Cryptocurrency Q&A
Which stablecoin is backed by gold?
Which stablecoin is backed by gold?
Margherita
Wed Nov 06 2024
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5 answers
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The stablecoin that is backed by gold is known as a gold-backed cryptocurrency. Examples include PAX Gold, Tether Gold (XAUT), GoldCoin, and Kinesis Gold. These digital assets are supported by physical gold reserves, combining the stability and intrinsic value of gold with the transparency and decentralization of blockchain technology.
5 answers
Alessandro
Fri Nov 08 2024
Each XAUT token represents ownership of one troy ounce of gold, providing investors with a digital representation of their precious metal holdings.
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CryptoEmpireGuard
Fri Nov 08 2024
XAUT is a unique digital asset that operates on a different principle compared to other cryptocurrencies.
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Valentina
Fri Nov 08 2024
Issued by Tether, XAUT is a stablecoin that promises stability and security to its investors.
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BlockchainBaronGuard
Fri Nov 08 2024
The value of XAUT is tied to physical gold, which acts as its underlying asset.
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CryptoNerd
Fri Nov 08 2024
This gold is securely stored in a vault located in Switzerland, ensuring its safety and accessibility.
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