Which cryptocurrencies are backed by physical gold and how much are they worth?

3 answers

• shotbroMay 08, 2022 · 3 years ago
  Sure! There are several cryptocurrencies that are backed by physical gold. One of the most well-known ones is Tether Gold (XAUT), which is backed by one troy ounce of gold. Its value is directly tied to the price of gold, so it fluctuates accordingly. Another example is DigixDAO (DGD), which represents ownership in physical gold bars stored in vaults. Its value is determined by the market demand for gold. Additionally, there is also GoldCoin (GLC), which is backed by physical gold and offers stability and security. The value of GoldCoin is determined by the current market price of gold. These are just a few examples of cryptocurrencies backed by physical gold, and their values can be tracked on various cryptocurrency exchanges.
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• Angy Glz Peke GRNov 24, 2023 · 2 years ago
  Yes, there are cryptocurrencies that are backed by physical gold. One such example is PAX Gold (PAXG), which is an ERC-20 token backed by one fine troy ounce of a 400 oz London Good Delivery gold bar. Its value is tied to the real-time market price of gold and can be traded on various platforms. Another example is AurusGOLD (AWG), which is backed by 1 gram of 99.99% LBMA-approved gold. Its value is determined by the gold spot price and can be redeemed for physical gold. These cryptocurrencies provide a way for investors to gain exposure to the value of gold while enjoying the benefits of digital currencies.
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• preetham varmaApr 11, 2022 · 3 years ago
  As an expert in the field, I can confirm that there are cryptocurrencies backed by physical gold. One of the most popular ones is Tether Gold (XAUT), which is backed by one troy ounce of gold held in a Swiss vault. Its value is pegged to the price of gold and can be easily tracked on various cryptocurrency exchanges. Another notable example is DigixDAO (DGD), which represents ownership in physical gold bars stored in vaults. Its value is determined by the market demand for gold and can also be traded on exchanges. These cryptocurrencies backed by physical gold provide a unique opportunity for investors to diversify their portfolios and hedge against traditional market volatility.
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