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Top Gold-backed Cryptocurrencies you should definitely invest

Happy Dhanteras, this Dhanteras invest in these Gold-backed Digital Assets.

Photo by Jingming Pan on Unsplash

Many people outside India may don’t know, but Hindus consider DHANTERAS as an extremely auspicious day for making new purchases, especially of gold or silver articles and new utensils.

It is believed that the new “Dhan” (wealth) or some item made of precious metal is a sign of good luck.

In modern times, Dhanteras has come to be known as the most auspicious occasion for buying gold, silver, and other metals, especially kitchenware. The day also sees heavy purchases of appliances and automobiles.

Now you know why Indian homes own more gold than many governments of the world.

Coming back to the topic, these are the top Gold-backed Cryptocurrency, which can be a great investment for the future.

Why do we need Gold-backed Cryptocurrency?

Gold has been traditionally regarded as an eternal measure of value since times immemorial. With the rising inflation, the traditional paper currencies all over the world have started losing value, especially the U.S. Dollar.

Many investors like Robert Kiyosaki have warned and encouraged people to invest in Gold and Cryptocurrency. So a combination of Gold + Cryptocurrency is too much gold.

But we have to be cautious because Cryptocurrency comes with its own risks, but with greater risks come great rewards.

Next-Generation Gold Alternative

I will divide the Crypto-Gold currencies into two parts, Safe and Risky:

SAFE ONES: These coins are popular investments and have got lots of liquidity, so the scam happening in these digital assets is minimal.

  • Digital Gold (GOLD): GOLD is a digital crypto asset issued out by Digital Gold Ltd Company. The token is the first stable coin with 100% liquidity and is backed by physical gold, enabling users to invest in physical gold. This is achieved using an ERC-20 Ethereum-based GOLD token with the ticker, (GOLD). One GOLD is equivalent to 1 gram of physical gold.

    Launch Date: July 2019
    Launched by: DIGITAL GOLD LTD company, St. Vincent and Grenadines.
    Blockchain: Ethereum
    For more info: Digital Gold Website
  • Tether Gold (XAUT): Each XAUT represents ownership of one troy fine ounce of physical gold on a specific gold bar.
    The allocated gold is identifiable with a unique serial number, purity, and weight.
    Holders of XAU₮ can make a redemption request in the form of physical gold, so long as holders have completed TG Commodities Limited’s verification process and hold the required minimum number of XAU₮.
    However, it’s worth noting that Tether, the company behind Tether Gold, has come under fire in the past regarding its audits, with claims that only 74% of the Tether stable coin is actually backed by USD.
    Whether each XAU₮ token is fully backed by gold remains unanswered.

    Launch Date: January 2020
    Launched by: TG Commodities Limited
    Blockchain: Ethereum, Tron
    For more info: XAU₮ Website
  • Pax Gold (PAXG): Each of the ethereum-based tokens encapsulates the legal title to a physical bar of gold stored in the Brink’s London vault. Pax Gold has also been approved by the New York Department of Financial Services.
    Each PAXG token costs the same as an ounce of gold and can be redeemed for a physical gold bar at Paxos’ partnering institutions such as Bullion Exchanges in New York.

    Launch Date: September 2019
    Launched by: Paxos
    Blockchain: Ethereum
    For more info: PAXG Website
  • Perth Mint Gold Token (PMGT): The Perth Mint Gold Token (PMGT) is backed by gold in the Western Australian government’s Perth Mint.
    The purity and weight of the gold backing the PMGT token are guaranteed by the Australian government, with the mint issuing digital gold certificates through the GoldPass app.
    It is important t to note that although PMGT holdings are fully redeemable for physical gold, liquidity is minimal.

    Launch Date: October 2019
    Launched by: InfiniGold
    Blockchain: Ethereum
    For more info: PMGT Website

RISKY ONES: They are new and don’t have much liquidity, but they are cheap and have a future if the scam didn’t happen.

  • Jinbi Token: Jinbi guarantees that in the Year of the Dragon 2024 every Jinbi can be exchanged for a 1oz fine gold coin. Price can go from $300 to $2000.
  • AABB Gold Token: Asia Broadband, Inc. (OTC: AABB) is entering the fray with its AABB Gold token (AABBG).
    It’s a gold-backed currency, but the company is going a step further with its unique proposition: the gold they’re backing their token with is directly produced by their gold mines.
    Their stock is also looking good and if this wallet becomes successful, the company can make good profits. Join AABB wallet and use referral to get bonus: 565523.

Hope this auspicious day will bring happiness and wealth to your life. Again Happy Dhanteras.

Himanshu India
Incredible Bharat | Skillshare | Hi Dollar | Pipeflare

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Himanshu India

Himanshu India

Crypto and Finance enthusiast and avid reader of Indian Culture.

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