Ekon Gold: what is the first gold-based stablecoin?

minted fromExchange Eidoo, known Wallet of Swiss cryptocurrencies, Econ Gold is a stablecoin whose price is linked to the value of gold, which promises to offer a "value reserve"And to cope with fluctuations in digital assets.

Defined as the meeting point between cryptocurrency and gold, 1 EKG is supported by 1 gold gram (999) and is redeemable by customers.

Ekon Gold: What is the first gold-based stablecoin? - Ekon Gold Stablecoin

What is Ekon Gold and how does it work?

Thanks to blockchain technology, Eidoo has created a “stable currency”Sustained at the 100% by physical gold.

Ekon Gold differs from the Bitcoin and from other cryptocurrencies subject to sudden fluctuations and not linked to the value of the currency and raw materials.

The price of cryptocurrencies is determined exclusively by market demand, while that of EKG is always linked to the value of 1 gold gram.

Since the so-called gold standard has been abolished, there are no legal currencies guaranteed at 100%.

The goal of the Ekon Gold stablecoin market launch is to restore the gold standard in the internet age.

The guarantees provided are as follows:

  • frequent review by an independent certified auditor
  • physical gold is fully covered by insurance
  • monitorable by anyone at any time
  • complies with all anti-money laundering regulations
  • conservation of physical gold in Switzerland (Lugano)

It is a ERC20 tokens  equivalent to one gram of pure gold (999), stored in Switzerland, at insured safe-deposit boxes and subject to audit by the independent auditing company PluriAudit SA.

Ekon Gold: the potential and doubts of the experts

"I think it is reasonable to criticize gold, as none of us go to a gas station and buy a full tank of gold coins. But in the future gold can be digitized, placed on a blockchain”, Emphasizes the CEO of the asset management company Sprott, Peter Grosskopf.

Thanks to blockchain technology even the gold raw material will be an even more valuable asset accessible to all traders and savers.

If currently it cannot be used in everyday life, the precious can be digitized and transferred in a smart and fast way, at extremely reduced costs.

Thanks to the stablecoin Ekon Gold, the asset will become one payment instrument. In addition, cards will be made that will allow the purchase of goods and services with gold.

Ekon Gold: how to buy stablecoin?

How to buy the Ekon Gold "stable" currency? You can buy the asset by exchanging cryptocurrencies as Ethereum (ETH) e Tether (USDT).

Furthermore, through theEidoo apps, it is possible to buy Ekon Gold by bank transfer in euros.  

We would like to remind you that in order to buy Ekon Gold, users must complete the verification of the 2 level identity of EidooID.

For the purchase through DEX (secondary market) it is not necessary to verify identity on EidooID. KYC verification is required only for purchases by bank transfer (primary market).

Is investing in Ekon Gold safe?

ensure transparency, all token owners are able to monitor the actual support, the physical gold bars, which are stored in the vault by streaming a webcam in real time.

EKON Gold complies with the Swiss anti-money laundering (AML) regulation.