Distributed Ledger Technologies and digital currencies continue to gain significance in our lives. It is not uncommon to hear words like blockchain and cryptocurrencies popping up in everyday conversations. The realization that they could have broad applications in virtually all aspects of our existence informs this shift. Initial skepticism about them continues to wane. Nothing attests to this better than their increasing acceptance in government.
By design, the two concepts are joined at the hip. However, cryptocurrencies tend to obscure blockchains in discussions. As more and more governments explore the use of Central Bank Digital Currencies, the prominence of crypto in exchange and investments increases. China, for instance, is piloting the e-RMB. The Bank of Of Japan is following suit with experimentation on a Digital Yen. Other nations are in varying stages of digitizing their currencies. To a keen investor, this provides an opportunity worth venturing.
Cryptocurrencies as investments
Investing in crypto has its fair share of enthusiasts and naysayers. The latter's thinking is encouraged by the volatile nature of this product. Upsurges and downturns characterize the crypto market. Just as quickly as they (crypto) appreciate, they could decline spectacularly. Whereas any investor would readily welcome surges in value, it is the reverse that puts off many. The threat of losing all of one's investments is a real problem.
In mitigating the above, a variety of stablecoins are available to anyone willing to venture into the crypto investment world. As the name suggests, these coins are less prone to the volatility affecting other cryptocurrencies. They derive this stability from the backing of either fiat currency or commodities such as precious metals. Although they offer much-needed security, their returns on investments (ROI) are low.
The low ROIs of stablecoins makes them an unattractive option. At least until they get acquainted with GSX, the new stablecoin sets standards for cryptocurrency investments.
GSX is the acronym for Gold Secured Currency. A product of the Apollo Fintech company, the coin aptly derives its name from being backed by gold and other precious minerals. Apollo Fintech has gold mining interests in Zimbabwe. It intends to use 50% of the gold produced after deducting costs, to secure the coin's value.
What makes GSX the Standout Stablecoin?
GSX is not your run-of-the-mill stablecoin. It has unique characteristics that give it the edge over its competitors. It does so because of the following features.
Secured in Gold
Gold and gold-rich land are the primary anchors of the coin's stability. Apollo Fintech owns rights to over 3,700 acres of gold-rich land in Zimbabwe. As earlier explained, it intends to use 50% of all the gold it will produce after costs to back up the currency. The choice of gold is telling. Through time, it has proven to be a stable and valuable commodity to hold. The land containing the gold will be an extra cover of protection for the coin.
Hosted on Advanced Apollo Blockchain
Apollo Fintech needs no introduction. Innovating the fintech space is their forte. Among their innovations is the Apollo Blockchain. The blockchain technology features impressive characteristics like resistance to Quantum. Therefore making it unhackable and incorruptible. Additionally, its Database Sharding capabilities make it the only blockchain capable of achieving sub-zero transaction rates. These two features make it the most robust and scalable blockchain available.
Another impressive feature of GSX is that its value can only appreciate. First, it has the backing of gold and gold-rich land. These two assets have always grown in value. Trends in the current market do not foretell a different outcome. For the most interminable future, the coin's value and, as such, the holder's investment will continue to grow.
Holders Own the Gold Mining Company
Automatically, holders of GSX will have legal ownership of the gold-mining company that Apollo will set up. All the infrastructure and investments this company will have, the holders of GSX will, by default, also own. When the company disposes of any of its assets, the coin holders earn a share of the proceeds.
Eligibility to Earn Dividends
GSX holders earn an annual dividend. Apollo will pay them in either GSX or Apollo Currency based on their investment. In this way, an individual's investment grows.
Apollo is committed to dealing transparently with all the investors. Firstly, it will undertake a geological survey of the gold-rich land it intends to invest.. The audit will be by an independent geologist, and the results publicly availed via the blockchain. Secondly, there will be periodic third party evaluations of the company's gold cache to ascertain its value. In this way, the investors have a clear picture of their investment.
Right to Sell on Knox
GSX holders can sell the coin back to Apollo Fintech. The price they sell it back will be according to the company's gold stock's correct valuation. Alternatively, they may sell the coins to other parties through Apollo Knox Exchange or other compatible exchanges.
Redeemability of the Coins
Apollo has a token program where anyone holding GSX coins worth $200,000 can redeem them. This gesture improves the holder's liquidity.
Interest in cryptocurrency investments is growing. Their rising popularity has necessitated a quick rethink from governments around the globe. Even those that were most resistant to the adoption of digital currencies have had a change of heart. A key pointer to this shift is the massive investments in CBDCs. The growing interest in crypto is an investment opportunity. However, the volatility of these currencies dissuades investments. Stablecoins offer some measure of security to the investor. Their undoing though is their low ROI. Here is where Apollo's GSX coin comes in. In addition to promising security to one's investments, they guarantee their holder a perpetual increase in value. Their superior features make them a unique and wise investment to hold.