While "crypto backed by gold" sounds great, I'm not sure anymore if the advantages are worth it. It makes cryptocurrencies non-trustless again so it defeats their purpose. I guess a fixed, deflationary supply with PoW mining is enough for a coin to have value.
Most coins backed by precious metals offer you the opportunity to sell your coins for physical metals but that's just centralization. You simply can't create a decentralized physical gold transfer - and they request your personal information too & KYC. It's a much less hassle to simply buy real gold (or gold stocks) than purchasing these kind of tokens. So that's a no from me.
Topic: Is there any successful precious metal crypto? - page 2. (Read 262 times)
I don't think there is any real precious metals projects in crypto space, I was once so obsessed with gold backed tokens but I end up losing lots of money on them, they lose value fast, meaning it's was all planned by the fake team to dump
I'm sure you are talking about gold backed tokens and coins or silver backed token, sorry to tell you this but they are all scam projects, all those projects were build on lies, they aren't gold company and they don't have any gold in their possession, it's all base on empty words
Since the beginning of cryptocurrency we have seen many precious metal crypto project. With my little knowledge i don't know any successful one. All precious metal crypto projects disappeared after funding phase. Is there any successful precious metal crypto and traded?
Metal crypto, what do you mean? Do you mean a name with Gold, Silver, Platinum, etc.? If it is what you meant, they are shit coins and have no values at starts and at the ends.If you would like to find a good cryptocurrency or token that is backed by precious metal, like gold. The digital GOLD token is a good one. You can visit their website for more information on the project and its marketplace.
ANN, Website, and Marketplace
Since the beginning of cryptocurrency we have seen many precious metal crypto project. With my little knowledge i don't know any successful one. All precious metal crypto projects disappeared after funding phase. Is there any successful precious metal crypto and traded?
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