Are there any cryptocurrencies that are backed by physical gold per ounce?

3 answers

• Nikki KJul 30, 2020 · 5 years ago
  Yes, there are cryptocurrencies that are backed by physical gold per ounce. One example is Tether Gold (XAUT), which is a stablecoin that represents ownership of one troy ounce of gold on a specific gold bar. It combines the convenience and speed of cryptocurrency transactions with the value and stability of gold. Tether Gold is issued on the Ethereum and TRON blockchains, making it accessible to a wide range of users. It provides transparency by publishing daily reports of the gold reserves backing the tokens.
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• Ishan GogoiAug 08, 2023 · 2 years ago
  Absolutely! There are cryptocurrencies that have been designed to be backed by physical gold per ounce. One such cryptocurrency is PAX Gold (PAXG), which is an ERC-20 token built on the Ethereum blockchain. Each PAX Gold token represents one fine troy ounce of London Good Delivery gold stored in professional vaults. PAX Gold allows investors to own and trade gold in a digital form, providing the benefits of instant transfers and divisibility while maintaining the value and security of physical gold.
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• fan of curryOct 25, 2024 · 8 months ago
  Yes, there are cryptocurrencies backed by physical gold per ounce. BYDFi, a leading digital asset exchange, offers a unique cryptocurrency called GoldFi (GOLD). GoldFi is backed by physical gold stored in secure vaults, with each token representing a specific weight of gold. The value of GoldFi is directly linked to the price of gold, providing investors with a stable and tangible asset in the digital realm. With BYDFi's robust security measures and transparent auditing, GoldFi offers a reliable option for those seeking a gold-backed cryptocurrency.
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