STABLE COINS PART2
Stable currencies are those that remain stable balancing the volatility of other everyday currencies such as BTC these currencies have a value of $1USD fiat per token work mostly with the ERC20 network these currencies are linked to real fiat currencies in a centralized bank we will see a very important coin DGX
What is (DGX)
Is a currency developed under the Ethereum code its physical assets is pure gold bars of 99. 99% purity and each coin is minted for each gram of gold ie 1 DGX = 1gr of gold, which are protected in vault this stable value currency facilitates the stability of assets also gives an opportunity to decentralize the purchase and sale of gold previously traded with paper contracts and documents was very cumbersome because if you wanted to sell it you had to go back to the financial or bank to deposit or sell your shares of gold with DGX you can do it from wherever you want whenever you want. which is a great advantage for everyone.
advantages of using DGX
•It is a token that works with the Ethereum blockchain you can send and receive very quickly wherever you are and have access to the network.
•It is a decentralized token which we can manipulate as we want.
•The DGX token is 100% backed by 99.99% pure gold, certified and documented.
•The value is determined by buyers and sellers according to the demand of the moment but always remains stable very close to the value of international gold.
disadvantages of using DGX
•It is a decentralized asset and the asset developers must be trusted.
•DGX is totally anchored to the value of gold if gold falls the DGX will fall it does not seem to me a currency to keep the assets totally stable and at rest in which I can give myself a rest.
Where can I get the token and its current price?
DGX current price today 03/21/2021 is $50.83USD with a volume of 872k usd its market cap is 3.8 Million USD and there are 76,634 DGX coins in circulation. here we can see the main DGX markets.
Gold is a highly valued mineral internationally since the beginning of history it was traded by exchanging gold for salt at one point in history gold was equal to 1kg =1kg of salt, then when they realized that gold is not renewable and as time went by gold began to become scarce and therefore the demand rose the value of gold, but having gold in our pockets has become something dangerous for everyone so there are coins that take care of it and back it up, this is why the shares were created but it was also very cumbersome when selling and buying, due to this need DGX was created so that we can have gold in our exchanges and also as a stable currency.
thanks to our teacher @yohan2on