Gold-backed cryptocurrencies are like stablecoins backed by physical gold. This concept emerged in 2017 when Bitcoin sided with the price of gold. It sparked interest among investors in choosing something as valuable and stable as gold. This article features the best gold-backed altcoin projects with potential in the future.
Best gold-backed altcoin for HODL
Tether Gold
Tether has also entered the gold-pegged cryptocurrency market to drive the next wave of devastating investments. The altcoin project was launched in 2020, with a total market cap of $160 million. With its gold reserves in Swiss vaults, Tether Gold offers a variety of services to exchange their crypto for physical gold or use it for cash. Investors can identify their gold by entering the wallet address holding their AUXt.
Meta Gold
Australian tech startup Meta Gold has partnered with Algorand for its decentralized gold token. Meta Gold can be purchased on the company’s platform for the gold rate. It is integrated into the existing gold supply chain, allowing the seller to instantly transact and pay for gold through tokenization. Another feature is that the platform offers the ability to trade both virtual gold and physical gold.
AABB Gold Token (AABBG)
AABBG is one of the latest projects in the gold-pegged altcoin market. The virtual token comes with a number of futuristic advantages. It follows a mine-to-token gold-backed format that ensures the existence of tokens in the digital network. Verifies physical gold holdings that 100% support the AABBD token from the company’s mining production segment.
Anthem Gold
Anthem Vault Inc. Developed by Anthem Gold, it offers tokens, each backed by one gram of physical gold. Gold is fully insured. It is also securely stored with a non-bank operator. The coin launched in April 2019 and is available on Anthem Gold Edge Wallet.
Gold Coin (GLC)
Gold Coin is an ERC-20 token developed by Digital Gold LTD. The altcoin was built and managed by a group of volunteers who believe in promoting economic freedom. Investors can access unique features such as two-minute confirmation speeds while holding GLC. This makes GLC the fastest transaction of all gold-pegged tokens. GLC also offers an exclusive Goldcoin Wallet for every gold purchased. Also, there are no transaction fees. This makes it extremely easy for investors to buy and hold their gold.
Perth Mint Gold Token (PMGT)
Perth Mint Gold Token, known as PMGT, is one of the most trusted gold-pegged altcoin projects on the market. Remarkably, PMGT has been officially recognized by the Australian government. The digital gold created by Western Australia’s Perth Mint is vouched for with blocks of real gold, and the company also provides digital gold certificates as proof of every purchase. Moreover, PMGT is famous among investors for its easy storage, less custody and insurance fees, and its competitive and cost-effective alternative.
PAX Gold (PAXG)
Launched by a trusted American company, Pax Gold, PAXG represents one ounce of a London Right Delivery gold bar. Launched in 2019, PAXG is stored in the vaults of Brink, one of the London Bullion Market Association’s approved storage facilities. The founders of the gold-pegged cryptocurrency developed PAXG to make buying gold easy and most importantly digital. By purchasing PAXG, token holders get full ownership of a portion of the gold and can also use it for trading purposes.
AurusGOLD (AWG)
AurusGOLD, also known as AWG, is a gold-backed token collateralized with 1 gram of 99.99% gold from LBMA certification refineries and can be redeemed for it. The sustainable digital gold token can be used as an alternative to unstable fiat currencies or as the earliest way to invest in gold. AWG is produced by gold investors who can arbitrage between the AWG and bullion markets. It also aligns the price of veAWG with the spot fold price.
DigixGlobal (DGX)
DigixGlobal is a Singapore-based company that provides gold-pegged DGX tokens. The DGX token is supported at a 1:1 ratio. Its market value is $1,183,867 dollars. Each token represents 1 ounce of gold. Gold is stored in Singapore and Canada, which is a unique added value compared to other projects on this list. By having storage locations in two parts of the world, the risks of having only one location are reduced.
Cash Telex (CTLX)
Cash Telex is linked to a diversified gold, silver, diamond and real estate fund. One Cash Telex is equal to one gram of gold. All gold is fully insured. It is also audited, also publicly verifiable.
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