Digixdao is one of the most straightforward projects in the entire blockchain space. Digixdao DGD represents an idea so simple that anyone can understand it, even those who might be a little fuzzy on what a blockchain even is.
Digixdao is a project that has created digital gold. Each Digixdao DGX coin is equal in value to one gram of real, physical gold. The gold can be exchanged for DGX coins, 1 DGX/1 gram, by mail or in person.
Digixdao gold is purchased through the finest accredited gold suppliers in London, and the reserved gold supply is audited by trusted third parties. You can even tour the storage facilities to see for yourself!
Unlike banks, which may have only 10% liquidity onhand, the Digixdao price is steady because there is 1 gram of gold in storage for every coin in the entire network. This will never change, and it’s Digixdao’s key to success.
There are many ways to buy Digixdao, but the easiest and fastest (especially for new crypto traders) is with BuyVirtualCurrency.co.uk. Here, you just have to make a simple bank transfer and the BVC brokers will take care of the rest.
That’s all there is to it. We’ll give you the more complex methods of how to invest in Digixdao (including a more detailed explanation of this method) in the buy Digixdao guide to come.
How to Buy Digixdao on Binance
If you want to buy Digixdao DGD on your own, perhaps because you wish to buy at a specific price potentially lower than the market order that would be completed by a third party broker, a Digixdao exchange like Binance is your best bet. Digixdao DGD is no longer traded at Bittrex, which formerly had the highest trading volume of Digixdao DGD in the world. As runner up, Binance is now the largest trading site of DGD.
Before you can buy DGD on Binance, you’ll have to have some Bitcoins. We recommend buying Bitcoin with Coinbase. Coinbase is trusted, serving millions of people who wish to trade basic currencies like the US Dollar for digital currencies like Bitcoin and Ethereum. Making an order with Coinbase is as easy as setting up a Facebook account. Link your bank account and make your order. Then go to Binance.
When your Bitcoins have arrived in your Coinbase digital wallet, they’ll be ready to trade. But first, you’ll need an account with Binance. Here’s how to do that.
Go to Binance.com and make an account. This will require you to input various kinds of personal information. Fortunately, Binance does not require you to put in as much detail (SSN, passport) as an exchange like Poloniex, at least for basic trading. Check your email for messages from Binance which will confirm and verify your account. If you don’t see them, check spam.
Once you’ve confirmed your new account, set up 2 factor authentication for your account. This is a way to greatly increase the security of this sensitive financial portal. The way it works is this: download the “Google Authenticator” app. This app gives you a 6-digit code, a new code every 30 seconds. When you log in to Binance henceforth, you’ll have to input your password and the 6 digit code. Someone who has your password but doesn’t have your phone to access the new secret code will not be able to get into your account.[/su_note]
How to Send Your Digixdao Coins to MyEtherWallet for Safekeeping
Digixdao DGD (Digixdao Coin) is an ERC20 token, meaning that it was released on the Ethereum blockchain. Like all ERC20 tokens, it is storable on MyEtherWallet, a free multipurpose digital wallet that lives online. Go to MyEtherWallet.com and create your first wallet.
When you’re creating your wallet, make sure to write down the secret/private keys and recovery phrase given by MEW. These are the only way you’ll ever recover your account if you lose your password or get locked out some other way. Make multiple copies and store in different spots.
Now, find your wallet address at the top right of your MyEtherWallet. It’s an alphanumeric code, the same code that you’ll send all ERC20 and Ethereum tokens in the future, providing this is where you wish to store them. Once you’ve coped it, head back over to your Binance Digixdao coin wallet.
Go to your Binance Digixdao Wallet. Click “withdraw”. Paste your copied MyEtherWallet address into the address line, specify how many Digixdao coins you wish to send (likely max), and then submit your withdrawal. You’ll be asked to confirm with an email sent by Binance. Do this and your withdrawal will be complete!
Check MyEtherWallet in a few minutes to an hour to make sure that your coins have arrived. When you see them, log out and know that with MEW your coins are much safer than they could ever be stored in an exchange like Binance.
Final Thoughts on Digixdao
Digixdao should be a big player in 2018 when/if their mainnet is released. At that point, DGX will be on the market and people will be able to buy digital gold through a finely audited process.
Not only will buying digital gold give you certain advantages over buying physical gold, it’ll also give crypto traders a new “safe haven” in the crypto financial markets. Currently, Tether is the only steady-value coin, linked directly to the price of the US Dollar. Digixdao’s process is even more transparent than Tether’s, so anyone storing value in Digixdao DGX will know that they won’t lose any money, and they’ll be ready to jump on trading opportunities at a moment’s notice rather than having to wait for fiat transfers to clear.
In the meantime, Digixdao coin DGD will give users a leg up on the future mainnet release and a stake in the transaction fees that will roll in when this network becomes widely adopted. We think Digixdao is a winner! Buy digixdao at this low Digixdao price today.