British ‘gold’ cryptocurrency is already functional
From time to time different mints of the world express intentions to develop a cryptocurrency backed by real precious metals. Over a year ago, the idea came to the British Royal Mint, and eventually was brought into life.
Today investors can carry out operations with the Royal Mint’s gold using the digital currency Royal Mint Gold (RMG). One coin is equal to one gram of gold.
Now you can invest in the British digital currency not worrying that it will collapse tomorrow. However, that simultaneously makes it less attractive for investors drawn by the volatility of cryptocurrencies: they are more accustomed and comfortable when dealing with gold, but you should not expect a surge in price, which is common for Bitcoin and its analogues. However, Bitcoin and many other similar currencies have been falling in price lately and stability seems more and more tempting.
People investing in Royal Mint Gold will gain undeniable advantages of the blockchain technology and confidence in the safety of funds backed by real asset. The idea is not new and mints of many other countries have already expressed similar initiatives. Not all such cryptocurrencies are functional, but the launch is planned in the nearest future.