How to ‘Avoid Fiat Entirely’ When Buying Gold, Altcoins
Users of Vaultoro are now able to purchase physical gold with Bitcoin and 35+ altcoins, including Dogecoin, Litecoin, Namecoin, Monero and others. The bitcoin gold exchange integrated the ShapeShift API on June 3. Vaultoro’s integration of ShapeShift and the “alt-coin” deposit function makes Vaultoro the world’s first gold exchange to accept both bitcoin and altcoins. “We were wanting to offer multiple altcoin payment options to customers and ShapeShift.io was the perfect answer. Their API is elegant and was so simple to incorporate into our platform.”
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The "Gold Standard" was so far applicable only to fiat currencies. It means, that the currency in circulation in a country is backed by its equivalent worth in gold. Gold was chosen as a standard because it is universally accepted as a standard, and it still continues to be so. Recent days have seen the world gradually deviating from fiat currency to digital currency. Bitcoin and other altcoins are on the rise. Bitcoin is not backed by gold, and its value is decided by demand, supply and the number of transactions happening over the network. Thus making it more volatile compared to the....
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Some people believe the US dollar is backed by gold. This is inaccurate. The US Dollar is backed by something alright, but not by an object of value. Fiat notes are propped up by the truncheon and gun. “Fiat” literally means “by decree or arbitrary order”. This implies that government Federal Reserve notes are only valuable insofar as their worth is....