Tether Gold is a cryptocurrency that is backed by physical gold, with each token representing ownership of one troy ounce of the precious metal moreTether Gold is a cryptocurrency that is backed by physical gold, with each token representing ownership of one troy ounce of the precious metal. The benefits of Tether Gold include:
1. Price stability: Tether Gold is designed to be pegged to the price of physical gold, providing stability and predictability.
2. Access to physical gold: Tether Gold allows investors to gain exposure to physical gold without the need to store, transport, or protect the metal.
3. Liquidity: Tether Gold can be easily traded on cryptocurrency exchanges, providing investors with greater liquidity than physical gold.
4. Transparency: Each Tether Gold token is fully backed by one troy ounce of physical gold, and the gold is held in a Swiss vault and audited by a third-party firm.
The XAUT token is used to represent ownership of Tether Gold. It can be traded on cryptocurrency exchanges, and its value is tied to the price of physical gold. As of March 2021, each XAUT token is worth approximately one troy ounce of gold.
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