Are there any digital currencies that are backed by physical gold, similar to gold spot?

1 answers

• Mausab Bin UmairJan 26, 2022 · 3 years ago
  Yes, there are digital currencies that are backed by physical gold, similar to gold spot. These currencies offer a unique way to combine the benefits of digital assets with the stability of gold. One such currency is Tether Gold (XAUT), which is backed by physical gold held in a vault in Switzerland. Each XAUT token represents ownership of one troy ounce of gold. This means that the value of XAUT is directly tied to the price of gold. By investing in XAUT, you can benefit from the potential appreciation of gold while enjoying the convenience and security of a digital asset. It's a promising option for those interested in the intersection of digital currencies and gold.
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