A classic, gone digital. DGLD Now Exclusively Available in The PIT

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A classic, gone digital. DGLD Now Exclusively Available in The PIT

In October we introduced you to DGLD, a network with more than $20M in investment grade gold allocated in Swiss vaults and secured using Bitcoin.

Now, as a result of excellent work within our walls and with our fellow partners behind DGLD (CoinShares and MKS), we’ve completed the next phase of the roadmap and are excited to launch trading of DGLD exclusively in The PIT!

If you were away for vacation, distancing yourself from your phone, or are one of the many new Blockchain.com users to join since we announced DGLD — don’t worry. We’ll remind everyone of the key details behind the token, and add some about why we think this matters so much.

What is DGLD? How does it work?

DGLD is a digital asset representing allocated physical gold stored in a Swiss vault, and tokenized with a side-chain built on the Bitcoin network. In doing so, we’re empowering convenient, 24/7 purchasing of gold, with the independence of physical gold ownership.

Each DGLD token is the digital equivalent of 1/10th of a troy ounce of gold, vaulted in Switzerland. Before a new token is created, gold is allocated and placed in the vault. Then, a DGLD representing that specific gold is created and sent to a DGLD wallet. This simple approach unleashes physical gold and renders it both digitally usable and physically redeemable.

Why does DGLD matter to you?

Despite what you may read on Twitter or on the forums of Reddit, gold’s value to investors isn’t going away anytime soon.

Central banks in countries like China, Russia, India, and Turkey are buying large quantities of gold. In just the first quarter of this year, it is estimated that central banks purchased 145.5 metric tons of gold, a 68% increase over the same period in 2018 — and it’s largely for good reason.

We have centuries of data on the value of gold as a store of value, and it’s impossible to overstate that track record’s importance on governments’ appetites for gold.

This institutional support often pits bitcoin believers vs. gold bugs where only one can win. But this outdated myth that they are rivals ignores the complementary attributes they share as investments for anyone who trusts their financial future in hard assets.

With DGLD we’ve thrown out that false competition to make a hybrid asset that combines the best of both for users. A mix of characteristics that could make DGLD a fit for a person in:

  • The UK worried about the economic impacts of ongoing Brexit discussions
  • Turkey trying to trade between gold and their crypto, but haven’t been able to cross the gap between them without converting into fiat first
  • India, the world’s largest purchaser of gold, and a country increasingly adopting digital gold formats
  • A country or economic zones with an unstable local currency

And these examples don’t even touch upon the largest levers economists predict could cause the next global depression like trade wars, sovereign debt restructuring, or political upheaval.

Bitcoin v. Gold — Why Choose?

DGLD offers a middle-ground and seamless connection between bitcoin and physical gold so you have maximum control, security, convenience, and 24/7 access

Let’s end the overhyped bitcoin vs. gold war, and embrace each of their unique features to create portfolios built for the times we live in.

What are you waiting for? Trade DGLD in The PIT.