In my opinion acquiring Fiat is the best way and the most reliable, exchanging a digital currency for gold, diamond, among others, has to exist many regulations and laws is very bureaucratic just thinking, I believe it may facilitate, but I still do not trust these projects proposing this type of benefit.
Topic: Are there any stable coins backed by real world assets? - page 2. (Read 255 times)
It would be great with a crypto backed by gold!
I'm looking to store my cryptos at the moment and I need somewhere to put them.
Any suggestions?
Get fiat, there is no other way, I have seen several projects that claimed to be backed by gold or diamonds and at the end everything was a scam, the only coin that is supposedly baked by something and that has being successful is tether but there are many suspicions in the community that tether is not a good project so you are better just turning your coins to fiat if you want to be sure to retain its purchasing power. Any suggestions?
Certain coins are just scams and - more or less - useless. However, if you have other altcoins such as Dash, Ripple, Litecoin, Dogecoin, etc.., there are usually several ways to convert to ETH or BTC. Poloniex, GateHub, GDAX, amongst others are all solid means of doing so. And if you had another type of currency not supported on these platforms, why not just liquidate it for cash, and invest that cash into whichever currency you had in mind? Percentage fees are usually very small, and this gives you freedom and flexibility to put the money wherever you want it.
Best of luck!
Best of luck!
Don't think so but then again those aren't the kind of coins I look for. Being candor I have heard about some gold backed and diamond backed coins but I don't know exactly how those ICOs fared and you would think if they did well you would hear about them now. Perhaps not the best idea in crypto...
I would argue when it comes down to it a lot of coins are assets. The token/coin represents an application on a network of computers. Let's take Ethereum for example. You can use the network to enact contracts thus creating real world value. You can send code to the network to be able to be accessed and have functions called upon from anywhere in the world. This has value to me and takes ether to do, so ether is an asset that will eventually be backed by the usefulness of the Ethereum network. There are a lot of utility tokens as well, for example golem which price will be backed by the usefulness of the golem supercomputer.
I'm looking to store my cryptos at the moment and I need somewhere to put them.
Any suggestions?
Any suggestions?
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