Gold-Backed Cryptocurrencies: A Guide to the Market's Most Popular Tokens
Understanding Gold-Backed Cryptocurrencies
Gold-backed cryptocurrencies are digital assets whose value is tied to the price of gold. These cryptocurrencies are often backed by physical gold reserves held by the issuer or custodians. Each token represents fractional ownership of gold bars or coins stored securely, providing token holders with convenient exposure to gold prices without the hassle of owning physical bullion.
Gold-backed cryptocurrencies combine the benefits of blockchain technology, such as fast and secure transactions, with the intrinsic value and stability of gold. This makes them attractive to investors seeking a hedge against currency devaluation or economic uncertainty.
Market Overview
The Tokenized Gold market has a cap of 114 billion, representing a 16% change in the last 24 hours. Discover top Tokenized Gold coins and view today's prices, market cap, 24h volume charts, and more info.
Examples of Gold-Backed Cryptocurrencies
Here are some of the most popular gold-backed cryptocurrencies on the market today:
- Goldcoin (GLC)
- Perth Mint Gold Token (PMGT)
- Tether Gold (XAUT)
- Digix Gold (DGX)
- Pax Gold (PAXG)
Goldcoin (GLC)
Goldcoin is a decentralized, open-source gold-backed cryptocurrency. GLC's value is backed by physical gold stored in a Swiss vault. Each GLC token represents 1 gram of gold.
Perth Mint Gold Token (PMGT)
PMGT is a gold-backed cryptocurrency issued by the Perth Mint, Australia's official bullion mint. Each PMGT token represents 1 gram of gold held in the Perth Mint's vaults.
Tether Gold (XAUT)
XAUT is a gold-backed stablecoin issued by Tether, the company behind the popular USDT stablecoin. Each XAUT token represents 1 troy ounce of gold.
Digix Gold (DGX)
DGX is a gold-backed cryptocurrency backed by physical gold stored in vaults around the world. DGX tokens are fractionalized, meaning that each token represents a fraction of a gold bar.
Pax Gold (PAXG)
PAXG is a gold-backed cryptocurrency issued by Paxos, a regulated blockchain infrastructure company. Each PAXG token represents 1 troy ounce of gold held in custody by Paxos.
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