Within a few days, more than 35 million Gulden have already been committed.
Since Friday July 20th, it has been possible for Gulden owners to secure their digital coins on a savings deposit. In this way, they can receive up to 300% more interest than at their regular bank. Within a few days, more than 35 million Gulden with a value of more than 2 million Euro have been committed. Gulden is thus the first cryptocurrency in the world that enables owners to securely achieve a reward and/or interest income expected to be between 3% and 10%.
Manage it yourself
Times are changing. People can choose their own health insurance company, choose their own energy supplier and now also manage their own money.
By creating a so-called witness account in the desktop application of Gulden, an amount can be secured for a certain period of time. The more one puts into deposit and the longer, the higher the reward one receives. Unlike the deposit itself, the rewards can be withdrawn at any time and transferred directly to an IBAN number.
Rewards are possible because, since last Friday, the mining-rewards of Gulden has been divided between the miners and the new witness accounts.
Each witness account automatically helps to make the Gulden network safer by checking the blocks offered by the miners.
Gulden therefore does not speak of an interest compensation but rather of a reward for helping to check the blocks.
It should be noted that the rewards are not guaranteed. The more deposits are made, the lower the returns. After all, only a maximum of blocks are mined per day. This may lead to near or even zero disbursement at smaller amounts and shorter maturities.
Below are two examples based on the current situation. We will see lower revenues with more witnessacounts! Please note that the returns shown are calculated over a year. So if it says that the proceeds are 3.3% for securing 10000 Gulden for 1 month, this means that in that one month you can only receive 0.275% interest (3.3% divided by 12). It really pays to select longer periods.
|Deposit 10.000 Gulden:||Deposit 100.000 Gulden:|
|1 month 3,3%||1 month 5,2%|
|2 months 3,5%||2 months 5,6%|
|6 months 4,5%||6 months 6,9%|
|1 year 5,7%||1 year 8,4%|
|2 years 9,0%||2 years 11,9%|
|3 years 11,9%||3 years 14,5%|
In order to be able to assist in witnessing and thus receive rewards, the Gulden application must be continuously online. Unlike mining however, the desktop wallet requires virtually no computing power and can therefore be run on an energy-efficient mini-computer such as a Raspberry Pi.
This witnessing and the renewed blockchain have given Gulden an unprecedented high level of security. As a result, Gulden is many times safer than, for example, using a credit card.
Also for entrepreneurs
More and more businesses are accepting Gulden as a means of payment. There are currently about 160 companies and shops in the Netherlands that accept Gulden as a means of payment. This varies from taxi and car rental companies, catering outlets, webshops, florists, dentists, bicycle shops to paint shops, campsites (Norway), fashion shops and electrical suppliers.
Just recently, a large number of Groningen entrepreneurs started accepting Gulden Payments.
At 5 euro cents per transaction, Gulden is much cheaper for entrepreneurs to accept than regular debit card payments, while they do get paid in euros. Moreover, entrepreneurs do not need an expensive debit card terminal to accept Gulden and a payment only takes a few seconds.
Gulden was introduced in April 2014 as a payment system in addition to the Euro and Dollar. By now it has grown into an excellent alternative to the well-known Bitcoin and it has already overtaken it on several important points such as speed, cost and safety. Thanks to the user-friendly and free apps, Gulden now has more than 150,000 users and is becoming increasingly popular as a means of payment due to its low costs.