What is KaratGold Coin? KaratGold Coin (KBC) is a blockchain-based cryptocurrency project linked to CashGold, which represents digital gold. cryptocoin.com In this article, we answered questions such as what is KaratGold Coin, what it offers, what is KBC, what is it, how to buy it. Let’s examine together this crypto money project, which is connected to physically deposited gold.
What is KaratGold Coin?
KaratGold Coin (KBC) is a cryptocurrency project backed by physical gold. This project was launched by Germany-based Karatbank. KaratBank owns a gold mine in Madagascar that holds around 900 million euros. The company also holds shares in a mine in Brazil. KaratGold Coin is a digital gold whose project was launched by KaratBank in this context.
KBC aims to be a cryptocurrency backed by gold. It uses Blockchain technology and cryptography for this. However, KBC is not the only asset of KaratBank. The company has launched a cryptocurrency called KCB in the past. However, as a result of a hard fork in 2019, networks and assets merged. As a result, only KBC coin remained. The project also renewed its smart contracts on Ethereum after the hard fork.
What is KBC? What does it do?
Users can use KaratGold Coin as a store of value. It is also possible for them to make high profits by trading with this asset. The cryptocurrency market is extremely volatile. However, stablecoins backed by commodity or fiat currency have relatively lower price volatility. For this reason, they are seen as a “safe haven” by investors. As KBC is backed by gold, it is also possible for investors to invest in gold digitally.
However, the KaratGold Coin price is affected by the developments within KaratBank. Harald Seiz, who is the CEO of the company, has guaranteed that 100 KBC tokens will equal 1 gram of gold in 2019. However, this warranty expired on December 14, 2019. Subsequently, the company launched other incentives and promotions in their ecosystem. At this point, users who have a certain amount of KBC have the opportunity to earn passive income as Masternode. However, due to some later developments, the KaratGold project has bottomed out.
What is KaratGold Coin? How to take KBC?
KaratGold Coin was targeted by the German Financial Regulatory Authority BaFin on November 11, 2019. The organization asked KaratBank to stop the KBC project and token distribution. After that, the price of KBC collapsed. However, it is still traded in the market. Currently, the cryptocurrency is traded on the YoBit exchange.