While Bitcoin is called “digital gold,” now you can own the literal version. Comtech Gold allows users to use the historic hedge against inflation without the downsides.
. CGO solves the prevailing problems in gold trading by rolling out a 100% gold-backed cryptocurrency.
Holders of CGO tokens own gold physically in the same proportion. Though each holder is entitled to a certain amount of gold, it might not be the specific bars they had submitted. The arrangement works quite like a bank where the bank As the network of Comtech Gold increases, one will be able to buy the tokens and redeem them at the time of their choice in smaller denominations at recognized retailers’ shops.Fully based on Shariah principles, Comtech Gold lays down an ecosystem where physical gold associated with each gold-backed token is identifiable and segregated. As Shariah compliance requires, each transaction will culminate in the actual delivery of tokens from the seller to the buyer.
On Comtech Gold, users can deposit their personal physical gold in a standardized 1 kilogram bar and get tokens against it. Any investor holding coins equivalent to 1 kg or more of gold can cancel their tokens in exchange for equivalent gold in multiples of 1000 tokens . The steps are listed below:
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