Bitgold to Follow Bitcoins Footsteps

With so many people turning to the internet to allow them to make purchases, sell services and conduct businesses, the idea of digital currency or money – internet based mediums of exchange is starting to be an appealing concept.

Bitcoins and bitgold are the first examples of digital money known as crypto-currency, an alternative currency which uses cryptography to secure transactions and control creation. Bitcoins were developed in 2009 by Satoshi Nakamoto. As of August of 2013, the value of all of this digital currency in circulation exceeded $1.5 billion.

You can think of bitcoins as cash for the internet. You can earn and keep bitcoins in a digital wallet which you can access via a mobile app or through a computer. You can use them to pay for transactions online.

trading-gold-onlineOne major advantage of bitcoins is it allows for the payment and receipt of money anywhere and anytime. Many people and businesses are starting to favor this digital currency as it allows for quick and easy international transactions.

Bitcoins can be created and earned through digital mining. Bitcoin mining awards the ecurrency to users as a reward for allowing their computers to be used to run verification processes to validate Bitcoin transactions. You can also earn bitcoins by offering an online good or service that accepts bitcoins as payment. Bitcoins can also be bought via bitcoins exchanges or through websites that facilitate the buying and selling of bitcoins.

Bitgold is based on the bitcoin concept. Bitgold is being offered by bitcoin exchange companies as a new form of crypto currency.
Bitgold is a digital currency that is linked to or backed by gold. Bitgold can still be used for online transactions the same way bitcoin can but at the same time it can also be used to store wealth as the bitgold has an equivalent value in real gold.

As one company that deals in bitgold, Bitreserve explains, those who use their exchange can hold their bitcoin as a stable gold value and spend it anywhere the digital currency is accepted. Bitreserve members can convert their bitcoins to bitgold, whose value will be substantiated by bullion in their reserve. They can then spend this in any transaction that accepts bitcoins.

Another company that deals in bitgold is the Canadian digital currency startup, BitGold. BitGold aims to provide global access to gold for secure savings and transactions. BitGold will allow its users to use gold as a core saving amount which they can then use as digital currency allowing them to conduct transactions online.

Newnote Financial Corp and Anthem Vault Inc. also offer gold-backed digital currency, what their calling the MGC or Micro Gold Coin. The MGC is an open source crypto currency similar to the bitcoin and can be used as such, but it is considered bitgold because each MCG is backed by 100 grams of gold that are stored at Anthem Vault, giving them a base value that ordinary BC’s do not.

With their ability to be a tangible source of wealth as well as a digital currency, bitgold intends to not just be a valid medium of exchange but also an appealing investment to those interested in the burgeoning digital currency market.

Will Gold Prices Rise in 2015?

Experts are predicting that gold prices will increase in 2015, with volatility in the global market prompting investors to turn to gold. Gold prices haven’t really been doing very well in the past years. In 2011, they reached a record high of $1921.50 per once but have not risen since then. In fact, in 2014,…Continue Reading

Gold Buyers in Newark, New Jersey

When it comes to buying and selling gold in Newark, New Jersey, you need to find the most reliable gold dealers that can offer or pay you the best value for your gold. There are plenty of unscrupulous dealers right now who will offer you instant cash but at a very low price. These types…Continue Reading

Gold Dealers in Anchorage Alaska

When you are looking to sell gold in Anchorage, Alaska, you’ll want to find reputable dealers who buy it near the current market value. Finding buyers who are reliable and treat you fairly is important to ensure you get the maximum return for your precious metals. Gold has increasingly raised its value for years now…Continue Reading

Buy and Sell Gold in Lexington, Kentucky

When running out of cash, one of the best options would be to buy and sell gold in Lexington, Kentucky if you are a resident of this state. We know that these days it can be pretty hard to balance your expenses and to still have something extra for emergency purposes. But what if that…Continue Reading

10 Things to Know Before Buying Gold

Anyone can be an investor in gold, whether young or old, as long as they have enough funding for it. The only difference that you would see in these investors however, is how they manage gold. Do you buy and then sell it after a few years? What type of gold should you buy? When…Continue Reading

Gold Buyers and Sellers in Plano, Texas

You can find plenty of gold buyers and sellers in Plano, Texas who can provide you with an honest and accurate price for gold.  Gold is considered as one of the best assets that one can invest on especially since it requires little storage space and which increases in value in time.  As such a…Continue Reading

Buying and Selling Gold in Toledo, Ohio

If you are interested in buying and selling gold in Toledo, Ohio, you can visit the following gold buyers in the area.  They are all professional gold buyers and sellers that you can rely on when it comes to honest appraisals as well as product quality.  You should never conduct any transactions with gold dealers…Continue Reading