What Is Goldcoin GLC Cryptocurrency?
Goldcoin Cryptocurrency is not just another digital currency, but a decentralized platform offering an alternative means of investing in gold. To gain a full understanding of Gold Coin, we need to understand the following:
- What Is Goldcoin GLC
- History of Goldcoin GLC
- How Does Goldcoin GLC Work?
You're not simply investing, but joining a community championing financial liberty. Dive in, explore its performance, market stats, and potential to revolutionize your view of digital assets.
This is your golden opportunity; seize it. Welcome to the world of GoldCoin.
What Is Goldcoin (GLC)?
Developed on the protocol of the original Bitcoin, Goldcoin (GLC) is the cryptocurrency you've likely heard about that's designed to empower your economic freedom of choice. As an open-source, decentralized, peer-to-peer proof-of-work (PoW) cryptocurrency, GLC aims to resolve the vulnerabilities of electronic currencies and to establish a stable, secure network.
What sets GLC apart is its commitment to address issues such as the 51 percent attack, a scenario where an individual or group gains control of over 50% of a blockchain's hashing power. By introducing block enhancement, complex algorithms, and other programmatic tools, GLC seeks to prevent the intervention of bad actors and compensate for inflation.
GLC also embraces the concept of a permissionless blockchain. This open-network public blockchain means anyone can participate in the consensus process used to validate transactions and data. This ensures a trustless environment where no one party has control, enhancing the security and reliability of the system.
One of the most attractive features of GLC is its provision for fee-less transactions. This, along with faster processing speeds and enhanced security, makes GLC a practical and efficient choice for users worldwide.
To make GLC easily accessible, it's available across various exchanges. This means you can acquire GLC with ease, regardless of where you are.
In essence, GLC is more than just a cryptocurrency; it's a solution to the limitations of traditional electronic currencies, giving users the economic freedom they deserve.
History of Goldcoin (GLC)
You mightn't know that the journey of Goldcoin (GLC) started back in 2013, marking over eight years in the dynamic world of cryptocurrencies. The Goldcoin project was unveiled on the public forum bitcointalk.org on May 15, 2013, by a team led by Eric Britten, Gerald Higginbotham, and Greg Matthews.
From its inception, Goldcoin aimed to provide a decentralized, open-source cryptocurrency, empowering economic freedom of choice for users worldwide. Developed on the original Bitcoin protocol, Goldcoin adopted the same peer-to-peer network, eliminating the need for a central authority.
Over the years, GLC has been made available on multiple exchanges for easy acquisition, increasing its accessibility to crypto enthusiasts. The total supply of Goldcoin is capped at 72,245,700 GLC coins, and the current circulating supply stands at approximately 43.7M, indicating a significant portion of GLC coins have been mined and are in circulation.
Despite the volatile nature of the crypto market, Goldcoin has managed to persist and evolve. Recent market statistics show GLC's market cap at ₱27.0M, with an impressive volume of ₱8,466.78 in 24 hours. Although its price has experienced fluctuations, GLC maintains a steady presence in the crypto landscape, offering a reliable alternative to traditional currencies.
As you delve further into the world of Goldcoin, you'll discover its unique features and potential. It's a testament to the continuous innovation in the cryptocurrency space, and a symbol of the evolving digital economy.
The journey of Goldcoin is far from over; it's continually shaping its history and carving its place in the crypto world.
How Does Goldcoin GLC Work?
As we explore the features of Gold Coin Cryptocurrency, you'll find that it's not just another form of digital gold. It represents 1/1000th of an ounce of 99.9% pure gold, making it a unique blend of the traditional and digital economies.
With its cutting-edge technology, emphasis on privacy, affordability, and inclusivity, it's primed to revolutionize how we view and use money.
GoldCoin = 1 / 1000th of an oz of 99.9% pure gold
Often, you'll find that each GoldCoin equates to 1/1000th of an ounce of 99.9% pure gold, making it a valuable and tangible asset in the world of cryptocurrency. This fractionalization allows for affordability and flexibility in investment, catering to budgets of all sizes.
Each GoldCoin is backed by physical gold, securely stored in audited vaults, ensuring transparency and credibility in its intrinsic value. Being an ERC-20 stablecoin, it's cryptographically secure, with transactions powered by its own smart contract, eliminating the risk of payments being blocked or limited.
Additionally, GoldCoin provides a level of privacy as no identification is required for purchase. It's an innovative blend of traditional asset security with the convenience and potential of digital currencies.
Leading Tech
Looking at the leading tech features, it's evident that GoldCoin isn't just about the precious metal it represents, but it also brings the cutting-edge technology of the crypto world to your fingertips. As a secure ERC-20 stablecoin on the Ethereum blockchain, GoldCoin is powered by its own smart contract, ensuring payments can't be blockaded or limited.
Here are three main features that make GoldCoin stand out:
- Immutable Payments: Thanks to blockchain technology, payments made with GoldCoin can't be blocked or limited, providing you with financial freedom.
- Smart Contract: GoldCoin leverages a smart contract, which is a self-executing contract with the terms directly written into code.
- ERC-20 Standard: As an ERC-20 token, GoldCoin is compatible with all Ethereum supported wallets, ensuring wide accessibility and ease of use.
Private
One of the significant features you'll appreciate about GoldCoin is its focus on privacy.
As a private asset, there's no identification requirement to purchase any amount of GoldCoin. This attribute ensures your transactions remain confidential, promoting a sense of security and personal control.
Once your purchase is complete, you simply provide an Ethereum wallet address, and your GoldCoin is promptly sent to you. It's a straightforward, efficient process that respects your privacy while facilitating a seamless transaction.
This focus on privacy is a robust response to the increasing demand for confidential transactions in the cryptocurrency market. GoldCoin's privacy feature not only enhances user experience but also positions it as a preferred choice for those prioritizing privacy in their crypto transactions.
Affordable Alternative
Regularly, you'll find that GoldCoin's affordability and unique features make it a practical alternative to traditional gold ownership. It's designed to bypass the time-consuming paperwork and costly fees associated with securing precious metals through banks or storage facilities.
GoldCoin's affordability is rooted in its fractionalization. Each coin is equivalent to 1/1000th of an ounce of pure gold, this makes it accessible for various budget ranges.
Here are three key features that make GoldCoin an attractive investment:
- Fractionalization:GoldCoin is divided into smaller, more affordable units, allowing gold ownership for any budget.
- Convenience:It eliminates the need for paperwork and storage, making gold acquisition quick and easy.
- Transparency:All gold holdings are fully audited and viewable online, ensuring accountability and peace of mind.
With GoldCoin, you have a cost-effective, transparent, and convenient way to own gold.
Inclusive
Embracing GoldCoin's inclusive features, you'll find that it's not just a cryptocurrency, but a revolutionary platform designed with the user's needs in mind. It's an accessible asset, fractionized to 1/1000th of an ounce of gold, making it affordable to all. This unique feature democratizes the ownership of gold, a traditionally high-value asset.
Beyond affordability, GoldCoin is built on the secure Ethereum blockchain, providing transparent and tamper-proof transactions. Its smart contract prevents payments from being blocked or limited, providing you with full control over your assets. Furthermore, no identification is required to purchase GoldCoin, ensuring your privacy.
With the added assurance of two-factor verification during login, GoldCoin stands as a secure, private, and inclusive cryptocurrency.
Liquidity
The liquidity features of GoldCoin make it a convenient and flexible investment for you. As a liquidity provider, it ensures you receive the best market prices regardless of the size of your purchase.
There are three key features that enhance its liquidity:
- Fractionalization: GoldCoin allows you to buy any amount at any time, making it highly accessible.
- Market Availability: Being traded on multiple exchanges, it's easily purchasable and sellable, thus maintaining a steady flow in the market.
- Redeemability: You can convert GoldCoin into tangible assets, specifically gold, at any time.
These features create a seamless transaction experience for you, making GoldCoin a reliable and readily available investment option.
Redeemable
While considering the liquidity of GoldCoin, it's essential to note that you can redeem your GoldCoin for physical gold stored in a secured vault at any point. This unique feature provides a tangible backing to the digital asset, making it a reliable investment.
The redemption process is simple and straightforward. For every 1000 GoldCoins you hold, you can claim an ounce of 99.9% pure gold. This fixed ratio ensures transparency and maintains the value of your investment.
Two-Factor Auth
In your journey with GoldCoin, you'll appreciate that it places a high priority on security through features like two-factor authentication. This added layer of security requires not just your password, but also information available only to you via your phone. This dual-verification process significantly reduces the risk of potential hacking attempts on your account.
To clarify, GoldCoin's two-factor authentication process involves:
- Inputting your password.
- Receiving a unique code sent to your registered phone number.
- Entering this code into the platform to verify your identity and gain access.
Conclusion
In conclusion, GoldCoin (GLC) maybe a worthwhile exploration for anyone seeking to diversify their crypto and gold investment portfolio. Its roots in Bitcoin's original protocol offer familiarity, while its unique features bring fresh potential.
The decentralized nature of GLC places power in your hands, fostering an ethos of financial freedom. With its extensive availability, now's the time to consider whether GoldCoin could be your golden ticket in the world of cryptocurrency.
Additionally, the video below explains the necessity and importance of owning physical gold alongside digital gold investments. Also, see the links to the gold investment guides to tax advantage of a tax-deferred gold IRA.
Gold Investment Guides
Attend a Free Gold Investment Webinar for High Net Worth Investors
Gold IRA FAQs
Adam ONeill
Author, lifelong investor, and creator of PreciousMetalsInvestmentPortfolio.com