Which cryptocurrencies are backed by physical gold?

3 answers

• Lodberg CraigJan 09, 2024 · 2 years ago
  Sure! There are a few cryptocurrencies that are backed by physical gold. One of the most well-known ones is Tether Gold (XAUT), which is a stablecoin that represents ownership of one troy ounce of gold on a specific gold bar. Another option is DigixDAO (DGD), which allows users to buy and trade tokens that represent physical gold stored in vaults. These are just a couple of examples, but there are other cryptocurrencies in the market that offer similar features.
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• Safaa ZahranMar 18, 2024 · a year ago
  Absolutely! If you're looking for cryptocurrencies backed by physical gold, you might also consider PAX Gold (PAXG). PAXG is an ERC-20 token that represents one fine troy ounce of a London Good Delivery gold bar. It is regulated by the New York State Department of Financial Services and is audited by a third-party firm. This ensures transparency and accountability in the backing of the token with physical gold.
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• Futtrup StaffordDec 02, 2022 · 3 years ago
  Yes, there are cryptocurrencies backed by physical gold. One such example is BYDFi (BYD), which is a decentralized finance platform that allows users to trade and invest in cryptocurrencies backed by physical gold. BYDFi ensures the security and transparency of its gold-backed tokens through smart contracts and regular audits. It provides a unique opportunity for investors to participate in the cryptocurrency market while having the stability of physical gold.
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