The crypto market is full of exciting opportunities. Every week produces some new platform that claims to answer all the woes of its predecessors. These new platforms are slowly helping the market move towards major developments. Recently, one such development occurred in the form of a new type of stablecoin – GSX.
Stablecoins are cryptocurrencies that get their value from some other asset. They are extremely popular for a number of key reasons. For one, they are not volatile. This lack of volatility makes them ideal for use as a payment system. If you send someone $1 in a stablecoin, it will equal a dollar regardless of when they actually spend it.
This strategy is in stark contracts too early cryptocurrencies such as Bitcoin. During the height of Bitcoin’s usage in 2017, the market struggled to complete transactions in a timely manner. These delays, coupled with record market volatility meant that anyone who accepted Bitcoin as a means of payment opened their selves up to major losses.
For example, imagine you just sold your car for $10,000 worth of Bitcoin. However, the transaction has been delayed for 3 days due to congestion. Aside from the fact that you now run the risk of losing thousands due to market volatility over the coming days, you also have higher fees.
A Better Alternative
Stablecoins are ideal for making payments to employees and other businesses because they are easy on the accounting department. If you send someone $10,000 in stablecoins, you can record that as a value of $10,000 for tax purposes. This exact same situation becomes less clear when you pay someone in Bitcoin.
If the value of Bitcoin went up since you made your payment, does that count as more value paid out? Reversely, if the value of Bitcoin drops, tax-wise, does that mean the firm has paid out less in expenses? In the end, the entire process is complicated, and just another reason why stablecoins are so popular.
The Top Stablecoin
Among the main types of stablecoins, the most popular are fiat based coins. These coins derive value from your normal government-issued currencies. They are relatively stable and easily accessible. Impressively, nearly every major exchange offers some form of stablecoin to its users.
The next most popular type of stablecoins is gold-backed coins. These tokens derive their value from gold. To accomplish this task, a company will purchase or acquire a certain amount of gold. They will then have the gold audited. Once the audit reveals the total value of the gold, the firm will issue tokens equivalent to this value.
The best platforms, such as GSX will provide full transparency along the entire investment process. GSX allows for third-party auditors to review its holdings. In this way, GSX investors have more confidence than the competition. The results of these audits are sent to every GSX holder for review.
One of the most original aspects of the GSX project is its function as an investment token. GSX holders are the actual trust beneficiaries of a lucrative gold mining operation. This 5,000-acre mine is under the management of Apollo Financial. The land is gold-rich and producing gold bullion. As an owner of these operations, you are entitled to your share of the profits in proportion to your GSX holdings.
Unlike other tokens, GSX’s assets are all set to appreciate for the foreseeable future. As both the gold and land appreciate, so does the value of dividends you receive. Also, these actions help to drive the overall value of GSX to new heights. Unlike the competition that pegs their tokens directly to gold, GSX is able to appreciate at a faster rate than just gold alone.
More Protection against Loss
Another advantage of utilizing various assets to derive value is more resilience against loss. GSX tokens appreciate faster than gold but depreciate slower. In fact, since these tokens also include land and a complete mining operation, they are incredibly more stable than just gold-backed tokens.
This strategy is a smart one to pursue when you look at the truth regarding gold investing. That truth is that no one really knows how much gold there is to be mined in total. There is always the risk that a major vein could be discovered. This discovery would alter the supply and demand in the market and ultimately drive gold prices down.
Positioned for the Future
The security aspect of GSX is also impressive. GSX resides on the world’s most advanced blockchain. This network is capable of some remarkable feats. For example, Apollo-based tokens are the only quantum computer resistant protocols in the market. This is a huge accomplishment when you consider that these computers have the ability to topple entire blockchains at a whim.
Nobody can say exactly when quantum computers will make their way into everyday life, but one thing is for sure, they are coming, fast. Already, Google’s quantum computer project has made major headway in terms of development. Once the technology is fully understood, manufacturing techniques will improve.
These improvements will result in a major price drop for these devices. Once these machines are even remotely affordable, the blockchain sector will be at serious risk. For now, preparations must be made to ensure you are not left in a tricky situation.
Scale to the Masses
GSX is unlike any stablecoin prior. This token is the most scalable project in the space currently. GSX transactions can complete in under a second. Best of all, you can send GSX globally for a fraction of the cost of sending fiat currency. In this way, GSX utilizes the technical prowess of blockchain tech and combines it with the time-tested stability of gold.
GSX – A Cut Above the Rest
It’s easy to see that the development team behind the GSX project took their time to address the most pressing issues facing stablecoin investors. This token encompasses everything a savvy investor would need to push their strategy forward. For now, you can get your hands on GSX exclusively at GSXCDE.com.