Many people say gold is one of the most difficult commodities to trade in the market. The trading of gold is filled with many rules which should be considered prior to embarking on such a journey. But the fact remains that precious metals like gold are very valuable in the market. Its rising value has created its higher prices making it increasingly restricted for trading in the market.
But currently, a well-known coin called GoldFund cryptocurrency has made the trading of gold a lot easier and rewarding. GoldFund cryptocurrency is a blockchain platform that focuses on assisting precious metal producers like gold producers get funds for gold production and investment.
Let’s now proceed to examine the meaning of the GoldFund crypto coin, its historical path, its ecosystem and wallet system, how to secure the coin, and its mining process.
History of GoldFund Cryptocurrency
Sourcing capital for mining and investment into precious metals is the sole aim of Tim McKinnon and his team of experts. With their wealth of experience in IT, finance, mining exploration, and corporate management, they were able to launch GoldFund Cryptocurrency in February 2018. Before its launch process, GoldFund was on the radar since January 2012 when its Gold Project started. Its gold exploration process was spread across three districts in New South Wales, Australia. It finally began its mining process in December 2017.
GoldFund took the blockchain industry by storm when they began their cryptocoin development in February 2018. On August 2018, its pre-ICO was launched allowing investors to participate in their token sales. Under its ICO Coin allocation, 10% of its presale was launched on 1st August 2018, another 10% of its presale was launched 1st September 2018. A third presale of 10% was launched on 1st October 2018 before its final 70% was allocated to cold storage on 1st December 2018.
GoldFund Cryptocurrency and its market value
GFUN is the name of its native token. It is issued on the ethereum platform. As at 18th April 2019, its price as against the dollar is 1GFUN=$0.00094187. It has a circulating supply of zero coins and a maximum supply of 10 billion coins. GFUN is currently traded across P2PB2B, Worldcore, and Dcoin
What is GoldFund Cryptocurrency?
GoldFund cryptocurrency is an open source blockchain platform that provides a source of capital for investment in precious metals like gold. Its aim is to provide incentives and capital to precious metals producers in return for being rewarded with part of their products for purchase by Gold Buyers.
Before Gold producers can participate in their funding programme,producers of gold should be ready to buy GFUN coins. When gold producers buy GFUN coins, they are provided with the resources and capital to develop their gold mines. In return, gold miners and producers pay back some percentage of gold to GoldFund through their Zomia Gold Exchange.
With the launch of its GoldFund Cryptocurrency, GoldFund looks to bridge the gap between cryptocurrency coins and gold exchange. This bridge will help foster the trading of commodity goods like gold thereby making it easily accessible and cheap to the average man.
Trading tangible goods like gold in exchange for digital currency in a digital environment is the number one preference of GoldFund. The platform has a goal to establish a meeting ground where users can securely store their assets and trade them for GoldFunds quickly and safely through its decentralized environment. This is done without the use of the third party which was designed as a full blockchain-based ecosystem which gives hope to individuals or companies looking for easy access to trade their gold assets from any part of the world.
With its Ecosystem flowcharts, gold producers can access capital from GoldFund in GFUN coin and convert them to their respective fiat currency or cryptocurrency before using them on their Gold mining production. These funded capitals are used to support the production of gold mining and create a sufficient supply of gold for trading. Gold producers are required to pay their percentage of gold produce using their Zomia Gold Exchange at a discounted price.
Zomia Gold Exchange
Zomia Gold Exchange is GoldFund exchange point for discounted prices. With this exchange, you can trade your produced gold in exchange for fiat currency or cryptocurrency. Zomia Gold Exchanges makes it easy for you to choose your delivery option or store your gold securely in the Mint’s vault. The Zomia Exchange provides GFUN coin holders the ability to purchase gold at discount price of 30% below the market price.
How to start using GoldFund Cryptocurrency
Create a wallet – Wallets are storehouse that gives you access to your coins whenever or wherever you need it. Before using GoldFund cryptocurrency, you need to have a wallet that allows you to store your private and public keys that leads to your GFUN coins.
Currently, GoldFund is launching its web wallet that supports the exchange of Bitcoin and GFUN coins. Firstly, you have to buy Bitcoin from Coinbase because there is no direct exchange of fiat currency with GFUN coins. This will help you trade your Bitcoins for GFUN coins from P2PB2B, Coinhub, SOAR exchange, or Mum Token. Before exchanging your Bitcoin for GFUN coins in either of the exchange platform above, it requires you completing their registration process. Their registration process involves using your email and password to begin trading.
How can it be mined?
Trading gold assets for GFUN is the easiest way for its mining process. Currently, the Australian based company requires no hardware or software mining tool for its mining process. The use of its ICO funds was distributed to cater for all funding processes within the GoldFund Platform. The categories are as follows:
- 56% of its mining funds which is the major part of the GoldFund capital pool to be directed at existing goldmines
- 30% for the development of additional acquisitions for near term assets, and finally
- 14% for operation costs like finance and legal costs, advisors, staff and general expenses.