BitAU is a fork of the original Bitcoin and a representative cryptocurrency based on an increasing amount of gold. Unlike earlier forks, BitAU was formed out of a desire to safeguard Bitcoin and guarantee that it not only maintains its dominance as the leading cryptocurrency, but also grows until its liberating roots reach deep into the economic life of all nations.
Introduction to BitAU
BitAU is the only digital asset with a continuously growing gold base. Together with blockchain technology, it guarantees the highest level of security backed by transaction transparency on a public ledger. Certified 999.9 investment gold is bought from Good Delivery refineries and because its retail prices are relatively high, PAMP Gold can charge its fee while still providing lower than retail prices of gold.
Making Gold Great Again
Gold has been utilized as a form of payment and value storage throughout human history as a precious metal with a monetary characteristic. Physical gold, on the other hand, has numerous obvious flaws, such as a high unit value, high storage, and transit costs, difficulties fragmenting and examining, and so on. As a result, gold's use as a payment medium and an investment vehicle in today's market is significantly diminished.
BitAU is dedicated to building a distributed ledger technology-based service architecture that eliminates the drawbacks of owning a real gold asset. They want to make gold available value storage and transaction medium for the general population by digitizing and encrypting the underlying actual gold.
To manifest and ensure a BAU holder's outright ownership of the gold in reserve, the BitAU system uses a bailment agreement. Even in the most severe circumstances, such as BARSF bankruptcy or the collapse of the BitAU system, BAU holders retain full ownership of the gold in reserve.
BitAU Coin (BAU)
The BitAU-Coin (BAU) is the star of the BitAU system. BAU are Stellar blockchain currencies that are backed by actual billions held in BitAU contracted vaults. By adding the BARSF (BitAu Reserve System Foundation) trust line on the Stellar network, a customer can own and hold BAU tokens. 1 BAU is not linked to any specific amount of gold in reserve; rather, the total number of BAU issued equals the entire amount of gold in reserve held in vaults.
Each BAU represents 0.001g of gold in reserve and is divided into 10-7 units, making them fully homogenous and fungible. The fungibility of BAU makes it ideal as a transaction medium. The total BAU issued equate to the amount of reserved gold kept in vaults. The Stellar blockchain technology that underpins BAU's transactions improves transaction security even further.
Evergrowing Gold Reserve
Every transaction increases the amount of gold available to BitAU holders. Every transaction decreases the number of new BAU coins while keeping the quantity of gold the same. When compared to the number of BAU coins minted, gold rises much faster. With the burning of BitAU in favor of the community, every transaction enhances the BAU/Gold ratio.
BitAU is mobile, borderless, and readily transferred. Because of its quick liquidation time, anyone may sell BitAU on an exchange in under 10 seconds. BitAU is a safe, scalable, long-term, and lucrative investment due to its expanding gold base.
The Gold Chip of Crypto
BitAU is known as the 'gold chip of crypto' because of its great dependability, consistent gains, and little risk. The greater the value of BitAU in gold, the more it gets minted and exchanged. With its use and coinage, BitAU's gold-based value continues to rise.
Fees, on the other hand, are always small, regardless of how much you send. Money is sent and received quickly, with no delays or restrictions. It may be used by anybody, anywhere.
The BitAU network is growing to meet rising demand and nowadays, it is the right innovation and security that is essential and needed to bring stability, trust, and reassurance back to the crypto-verse. You can expect the crypto market to increase in the future, especially if it is backed by gold!
Learn more about BitAU by visiting their Website, Facebook, Youtube, GitHub, or Telegram.