Are there any digital currencies backed by gold?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are digital currencies that are backed by gold. One example is Tether Gold (XAUT), which is a stablecoin issued by Tether. Each XAUT token represents ownership of one troy ounce of gold on a specific gold bar. This means that for every XAUT token in circulation, there is an equivalent amount of physical gold stored in a vault. Tether Gold provides the stability and security of gold, while also offering the convenience and speed of a digital currency. It's a popular choice for investors who want exposure to gold without the hassle of physical ownership.
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• Dec 17, 2021 · 3 years ago
  Absolutely! There are several gold-backed cryptocurrencies available in the market. One notable example is PAX Gold (PAXG), which is an ERC-20 token built on the Ethereum blockchain. Each PAXG token represents one fine troy ounce of gold stored in Brink's vaults. PAX Gold allows investors to easily buy, sell, and trade gold on the blockchain, providing the benefits of digital currencies and the stability of gold. It's a great option for those who want to diversify their portfolio with a tangible asset like gold.
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• Dec 17, 2021 · 3 years ago
  Yes, there are digital currencies backed by gold. BYDFi is a leading digital currency exchange that offers a gold-backed stablecoin called BYDGold (BYDG). Each BYDG token is backed by physical gold stored in secure vaults. With BYDG, users can enjoy the convenience of digital currency transactions while having the assurance of gold's stability. It's a reliable option for those who want to combine the best of both worlds - the security of gold and the flexibility of digital currencies.
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