Prices are in USD.
|Market Cap Rank||#217|
|Price Change 24H||-13.30%|
|Price Change Percentage 24H||-0.77%|
|Market Cap Change 24H||$-864,742.88|
|Market Cap Change Percentage 24H||-0.66%|
|Circulating Supply||75,441 xaut|
|All Time High||
April 29, 2020
|All Time Low||
March 19, 2020 -
|Explorers||https://ethplorer.io/address/0x4922a015c4407f87432b179bb209e125432e4a2a , https://etherscan.io/token/0x4922a015c4407f87432b179bb209e125432e4a2a|
|Community||https://www.facebook.com/1006796576013301 , https://twitter.com/tethergold , https://www.linkedin.com/company/tether|
Tether Gold is a cryptocurrency backed by real world gold. This brings together the advantages of gold and cryptocurrency together. As a result, we get one of the best stablecoins in the market. The Tether team is behind this cryptocurrency. Their fiat-backed token is one of the best cryptocurrencies in the market. This puts them in a position to succeed in this space. This is because they can apply the same model to Gold.
One Tether Gold token, XAUt, represents an ounce of a gold bar held by the London Good Delivery company. XAUt is an attempt to mobilise gold markets. This would lower entry barriers for non-institutional investors in the process.
Tether is looking to make this token an entity on its own. Therefore, TG Commodities handles the issuance of Tether Gold tokens. It is an independent body under Tether Operations Limited. This makes transparency easy to maintain. Also, it is important to note that one of the most trusted cryptos provides this token.
Owning one Tether Gold is the same as owning an ounce of gold on a real-world gold bar. Holders of Tether Gold coins obtain undivided ownership rights to that gold. The allocated gold is identifiable with a unique serial number, purity and weight. Clients can check details of a gold bar associated with an address at any time.
XAUt is an ERC-20 token hosted on the Ethereum blockchain. Additionally, you can find the coin on the Tron blockchain. Here, it is a TRC20 token. This makes it easily accessible. These are some of the most popular cryptocurrency platforms. You can trade and move XAUt tokens easily at any time.
Holders of XAUt can redeem the tokens at any time. They can redeem Tether Gold tokens for gold or for cash. Clients have to complete TG Commodities Limited’ verification to receive physical gold. The gold is delivered to a location of choice in Switzerland. However, clients can request to redeem for cash. In this case, TG Commodities Limited will attempt to sell the gold for cash.
TG Commodities Limited does not charge custody fees. However, users have to pay a one-time fee. They charge this when you purchase the Tether Gold tokens.
Tether Gold is not minable. This is because every coin has a link to a physical gold bar. TG Commodities issues all tokens to clients. For this, you need an account with TG Commodities Limited and perform a KYC test.
The current price of a Tether Gold token is USD 1,786.86. The market cap for this cryptocurrency is USD 86.91 million. This puts the coin at a rank of 109. This is very impressive for a coin with less than a year in the market. Moreover, it shows a slight rise in value over time.
Additionally, this cryptocurrency combines the benefits of two assets. It gives you the ability to hold both physical and digital assets. You can transfer your assets at a moment’s notice. It is very convenient.
Clients can be sure there is gold backing the tokens. This is because London Good Delivery backs this project. Moreover, for every gold bar redemption, the corresponding Tether Gold token is destroyed. Also, Tether is a company with an excellent track record.
This cryptocurrency is best for fund managers, exchanges and institutional investors. Understandably, it is quite expensive.
Tether Gold tokens is a product of Tether Operations Limited. While another entity issues the token, the same team heads the project. JL Van Der Velde is the CEO of the company. He has many experts on the team. The team is always working to improve Tether Gold. Their goal is to lower the entry barrier into gold as an asset.
Additionally, Tether Operations Limited offers excellent customer care. They are available to answer customer queries on email. Further, the company has an active social media presence. They keep the public updated and further answer customer queries.
However, it is important to note that the regulatory status of this company is not verifiable. The company has legal cases on its track record. These cases are mostly questioning the regulatory status of Tether Operations Limited.
The Ethereum blockchain is one of the safest networks that exist. This is the blockchain that hosts the Tether Gold token. Ethereum uses decentralised nodes throughout the network. These nodes work together to maintain security.
However, there is the possibility for profile attacks. This is due to some vulnerabilities in the smart contract system that Ethereum uses. These attacks lead to some mistrust by the public. Even so, Ethereum proves to be reliable time and time again.
In terms of privacy, Tether Gold takes clients’ privacy very seriously. The network applies hashing functions to conceal sensitive details. Transactions are between two abstract points. There is no way to link the abstract points to a certain user. All these while maintaining transparency in transactions.
The Tether Gold token is certainly something to keep an eye to. The team’s goal is to break the entry barrier into gold assets for individuals. In a way, they succeed in doing this. The idea of holding physical assets digitally is fascinating.
However, this does not solve cost issues. The minimum purchase allowed is 50 XAUt. That is roughly 75,000 USD. Not many people can afford this. Furthermore, this asset has limited trading options.
Additionally, Tether Gold’s issuer charges a verification fee. The verification fee is 150 USD, and it is non-refundable. The issuer retains the right to approve or reject your application. This means that you can pay the money and still get rejected.
Even so, we believe that this approach has a lot of potential.
You can buy Tether Gold on Bitfinex and RenrenBit. Additionally, you can trade the token on FTX or on Celsius Network. The minimum purchase allowed is 50 XAUt. That is roughly 75,000 USD. You need a verified account with TG Commodities Limited first.
You can buy Tether Gold tokens in fractions as small as an exchange allows. This can be as low as 0.000001 XAUt.
You can hold your XAUt assets on your TG Commodities Limited to sell later. Also, you can store it on your hardware wallets, Ledger and Trezor. The value of Tether Gold sees an increase in value. Moreover, the token has a significant market share. This makes it suitable as an investment.
Tether Gold tokens have great potential. Tether Operations Limited is successfully running a stablecoin model. They are running a fiat-backed currency. Their success is proving that they can pull this off. They have successfully lowered the entry barrier to gold as an asset.
This is a great cryptocurrency to have on your portfolio. This is especially true for Fund managers and institutional investors.