The Karatgold Coin ICO has attracted many investors and chronicled an important development for Cryptocurrency investment for those who understand the value of gold in their portfolio’s.
The Karatgold Coin ICO launched in March 2o18 and to be honest stands out from so many other ICOs simply because it’s backed by gold. This merging of traditional security with the cutting-edge technology of blockchain, promises to thrust Karatgold Coin as a real alternative as a payment option that is more reliable than fiat currency.
Karatgold Coin’s success long-term rests on the acceptance worldwide as a safe form of exchange, and Karatbars CEO, Harald Seiz knew for this to happen, his company had to provide a product backed by a stable hard asset. Many would be investors in blockchain technology see the huge possibilities for the future, as the consensus is that cryptocurrencies still need to be based on more than just code.
So Karatbars, with Karatbank have presented a solution by tying the value of the Karatgold Coin to GOLD and making the Karatgold Coin exchangeable for gold at any time. So holders of Karatgold Coins are assured that their money’s value remains intact because the price is tied to the world’s historic store of value, and that is why big money investors are buying in globally.
Harold Seiz held a televised press release and announced that Karatbank has secured partnerships with 3 of Asia’s largest gold traders. The announcement confirmed that these traders will use Karatgold Coin as a way of exchange on hundreds of millions of dollars worth of transactions per day. This large commitment of volume will provide crucial liquidity for Karatgold Coin’s expansion. These traders can see that since Karatgold Coin is backed by solid gold reserves, it is providing a stable means of exchange and provides a practical means of replacing fiat currency.
In reality, many other cryptocurrencies fail to make this grade as they remain speculative and unstable. Bitcoin, for example, is one of the most popular cryptocurrencies but is seen as a speculative investment vehicle mainly due to its meteoric rise, and that volatility, makes it attractive to speculators, but this volatility also makes bitcoin impractical as a currency. As an example, let’s say you want to buy a car with bitcoin. The seller agrees on a price when bitcoin is $8,000, but a month later, bitcoin hits $10,000. How are you going to feel? Probably pretty sorry that you bought the car when you did and of course vice versa, if you sold that car for one bitcoin when it was worth $10,000, then bitcoin plummets to $8,000, you’d want the car back!
Of course, all currencies fluctuate, but to work as money for everyday purchasing, it just can’t fluctuate like bitcoin is currently doing. In reality, Fiat currency actually loses tremendous value over time through inflation, but it is still much more stable than bitcoin and we are used to using fiat currencies with inflation running at a few per cent per year. We tend to not see it devaluing and forget about it until, years down the road when we finally see that our money no longer has the value we were counting on. This is when the reality of what a pension actually pays out really hits home.
So long term, Cryptocurrency truly provides the first alternative to inflationary fiat currency in this century, but for it to work, a basis to secure its value must be in place. Fiat currency is backed by the government, but here’s the problem today, Government backing is shaky and uncertain.
Karatgold Coin potentially provides a better backing to governments because it is backed by gold just as the currency used to be, and valued all over the world. No one can doubt its value nor dispute its price. While inflation is robbing the value of fiat currency, gold is holding its value because it cannot be printed by governments.
Karatgold Coin is one of the only cryptocurrencies based on solid gold and buyers and sellers will exchange goods without currency risk.
Development Plan for Karatgold Coin
The dates below have been taken from the Karatbank.io website, so may be subject to change, but it provides an idea of how the Karatgold Coin will develop over the next couple of years.
August 2018 – Karatbank in-house wallet. Use the gold-covered payment system and other benefits such as the transfer of real gold without banks or other intermediaries.
September 2018 – Preparations for a Karatbank crypto exchange. This in-house Exchange will provide the benefits expected from an advanced crypto exchange.
October 2018 – Use the benefits of Karatgold Coin and other KaratCoin banking services freely, using their app. This app is available for iOS and Android.
Throughout 2018 – Listing of the Coin on further major exchanges and aiming for a market capitalization of USD 80 million
The goal for 2020 – 2% market penetration. Market capitalization: USD 500 million
Karatgold Coins are the solution to an age-old problem
In the past gold had always been the preferred method of payment in the form of gold coins until gold was over time replaced with bank notes, that were initially backed with gold. The problems started when governments needed to print more money so there was a temporary request to drop the gold standard from most global currency but it was never reinstated, leaving national debt to spiral out of control and Fiat currency to keep devaluing
The solution to this mess is a new currency that perfectly meets worldwide needs because it is once again backed with gold. Each coin represents a certain weight of gold and can be exchanged into physical gold in the form of CashGold at any time via a simple Karatpay App or the Karatbank exchange when it goes live. In addition, the Karatgold Coin can be exchanged for any fiat currency or any number of cryptocurrencies worldwide.
The Karatgold Coin is the perfect solution for future money;
- Based on Gold
The Karatgold Coin is cryptonized gold that can be transferred borderless, cost efficiently, securely and in real-time.
The value of Karatgold coin is predictable because it’s based on the value of gold which provides stability to any investor and it has the ability to be generally accepted worldwide. In my opinion, Karatgold Coin is the future of money