Wednesday, December 6, 2017

It's a new week so that must mean it's time for another gold backed cryptocurrency ICO

It is definitely not a stretch to equate the rise of cryptocurrencies here in 2017 to the Dot Com boom of the late 90's, where internet companies sprung up almost daily like weeds in early spring.  And in fact we have seen an increase in new cryptocurrencies emerge this year at a rate of more than one per day.


End of 2016: Between 600-700

Dec. 6, 2017: 1324

As a whole, the cryptocurrency sector is diverse in many ways, from completely unbacked ones like Bitcoin and Litecoin, to resource backed ones like GoldMint and Darico.  And interestingly enough, the resource backed ones, particularly those backed by physical gold, are starting to accelerate as a return to Sound Money is part and parcel with the world's ongoing paradigm shift of populism.

And since we are on the topic of gold backed cryptocurrencies it should come as no surprise that a new one is ready to ICO this week.

World’s first 100% physical gold-backed cryptocurrency – CURRENSEE announces its launch.  Historically, gold has been the mode of payment and wealth preservation. However, it requires expensive security, safekeeping, and insurance. CURRENSEE Coin will bring the unique characteristics of Gold into the Blockchain space with its long-established role as a store of value with cryptocurrency’s global payments network technology. 
“We want to give investors the opportunity to purchase before we list on exchange“, confirmed R. Mitteysh, co -founder – CURRENSEE, adding further he said “We are also offering lucrative bonus under various referral programs.” 
Juned Khan, co-founder – CURRENSEE said “The basic principle is very simple. The issued coin will represent One gram of gold which in itself will be held in a secure, insured and audited vault. In addition, every single transaction will generate a small transaction fee of which 80% will be reinvested into more gold”. This will cumulatively increase the amount in Gold that will back each of the coins. In essence, the real value of each coin will increase over time because of the Gold being reinvested from the transaction fees. He added “This will ultimately make CURRENSEE very unique when compared to the characteristics of other cryptocurrencies”. 
Major advantage of the CURRENSEE is that it will have an intrinsic value just as Gold. This is unlike other existing cryptocurrencies that have no intrinsic value, because their value is based on demand and supply and the altitude of users on the specific Cryptocurrency. 
The amount of CURRENSEE coins that will be issued at the Initial Coin Offering (ICO) will be 15,000,000 tokens. All these will be available for purchase through the official website of CURRENSEE. The gold that will back the coin will be insured by Lloyds Group which will ensure that all the funds and gold that involves the Coin offering is safe. – News BTC

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