Basically, enthusiasts associate cryptocurrencies with speculation. Therefore, this alienates the Muslim world. However, there are efforts to onboard this section of the population. In this light, Onegramcoin Lists on Trade Satoshi to reach a wider market of Muslims.
According to the Onegramcoin (OGC) white paper, users can redeem the coin for physical gold from GoldGuard at any time. This is commensurate to the fact that one OGC is equal to one gram of Gold. Users can choose to redeem the OGC for gold or fiat currency.
OneGramCoin lists on Trade Satoshi to join other altcoins
“GoldGuard is licensed (license Number: 3287) with Dubai Airport Free Zone (DAFZ) to trade jewelry, namely gold. DAFZ is one of the fastest growing Free Zones in the Middle East. It was established in 1996 within the boundaries of Dubai International Airport,” the white paper details.
However, the most interesting fact about OGC is that it is sharia compliant. This is to say that it complies with all the rules as laid out by the Holy Quran. In essence, Islamic law prohibits speculation. Therefore, any investment vehicle that carries speculative connotations is not welcome in the Muslim world.
As OneGramCoin lists on Trade Satoshi it joins other altcoins on an exchange that lists them exclusively. This is to say that Trade Satoshi does not list Bitcoin.
Particularly, the exchange aims to render the highest level of security for the altcoins and the traders. Further, the platform boasts of an excellent customer service tradition coupled with transparency. Founded in 2015, the exchange has a 24-hour trading volume equivalent to $500,000.
Interestingly, OneGramCoin is a product of an excellent team with various awards under their belt. During this month’s awards for excellence for Islamic-focused fintechs, OneGram received another award. The World Islamic Fintech Awards (WIFA) recognises creativity and compliance to sharia for fintechs.
In addition to owning a cryptocurrency, the OneGram team also operates a virtual currency exchange. Specifically, the exchange lists cryptos it deems sharia compliant.
According to a September Reuters report, OneGram insists that all the tokens it lists are sharia compliant.
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