LEWES, Del.--(BUSINESS WIRE)--With all of the chaos surrounding global currencies (digital and paper), where is the stability? That is the question a new company sets out to answer. With cryptocurrencies in a constant state of flux, some people are questioning if they are just another internet fad. But would governments even pay attention to just a fad? No, and that is why governments are scrambling to protect their precious fiat currencies through manipulation and inflation. So where does one easily and safely protect their wealth in a physical asset? Silvertoken (www.silvertoken.com) steps in to provide stability and security by creating digital silver.
When you purchase silver from Silvertoken, you get a digital receipt in the form of a cryptocurrency linked to the ethereum blockchain. The physical silver is stored in high-security vaults, and a Silvertoken can be redeemed for this physical silver or sold for government-issued money.
Silvertoken’s business model allows for continued growth through a small transaction fee whenever a Silvertoken is exchanged. These fees are used to purchase more silver to back existing Silvertokens and vault storage. The more silver that backs each Silvertoken, the more valuable each Silvertoken becomes.
Additionally, Silvertokens stabilize their value through the balance of silver to tokens. Meaning, a Silvertoken is never worth less than 1 ounce of silver. This prevents the type of central bank devaluing associated with government-issued currency. Ultimately, Silvertoken offers a safe and secure alternative to user-backed currency (like bitcoin), and looks poised to stabilize existing forms of money.
About Silvertoken.com: Silvertoken.com offers physical silver, and when purchased, users receive a redeemable receipt for the silver in the form of a digital token. Silvertoken began offering silver in November 2017 at an introductory discounted rate. Silvertokens will become redeemable for silver in January 2018. Next year, Silvertoken will offer more silver, and will implement various technology improvements.