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Cryptocurrencies can be highly volatile investments.
Since it appeared on the scene in 2009, Bitcoin (CRYPTO: BTC) has been one of the most valuable cryptocurrencies in the world but still swings anywhere from 20% to 30% — sometimes on a day-to-day basis. However, in the past six months, its value has dropped more than 50%.
Unlike Bitcoin, which is value-driven by demand and technology, cryptocurrency backed by gold has its value determined by the price or value of underlying assets to support it. And it's much less volatile. What is available to investors is a more stable gold standard versus cryptocurrencies like Bitcoin, which is predominantly owned by companies such as Tesla Inc. (NASDAQ: TSLA), MicroStrategy Inc. (NASDAQ: MSTR), Voyager Digital Ltd. (OTCMKTS: VYGVF) and Block Inc.’s (NYSE: SQ) Square (NYSE:SQ).
Gold-backed cryptocurrencies’ value is attached to the price of gold, a metal that does not have drastic fluctuations. The goal is to tie the derivative asset to the tangible support of gold and avoid excessive price fluctuations.
One of the emerging companies in the gold-backed crypto space is Asia Broadband Inc. (OTC: AABB), a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The company recently released its AABB Gold (AABBG) freshly minted mine-to-token gold-backed cryptocurrency and launched its proprietary digital exchange, AABB Exchange.
Asia Broadband has the aggressive goal of making its AABBG token become a worldwide standard of exchange that has the characteristics of stability, security and trust because of its gold backing and demand-based price appreciation. The goal is to provide crypto with the possible promise of currency stability.
To make the gold-backed AABBG available to buyers and investors, Asia Broadband has developed its proprietary AABB Wallet. With the wallet, AABBG users can place buy and sell orders to execute cryptocurrency trades for the initial trading pairs available and familiarize themselves with the exchange platform.
The rolling debut of the Asia Broadband exchange components will reportedly feature more than 200 cryptocurrency trading pairs available on the BC Gateway platform. The company says that the evolution of the exchange has led to tremendous growth in 2022, with many new features and capabilities added to expand functionality, usability, module additions and market penetration. Those capabilities include Spanish language versions and a new exchange website.
For more information on Asia Broadband Inc. and its gold-based crypto-token, visit www.aabbgoldtoken.com.
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
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