While investing in cryptocurrencies offers the potential to reap huge profits with the right timing, their exaggerated prices can also be a major cause of frustration among cryptic investors. Fortunately, a new generation of encrypted ones that have a more stable price than their peers are now entering the market, such as the recently launched metal token, Tiberius Coin.
Launch of the Tiberius coin
Tiberius Group AG, a commodity dealer and asset management company based in Switzerland, has now offered an option for cryptocurrency enthusiasts who may prefer a more stable investment. The company has just launched its Tiberius currency on October 1, which differs from most of the criptos as it will be backed by metals, according to Bloomberg.
Tiberio's coin is supported by seven different metals in a precisely measured mix. According to the company, the basket of raw materials to support the token is composed of 24.959% of copper, 15.838% of tin, 8.713% of aluminum, 13.269% of nickel, and 11.057% of cobalt, 19.595% of gold and 6.569% of platinum. To put it in terms of weight ratio, the composition is 25 grams of copper, 5 g of tin, 25 g of aluminum, 6 g of nickel, 1 g of cobalt, 0.003 g of gold and 0.0015 g of platinum.
The metal mix was chosen to offer investors a very stable cryptocurrency, according to the CEO Giuseppe Rapallo, who told Bloomberg:
"Instead of undergoing the digital currency with just one commodity, we have chosen a mix of technological metals, stability metals and metals for electric vehicles, which will allow the diversification of currencies, making it more stable and attractive for investors".
Sold with Swiss law
Tiberio's currency is sold under Swiss law and costs about $ 0.70. This makes it a regulated token, as opposed to other digital currencies that have debuted through initial offers of unregulated currencies.
The company has decided to list the currency on LATOKEN, a digital currency exchange based in Estonia. According to Tiberius Group AG, the decision to list the token at the Estonian plant was due to the fact that "meets the regulatory standards required."
Do you need another Stablecoin?
Many are already eyeing the new token to say how it will go on the market. While stablecoins like Tether have gained popularity as an alternative to highly volatile tokens, other less known pawns have not really gained much traction since their launch.
Adrian Ash, director of research for BullionVault Ltd. based in London, explained:
"There are dozens of companies that have launched metal-related stablecoin, and so far none of them has gained any traction … They are trying to solve a problem that does not exist – all this can be achieved without the added cost of a distributed ledger . "