Metallic gold has the symbol AU taken from the Latin name ‘Aurum.’ SHA256 cryptocurrency has also been given the acronym “AurumCoin (AU)” to symbolize it with pure gold; it is the first-ever gold-backed stablecoin that was founded in 2014.
AurumCoin is the new form of cryptocurrency developed to revolutionize the innovative technology behind global cryptocurrencies like Bitcoin and integrate them with the timeless value of gold. AurumCoin is different from other cryptocurrencies as it surpasses the fluctuations and high exchange fees. Each coin’s value is based on the value of gold, which is a much stable medium of exchange compared to any other currencies. AurumCoin has its own separate blockchain network that manages all the transactions.
AurumCoin, like any other cryptocurrencies, uses the innovative peer-to-peer technology that allows anyone to settled anywhere across the globe to send and receive AU coins. AurumCoin project developers created their own crypto wallet, and users need to use this wallet to transact AU coins. Each AurumCoin is backed by 1 Oz of gold that is preserved in high-security gold vaults placed across the globe.
Each AU coin’s par value will always be fixed, and that is 1 Oz of pure gold. This will enable a constant production of 24-carat gold coins so that users can easily deposit and withdraw their investments just like any other currencies, like 1 Oz gold coin worth 1 AU coin. A maximum of 300,000 AU coins can be mined, which makes it possible to mine gold-backed cryptocurrency.
Features & Future of AurumCoin
AurumCoin has some unique features that contribute to its potential for becoming the global future currency.
- Each coin’s value depends on the value of solid metallic gold, and therefore it is much more stable even amidst rampant market fluctuations.
- AurumCoin can be used both as digital and physical currency, and therefore the coin holders can use it as per their convenience. It preserves the value of money, thereby reducing the conversion rates.
- AurumCoin serves as a perfect medium of exchange for international transactions as it is independent of any kind of exchange fees. Moreover, this SHA256 cryptocurrency is compatible with the present-day payment applications and gateways.