Tether Gold (XAUt) What is it? A detailed explanation of the gold-backed cryptocurrency

Question

Source: BTCHaberOriginal Title: What is Tether Gold (XAUt coin)?Original Link: https://www.btchaber.com/tether-gold-xaut-coin-nedir/# Basic Introduction to Tether GoldTether Gold is a stablecoin backed by physical gold, symbolized as XAUt. Each XAUt represents one ounce of gold stored in a Swiss vault.Since Tether is well-known for its popular USD-pegged stablecoin USDT, Tether Gold offers investors the opportunity to gain gold ownership without actually purchasing physical gold.## The Creation of Tether GoldTether was founded by Brock Pierce, Reeve Collins, and Craig Sellars in 2014. Tether Gold was launched in 2020.## How It WorksTether Gold is based on the Ethereum ERC-20 token standard. Each XAUt is backed by one ounce of real gold stored in a Swiss vault. The stored gold bars meet the London Good Delivery Standard.To control gold allocation, the system uses smart algorithms. Through Tether Gold, gold ownership is converted into a digital form. This makes it easier for users to buy, hold, and sell gold.## Details of the XAUt TokenXAUt is the symbol for Tether Gold. This crypto asset, backed by its gold reserve, enables people to access physical gold through digital channels. Just as USDT is pegged to one US dollar, one XAUt is pegged to one ounce of gold.The supply of XAUt may vary based on the amount of stored gold and investor interest. Thanks to its ERC-20 compatibility, it can be transferred among Ethereum-supported wallets. Reserve reports are published quarterly.## How to Buy XAUtTo purchase XAUt, follow these steps:1. Create an account on a cryptocurrency exchange2. Complete the identity verification process3. Ensure your account has a balance (via bank transfer or credit card)4. Select the desired amount of assets to purchase5. Confirm the transactionOnce purchased, the crypto assets will be transferred to your account shortly.**Disclaimer: This article does not constitute investment advice or recommendations. All investment and trading activities carry risks. Readers should conduct their own research before making decisions.**

CoffeeOnChain · Accepted Answer

Gold on the blockchain has been talked about for so many years, and the only one truly willing to back it with a Swiss vault is Tether. However, I still have some doubts...

SleepyArbCat · Answer

Gold coins? It's another Tether trick... Is there really gold stored in the Swiss vault? My alertness is limited, I need to see if the gas fees are worth it.

ShadowStaker · Answer

xaut sounds nice on paper but honestly the real question is validator distribution across chains minting this thing... like who's actually running the infrastructure here? tbh tether's track record with reserves audits doesn't exactly scream transparency lol

CryptoDouble-O-Seven · Answer

Gold coins? To put it simply, it's a trust game. It depends on whether Tether is reliable or not.

WalletDoomsDay · Answer

Is there really that much gold in the Swiss vaults? I keep feeling like something's off.

DegenApeSurfer · Answer

Golden chain on the blockchain? Sounds good, but I still want to see the Swiss vault audit report.