November 25, 2022

Zxpirit – Zee of Crypto

Zxpirit monitors cryptocurrency and blockchain market trends. Stay up to speed on crypto assets, NFTs, dApps, and more.

Commodity-Backed

Commodity-backed stablecoins are tied to tangible assets, such as gold or other precious metals. These stablecoins might also attract to individuals seeking exposure to physical property in a way that is extra handy and provides increased liquidity. For commodity-backed stablecoins, one coin is generally worth one predetermined unit of the referenced commodity. eg. Gold 

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DGIX GOLD – DGX

Digix Gold Token (DGX) is the actual token that is backed by physical gold in equivalence of 1 DGX equal to 1 gram of actual redeemable gold. The DGX and DGD native tokens power Digix’s ecosystem. DGX is an ERC20 security token that makes gold more accessible to everyone. The actual gold will be stored securely in custodial vaults at the Singapore Safe House. Moreover, DGX will be created only when someone wants to buy gold through the Digix gold marketplace. This way the investors will get DGX equivalent to the gold they bought through Digix in exchange, which they can redeem for equivalent gold at any point in time.

Digix Gold Token creates its own wallet software, which you can download from the company’s website and use to keep Digix Gold Token on your computer. You should keep your cryptocurrencies in a dedicated hardware wallet, such as a TREZOR wallet or a Ledger Nano X, for optimal security. If you don’t want to spend the money on a hardware wallet, you might use a mobile wallet like Atomic Wallet, Jaxx, or Coinomi to store various cryptocurrencies with increased protection.

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