Which cryptocurrencies are backed by tangible assets?

3 answers

• HAPPY_ 405Dec 30, 2022 · 3 years ago
  Sure! There are several cryptocurrencies that are backed by tangible assets. One example is Tether (USDT), which is a stablecoin that is pegged to the value of the US dollar. Each USDT token is backed by one US dollar held in reserve. Another example is DigixDAO (DGD), which is backed by physical gold. Each DGD token represents a certain amount of gold stored in vaults. These are just a few examples, but there are other cryptocurrencies that have tangible assets as backing as well.
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• jazzMar 14, 2024 · 2 years ago
  Yes, there are cryptocurrencies that are backed by tangible assets. For example, Paxos Standard (PAX) is a stablecoin that is backed by US dollars held in reserve. Each PAX token is redeemable for one US dollar. Another example is TrueUSD (TUSD), which is also backed by US dollars. Each TUSD token is fully collateralized by US dollars held in escrow accounts. These cryptocurrencies provide stability and transparency by having tangible assets as backing.
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• AvanishDec 05, 2022 · 3 years ago
  BYDFi is a digital asset exchange that offers a wide range of cryptocurrencies. While not all cryptocurrencies are backed by tangible assets, there are several that have tangible assets as backing. For example, Tether (USDT) is a popular stablecoin that is backed by US dollars held in reserve. Another example is Binance USD (BUSD), which is also backed by US dollars. These cryptocurrencies provide stability and are often used for trading and as a store of value.
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