Constant Growth and Stability with GSX Gold-Backed Crypto

CryptoMode GSX Apollo Fintech

The volatility of cryptocurrencies has kept many people from investing, but stablecoins have found a way to avoid this problem and facilitate an entry to this market sector.

As regular cryptos fluctuate unpredictably on a daily basis, stablecoins provide the stability of fiat currencies but without the regional restrictions and slow transaction times. This way, stablecoins combine the best advantages of cryptocurrencies and fiat currencies. 

While most stablecoins are pegged to the value of fiat currencies, there have been several projects that have focused on tying gold to cryptos.

The supply of gold and Bitcoin (BTC) does not depend on central banks, and new units cannot be created at will to respond to an increase in demands. Both assets have a set supply that makes their prices reliant on their demand.

Gold has a far more secure demand strength than Bitcoin, and it is significantly less volatile than cryptocurrencies. BTC had a volatility rate of 15 times higher than gold in 2017. Gold is also more liquid than Bitcoin, as there are 2.5 billion in BTC traded daily, which represents 1% of the total gold market.

With this in mind, it is natural for gold to be considered a good asset to be tied to a cryptocurrency.

Apollo Fintech is leveraging the stability of gold with Gold Secured Currency (GSX), while preserving the main traits that have made cryptocurrencies so popular and attractive to investors.

As the coin runs on the Apollo Blockchain, which features Database Sharding, GSX can execute fast transactions and processing times, while also benefiting from transparency and security. 

The underlying gold to which the stablecoin is “pegged” serves as a solid base of which the coin can be valued, making it less volatile on the market. 

In addition to gold, GSX’s value is sourced from the company’s refineries and properties. Apollo Fintech owns now more than 3,000 acres of land that have platinum and gold mines. The primary objective of the company is to mine these lands and further expand their operation and mineral reserves. As Apollo Fintech grows bigger, this will also greatly benefit the growth of the GSX price. The gold resulted from mining will be used for backing the coins and paying out dividends to holders.

While GSX will have a value that will not be affected by volatility, it is the only stablecoin that will constantly increase in value. This is due to the company investing in its infrastructure and operations by acquiring new gold-rich land and refineries. Investors will never have to worry that the coin will be less than the gold amount backing GSX.

As more mines and gold is produced, the price of GSX will continue to increase, providing investors with the opportunity to capitalize on redeeming Gold Secured Currency in the future. All GSX coins can be easily redeemed for their gold value without having to go to multiple exchange platforms.

Thus, the company established a multi-faceted platform where people can easily exchange, trade, or store cryptocurrency without the fear of losing their investments.

Those who hold the coins will have the same benefits as trust owners, basically collecting the profits made from the gold-rich lands and the mining process in the form of yearly dividends.

The firm will have regular audits with third-party companies that will thoroughly verify if the coins all have their corresponding gold backing. GSX holders and potential investors will have the possibility of seeing these audit results, as the company wants to promote information transparency and keep all parties updated about the backing situation.

Apollo Fintech has put forth an improved stablecoin that retains the characteristics that made cryptocurrencies a desirable investment vehicle while also ensuring future profits and stability.

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.