Every so often a new project emerges in the crypto market that captures the imagination of the community. It’s been eleven years since Bitcoin introduced the world to blockchain technology. Today, there are thousands of coins available. Most of these coins fall into some form of categorizations such as crypto, utility, or security tokens.
Interestingly, this year has seen the emergence of some new and exciting hybrid tokens to the market. These tokens are able to bridge the gap between the different digital asset classes to provide investors with a better UX. Here are the most popular types of coins in the market today.
Cryptocurrencies such as Bitcoin are still very popular in space. These were the first type of blockchain assets to enter the market. Today, there are new cryptocurrencies entering the space, however, most new cryptos also serve a secondary function rather than solely as a peer-to-peer cash system.
A stablecoin is a cryptocurrency that gets its value from another asset. Since the earliest days of cryptocurrency development, programmers have tried to figure out a way to pin digital assets to real-world commodities such as gold and silver. It wasn’t until recently that the technology caught up with these developers’ plans.
There is a huge variety of stable coins in the market. Each type serves a specific purpose. The main types of stable coins are fiat-based, crypto, and commodity coins. Fiat-based stablecoins derive value from a fiat currency such as the USD. These are the most common types of stablecoin in use today.
Fiat stablecoins are convenient and easy to access. Almost every major exchange has some form of fiat-based stablecoin available. Converting to stablecoins during market volatility allows investors to escape the volatility without paying fees for exiting the market completely. Additionally, it’s much faster than converting funds to fiat currency.
Fiat-based stable coins are good but they aren’t as stable as their commodity-backed counterparts. Commodity backed coins attempt to pin the value of a currency to a commodity such as gold, silver, oil, or any other global commodity. Today there are commodity coins of all varieties. You can invest in everything from diamonds to platinum using these coins.
The main concern for anyone investing in commodity-based stable coins is the same as fiat-backed investors, how to ensure the value of the token remains pinned to the underlying asset. It’s common now for platforms to allow third-party audits to provide this peace of mind to users.
Cryptocurrency pinned stable coins were one of the first types of stable coins to enter the space. These tokens have some advantages and disadvantages that make them unique. For one, since they are pinned to other cryptocurrencies, they aren’t as stable as their fiat or commodity-based counterparts. However, because they are completely blockchain-based, these platforms provide unmatched transparency.
Users can easily see that their assets remain pinned because every action is available to the entire network via the blockchain. Additionally, every process leverages smart contracts to automate the procedures. There is no human error in these transactions.
The next type of blockchain asset is investment coins. These coins function like stocks or securities and provide you with dividends from your investment. These dividends can come in the form of a revenue share or other bonuses. In the case of GSX, token holders receive yearly dividends proportionate to their percentage of holdings in the platform.
These dividends automatically disburse via smart contracts to the wallet of the token holder. There is no extra effort on the part of the investor required to secure these yearly payouts. Even more impressive is that GSX payments go up yearly because they are based on the price of the company’s mining operation.
Specifically, GSX is pinned to a lucrative 5,000 square-foot mining operation. As a token holder, your dividend payment is based on the value of the gold assets, the mining equipment, and the actual value of the land and mine. The great news is that every time a new vein of gold is discovered, the value of the mine increases.
This increase applies to the entire operation. Additionally, the price of gold continually appreciates, so there is even more ROI for investors to look forward to in the future. Combining these assets also provides investors with more protection against losses that might occur from any one type of digital asset in particular.
Perhaps the biggest reason behind the GSX hype is the fact that it’s the world’s only quantum-resistant stablecoin. Quantum computers pose a serious risk to blockchains such as Bitcoin and Ethereum. Only Apollo’s blockchain was built from the ground up with these concerns in mind. Since GSX utilizes Apollo as its core technology, it inherits all of these security benefits.
Another major advantage of GSX is its practicality. It doesn’t take much to set up a GSX wallet and you can send funds globally in seconds. GSX is able to conduct micro-transactions across its network in near real-time. Also, GSX can make million-dollar transfers for pennies. In comparison, Bitcoin’s network is only capable of around 6 transactions per second. Apollo can handle thousands
It’s easy to see that the market has needed a token like GSX for a long time. With Bitcoin’s scalability concerns and Tether’s auditing issues, the market is ready for a new coin to take the reins and lead the sector into the future.
Now You Know
It doesn’t take long to notice why so many people in the market have an interest in GSX. This coin is by far the most versatile and flexible blockchain asset to date. Impressively, the Apollo ecosystem will support a variety of different uses for GSX in the future. In this way, GSX continues to see expanded use cases. You can expect to hear a lot more about this project in the coming weeks.
For now, GSX is only available at GSXCDE. The platform has some nice discounts at this time. VIP investors can look forward to 50% off their purchases.