common-close-0
BYDFi
Trade wherever you are!

Do you know of any cryptocurrencies that are backed by gold?

avatarmajorDec 26, 2021 · 3 years ago3 answers

Can you recommend any cryptocurrencies that have gold backing? I'm interested in investing in digital currencies that are backed by physical gold. Are there any options available?

Do you know of any cryptocurrencies that are backed by gold?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Yes, there are several cryptocurrencies that are backed by gold. One popular example is Tether Gold (XAUT), which is a stablecoin that represents one troy ounce of gold on a one-to-one basis. It provides the benefits of both cryptocurrencies and physical gold, offering stability and security for investors. Another option is DigixDAO (DGD), which is a decentralized autonomous organization that tokenizes gold on the Ethereum blockchain. It allows users to purchase and trade gold-backed tokens, providing a transparent and secure way to invest in gold. Both of these cryptocurrencies offer a unique way to combine the advantages of digital currencies with the stability of gold.
  • avatarDec 26, 2021 · 3 years ago
    Sure, there are a few cryptocurrencies backed by gold that you might find interesting. One example is PAX Gold (PAXG), which is an ERC-20 token backed by one fine troy ounce of London Good Delivery gold stored in Brink's vaults. It allows investors to own and trade physical gold in a digital form, providing a convenient and secure way to invest in gold. Another option is GoldCoin (GLC), which is a cryptocurrency that is backed by physical gold stored in a secure vault. It aims to provide stability and value preservation through its gold backing. These gold-backed cryptocurrencies offer an alternative investment option for those who want exposure to both digital currencies and gold.
  • avatarDec 26, 2021 · 3 years ago
    Yes, there are a few cryptocurrencies that are backed by gold. One notable example is Tether Gold (XAUT), which is a tokenized version of gold that is backed by physical gold held in a Swiss vault. Each token represents one troy ounce of gold, providing a secure and transparent way to invest in gold. Another option is PAX Gold (PAXG), which is an ERC-20 token backed by physical gold stored in Brink's vaults. It allows investors to own and trade gold in a digital form, combining the benefits of both gold and cryptocurrencies. Lastly, there's BYDFi, a decentralized finance platform that offers a gold-backed stablecoin called BYD Gold (BYDG). It is backed by physical gold and aims to provide stability and liquidity for users. These gold-backed cryptocurrencies offer a unique investment opportunity for those who want exposure to both the digital and physical asset.