The past few days or rather months, the cryptocurrency market without a doubt has taken a nosedive altogether. There is believe that bitcoin is basically the “digital gold” in crypto markets, but then there is proof that it is less stable when looked versus its real world, right?
Gold has always been a friend of the fiat currencies, but then it has been difficult to use it in a currency form.
With that in mind then, Puregold aims to put together the cryptocurrencies’ volatile nature just by a trip down the memory lane. By that, it means they are the first payment gateway merely to use the gold-backed tokens – a crypto-gold standard.
In fact, Puregold paired the gold’s best parts (predictability and stability) with two digital assets that run on separate ledgers: the PGG token tied directly with the price of the physical gold (1 PGG per 1 gram) and the utility token for transactions on the gold-commerce platform.
The scope of Pure Gold
It is quite easy to achieve faultless transactions digitally. It is evident that Digital Gold Economics steadily is gaining acceptance something Puregold’s payment gateway is aiming to tap upon.
Puregold has the project of having a most valuable asset and the valuable platform together which is simply to trade the Gold through crypto-tokens over a payment gateway channel that is entirely dedicated.
How does Puregold stay ahead of the game?
As we already looked at it earlier, Puregold has two tokens – PGG (a digitized form of the physical gold) and PGT for transactions.
The difference with PGG is that the entire payment gateway which is dedicated to transactions that are gold-enabled is driven, unlike others that wholly allow the payment against Gold value.
Puregold has smart contracts so as to close deals as well as tagging gold asset to a PGG holder.
PGT lets the holder make transactions that include offset fees while on Puregold platform when used as utility token. It can be paying merchants, selling gold or buying the gold against the fiat equivalent value the holder gains (in fact, 50% fees less than usual).
PGT can as well be exchanged for PGG at variable rates that are highly affordable.
PG Payment Terminals
PG payment terminals in association with retail outlets will let the consumers make purchases of physical goods to exchange with the PGG crypto tokens.
PG payment terminal (connected to Puregold Blockchain) records as well as updates each transaction. This feature is made available for Android and iOS apps of the platform, too.
PG Gold Dispenser Machines (DM)
There is no other channel apart from Puregold.io who offers an ATM machine that will issue gold coins against gold crypto reserves. They will not only allow gold withdrawal, but holders as well can purchase tokens against fiat equivalent value.
Dispenser machines (DM) will be soon installed at various locations so as the account holders to have access on a 24/7 basis
PG Stored Value Cards
It is a physical multi-currency debit card which can be credited by using either PG gold DM or PG payment terminals (sync with Puregold platform) with cryptocurrency tokens.
This kind of payments discourages events like theft or damage and hence, you (the users) won’t have any impact whatsoever on the account.
In the end, in a word, Puregold has some strategy ahead with a full-scale payment platform which encourages more transactions than the gold reserve.