Gold used to be the de facto money. Today, due to the difficulty in using it as cash, gold has been relegated to the commodity class. It still has value that rises and falls due to market forces, but have you ever tried to use gold to pay for your order at Home Depot?
Gold is simply too valuable to be easily used as cash. In the old days, when gold commanded lower prices, it was practical for people to carry it around in their pockets for daily spending. But today, a small gold coin is worth hundreds of dollars, making gold something to hide away in a safe, not to spend on morning coffee.
Well, that’s the common sense explanation anyway, but there are some people in the gold markets who still believe that gold should be used for money on the regular basis. This argument is typically based upon suspicions about the foundation of fiat currency – money no longer backed by gold but by government promises.
For people who accept that fiat currency is foundationless, gold is finding new relevance. But there’s still the problem of spending it. This problem has been attacked with incredible force by a company called Karatbars, and their creator/CEO Dr. Harald Seiz. The solution of Dr. Seiz is to sell gold in very small quantities, and in interesting packages. The most interesting of these is CashGold, paper currency notes with tiny (0.1 g) gold bars stitched into them. They fit into a wallet just like dollars, making them easier to use for regular exchange.
However, the portability of these notes makes them no easier to spend online. To counter this difficulty, Karatbars introduced the KaratGold Coin in 2018 – a cryptocurrency which is exchangeable for gold. Starting July 4, 2019, KaratGold (KBC) holders will be able to swap their cryptocurrency for CashGold notes.. But if they want to spend their money, they can spend KBC through the K-Merchant app, or within the IMpulse K1 Phone – an Ethereum-driven blockchain phone where KBC is the native token accepted for all financial matters.
This method fully digitizes gold and give the coin a clear utility and value. Through KBC, users can own gold without having to ever see, touch, or store it. Should user wish to buy more, they can do so with Bitcoin, Ethereum, or one of several fiat currencies.
How can this system be trusted? Well, Karatbars has been in business since 2011.
This changes everything for savvy gold investors. Gold doesn’t have to be something locked away in a vault. With KaratGold Coin, you can buy it, spend it, trade it at the drop of a hat, without having to suffer the price volatility of Altcoins. It’s a perfect system that might just change your opinion of gold in 2019.