In human history, one of the most important developments of the financial world is cryptocurrency. The volatile nature of the crypto market draws and keeps various recreational investors on the sidelines. However, a new and less volatile cryptocurrency investment is gaining popularity nowadays. These are the digital tokens that represent real-world assets and provide numerous opportunities to transform business like the AABB Gold token which is a gold-backed crypto. An excellent way to avoid inflation is to invest in commodities-backed cryptocurrencies, which use precious metals as their source of value. 

Gaugecash Index System header

AABBG has been becoming a promising currency lately. Its prominent link with gold prices makes it great for storing investments and making transactions related to sales/purchases. Its value is directly affected by the worth of the underlying commodity. The ownership over these tokens shows who owns the asset. The potential of commodity-backed tokens can already be observed since they have been gaining traction. Previously, illiquid markets can gain liquidity by using blockchain technology to token assets and commodities.

What is Gold-Backed Cryptocurrency?

It is a digital derivative asset and a type of crypto stable coin in which the tokens are backed with physical gold. An equal price of gold underwrites its value. Each token arbitrarily defines the equivalent worth of certain grams of gold. There could even be redemption of tokens back for gold.  The majority of the gold-backed tokens exist as ERC-20 standard tokens. A gold-backed token does not have a speculative value like other cryptocurrencies, but its value is tied to a tangible asset. So, it is not affected by severe price fluctuations. One of the biggest advantages these tokens hold is that they can be transferred to another party in small divisions.  Historically, gold-backed cryptocurrency has struggled with several systemic issues like ascertaining the proof of reserves, low liquidity and collateral safekeeping by dependence on central parties. The AABB gold token comes across as a solution to all these issues. Cyptocurrency is directly proportional to that of physical gold. Both go up and down together, so these tokens inherit the stability of gold. 

How will asset-backed tokens revolutionize crypto lending?

Crypto lending is an increasingly popular and lucrative feature of exchanges, gradually becoming more familiar in the industry. It relies on a single concept by which the borrowers use their digital assets to get stable coin loans or use stable coins to borrow digital assets. Lending is crucial for markets and especially for the crypto market, as it acts as a growth fuel.  Currently, crypto-lending currency relies on a small number of asset-backed tokens and stable coins. However, the picture is most likely to change gradually as many businesses see the potential in creating their own stable coins. It won’t be long for various custom stable coins to be created and draw more real-world asset holders and businesses into the crypto-lending space. These businesses will generate returns for themselves and their clients by putting their assets to work. This whole cycle fuels the next wave of business innovation.  When we use gold-backed crypto for lending, it gives us various advantages like: – Gold has real asset value and price stability. However, the US dollar does not have any intrinsic value, and its purchasing power has also markedly fallen over the past fifty years.  – Lending crypto-assets can earn significant rewards for lenders by diverting capital. The lenders realize direct ownership of the gold bullion when their rewards are paid in gold-backed stable coins. 

Gold-backed cryptocurrencies: Are they better than regular ones?

It is believed that gold-backed crypto tokens are better than both simple tokens and gold, as they combine the advantages of cryptocurrency and gold. Here, we will discuss a few differences between traditional cryptocurrencies and gold crypto tokens. 

Offers a store of value or investment

Gold-backed cryptocurrency investment is viewed as a great investment opportunity and a store of value. Most people look at cryptocurrencies as a solid investment because of their volatile nature. Gold crypto tokens are just a subset of stable coins that provides the benefits of cryptocurrency. 

Connects to the blockchain

Gold-backed cryptocurrency connects the investors to the blockchain in addition to providing the benefits of the gold. The connection to blockchain makes it easy to buy and sell the tokens and shop using them. This proves to be more practical than the physical gold.

Easy to buy and sell

The connection of gold-backed cryptocurrency to blockchain facilitates its buying and selling and makes its transactions easy via small contracts. 

Stability and Reliability of Gold

The price of gold-backed cryptocurrency is directly proportional to that of physical gold. Both go up and down together, so these tokens inherit the stability of gold. 

Easy to store

You do not need any physical space with proper security measures to store the gold crypto tokens. Instead, they can be easily stored in digital crypto wallets that are readily accessible and do not require physical security.  So, gold-backed cryptocurrency is a better store of value than other cryptocurrencies. It is stabler and easier to sell, buy, and store than physical gold.

What is the AABB Gold Token?

The AABBG token is designed as an investment with 100% real gold backing. Asia Broadband, Inc. (OTC: AABB), the company behind the token, keeps actual gold in high-security facilities in Mexico as collateral. AABBG is the only cryptocurrency in the world with a vertically integrated gold-backed mining system. AABB uses the mining production segment of the company to back 100 per cent of the AABBG token with physical gold assets. Thus, it offers the stability of a stable coin while having the anonymity of a cryptocurrency investment. There is a minimum of 0.1 grams of gold backing every one token. AABB sold over one million gold tokens in just its first two weeks of operation. The AABB Gold token is an Ethereum-connected token that is compliant with the ERC-20 standard. The AABB Wallet app can be downloaded from Google Play Store and Apple App Store. AABB Gold tokens can be bought using the app; users just need to send cryptocurrency to receiving addresses in their AABB Wallet. For users to receive AABB Gold tokens, they should first download and sign up for AABB Wallet. After that, they will have to complete KYC. Upon approval, users can transfer funds to their wallet and use them to purchase AABB Gold.

 

Which features make the AABB Wallet unique?

AABB Wallet is the best crypto wallet that lets you store your digital assets securely and send crypto funds instantly. The wallet supports instant transfers of big cryptocurrencies such as Bitcoin, Ethereum, altcoins, and AABBG. It is regarded as a leading blockchain wallet for all crypto coins and tokens.  The first version of the AABB Wallet allows users to exchange AABB Gold tokens with other users of the AABB Wallet. This version aims to increase token circulation and generate enough revenue to support and stabilize the price of AABBG on the market once the token is traded. Here are some of the unique features of the AABB Wallet that makes it a best crypto wallet: 

A fast and reliable service

The best feature of the AABBG Wallet is its ease of use, which allows it to send and receive crypto instantly without any delays. Using it, you can quickly exchange your cryptocurrency.

Security at its Best

It offers its users the best security. As a result, the users have easy access to their funds, since it was designed to protect them from hackers and theft. You have to enter a PIN code and passphrase to protect your crypto, and you have to do it with every transaction.

Absolute Anonymity

Third parties can’t see the transactions made on this wallet. The encryption of your crypto keeps no one from knowing how much you own. The wallet provides total anonymity when it comes to who receives your tokens.

Send crypto through social media

The AABB Wallet offers its users the ability to send AABB gold to other users through social media, email, and SMS.

B2B and B2C Transactions

The wallet is efficient for B2C or B2B transactions. Furthermore, it enhances B2C and B2B referral programs.

Low Transaction Fees

The AABBG Wallet offers low withdrawal fees when withdrawing any cryptocurrency. Furthermore, it uses your AABB Gold as your main currency for all gold-related transactions.

Users’ full control

The AABBG Wallet does not track, hold, or access any user’s crypto. It is completely up to the user to manage the wallet. The user can choose a six-word pin if they wish to secure the information more.

 

Updates on Asia Broadband’s upcoming proprietary exchange

Asia Broadband has achieved numerous development milestones in the initial months of establishing its proprietary cryptocurrency exchange. The company’s AABB Gold-backed token has recently launched, while its proprietary exchange version of AABBG Wallet is still under development. AABB Wallet users will be allowed to do quick two-way exchanges of their gold-backed tokens for other major forms of cryptocurrencies. The proprietary exchange will add tremendously to the transaction fee revenues. Influenced by the limited amount of tokens and the market demand, it will allow the price appreciation of AABBG beyond the gold price.

The exchange completion timeline is on the path for testing in mid-August after several months of development. This is accompanied by the live Exchange launch that is expected in early September. By then, there will be two forms of exchanges available to the users for transactions. The Advanced Exchange will allow users to sell or buy orders manually at the selected prices. On the other hand, the Quick Exchange allows the rapid trade of one currency for the other at the best-offered price.  The recent decline in the value of major cryptocurrencies and the rising value of gold have made AABBG one of the more promising cryptocurrencies.

Gold crypto tokens are an ideal store of value investment as their minimum price rises with an increase in gold prices. It might be a method of payment for purchase transactions shortly.  The second month of Exchange development has led to the completion of a few milestones written below: – Users can instantly display transactions on their account due to blockchain network upgrade. – Upgrade and add the ripple network (XRP) to increase the platform’s bandwidth and reduce the direct fees charged to the users. – The KYC optimization process has been completed and a new KYC form has been added for the users’ convenience. – Creation of the web version of the AABBG Wallet has started and is scheduled for completion by the end of June. – Their email database has also been upgraded to facilitate sending bulk emails of marketing content and updates.

Conclusion

In this fast-paced world where digital currency is gaining popularity gradually, most investors and businesses are interested in the cryptocurrency industry. Having so many tokens and coin choices for investment, most investors prefer gold-backed cryptocurrency nowadays.  As discussed previously, it has many benefits and provides a completely new outlook to traditional businesses. Moreover, as these tokens provide a great store of value and their price is backed by physical gold, it is considered excellent for investment. So, if you are an investment enthusiast, keep the positive points of these tokens in mind before picking any other cryptocurrency. 

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor. 

TOP 10 UK CRYPTOCURRENCY BLOGS, WEBSITES & INFLUENCERS IN 2021 

CLICK HERE

Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.