Gold Coin Crypto Explained: A Beginner's Guide

Gold Coin Crypto is a type of digital currency that's gaining popularity, but it can be confusing if you're new to the world of cryptocurrency.

Gold Coin Crypto is built on the Ethereum blockchain, which provides a secure and transparent way to record transactions.

It's backed by a physical gold reserve, which gives it a unique value proposition compared to other cryptocurrencies.

The reserve is stored in a secure vault and is audited regularly to ensure its authenticity and value.

Gold Coin Crypto is an open-source cash payment system that scales on-chain without the need for L2 solutions. It enables instant payments to anyone, anywhere in the world, and can be sent with or without a transaction fee.

The network capacity is 1,120 Tx/s with 2-min confirmations and 32 MB blocks. This makes it a relatively fast and efficient way to make transactions.

Gold Coin Crypto uses peer-to-peer technology to operate, giving users more control over their transactions.

Cryptocurrency is a digital or virtual currency that uses cryptography for security and is decentralized, meaning it's not controlled by any government or financial institution. This allows for peer-to-peer transactions without the need for intermediaries.

Each gold-backed cryptocurrency defines one of its tokens as having an equal worth of a specific size of gold, be it grams or Troy ounces. This is a unique characteristic that sets them apart from other types of cryptocurrency.

Unlike most other cryptocurrencies, gold-backed cryptocurrencies are tied to a tangible asset, protecting them from massive price fluctuations. This is because their value is supposed to be underwritten by the equivalent price in gold.

Some tokens even allow redemption back to gold, giving investors a tangible asset to hold onto. This can provide a sense of security and stability in a rapidly changing market.

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Goldcoin is an open-source cash payment system that scales on-chain without the need for L2 solutions. It enables instant payments to anyone, anywhere in the world, and can be sent with or without a transaction fee.

Goldcoin uses peer-to-peer technology to operate. The network capacity is 1,120 Tx/s with 2-min confirmations and 32 MB blocks. The network is SegWit-free and 0-Conf is fully supported.

Starting September 15th, 2023, the currency will be backed by a real-world treasury.

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Goldcoin's social signals are relatively low, with only 5,453 followers on its official X account, which is a tiny 0.04% of the total.

The project's Reddit account has a slightly larger following, with 1,650 subscribers, but it's still a modest number.

Goldcoin's Telegram account is not publicly visible, so we can't assess its social activity there.

The project's website has a Domain Rating (DR) of 35 out of 100, which indicates a relatively low level of reputability.

According to Ahrefs Rank, Goldcoin's website is ranked 2,915,050, which suggests that it's not a particularly popular or well-known website.

The website receives a negligible amount of organic traffic, with only a few monthly visitors coming from search engines.

Goldcoin's GitHub repository doesn't exist, which is a red flag for a project's development activity and transparency.

PAXG is a gold-backed cryptocurrency that allows users to own and trade gold more easily and efficiently than traditional physical markets. It's issued by Paxos, a regulated and legal custodian.

PAXG is backed by one fine Troy ounce of gold at a ratio of 1:1, making it a highly secure and reliable investment option. This means that for every PAXG token you hold, you effectively own one ounce of gold.

One of the key benefits of PAXG is that it offers instant settlement, allowing users to quickly buy and sell gold without the need for physical delivery. This is a significant advantage over traditional physical gold investments.

PAXG is also widely available on most major exchanges, making it easy to buy and sell. It's even regulated by the New York State Department of Financial Services, providing an added layer of security and trust.

If you're interested in learning more about PAXG and stablecoins, here are some key features to consider:

Some popular stablecoins include:

Keep in mind that PAXG has a gold ETF fee that ranges between 19 and 40 basis points per year, which is lower than many other physical gold investments.

Gold Coin Crypto Tokens are a type of cryptocurrency that offers a unique investment opportunity, backed by physical gold. Each token represents a specific amount of gold, making it a tangible asset.

The minimum purchase amount for some gold-backed tokens, like PAXG, is low, allowing investors to start with small increments. Other tokens, such as DigixGlobal, offer fractional ownership, enabling investors to accumulate gold in minute positions.

Redemption options vary among tokens, with some allowing for physical gold delivery, like Kinesis Gold, while others can be redeemed for fiat currency at current market prices, such as PAXG. Some tokens, like Perth Mint Gold Token, can be redeemed for multiple products, including cast bars and LBMA-accredited London Good Delivery bars.

Here are some key features of popular gold-backed cryptocurrencies:

These tokens offer a range of benefits, including lower storage fees, no settlement risk, and the ability to redeem for physical gold or fiat currency.

PAXG, a digital token, is backed by physical gold, with each token representing one fine troy ounce of gold stored in LBMA vaults in London.

PAXG offers a cost-effective way to own investment-grade physical gold, with a low minimum purchase amount and zero storage fees.

Perth Mint Gold Token (PMGT) is another token backed by physical gold, stored in Perth Mint's central bank, with the Government of Western Australia guaranteeing the gold.

PMGT can be redeemed in multiple Perth Mint products, including small 1-ounce cast bars and 400-ounce LBMA-accredited London Good Delivery bars.

AABB Gold Token (AABBG) represents physical gold held from the company itself, with gold verifiable publicly.

DigixGlobal (DGX) allows users to accumulate gold in minute positions, with tokens tradable on cryptocurrency exchanges, and users can redeem them for physical gold or participate in a gold ETF.

AurusGOLD (AWG) is a gold-backed token that can be converted for 1 gram of 99.99% gold from LBMA certificate refineries.

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Kinesis Gold (KAU) is backed by 1 gram of physical gold stored in fully insured and audited vaults, with no storage fees and transaction speeds confirmed within 3 seconds.

Here's a comparison of some popular gold-backed cryptocurrencies:

Note that the divisibility column represents the smallest increment of gold that can be represented by the token.

The development process for Goldcoin Core is quite transparent. The master branch is regularly built and tested, but it's not guaranteed to be completely stable.

New official, stable release versions of Goldcoin Core are marked with tags, which are created regularly.

If you're planning to contribute to the project, be sure to check out the CONTRIBUTING.md file for guidance on the contribution workflow.

Before working on a patch set, it's a good idea to discuss complicated or controversial changes in the #core-client channel on Discord.

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The GLC market is relatively small, with a current market capitalization of $628,543.

In the last 24 hours, the trading volume was $19,897.

The current real-time price of GLC is $0.0144, which is a 0.17% increase from the previous day.

GoldCoin, also known as GLC, is a peer-to-peer cryptocurrency that aims to provide economic freedom and decentralization. It uses a Proof-of-Work system, similar to Bitcoin's protocol.

The GLC coin is the native utility token of the platform, used for all transactions on the network. More utilities for the GoldCoin token will be developed in the future.

Each GoldCoin token is backed by a ratio of 1000 GoldCoin per ounce of gold, making it less volatile than other cryptocurrencies. This also provides the benefits of a digital asset and physical gold.

The platform scales through both on-chain and off-chain scaling methods. It is mined through the proof of work algorithm, like Bitcoin.

You can store and send GLC from any Ethereum wallet, thanks to its ERC-20 status. This makes it easily accessible and transferable.

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The current Goldcoin price is $0.0144, and its trading volume is $19,897 in the last 24 hours. The GLC price has grown by 0.17% in the last day.

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In the last 7 days, the price of Goldcoin has decreased by 5.79%. The current market capitalization of Goldcoin is $628,543.

The maximum supply of GLC coins is 72,245,700, while the circulating supply is 43,681,422 coins. Goldcoin currently ranks #1468 on the market.

To buy or sell GLC, you can use popular exchanges like Binance, Kucoin, and Kraken. Ledger and Trezor are also recommended for keeping your cryptocurrency safe.

The price record of GLC is quite interesting. GLC has a highest price of $14.69, which was reached on Aug 17, 2021.

In the past, GLC's price has fluctuated significantly. GLC has a lowest price of $0.00, which was reached on Dec 29, 2020.

Currently, the real-time price of GLC is $0.0144, with a trading volume of $19,897 in the last 24 hours.