More than Luck: How Gold Trading is letting the Unbanked Secure Wealth
The bitcoin-fiat exchange market has exploded over the last year, but it isn’t alone. In 2015, amid currency swings in the Russian ruble and the Euro among others, an increasing number of traders are looking to gold as a natural fit for their bitcoin holdings. The debate surrounding the relative merits of bitcoin and gold as a store of value has been passively continuing since the first trading options appeared several years ago. On paper, the similarities between the two assets are easy to see: a finite amount, almost infinite divisibility into smaller amounts, a mining process to make....
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Bitcoin is often compared to gold, as both currencies seem to check similar boxes on the list of what makes them so unique. But there are major differences between gold and Bitcoin as well, as one of these currencies can be easily transferred around the world in mere seconds, whereas the other can not. As far as exchanges go, there is a certain appeal to....
CryptoG has launched a global wealth distribution project aimed at restoring financial power back to the people. Its official token, CTG, is a digital currency used within its community as a worldwide cross-border anonymous payment system in exchange for goods and services, 100% backed and redeemable for gold. “With our secure private gold vault located […]
Bitcoin could be used as a means for economic liberty, since it is easy to use, secure and reliable for merchants. It is not only used as a world currency, but also as a savings asset. It is the “one last economic fortress”. Cryptocurrencies go where big banks won’t trouble to go, but could the Blockchain also provide wealth for the unbanked by providing jobs in the near future? The western world has by now has been significantly disrupted by the blockchains of Bitcoin, Ethereum and many other currencies and tokens. According to the 2014 Global Findex, 700 million adults worldwide became....
Previously reported by Bitcoin Magazine, bitcoin and gold exchange Vaultoro has reached $1 million in gold trading volume, recording an average monthly trading growth rate of 91 percent and rapid increase of its user base. Following its milestone, Vaultoro plans to expand its team and services internationally, to become the "key ingredient for the 2.6 billon under-banked" individuals all around the globe. Gold has been the international store of value for thousands of years. Unlike bitcoin or fiat money, gold has proved to be a stable universal currency with very low volatility. Based on....
So Europe's Banks have decided to hold some of their wealth in bullion. Under the current Central Bank Gold Agreement, Countries across the EU as well as Sweden and Switzerland have pledged not to sell any more than 400 Tonnes of gold bullion from their combined holdings each year. This should act to ensure that the price of gold is maintained and not diluted by volumes of the precious metal coming onto the market. The combined European banks declared in a statement that they would: "continue to co-ordinate their gold transactions so as to avoid market disturbances." Gold is an excellent....