Worlds First Cryptocurrency with Perpetual Growth in Value

Jul 21, 2020 10:50 UTC

| Updated:

Jul 21, 2020 at 10:50 UTC

By Clark

Since Bitcoin (BTC) first appeared, many types of cryptocurrencies have been developed, having different features and use cases.

Gold-backed cryptocurrency is a type of crypto that belongs to the stablecoin class, in which each token is backed with physical gold. Stablecoins are a special category of cryptos, as their value is pegged to the price of a certain real-world asset. These coins were designed to have less price volatility than Bitcoin or other altcoins.

The most well-known stablecoin is Tether (USDT), and the value of one coin is 1 USD. While using fiat to back up a cryptocurrency is a good way to ensure price stability, gold is the most obvious choice.

Bitcoin has been regarded as the new gold by many crypto enthusiasts, and back in 2017, when the price soared, one BTC valued as much as one ounce of gold in USD. Around this period, the interest for gold-backed cryptocurrencies started surging.

Although there were attempts to make digital gold currency prior to the apparition of Bitcoin when blockchain technology established itself as a secure recording method, the era of gold-backed digital currencies started.

But a new gold-backed crypto emerged on the market, Gold Secured Currency, which integrates an innovative feature that makes it stand out from the rest of its kind.

While GSX has its value tied to that of gold, it is also the first cryptocurrency that increases value indeterminately. GSX combines the asset backing feature of a stable coin, the advantages of a cryptocurrency, and the dividends of an investment asset. The unique aspect of GSX is what makes coins holders like company shareholders, as they receive regular profits for their assets.

How Does GSX Differ from Other Gold-Backed Coins?

Based on a new and advanced blockchain, called the Apollo Blockchain, GSX is not only backed by gold reserves, but by the companys mines and gold-rich lands.

Apollo Fintech is the company that developed Apollo Blockchain, the first blockchain to integrate Database Sharding and is working towards achieving real blockchain sustainability. The company was also the first to create and sell a complete e-Government platform and National Currency Platform, which allows for developing and issuing national currencies.

Yearly Dividends and True Ownership

Apollo Fintech backs coins from its 3,000+ acre platinum and gold mines, and as the mines and refineries make more gold, 50% of the gold resulting from the mining will be used to back the GSX coin, thus consistently raising its value more and more. The rest of the 50% will be given to GSX holders in the form of dividends.

GSX will initially have a price of .046 cents, but as time goes on, its value will increase. In the crypto world, when a new token is launched, there is no way of knowing for sure if its price will appreciate at all, and investors always fear to lose their money if the value goes down. The volatility of cryptocurrencies is susceptible to many external, unpredictable factors, such as media news or speculation.

But a gold-backed crypto always follows the price of gold, and there is no need to worry about sharp price fluctuations that might put in jeopardy investments. GSX is thus the first coin to keep a stable minimum asset value, which perpetually grows in price.

The company will burn 50% of the 10 billion that is left unsold in the CDE, and the value of those coins will be allocated to the remaining GSX coins. Burning coins is a common practice in the crypto world, as many projects do so in order to reduce the supply and drive coin price up through the scarcity effect.

GSX will certainly increase in value after burning, as the gold from the burned coins will be delivered to the rest of the cryptos.

To secure the value of its coin, Apollo Fintech will invest in new lands with gold, open a refinery, and enlarge its mining operations. The company will also be launching this year one of the most expansive social networks in the world, which is called Stratus.

By receiving dividends, holders become trust beneficiaries and legal owners of the company, mines and all equipment and buildings, the future refinery, lands, and gold. With other coins, even though they offer some form of rewards for holding the asset, they do not have true ownership over the company, its properties or resources.

This ownership is established by the trust set up by the company in which 50% of mining operations will be deposited. Based on this trust, GSX holders will enrich their balances with yearly dividends.

A common issue with fiat or gold-backed coins is the validity of the reserves used for the backing. This is why the company of GSX will conduct regular third-party audits to prove they have the necessary reserves.

GSX coin can be easily redeemed for its gold value, allowing users to reap the rewards of their investment easily and without having to go to various exchanges to make the trade.

Gold Secured Currency merges the best elements from a stable coin, cryptocurrency, and investment coin to provide a new investment asset that is not only stable but a sure way of receiving profit.

GSX is adding much more gold-rich land in the near future, so the value is expected to increase. It is worth mentioning that GSX successfully combines all the best elements of cryptocurrency in a single trust secured coin.

Clark

Head of the technology.