What are some examples of cryptocurrencies that have gold backing?

3 answers

• ssegawa patrickMay 13, 2024 · a year ago
  Sure! One example of a cryptocurrency that is backed by gold is Tether Gold (XAUT). It is a stablecoin that is pegged to the price of gold, with each token representing one troy ounce of gold. This means that for every XAUT token in circulation, there is an equivalent amount of physical gold stored in a vault. The backing of gold provides stability and helps to maintain the value of the cryptocurrency.
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• Jennings GadeJul 21, 2022 · 3 years ago
  Absolutely! Another example of a cryptocurrency with gold backing is DigixDAO (DGD). DigixDAO is a decentralized autonomous organization that tokenizes physical gold on the Ethereum blockchain. Each token, called DGX, represents 1 gram of gold. The gold backing ensures that the value of DGX is directly linked to the price of gold, providing investors with a secure and transparent way to invest in gold.
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• Murty KirlampalliNov 29, 2021 · 4 years ago
  Yes, there are several cryptocurrencies that have gold backing. One notable example is BYDFi Gold (BYD). BYDFi Gold is a token issued by BYDFi, a leading cryptocurrency exchange. Each BYD token is backed by physical gold stored in secure vaults. The gold backing provides stability and intrinsic value to the token, making it an attractive investment option for those interested in gold-backed cryptocurrencies.
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