Stacking silver – the process of accumulating silver bullion as an investment or protection against inflation – has long been complicated, tedious and expensive. At every level of the process, from finding trusted suppliers, to paying for storage and security, down to the need to handle the metal with gloves, there are layers and barriers that prohibit the average investor from taking advantage of the metal hedging qualities.
The experience of silver stacking is about to take a huge leap forward however, into the era of the modern economy. AGX Coin, the silver-backed stablecoin produced by the LODE Project, is soon to be listed on Hotbit, a leading exchange with approximately $100,000,000 in daily trading volume, according to Coin Market Cap.
LODE powers a transition to digital stacking with silver and gold stablecoins
Both silver and gold have long been viewed as monetary metals, playing crucial roles in investor portfolios as hedges against rising inflation and global currency devaluation. Recognizing their historic status as safe-haven investments, one bold community is aiming to bring them into the digital era and democratize access to these undervalued and underutilized assets. The LODE project has utilized the innovative application of blockchain technology to give these metals a role in the digital economy, changing the game completely for silver stackers.
Their primary innovation is the development of a digital stablecoin (all the advantages of cryptocurrency, with none of the disadvantages) whose value is anchored by silver: the AGX coin. Similar to the precious metal-backed currencies of the past, the coin is redeemable for a fixed weight of silver (1g), while its golden counterpart, the AUX coin, is redeemable for 1mg of gold. Using blockchain to track and secure the coins, all the hassle of storage and handling is covered by their bullion partners, making stacking nearly effortless.
Removing this friction from the silver stacking world is only the first step in their plan to revolutionize currency, the next step for the metal is online trading and transactions.
Stack your silver and use it too?
Merging the two worlds of distributed ledger technology and precious metals, LODE has also developed a proprietary wallet application, the LODEpay Wallet, which is further enhancing monetary metals transactability in the modern era. The app enables users to send, spend, and securely store digital silver and gold. Users can also obtain a virtual card that they can use to spend their AGX and AUX anywhere that already accepts debit and credit cards.
This effort is all meant to unlock the transaction potential of silver. With millions already stacking it for its inherent and future value, a lot of silver sits idle or passes through storage facilities who are all too eager to shave off value in fees. This means that silver has not been able to act like it once did as a medium of exchange, as a currency. But the shift to digital coins and the technological infrastructure needed to move them around represents a return to all the advantages and protections precious metals once offered as currency.
This development comes at an opportune time. As bullion dealers warn of impending silver supply shortages, increased interest in the metal has also resulted in the birth of a subreddit similar to WallStreetBets (WallStreetSilver). With a Reddit-triggered short-squeeze already attempted earlier this year and arbitrageurs moving in to close the paper/physical gap that has historically suppressed the price of silver, investors now have a chance to secure holdings in one of the world’s oldest investment vehicles before it is too late.
Securing silver has never been easier with AGX on major coin exchange
Developed and minted on the Syscoin blockchain platform, AGX and AUX Coins are now among the first metals-backed assets in the world to be listed on a reputable exchange, enabling users to easily trade digital silver and digital gold globally. The listing date, set for the second quarter of 2021, will see the AUX and AGX coins going live on Hotbit shortly after upgrades to the Syscoin platform are completed.
This is a crucial step, as access to a global scale coin market place like Hotbit means ever-wider reach for the game changing money, more silver users who can start stacking and, most importantly, a broader community. It also gives the coin greater flexibility and impact. From those looking to branch and dabble into silver, to the silver enthusiasts looking for the best option for stacking, to the companies seeking a stable but digital option for reaching online customers, all can benefit from a habit once limited to the very wealthy or doggedly determined: stacking silver.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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