Tether Gold

Overview of Tether Gold

Tether Gold (XAU₮), a crypto-asset offering ownership of physical gold (XAU) that’s reportedly custodied in Switzerland, has experienced a significant increase in its demand as the price of gold surged past $1,900 a troy ounce – which may have been due to the economic uncertainty created by the Coronavirus and rising geopolitical tensions.

Tether Gold will purchase, or arrange for the purchase of London Good Delivery gold from a gold dealer in Switzerland, which will then be securely stored by a custodian in a vault in Switzerland.

Tether Gold (XAU₮) offers zero custody fees and the company claims that it has direct control over physical gold storage, which reportedly resides in a vault based in Switzerland.

Tether Gold was produced and launched on two blockchain networks as the ERC-20 token created on the Ethereum blockchain and TRX20 token created on the Tron network.

Tether Gold price Index provides the latest XAUT price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

Tether Gold quickly reached a high market capitalization and a good level of volume, leading to speculation that it might soon replace Tether USDT.

Tether Gold holders will receive an annualized interest of 4 percent for keeping the digital currency on Celsius’ interest-bearing accounts.

Tether Gold offers diversification in terms of risk and volatility and I expect it to reach a market capitalization of at least $100 million.

Tether Gold (XAU₮) has become the number one gold-backed cryptocurrency by market cap after launching earlier this year.

Tether Gold and CEL are not the only cryptos that can be bought via credit and debit cards on Celsius network.

Blockchain

Every single ounce of gold issued on-chain has a corresponding fine troy ounce of gold in a vault.Tether Gold has for each outstanding issued gold token on the blockchain a corresponding fine troy ounce of gold sitting in a vault that can be audited by the Tether team.

Network

In February 2020, Celsius launched in-app crypto purchases through a partnership with Simplex, unlocking Bitcoin (BTC) and Ether (ETH) via credit or debit cards.Similar to other Simplex integrations with major crypto firms like Binance and Huobi, the feature supports credit card issuers, including Visa and MasterCard.

How Does Tether Stay at $1?

While Tether has dropped below $1 before, the stablecoin is able to retain its value because it is pegged to a matching fiat currency and 100% backed by Tether’s reserves.

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What is Tether Gold (XAUT)?

Tether Gold (XAUt) is a stablecoin backed by gold.It is issued by TG Commodities Limited as a tokenized representation of physical gold, in which 1 XAUt token is equal to 1 troy fine ounce of a London Good Delivery gold bar.

How does Tether Gold (XAU?) work?

According to a blog post from Tether, the cryptocurrency is backed by gold stored in a secure vault in Switzerland.

Could XAU? take off soon?

Firstly, I’m personally not 100% convinced the token will be fully backed by real gold.In order for me to believe such a statement, a trail of audits is required.

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Bitcoin or gold?

The price of Bitcoin (BTC) briefly rose above $10,000 today after a particularly long stretch of low volatility between $9,000-$9,500.

What is Tether Gold (XAU?)?

Tether Gold (XAU?) is a brand new product released by Tether.The idea behind XAU? is to have a cryptocurrency backed by gold – a ‘safe haven’ asset that historically gains value over time.

How does Tether Gold (XAU?) work?

Tether Gold (XAU?) has started big!XAU? can now be traded on @Bitfinex with U.S.Dollar (XAUt/USD), #tether (XAUt/USDt), and #bitcoin (XAUt/BTC).View the official announcement ?? https://t.co/Sf5PP4bWMp pic.twitter.

Where can I buy Tether Gold (XAUT)?

You can buy Tether Gold (XAUt) on Bitfinex.You can also trade Tether Gold (XAUt) futures on FTX.

Could XAU? take off soon?

Firstly, I’m personally not 100% convinced the token will be fully backed by real gold.In order for me to believe such a statement, a trail of audits is required.

Why the need for Tether Gold?

Even though a great deal of cryptocurrency investors and traders prefer USD-backed stablecoins at the moment, there may come a time when gold is preferred.

Can I earn interest on Tether Gold (XAUT)?

Yes.You can earn interest on Tether Gold (XAUt) deposits through Celsius Network.Interest earned on Tether Gold (XAUt) deposits starts at 3% per annum.

Is Tether Gold legitimate?

TG Commodities Limited, Tether Gold’s issuer, doesn’t appear to be subject to any regulatory authority in any jurisdiction.The company is affiliated with Tether Operations Limited, the company responsible for issuing the Tether (USDT) stablecoin.

Will the FED Decision Increase Bitcoin Price?

Cryptocurrency markets have been in major downtrend in recent days.Bitcoin and other cryptocurrencies also dropped similarly, after the US index indicators experienced the largest daily sales years later.

What is Tether Gold (XAUt)?

XAUt is a digital asset offered by TG Commodities Limited.One XAUt token represents one troy fine ounce of gold on a London Good Delivery gold bar.

How Do I Buy USDT?

Tether tokens can be transacted on popular cryptocurrency exchanges that include Binanace, CoinSpot, BitFinex, and Kraken.

What Is Tether (USDT)?

Tether is a blockchain-based cryptocurrency whose cryptocoins in circulation are backed by an equivalent amount of traditional fiat currencies, like the dollar, the euro, or the Japanese yen, which are held in a designated bank account.Tether tokens, the native tokens of the Tether network, trade under the USDT symbol.

What are the fees associated with purchasing and redeeming Tether Gold (XAUT)?

There are no fees associated with purchasing Tether Gold (XAUT) directly from the issuer.Tether charges a 25 basis point fee plus applicable fees when you redeem the tokens for fiat or physical gold bars.Standard bid/ask spread may apply when trading Tether Gold (XAUt) on an exchange.

Is Tether Gold an ERC-20?

Yes.Tether Gold is issued as an ERC-20 token on the Ethereum (ETH) Blockchain.

Is Tether a Stablecoin?

Yes, Tether is the first and most well-known stablecoin in the crypto world. Other stablecoins include True USD (TUSD), Pazos Standard (PAX), and USD Coin (USD).

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What Is the Point of the Tether Token?

Tether (USDT) offers a way for investors to avoid the extreme volatility of other cryptocurrencies.By moving value to USDT, a trader might reduce their risk of exposure to a sudden drop in the price of cryptocurrencies.It is also much quicker and cheaper to transfer BTC into Tether rather than the U.S.dollar.

Why the need for Tether Gold?

Even though a great deal of cryptocurrency investors and traders prefer USD-backed stablecoins at the moment, there may come a time when gold is preferred.

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What Is Tether Used For?

Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies.Furthermore, having USDT (as opposed to the U.S.dollar) removes transaction costs and delays that impair trade execution within the crypto market.

History of Tether Gold