would have to take to research that these token companies are not frauds. You are better off just investing in bitcoin.

actually there are really too many it would be practically impossible to research all of them to see if they are valid or scam, there should be only two or three really trusted to choose from

[Saboor 511]

On 5/6/2020 at 6:01 PM, bitcoin-shark said:

actually there are really too many it would be practically impossible to research all of them to see if they are valid or scam, there should be only two or three really trusted to choose from

There are well known coins that are back up by gold and those coins are always not performing good in the cryptocurrency and it will be better if we should invest the little we can afford on them

[Upright 2688]

Coins and on project will bring of features which will actually be convenient to bring publicity into their reign, as coin backed by gold, then it's value had to really be high and the really dealers if it's actually being projected and created to work as talked about

[MrGox 880]

There are a lot of advantages of crypto-world, in my opinion it is just one of them and it doesn't look as scam. Gold backed coin means coin, whose value is the same as price of gold. 

[Rezort 846]

I didn't see any legit cryptocurrency which value was based on gold, so I would not recommend you to invest in such coins or tokens, only if you know that it is trusted crypto.

[john1010 80]

I'm not 100% sold out with this kind of project using gold as a platform or to lure investors, If you have a gold you don't have a cryptocurrency isn't it? In my opinion they are only using it to attract investors.

[gourav789 2834]

@Upright obviously mate , gold is really a trusted coin . if it is backed by other coin then this is sign that coin is good as well trusted to invest .

but really I want to invest in top 10 or 30 coin according to coinmarketcap , because their is higher chance that we get profit from it. 

[Ahmad7402 1]

I never think it's a scam

[crypto1ife 55]

On 15.12.2019 at 13:53, cryptosix said:

I am seeing few of the projects are coming with the sentence of Gold backed token, Is this is a scam or what? The gold price doesn't meets to the price of Crypto as we already know, then how does these projects fool people telling the coin is backed by pure gold.

What are your thoughts on such projects backed, stable, dependent, on Gold.

I think that all these Gold backed projects are just fake. They are just trying to show us how stable their coins are and that we can be sure in their value. But it's not so, because the real value of cryptocurrencies is in their technology and in the issues they aim to solve. That is the real value of coins but not some gold somewhere in the world that become "yours" when you purchase such tokens. 

[Jromz 2158]

Given the current global economic situation, gold backed cryptocurrencies seem like a promising project. Keeping in mind that gold price tends to increase as a result of economical crisis, investing in this kind of tokens may offer people a good way to have exposure to gold. Naturally, one has to be cautious and do extensive research before investing on any project. The risk might exist, for example, that there is no actual gold backing up certain token.

 

 

[talattabi06 2]

I don't think the idea of gold-backed coins is a very good idea. Because the divisibility of gold is limited.

[Jesika 225]

Interesting topic, even recently I was in an airdrop in which their chips were backed in Gold and it was a scam, not all projects that are backed in Gold are scam

[matias estigarribia 1605]

Not necessarily all gold backed projects are scams! Perhaps in the future I will be encouraged to invest in this type of project when there is more information. Meanwhile I prefer to stay on the margins

[jasinhodpg77 119]

I once tried to collect an airdrop that was supposedly backed by gold and it ended up being an outright scam !! not all projects that implement the gold standard are false, but you have to be careful with them!

[Kobitor 34]

The gold price doesn't meets to the price of Crypto as we already know, then how does these projects fool people telling the coin is backed by pure gold.In any case, there are organizations that work legitimately with the buy and closeout of gold and that are starting to move toward the universe of cryptographic forms of money.

[JanBomCrypto 494]

On 5/5/2020 at 11:52 PM, magd said:

The presence of gold in the crypto market is a good thing that occurs through the merger between the world's strongest economies and it gives a great opportunity for traders who have concerns about some cryptocurrencies so that they can invest in gold-backed currencies in the safe and long term

But to be honest, I still find it difficult to believe some coins are backed by gold, I have seen son on coinmarketcap but I think they are just not true. Although, they make use of the price of goo which can make the buying and selling  just perfect. But, if true they are backed by gold, it is a good idea which means as you buy the coin you are holding such amount of gold with the company that has the project. 

[setifien 1016]

4 hours ago, JanBomCrypto said:

But to be honest, I still find it difficult to believe some coins are backed by gold, I have seen son on coinmarketcap but I think they are just not true

You are right, even if the team mention that their coin is backed by gold, it may not be the case since gold value changes over time and has no fixed price, and this makes me wondering why do they choose something fluctuative as price reference for a given coin/currency

[toprakdere 154]

gold backed coin is an abandoned currency and has not been heard from for a long time.

Contrary to its name, this currency is a Token that operates on the ERC20 network. And according to block explorer, this contract has not been traded for a long time (the last one was 196 days ago)

The last Twitter post related to this project is related to 2019, and it is also stated in coingecko that coin is inactive

[adem1 294]

There are many comments about the gold-backed coin. It is not clear whether it is real or not. Maybe it will become reality over time.

[fanylu 505]

These projects are not a scam and they are legitimate, they work well in cryptocurrencies but Bitcoin is the best to invest without a doubt even though we always look for an alternative currency to increase our income a lot.

[Jandancoin 482]

On 12/16/2019 at 9:00 AM, crypto1 said:

If you be able to share these Gold backed token project, if these project are not scam and legitimate then they can perform great in crypto world. 

Some are likely scam, it is we that needs to be careful while many are legit. Like the PAXGold is legit. It is the one I have known so far and many exchanges support the coin. Before dealing with any cryptocurrency, you need to know much about the project. 

[Frodler 943]

I believe a gold backed coin will be a very good idea because The Prestige that gold has will be transferred to that particular coin and that coin will have the potential to become more valuable than even bitcoin (just a personal view😊) 

[Relium 424]

i think there is 2 different opitons of gold based stable coins. first one is paxgold and second one is gold tether. i dont really trust gold tether but paxgold could have a really great potantial for investing gold on blockchain.