Puregold PGT ICO: Gold-Backed Cryptocurrency Payment Tokens?

As we already know, Gold is one of the most precious metals known to man. Ever since the earliest civilizations discovered by us, there has always been a tremendous amount of interest in owning this precious metal. From a historical perspective we can see that gold coins first appeared around 800 BC, while the first pure gold tokens were used during the Lydia era.

According to information that can be found online, Puregold was established all the way back in 2010 as an “e-commerce store”. However, since then it has evolved into an all new crypto platform that allows for the trading of gold via the use of an electronic online exchange.

More About Puregold PGT

Puregold aims to become the first “gold payment gateway” which will make use of a cryptocurrency called PGG. This token is digital, but is supported by gold for the maintenance of its value. Some of the core components of this setup include:

  • Stored Value Cards: as the name suggests, these value cards have been designed for customer utilization for performing daily transaction activities.
  • Payment Terminals: to help increase the widespread usability of PGG tokens, the company aims to install payment modules that will allow for convenient (24/7) access to Gold Dispenser Machines (DM)
  • Payment Gateway: this will be a backend payment suite that will allow for online as well as mobile transactions to be completed via the use of native PGG coins.

Also, it is important to mention that the Puregold platform will make use of two separate cryptocurrencies, namely: PGT and PGG. Both of these tokens will run on two separate ledgers.

PGG will work through the use of a through a digitized ledger on the blockchain whose cryptocurrency value is based on physical gold.

Why Choose Puregold PGT?

Some of the core differences which make Puregold stand out from other gold cryptocurrency blockchains include:

  • Unique Payment Model: PureGold is the only payment gateway that makes use of a cryptocurrency that is backed entirely by a physical asset (gold in this case).
  • Uses Two Tokens: as mentioned in the previous section, this platform makes use of two separate tokens, namely; PGT for transactions; and PGG as a digitized form of physical gold.
  • Safe: all of the physical gold that is used to back the currency has been stored in a storage unit called The Safe House Pte Ltd. It is a third party audited warehouse which stores assets ranging from gold jewellery, to small ingots (up to 100 grams) to coins.

Other Key Aspects

(i) Transparency:

All of the transactions are maintained via the use of a decentralised ledger.

(ii) Assured Gains:

Since gold is not subject to currency inflation issues, its value either remains stable, or increases over time.

Puregold PGT ICO Token Details

Through the use of a crowdsale, PGT will be offered to customers at market rate of 1 ETH = 700 PGT. As per the whitepaper, participants will be given their PGT Tokens immediately upon confirmation of the transfer of ETH.

The company aims to sell a total of 50,000,000 PGT. The soft cap has been set at 10,000,000 PGT, a target which if not met, will mean that investors will be returned all of their ETH.

In all, there will be a total of 50,000,000 PGT tokens that will be made available to participants. In regards to the PGG token, it is essentially digitized gold and is issued by Puregold through the use of the current price of gold set on the LBMA exchange at the time of swap.

For any further queries regarding this platform, customers can contact company representatives via email.

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