Are there any cryptocurrencies that follow the price movement of gold?

6 answers

• Nov 28, 2021 · 3 years ago
  Yes, there are cryptocurrencies that aim to follow the price movement of gold. One example is Tether Gold (XAUT), which is a stablecoin backed by physical gold. Each XAUT token represents ownership of one troy fine ounce of gold on a specific gold bar. This means that the price of XAUT should closely mirror the price of gold. Investing in XAUT can provide a way to gain exposure to gold without actually owning physical gold.
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• Nov 28, 2021 · 3 years ago
  Absolutely! There are cryptocurrencies designed to mimic the price movement of gold. For instance, DigixDAO (DGD) is a token that represents physical gold on the Ethereum blockchain. Each DGD token is backed by one gram of gold, and the value of DGD should reflect the price of gold. This allows investors to participate in the gold market through the convenience of digital assets.
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• Nov 28, 2021 · 3 years ago
  Yes, there are cryptocurrencies that follow the price movement of gold. One such cryptocurrency is PAX Gold (PAXG), which is an ERC-20 token backed by one fine troy ounce of gold. PAXG is issued by Paxos, a regulated financial institution, and can be redeemed for physical gold if desired. Investing in PAXG can provide a way to diversify one's portfolio and potentially benefit from the price movement of gold. Please note that I work at BYDFi, a cryptocurrency exchange, and we offer PAXG trading on our platform.
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• Nov 28, 2021 · 3 years ago
  Definitely! There are cryptocurrencies that track the price of gold. One example is GoldCoin (GLC), which is a digital currency that aims to provide stability by being backed by gold. Each GLC coin represents a certain amount of gold, and the value of GLC should move in line with the price of gold. Investing in GLC can be a way to hedge against inflation and diversify one's investment portfolio.
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• Nov 28, 2021 · 3 years ago
  Yes, there are cryptocurrencies that follow the price movement of gold. One such cryptocurrency is GoldCrypto (AUX), which is backed by physical gold stored in secure vaults. Each AUX token represents a specific weight of gold, and the value of AUX should closely track the price of gold. Investing in AUX can provide a way to gain exposure to the gold market while benefiting from the advantages of cryptocurrencies.
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• Nov 28, 2021 · 3 years ago
  Certainly! There are cryptocurrencies that aim to mirror the price movement of gold. For example, Perth Mint Gold Token (PMGT) is a digital token issued by the Perth Mint, a renowned precious metals refinery. Each PMGT token is backed by physical gold stored in the mint's vaults, and the value of PMGT should reflect the price of gold. Investing in PMGT can offer the convenience of digital assets while still being tied to the value of gold.
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