Central Banks of China and Turkey have clamped down on the use of cryptocurrencies as a form of settling payments against the procurement of goods and services.
It comes as no surprise. In fact, it was about time for this bubble to burst. And it should be noted that these central banks and jurisdictions are just the beginning. In short, cryptocurrency exchanges and platforms are not regulated. Tokens traded have skewed pricing basis investor perception and does not follow any sound fundamentals. It is an easy boom or bust scenario in a relatively short time. Its volatility that leads to gains and losses are not for the faint hearted.
It is definitely not a medium for wealth preservation. By this we mean, the common individuals life-time savings over the longer term. Physical Gold is a long standing store of value for centuries. It is proven that it is the only alternative asset class that provides immediate liquidity and has no country borders. It is globally accepted as a reserve asset to the currency.
So it has finally arrived. Enter AgaGoldy, a game changer for the Turkey market. A crypto that is physically backed by gold and derives it price basis globally traded transparent benchmarks. More aptly referred to as ‘Digital Gold’. A token holder is a secured creditor as ownership of the physical is allocated to each individual using the very latest blockchain technology. Account status, currency and physical balances are updated on a real-time basis on the digital wallet for the holder to access anywhere at anytime.
The future of physically backed Crypto is now and it will continue to evolve. We expect its popularity with the masses to soar exponentially in a relatively short span of time.
‘Nailed It’ for the Turkey market is what experts had to say. Watch the Video and stay tuned for updates on AgaGoldy.