Digital Gold Currency - DGC

AAA

DEFINITION of 'Digital Gold Currency - DGC'

An electronic, private currency backed by gold bullion. Companies that provide digital gold currency make it possible for people to own gold and to pay each other online in gold. Digital gold provides the same protection against inflation as gold bars or certificates, but is more secure and convenient to store.

INVESTOPEDIA EXPLAINS 'Digital Gold Currency - DGC'

Another advantage is that digital gold can be purchased in any amount, whereas bars or coins only come in predetermined amounts. Digital gold is not a viable way to pay most businesses for products and services, however.


In a digital gold currency account, account balances and transactions are denominated by weight. GoldMoney, established in 2001, is one company that offers digital gold currency.

RELATED TERMS
  1. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  2. Currency Internationalization

    The widespread use of a currency outside the original country ...
  3. Currency

    A generally accepted form of money, including coins and paper ...
  4. Monetary Policy

    The actions of a central bank, currency board or other regulatory ...
  5. Reserve Currency

    A foreign currency held by central banks and other major financial ...
  6. Lawful Money

    Any form of currency issued by the United States Treasury and ...
Related Articles
  1. What Is Wrong With Gold?
    Economics

    What Is Wrong With Gold?

  2. A Holistic Approach To Trading Gold
    Investing

    A Holistic Approach To Trading Gold

  3. The Gold Standard Revisited
    Budgeting

    The Gold Standard Revisited

  4. The History Of Money: Currency Wars
    Forex Education

    The History Of Money: Currency Wars

Hot Definitions
  1. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  2. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  3. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  4. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  5. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  6. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
Trading Center