DIAMOND-BACKED CRYPTOCURRENCY

Digital coinage has been an up and coming means of currency for a number of years now but most recently within the last two years, two companies have launched their own cryptocurrency backed by one of the world’s most steadfast commodities, diamonds.

Both PinkCoin and SparkleCOIN have developed cryptocurrency platforms backed solely by diamonds, more specifically colored diamonds which have proven to increase their worth each year since 1959.

Pink diamonds especially have increased their worth by a minimum of 10% each year after year since tracking began. Over the decades, pink diamonds have increased their worth by and overall 315%, blue diamonds have seen a 154% increase, and yellow diamonds experienced a 50% increase within the same time frame. When taking these figures into consideration, it is no wonder the two companies have chosen the precious gems as the asset to back their digital currency.

Every diamond is independently appraised, certified, and then insured by Lloyds of London and then in trusted by BitGem Asset Management.

The diamond-backed coins are redeemable for Bitcoins or individual diamonds themselves but currency holders are also able to trade for other assets available through BitGem Decentralized Marketplace.

Initial sales opened with tokens selling for $1 each through PinkCoin and now most recently $5 per token through SparkleCOIN as of Spetember 2017.

Did you enjoy this read? Try To Invest In Gold Or Invest In Bitcoin: That Is The Question

Since 1979, Bellevue Rare Coins has been a trusted, family-owned business serving the Greater Seattle Area with locations in Bellevue, Lynnwood, Issaquah, and West Seattle. Specializing in gold, silver, diamond, and jewelry purchasing, in addition to dealing in rare coins. We now offer a vast selection of fine, vintage and custom designed jewelry. Visit anyone of our four friendly locations for the best deals selling or buying.  

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This article was provided to KING 5 by Bellevue Rare Coins.

© 2017 KING-TV


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