Cryptocurrency has been a buzzword for quite some time now and has attracted much attention across the world. The most interesting part of cryptocurrency is that it is not issued by any central authority, government, or banks and hence it is not subject to government intervention like legal tender.
The year 2021 has seen a sharp increase in the price of cryptocurrency with bitcoin crossing the $50,000 mark, simply making it the world’s most valuable cryptocurrency worth half a million. Despite such a huge increase, the use of bitcoin in global payment still doesn’t seem to be happening.
Though we saw how Tesla started accepting bitcoin as a payment option, it was later revoked by Elon Musk on the grounds of environmental concerns.
The cryptocurrency market, since its inception, has been extremely volatile. The nature of cryptocurrency and its volatility have been long discussed by economists, policymakers, and investors. There has been a visible increase in the influx of traders in the cryptocurrency market with the vision to make huge profits in a short term. However, everyday users are still lagging behind.
One of the main obstacles to widespread adoption for a number of reasons is the unsteadiness of cryptocurrencies. All currencies must be stable to be used as a reliable medium of exchange. As prices rise and fall, the general public will stop using the coin for day-to-day trading, hoping that the coin will skyrocket or stay stagnant. However, people are still not used to seeing real money in cryptocurrencies.
The desire for stability is obvious. In general, trust and reputation mean that people need to know the value of their property. While cryptocurrencies are still relatively small currencies (for example, when the US dollar is used as a measure of stability), this volatility is a major issue affecting a currency’s reputation and capacity.
The quest for stability has given birth to a new asset class called a payment token. A “stable coin” is a cryptocurrency pegged to another fiat currency, such as the US dollar, Euro, or any other currency. While being a global currency, it is not tied to a central bank and has extremely low or negligible volatility. This type of cryptocurrency can be used practically, for daily payments.
The rise of payment tokens has introduced a new asset class where some payment tokens are pegged with Fiat and some are supported by precious metals such as gold, etc.
Gold Supported Cryptocurrency: The rise of USDR
Gold has been considered as one of the most valuable assets, not just today but for the last 5000 years. The price of gold is increasing multifold every 10 years. Considering the popularity and acceptance of gold as a store of value, businesses are now digitizing the value proposition of gold, one of the oldest and most stable currencies in the world. The result is a liquid crypto asset supported by the benefits of physical gold.
With the growing demand for gold-supported crypto assets, the cryptocurrency world is witnessing the launch of many gold-supported payment tokens, one such payment token which has taken an edge over its competitors is USDR.
The US Reserve Dollar (USDR) is a gold-pegged cryptocurrency that can maintain a one-to-one relationship with the dollar.
USD reserve or USDR acts as a cryptographic digital payment token. Tokens are issued on the Ethereum blockchain and
Binance smart chain (BSC). The main goal of USDR is to expand its presence in the world in accordance with Swiss law, as well as gain recognition as a necessary payment mode for all investors.
USDR More than just a Cryptocurrency
USDR Supply tracker
USDR has been reformed to be 100% transparent and open. The volume of the token will only expand after the mined gold has been processed. This means that all newly minted coins are completely supported with gold.
USDR Supply Management is an important cross-network solution. When users want to exchange, they can buy and sell coins that are already in circulation. Each network consists of addresses where inactive coins are stored as a backup for users. There are also so-called system addresses for exchanging multiple networks.
USDR decentralized wallet
USDR Wallet is a secure decentralized wallet for storing crypto assets. The wallet is available in a browser version that allows you to safely buy, store, transfer, and exchange tokens. The wallet is designed to ensure the privacy and security of users. The wallet has strict security measures that include key security, secure login, and just about everything you need to effectively manage your digital assets. You can download the USDR wallet extension here: https://usdreserve.org/extension
The internet’s quest for a reserve currency has come to an end, USDR is a new gold-supported reserve currency transforming the global cryptocurrency market. For more details on how USDR is moving towards its mission to become the internet’s reserve currency, visit their website: https://usdreserve.org/, To stay updated with all the latest news and announcements around USDReserve, follow on Twitter: https://twitter.com/USDReserve.