Blockchain adoption is all about transition. As much as some of us dream of financial revolution, it is highly unlikely that it will actually happen the violent old-fashioned way. Volatility and risk of hacks are not exactly helping with speeding up adoption either, as they turn the simple process of buying goods and services into risky business.
In the modern day reality, we have to use a smart approach. Take, for example, stablecoins. The fact that they are actually backed by real-world assets results in more positive general acceptance. At this point, people still prefer to hold onto something. So why not give them what they need for starters?
What is a better asset to back your digital currency than the good old gold? Let’s be honest, the idea of owning some precious metal but in its digital form sounds very appealing these days. And that’s exactly what Digix has banked on.
What is Digix?
The Digix ecosystem revolves around their two native tokens: DGX and DGD.
DGX token is the project’s main product that grants users easy access to gold. It is one of the first asset-backed tokens on the Ethereum blockchain. Owning the token confirms that you own real gold: 1 DGX equals 1 gram of the metal on the Ethereum blockchain. And if you happen to be in Singapore, you can claim your physical gold in exchange for the tokens that you own.
DGD, another Digix Gold token, serves a slightly different purpose. Anyone can use it as a tool to participate in the DigixDAO governance system by approving or rejecting all kinds of proposals. So you can also think of it as the main DigixDAO coin. From opening a DGX-friendly offline business, to introducing another asset into the ecosystem, the choice is yours. By introducing DGD, the company strives to develop an independent community that will eventually contribute to the entire ecosystem. And obviously, the ultimate goal that drives this community is the popularization of their main product.
Blockchain tech provides the transparency, security, and traceability for token transactions. Which is clearly a step up compared to the current imperfect supply chain of gold.
The project has received positive mentions from reputable members of the crypto space and has partnered with a variety of well-known blockchain projects.
How to buy DGX and DGD in Lumi Wallet
Once you buy your DGX crypto or DGD coin on the appropriate exchange – and luckily there’s no lack of those – you need to transfer the assets to safer storage. Lumi Wallet is just that!
It is an anonymous, secure, and really simple app for iOS and Android, and we also have a web version. Besides, we do not control your funds or private keys and you’re the only person who’s in charge of them.
- After you download Lumi, tap on the ‘Manage Wallets’ icon in the ‘Wallets’ section
- Start with typing in the project’s name and choose DGX, DGD, or both wallets from the list
- Hit the confirm button and get yourself some digital gold!
Our service allows you to exchange your DGD or get some of them if you already own some other coins like BTC, ETH, or others. Soon we will also add a fiat payment option. But for now, tap on the ‘Exchange’ icon at the bottom of the screen, fill in the transaction details, double-check them, and confirm.
And of course, you can receive, send, and hold your DGX token in Lumi Wallet. If you need to transfer DGX from an exchange, go to the DGX wallet and tap on the ‘Receive coins’ button. Then you will see you DGX address that you can copy and paste in the corresponding field on the exchange that you used to purchase it.
Apart from DGX and DGD, Lumi Wallet allows you to trade and hold other coins like BTC, ETH, BCH, EOS, and 900+ Ethereum tokens. And if you cannot find that very special ERC20 token that you invested into, please, let us know and we’ll do our best to list it!