DGLD Listing: Blockchain Adds New Digital Gold Token On Its Native Exchange – THE PIT

DGLD Listing: Blockchain Adds New Digital Gold Token On Its Native Exchange – THE PIT

One of the trusted, reliable and most-secure wallets in the crypto space, Blockchain has recently announced a new token (DGLD) listing on its native crypto trading exchange, THE PIT. The news, which was spread a few hours ago on one of the social media, twitter handle. Using cryptocurrency and blockchain technology, the Digital Gold token “is a network with over $20 million in investment-grade gold allocated in Swiss vault and secure in Bitcoin”.

As stated on Blockchain blog site, after going through a diligent and excellent result, the token’s next phase of roadmap is completed as the team is ready to launch DGLD exclusively for trading on the native exchange.

What Does It Mean To Hold DGLD?

First and foremost, “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”. The token allows you to own a bar of physical gold, although the equivalent is  calculated base of the volume of DGLD token one holds.

In a recent tweet by Blockchain, the digital gold token is said to be backed by physical gold bars which is set for buy and trade on the official crypto trading exchange:

Holding a unit of DGLD token is equal to a one-tenth of a troy ounce of Gold, which is automatically secured in Switzerland vault. More so, the cold-storage wallet allows newly created token (DGLD) to be allocated and placed directly in the gold vault, through any form of transaction. However, this system makes it easy accessibility and convenience for investors to redeem and retrieve both the physical and digital gold asset.

Meanwhile, the initiate behind this project is envisioned to bring commodity (gold) trading into the blockchain ecosystem through cryptocurrency, for easy and convenient exchange amongst gold investors and traders.

Following a retweet by blockchainPIT, the native crypto exchange by Blockchain, DGLD token is now exclusively trading pairs with USD and BTC:

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Author : Michael Fasogbon

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Michael Fasogbon is a professional Forex trader and cryptocurrency technical analyst with over five years of trading experience. Years back, he became passionate about blockchain technology and cryptocurrency through his sister and has since been following the market wave.