Re: [ANN] Elitium - A Digital Economy to Lead a Life of Independence, Value & Growth
PAXG would have some benefit especially if you used to own gold on a local provider. Usually, the provider uses the market marker system where there is fix spread of buy and sell, and it's usually pretty wide if we view it from the crypto perspective. The price movement is also quite slow. Also, there are buy/sell fees. With PAXG, you can trade it on big exchanges, and the fees are minuscule compared to the traditional gold companies. However, there is a risk associated with the company, the same with the conventional companies.
It's a far easier method to own gold versus carrying the physical storage or having it as a note. Of course, people like to own gold because it is stylish and represents luxury and wealth- absolutely nothing wrong with that!
Gold took a recent hit today. Instead of going to the local gold shop to buy a new chain or ring to sell at a later date, you can easily do the same with EUM or other cryptos. Talk about saving time, money, and patience.
With the adoption of gold within the crypto ecosystem, we will be able to see a lot more appreciation in value, also with other precious metals.
Which risk are you referring to? The regulatory aspect of it or physical vault storage?
