Edelcoin is a stablecoin based on the Ethereum blockchain. Its collateral is made of metals such as copper, Ceslum-133, and two types of nickel wires. Different companies hold the collateral on behalf of the coin issuer.
Edelcoin is a utility currency that you can use for online transactions across the internet. You can also hold the coin as a store of value, as it is very stable. Owners of the coin can also co-own the metals that back the currency.
A Bit About Edelcoin
Edelcoin (EDLC) was formed by EdelcoinAG, a Swiss technology company. It worked with separate firms for the issuing of the metals to back the coin. Therefore, the ecosystem includes both the issuer of the coin and the metals backing it.
EDLC stands for stability and ease of exchange. It hopes to deal with the volatility that comes with most other cryptocurrencies. The general population can use the cryptocurrency for their daily activities.
This way, they will not be at the receiving end of value fluctuations. You can use the coins to complete crypto transactions and store your fiat money wealth.
The metals-backed stablecoin is here!CryptoLists.com
Edelcoin is an Ethereum ecosystem-based stablecoin. It uses this blockchain to secure the transactions and enable decentralization. Ethereum boasts being one of the most secure cryptocurrencies on the market. It uses several protocols for security and decentralization.
For every stablecoin on the market, there is an equivalent value in the metals that back it. The unique thing about the coin is that users have the chance to co-own the collateral behind it. Besides, the coin is overcollateralized by a factor of 25%. It means that small dips in the values of the metals do not affect the value of the coin.
Besides, the collateral offered for the coin is not invested. Therefore, there is no risk that coin owners may lose their cash in a deal gone bad.
Finally, the funds collected in the tokenization will be used for coin-related and charitable initiatives. The coin holders will not suffer any loss or profit from any activities related to the coin.
Utility of Edelcoin?
Edelcoin can be used for completing transactions across the internet. It has a reasonably low transaction cost, which makes it ideal for daily transactions among coin holders and merchants. You can also hold the coin as a store of value.
Since the coin is backed by metals that have low price volatility, owners are sure that their investments will be secure. Also, the overcollateralizing by 25% takes care of any slight value changes in the underlying metals.
Since there is little change in value, the coin is not ideal for profit-making investments. Its lack of volatility also means that it does not appreciate as fast. Besides, since it is based on the Ethereum ecosystem, it can be used in dAPPs and in the creation of smart contracts.
Edelcoin Price detailsETH Contract address: 0xc47ef9b19c3e29317a50f5fbe594eba361dada4a
›› Details & Tokenomics
Advantages of Edelcoin+ The currency is backed by metals that are physically available
+ EdelcoinAG does not engage in profit-making investments with user money
+ EDLC is secured by the reputable Ethereum blockchain
+ This project is regulated by a reputable Swiss financial watchdog
+ EDLC owners have a chance to co-own the backing metals
Disadvantages- Edelcoin is relatively new and has a small community
- There are still a few online platforms that accept the coin
- The coin has not been time-tested for resilience
- EDLC lacks reputable brands that support the investment
Costs▪ Rated at 9/10
The cost of transacting with EDLC is about 0.05% to 0.1% of the value of the transaction. These gas fees are significantly lower than what it would cost to transact with the base Ethereum blockchain.
However, expect the fees to increase if there is congestion on the network. So far, the network has not experienced congestion that has led to a dramatic increase in fees.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9.5/10
Since the launch of the cryptocurrency, there have been positive reactions across different communities. The positive hype is based on the fact that the company backing the coin has passed the stringent Swiss legal requirements and that it is backed by physical collateral.
While the company community is relatively new, the number of users and those interested in it has been growing rapidly. In addition, the coin has been accepted on some of the leading cryptocurrency exchanges, which also enhances its credibility.
You can now find information about this platform and many more across the internet.
Is EDLC available for purchase?
Edelcoin is available for purchase on most of the leading cryptocurrency exchanges. To buy the coin, you need to create an account with the exchange and have a compatible wallet to hold the coins. Most exchanges allow you to deposit fiat cash with the most popular payment methods, such as cards and e-wallets, to buy the coins.
Is EDLC secure?
EDLC is a secure coin. It uses the Ethereum blockchain for decentralization and security. Ethereum uses zero-knowledge proof to verify transactions. Here, the stakeholders prove the validity of a transaction without revealing its contents. This way, the content of the transaction, such as the amount, and the details of the transaction are hidden from other parties.
Who regulates EdelcoinAG?
EdelcoinAG is registered in Switzerland. Therefore, it is regulated by the financial laws of the country. Switzerland is a reputable jurisdiction on matters relating to finances and has stringent qualifications for such companies. Therefore, holders of the coin can rest easy knowing that their investments are well protected.
History of Edelcoin
July 2022: EdelcoinAG is incorporated and the leadership team is constituted. The team creates a business case and a project plan for the business. This team would be tasked with developing the stablecoin and ensuring its growth.
September 2022: The team defines and clears the technical, legal, regulatory, and compliance aspects of the business. Here, it also defines what metals it will be using to back the stablecoin.
February 2023: The design and finalization of the tokenization ecosystem. It works with the Swiss financial watchdog to ensure that the tokenization is compliant with the local laws.
August 2023: Launch of tokenization and the start of token trading to the public. The company starts to work with various exchanges to realize the dream.