10/25/2021 1 Comment
4 Rising Gold-Backed Crypto
1. Perth Mint Gold Token (PMGT)
Crypto PMGT is one of the best gold-backed cryptocurrency tokens available, as it is backed by actual gold blocks from Western Australia's Perth Mint. The fact that the Australian government guarantees the weight and purity of the gold makes this cryptocurrency legitimate. The Perth Mint uses the GoldPass app to issue digital gold certificates as proof.
At a 1:1 token-to-certificate ratio, these certificates can then be used to back PMGT tokens. Traders can use platforms like KuCoin to exchange these tokens.
2. Gold Coin (GLC)
The fractional nature of this gold-backed cryptocurrency means that each coin is worth a fraction of a gram of gold. This is in contrast to some other coins, as well as gold itself, where the initial investment can be quite high.
Gold Coin has been around for a long time and is based on the Ethereum blockchain. This is one of the safer options due to the stable platform and ease of entry. You can put money into it gradually as it a gold backed crypto you can invest for the long term.
3. Tether Gold (XAUT)
Tether, the world's largest stablecoin issuer, now has a gold-backed token called XAUT. Each of Tether's tokens represents a single troy ounce of gold on one London Good Delivery bar of gold, as provided by TG Commodities Ltd.
Tether's gold reserves are kept in Swiss vaults, and token holders can look up the serial numbers of their individual gold bars on the company's website. Tether investors can have their gold physically delivered or redeemed for cash. The current market capitalization of XAUT is $87,717,901.
The AABB Gold Token (AABBG)
The AABB Gold Token is a new addition to the gold-backed crypto world, but it is intriguing for a number of reasons. First and foremost, AABBG is distinguished by its vertical integration of Mine-to-Token gold-backing. AABB holds verifiable physical gold assets that back the AABBG token 100 percent from the company's mining production segment, which sets it apart from other gold-backed cryptos.
The AABBG token is also far more accessible for the average trader than Tether Gold. The AABBG token price is given in grams rather than ounces, making this an exciting buying opportunity for investors who may have been put off by other gold-backed tokens' extremely high entry points.
2/16/2023 12:00:23 am
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