June 25th, 2018 at 9:54 pm UTC · 4 min read
A venture from KaratBars International, KaratGold Coin has recently completed a highly successful ICO that secured investments worth over one hundred million USD.
KaratBars International is pleased to announce that their gold-based cryptocurrency KaratGold Coin (KBC) has been enlisted recently in HitBTC, one of the leading cryptocurrency exchanges.
The first ever cryptocurrency to tie its value to the price of gold, KaratGold Coin has recently concluded one of the most successful ICO campaigns ever with a collection of well over one hundred million US Dollars.
Gold has served as international payment as well as investment means for more than four thousand years. Though the modern-day legal currencies are no longer backed by gold, many central banks around the world still make use of gold as their currency reserve.
The core idea of KaratGold Coin (KBC) revolves around providing an effective solution to the volatility and unpredictability of cryptocurrencies by utilizing the stability and reliability of gold.
The architecture of the KaratGold Coin (KBC) ecosystem is based on the safe, cost-efficient and fast Ethereum blockchain protocol and proven financial hedging strategies. Unlike many other utility tokens, this coin has been designed to be a crypto asset backed by a certain tangible amount of gold.
As a result, the long term stability of the coin is ensured by its gold collateral.
KaratGold Coin is the brainchild of Harald Seiz, a German entrepreneur and financial industry veteran. The foundation of KaratGold Coin (KBC) was built by Harald’s first product CashGold. This is a user-friendly payment system where small gold bars are represented on a specific type of paper resembling a bank note.
The ecosystem also comprises of KaratPay and the KaratGold Wallet. The former is an online platform that facilitates the electronic registration of the CashGold. On the other hand, KaratGold Wallet allows users to buy, sell, hold and manage different cryptocurrencies along with cryptonized assets.
Some of the key benefits of KaratGold Coin are:
Harald Seiz explains:
“The global acceptance and recognition of gold as a safe and secure harbor will make the Coin and the CashGold one of the leading payment alternative worldwide. Therefore, holders of Coin will not only enjoy protection against inflation and vague governments and economies, but also have the opportunity to participate in the value increase which will be achieved in the future.”
Three of Asia’s largest gold trading firms have already partnered with KaratBars International to execute several million gold transactions on a daily basis. Moreover, a high percentage of the company’s 480,000 CashGold product owners have purchased KaratGold Coin to own small amounts of 24-carat gold.
KaratBars International is also in the process of opening one of the world’s earliest fully licensed cryptocurrency banks in Miami, offering an exquisite range of services for the traders, investors, investment firms, and individual consumers.
Enlistment in HitBTC is a significant step forward in this project and KaratGold Coin (KBC) is soon expected to make its way to other popular exchanges including Poloniex, Bithumb, Bitfinex, Bittrex, and many others.
KaratGold Coin is a blockchain-based cryptocurrency that is linked to physically deposited gold in the form of the so-called CashGold.
A certain number of KaratGold Coins can be exchanged for the appropriate amount of CashGold at any time. It is designed to be used as a generally accepted electronic payment means for all who consider gold as a traditional, true, secure and value-stable medium.