UPXAU is the only form of gold that is free to hold, government backed, spendable on a debit card and purpose-built to be accessible and affordable for virtually anyone, anywhere. Each Token represents 1 troy oz (31.10348 grams) of pure physical gold held at the Perth Mint in Western Australia.


Market Demand:

For the Gold, previous month was an all-time high with price crossing the magical $2,000 level. The trend continues to be positive for gold. The geopolitical tensions, and IMF (The International Monetary Fund) cutting global economic forecasts, will keep the prices in an uptrend. Many gold bulls have a target of between $2,100 and $2,300 for gold over the next few months.

The expectations of a bull run in gold extend beyond the near term. Over next 18-24 months gold prices might touch even $8000. The underlying fundamentals have a lot to do with expanding central bank balance sheets, lower or negative interest rates in some cases, and lack of alternative asset space for returns. All this is helping push money into gold.

Since the inception of cryptocurrencies, there have been numerous attempts to produce a superior, digitized gold solution. But until now, no product has managed to combine all of the following properties in one offering:

  • Zero storage and management fees
  • Redeemable for physical gold
  • Instant settlement
  • State-backed guarantee on underlying assets
  • No transfer fees

Leveraging transparent-value substantiation technology, the Universal Protocol Alliance has built a gold Token that opens up the largely opaque and OTC-dominated 20 trillion-dollar gold market to a far broader constituency. For the first time, virtually anyone, anywhere can easily invest in gold and spend their holdings  as easily as cash.


The Team

Co-Founder and Chairman is Dan Schatt. He is also member in other crypto project like Cred and Uphold. Behind this token is The Universal Protocol Alliance, group of like-minded blockchain companies with the goal of bringing +100 Million new users into cryptocurrency. Founding members are: Bittrex International, Uphold, Cred, Brave, Bitgo, Blockchain at Berekley, CertiK.

The UP Alliance has already successfully issued the Universal Dollar (UPUSD), Universal Bitcoin (UPBTC) and Universal Euro (UPEUR). All are wrapped tokens on the Ethereum Network and feature transparent value substantiation with a public record of the underlying collateral.

The Perth Mint: the trading name of the Gold Corporation, an entity wholly owned and guaranteed by the Government of Western Australia, with a long -term credit rating of AA+(S&P). It is the largest refiner of newly-minted gold in the world.

Price Analysis for Universal Gold (UPXAU)

It has max supply of 3,812.56218 UPXAU.

1 UPXAU token = 1 GoldPass certificate = 1 ounce of physical gold from The Perth Mint.

As the price for UPXAU is fixated with the price of the Gold, we can look what is happening in the gold chart. Based on the 30-Day Gold Chart we can see that the resistance is at the all-time high $2069. If gold can breakout this level we can discuss $10.000 in the next two years.

Universal Gold is available to buy and sell through Uphold and Bittrex.

Also during August, UP Alliance Member Cred began allowing users to stake UPXAU on CredEarn, so that they can earn interest on Universal Gold.


Upcoming Events

  • Gold is continuing its reign among not just precious metals, but alternative assets in terms of popularity. It seems that everyone wants a piece of gold as global uncertainty surrounding the pandemic should continue to keep prices afloat.
  • Soon, users will be able to redeem UPXAU for physical bars of gold when staking the Universal Protocol Token (UPT), a utility token issued by the UP Alliance and available on Bittrex Global and Uphold.

‌Should I buy Universal Gold (UPXAU)?

Instead of being limited in terms of what to do with the token, it can be spent like cash or other assets. Holders of the Uphold debit card can spend their UPXAU balance at any retailer accepting debit card payments, both online and in-store.

Users can verify the backing of every UPXAU token on a public blockchain. This process is made possible with the help of CertiK, a blockchain security firm. Offering this transparent verification makes UPXAU different from most other gold tokens.

This marks the first significant gold crypto token that has been backed by any government globally.

Investing is a personal choice and investors should consult with experts when making financial decisions. It's important to note cryptocurrencies are highly volatile, unregulated and have the potential to go to zero. If this doesn't discourage you and would like to know if Universal Gold made it to our shortlist, check out our weekly Altcoin Reports. ‌


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Disclaimer:

The information in this review has been independently sourced and even though we have made the best attempts to report accurately, we do not provide assurances on any of this information. This analysis is provided "as is" and it is up to the reader to do their own due diligence and research. Altcoin Investor is not associated or affiliated with any firm and the opinions are strictly that of the author. This information should not be relied nor is it to be treated as financial advice.