Quote from: Ammaa on May 23, 2023, 12:32:02 PM

In addition to the blockchain-based projects, there are notable gold-backed cryptocurrencies that deserve attention. One such project is Bitxgold, a 100% gold-backed currency expected to be launched by Bitcoin billionaire Shahram Zandy Moghadam.

The idea of having a currency backed by in gold seems like an ideal solution to many problems, but what really happens is that there are no such currencies. All currencies that are stable or that try to link their value to a commodity will find that this link is not 100% supported, and therefore at some point the price will collapse. Because the time needed to liquefy gold is much slower than the dollar, and then the price will have lost part of its value, and more in the project trust.

The solutions may seem more restrictive, but the decentralized models have not proven successful yet.
The best is to invest in bitcoin as a long-term investment and a few altcoins after studying the project well.