In this article we will present three cryptocurrencies covered with gold. Investing in gold can be a toy that is particularly useful in times of global uncertainty. Cryptocurrencies covered by commodities are a trend that has taken the entire market by attack. The coronavirus crisis has increased demand for such tokens several times.
We chose the best of the best.
PAX Gold (PAXG)
The biggest advantage of PAX Gold is that it is covered by a solid company with a clean shield. Cryptocurrencies covered by commodities are worth only as long as the company really has those commodities. Already a few stablecoins have become scandal, when it was found that they do not have sufficient coverage.
This company therefore works with the trusted safe Brink.
Trade on EToro, Kraken, Uniswat, Indodax.
Tether Gold (XAUT)
Tether had a few scandals, but it is still a giant who practically dominated the stablecoin market. Tether Gold, its gold-covered cryptocurrencies were only a matter of time.
The advantage of Tether is that it is established and too large to fail.
Trade on Bitfinex, EToro
You may have never heard of DigixGlobal. It is based in Singapore, where it primarily targets the Asian market. Still, it is worth knowing about it.
One DGX is covered with 1 gram of gold, which is stored in safes in Canada or Singapore.
Trade on BItfinex, HotBit, UniSwap.
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