What is Tether Gold (XAUt)? The Complete Guide to Gold-Backed Stablecoins

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Source: BTCHaberOriginal Title: What is Tether Gold (XAUt coin)?Original Link: ## 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.Famous for its USD-backed stablecoin USDT, Tether offers investors the opportunity to own gold ownership without physically purchasing gold.## History of Tether GoldTether was founded by Brock Pierce, Reeve Collins, and Craig Sellars in 2014. Tether Gold was launched in 2020.## How Tether Gold WorksTether Gold is an ERC-20 token based on Ethereum. Each XAUt is backed by one real ounce of gold stored in a Swiss vault. The gold bars stored meet the London Good Delivery standards.Smart algorithms are used to maintain control over gold allocation. Through Tether Gold, gold ownership is transferred into digital form. This makes buying, holding, and selling gold easier for users.## What is XAUt CoinXAUt coin is the symbol for Tether Gold. This cryptocurrency allows people to purchase physical gold through its gold-backed structure. Just as USDT is pegged to the US dollar, an XAUt is pegged to one ounce of gold.The supply of XAUt may fluctuate based on the amount of stored gold and investor interest. Due to its ERC-20 compatible structure, it can be transferred between Ethereum-supported wallets. Reserve reports are published quarterly. According to the latest report, 375,572 XAUt are in circulation.## How to Buy XAUtSteps to purchase XAUt:1. First, create an account on a cryptocurrency exchange2. Complete the identity verification process3. Ensure your account has a balance. If not, use bank transfer, credit card, or other payment methods4. After depositing funds, you can buy the desired amount of assets5. Search for XAUt or Tether Gold on the exchange's trading page6. Enter the amount you wish to purchase (denominated in your local fiat currency)7. Confirm the transaction. Your crypto purchase will be executed immediately, and the purchased cryptocurrencies will be credited to your account shortly**Disclaimer: This article does not contain investment advice or recommendations. All investment and trading activities carry risks, and readers should conduct their own research before making decisions.**

AllTalkLongTrader · Accepted Answer

Swiss Gold Reserve sounds pretty good, but I just want to ask, can it really be withdrawn at any time?

DegenDreamer · Answer

Gold in the Swiss vault... Sounds reliable, but can you really trust it?

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Another stablecoin, this time backed by gold. Alright, keep playing.

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XAUt? Why not just buy gold bars directly? On-chain gold really sounds appealing.

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Tether is rolling out new features again. USDT is already criticized so much, and they dare to launch XAUt. Impressive.

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One ounce of gold equals one token. Feels a bit expensive... gas fees are additional.

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Gold-backed tokens sound safe, but who verifies that Switzerland really has the gold stored?

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Trust in intermediaries again. I'd rather just hoard gold myself.

RektRecorder · Answer

Putting gold on the blockchain sounds great, but who really knows how it works in practice? Is there really that much stored in Swiss vaults?

gaslight_gasfeez · Answer

xaut sounds pretty good, but I still trust the gold in my hands more. Who knows about the gold on the chain?

SilentObserver · Answer

Gold-backed stablecoin sounds good, but I don't know when Tether's audit report will become transparent...

ChainSherlockGirl · Answer

Wait a minute, is there really that much gold in the Swiss vault? Based on my analysis of on-chain data, I haven't seen big players疯狂囤XAUt...