What Is Digix? (DGX) Complete Guide Review About Digix.

What Is Digix?

Digix Founded in Singapore in Dec 2014, (DGD) is building a decentralized autonomous organization (DAO) that specializes in the tokenization of physical assets. The project provides the infrastructure to create tokens backed by physical assets on the blockchain. To wit, it allows for the public verification of an asset’s existence through its chain of custody via its Proof of Provenance (PoP) protocol, which makes use of the Ethereum network and the Interplanetary File System (IPFS).

Digix Storage Key Points

How To Get Start?

Create an account

Digix Fill in few details, without the hassle of uploading documents.

Register your wallet

Choose between Ledger, Json, Metamask and Trezor.

Buy DGX

Digix Coin congratulations, you can buy now DGX with crypto.

Feature

Move gold across borders

Don’t be limited by the physicality of the gold in vaults. Manage your gold holdings 365 days a year.

Micro Accumulate Gold

Digix believe each of you has the right to a reliable form of money. You can now micro accumulate gold with DGX tokens.

100% Transparent

You have access to a 100% of the gold buying process. Each bar can be looked at by anyone, anywhere and at anytime.

The transparency. Your assurance.

Every gold bar backing DGX is always openly verifiable by the public, 24/7, with blockchain technology. The vaults, located in Singapore and Canada, are accredited members of the Bullion Association and are fully insured.

What is recasting?

Recasting enables those in doubt to assure themselves that DGX are always 100% redeemable of the equivalent amount of gold.

Ecosystem

Digix Coin work with the following parties to ensure the highest level of operational security and transparency. They carry only gold of the highest quality, using 100-gram swiss gold bars from world-class refineries such as Valcambi, Produits Artistiques Metaux Precieux (PAMP) and Metalor. The custodian vault is The Safe House Singapore.

DGX Token

There are two different tokens procured by DigixDAO. The first is DGX – or Gold Tokens – and the second is DGD – DAO Tokens. More on the background on the DGD tokens can be read in the post about . The DGD tokens can be exchanged for DGX tokens after fees of transactions have been deducted. However, both tokens should be considered if one tends to utilize the DigixDAO blockchain fully.

At the time of writing, there are some 2 million DGD tokens in circulation. DGD holders get to claim rewards on transaction fees of DGX. Transaction fees are at 0.13% of the amount transacted. So, each DGX token represents 1 gram of 99.99% LBMA standard gold. The company regard themselves as parallel to E-gold, which at the peak was processing over $2 billion in transactions per year in 2006. It was later shut down due to allegations of illegal activity.

Conclusion

Digix While gold is a tremendously valuable asset, there are some downfalls to buying and selling it as a commodity. It is quite raunchy and calls for very secure storage. Because of the store-of-value aspect, the asset is prone to attracting high fees for insurance, and there are many middlemen who will try and boost their fees to maximise their profit to your cost. Trading digital gold is a good solution – the gold is real, stored safely and securely in one place (in Singapore) while you can trade all over the world. DigixDAO promises to keep their gold trading prices low, making them a very tempting prospect if trading in gold is something that you are interested in.