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Home Press Release

SilverCoin Review: More Stable Than Cryptocurrencies?

Guest User by Guest User
October 17, 2020
in Press Release
3 min read
SilverCoin Review: More Stable Than Cryptocurrencies? 3
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Many focus on gold when thinking about precious metals. 

Gold is highly desired for its beauty, as well as its use in jewelry and industry, leading many to the metal due to its high spot price.

However, in recent years, there has been a surge to silver as investors with deep pockets understand the metal’s unique attributes. 

Silver is more volatile than gold, which gives investors a better return on investment (or greater losses) once the metal starts to rise in price. Some even argue silver is a better investment than gold due to its robust use in a variety of essential manufacturing processes.

Silver is most commonly bought in bars, coins, and rounds. Stacking silver bullion can get to be a burden if an investor has too much physical bullion at their home. This poses an immense safety and security risk, and the heavy weight of some bars might make organizing a collection to be tricky. 

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Cryptocurrencies backed by silver, like Silver Coin, have a reserve asset of physical silver bullion. They allow investors to purchase digital currencies and buy, sell, and trade in the crypto market while maintaining the ability to redeem for physical silver at any time.

But is a precious metal-backed stablecoin like SilverCoin more stable than cryptocurrencies? 

Is the coin a viable option for someone interested in silver investment? Keep reading to understand why. 

Silver-Backed Stablecoins Are More Stable Than Crypto

SilverCoin is more stable than traditional cryptocurrencies like Bitcoin and Ethereum that have no reserve asset. These types of coins can theoretically dip to become worthless in the wrong market condition. 

Cryptos backed by silver only fall to the spot price of silver – never below. 

If the coin proves to be popular, it might even eclipse the spot price of silver bullion. The built-in price floor on silver-backed stablecoins makes their prices highly static, opening up the stablecoin for everyday use as a medium of exchange due to little volatility.

An Overview Of SilverCoin

One ounce of fine pure silver bullion is worth 100 SilverCoins. The cryptocurrency is built to the ERC-20 standard on the Ethereum blockchain. 

This architecture makes the crypto a private asset. All a user has to do is provide their Ethereum address to receive coins. They do not have to share any other identification. 

Since the coin is based on Ethereum, holders can take advantage of a range of popular ERC-20 equipped wallets, like MetaMask, MyEtherWallet, Ledger, and Trezor to hold coins. Users can also view the smart contract address for SilverCoin on Etherscan. 

Ethereum is a popular and trusted infrastructure for crypto projects, which lends a great deal of credibility to the coin.

Bullion reserves backing each coin are stored in a secure vault that is audited by a reputable outside party. Audit results are clearly published on the project’s website for interested investors to review. 

The team goes one step further to engender trust in coin holders. SilverCoin owners can log on to a livestream anytime to view the bullion backing each coin. This extra step provides peace of mind because holders do not have to wait for an audit.

SilverCoin’s redemption process is seamless. The team carries out identity verification to ensure that an account holder is the only one permitted to redeem physical bullion. 

Once a purchase order is verified, the team provides information for a secure bullion facility for a holder to safely pick up their physical silver. Every step of the redemption process, and what to expect are clearly listed on the project website. 

A SilverCoin Review

SilverCoin’s bullion backing makes it more stable than traditional cryptocurrencies. 

The project’s transparency, clear-cut audit process, and simple steps for redemption make the silver-backed crypto a great buy for investors looking to add precious metals to their portfolio.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Guest User

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