Cryptocurrencies are gaining massive adoption from individuals to business entities globally. However, the digital currencies experience many fluctuations in their market prices, making them highly volatile for any form of transactions.
A stablecoin is a digital coin, backed by a valuable real-time commodity or a fiat currency like the US Dollar and is less volatile than cryptos. Stablecoins come with a variety of lucrative advantages for investors, including lower costs, security, and stable prices for cryptocurrencies.
Furthermore, the introduction of stablecoins seeks to integrate payment services at a cheaper, transparent, and secure network through blockchain technology. Besides being pegged to Fiat currencies or valuable commodities, stablecoins can also be crypto collateralized and, or non-collateralized.
Shortcomings of Stablecoins
Stablecoins offer the same advantage as their name suggests; they eliminate the volatility of cryptocurrencies in the market. Nevertheless, you cannot assume the disadvantages these currencies present. Stablecoins never fluctuate in value despite the increase or decrease in the prices of backing assets. Stablecoins do not offer users assured privacy of all procedures considering their attachment to banking systems.
Furthermore, the dependency of traditional currencies exposes them to the risks that accompany them. They have low liquidity compared to cryptos, contain excessive regulations, and continuously require custodians.
Gold Secured Currency
The Gold Secured Currency (GSX) is among the many inventions of Apollo Fintech going against the norm of regular stable currencies. It is the first stablecoin that perpetually increases in value over time. GSX is trust-backed with gold as the asset supporting it from Apollo Fintech’s production.
Apollo Fintech owns over 3,700 acres for gold mining in Zimbabwe with a plethora of other precious metals. GSX will benefit from the increased backing of the gold, the rest of the precious metals, and mining land.
As the backing assets accumulate, so will the value of GSX, ensuring it stays ahead of the backing assets. GSX combines the stability of stablecoins, the growth of cryptocurrencies, and the value as an investment coin. Combining all these elements makes it among the best crypto investments of all time.
Apollo Fintech’s Plans for GSX
The GSX coins’ sale is still ongoing in the GSX coin distribution event (CDE), with over 18.6 million coins sold already. The currency is trading at 0.046 USD, accompanied by several bonuses for limited periods. For more information, visit GSXCDE.com .
Apollo Fintech plans to increase the assets backing GSX over time, hoping for a 500% upsurge in its prices by 2021. The plan is to utilize profits from all Apollo proceedings to achieve the same purpose. Here is a brief overview:
- Apollo will burn 50% of the coins left after the CDE to transfer the value to existing coins as backing.
- The company will reinvest 25% of the transaction fees related to all its products. The funds will go into the purchase of more gold and gold-rich lands to increase the currency’s backing.
- 50% of all profits after expenditure and growth will accumulate more of the assets mentioned above. It will also increase more precious metals, mines, refineries, and the infrastructure behind gold mining.
How GSX Distinguishes itself from other Stablecoins
The first point to note is that GSX will have a spike in value indefinitely according to the plans set by Apollo Fintech. Other stablecoins maintain stability but maintain the same amount. GSX holders will enjoy a growing value maintaining a value higher than the backing assets.
GSX holders will get yearly dividends from the other half of profits that remain after expenditure and increase of assets. It is the first stablecoin to pay dividends to its holders, building trust between the company and its customers.
Apollo Fintech will always invite third-party auditors to assess progress and overall value of assets backing GSX. In that case, Apollo Fintech will always conduct transparent processes, accessible to all holders before and after auditing. Likewise, holders get the rewards they deserve without any back door activities.
GSX is redeemable if a holder has GSX coins worth $200,000, for an equal amount of gold. Holders have the luxury of partial ownership of all assets backing the currency, making it a profitable investment. The assets include mining equipment, land, refineries, companies, and all precious metals, including the gold itself. All factors considered, the community would get the morale to acquire GSX for the profits it forebodes.
The decentralized space offers all users privacy and security for their undertakings. Apollo Fintech will expand the exchanges in which holders can trade GSX for other cryptos for consumer convenience.
GSX, Offering a Different Investment Space
Most people consider stablecoins for their lack of volatility compared to cryptocurrencies. The priced question is, are they worth investing in if they do not offer sustainable profits? GSX gives you the answer as the most promising path with a continually increasing gold backing and price. Unlike fiat currency backing, gold is an asset improving every day as far as value is assessed.
It differs from other stablecoins by leveraging the useful features as a stablecoin, cryptocurrency, and investment coin. GSX will offer all holders privacy and anonymity thanks to the Apollo blockchain. In time, more futuristic goals will accompany the coin, issuing holders with higher values.