If you think cryptocurrencies have no real value, then you are wrong. British coin publisher Royal Mint developed its own cryptocurrency for one gram of gold. With the developing technology, Bitconin and many similar crypto currencies will become widespread in our lives. However, many people still do not know Coins which are the equivalent of Gold. Here in this article, we explain to you the newly developed and new century virtual gold.
A cryptocurrency for gold is expected to be launched for the first time
A while ago, Australia’s Perth Mint metal refinery announced that it would develop its own cryptocurrency, the equivalent of precious metals. The government agency Royal Mint, which printed the British currency, raised the bar.
Until now, the most important criticism of cryptocurrencies was that they had no physical counterparts. We will slowly begin to see cryptocurrencies with their physical counterparts. It is becoming more difficult to meet human needs in the rapidly developing world. There are hundreds of new coins, especially in the crypto markets. However, the equivalent of silver and gold coins is still not disclosed.
With Royal Mint Gold, a full gold equivalent is expected to come to the market in the near future. The volatility in the crypto money markets both makes investors happy and scared. An official crypto currency has not yet emerged for Gold, which is shown as the world’s safest investment tool. In 2021, Royal Mint Gold looks set to step in to boost interest in cryptocurrencies and include safe investment tools in exchanges.
What is Royal Mint Gold?
Royal Mint Bullion, a gold operator operating under RM, announced that they have developed a currency that will be kept as gold. The crypto currency, which will be traded under the name Royal Mint Gold (RMG), will be a first in the world.
The foundation states that gold has always been a safe haven, but the future of currencies such as Bitcoin is uncertain. In this respect, the idea of RMG emerged.
For each RMG purchased at the current value of the gold, one gram of gold will be stored in RM vaults. Value increase will also occur compared to gold. In other words, RMG will be a currency dependent entirely on gold and its number will increase as much as gold reserves.
In this respect, there are no values that explode like Bitcoin, and the longer the gold goes, the more RMG will go. At this point, RMG looks like a cryptocurrency that will never be out of hand. In addition, users, regardless of the bank, will be able to transfer their RMG unit, ie their gold, between exchanges.