Review on Melecoin by Pedro O. Alvino M.
GOLD-backed token
Today's most popular cryptocurrencies in the market maintain a price in constant volatility according to the supply and demand of the buyers and sellers of the market, but some may be immune to said movement according to the financial support that the cryptoactive has, as well as the MELECOIN token that is backed by a precious metal, in this case gold.
The MELECOIN platform consists of a variety of financial services in a decentralized and open way for any user, which through the MELECOIN token will serve as a means of payment or through a debit card provided by the MELECOIN platform that is currently under development. , in addition to adding to the users the advantage of exchanges MELECOIN tokens to gold bars and vice versa, all this thanks to the LBMA refinery that provides the gold supply to the project, in which the team meets companies and gold refineries to sustain the supply of gold for the MELECOIN ecosystem.
Regarding the future of the platform, it may be relevant given the few currencies that are backed by a financial reserve or precious metal under a decentralized model, so it can be expected that many investors may be interested in the project and in the MELECOIN token.
Pros
- It has a wide variety of financial and payment services
- It is one of the first digital currencies based on cooperatives
- Allows MELECOIN token holders to exchange their tokens at any time for their value assigned to the MELECOIN Gold coin
- It is one of the few tokens backed by a precious metal
- It has several social media channels and contact numbers for technical support.
- Associated with the LBMA company, responsible for the supply of gold to the platform
Cons
- Much of its services are under development.
- For the conversion of the MELECOIN token, KYC and AML documentation procedures will be required.
- Relatively new project
