Binance is the world's largest cryptocurrency exchange in terms of market capitalization. Offers support for thousands of cryptocurrencies, many of which are gold-backed stablecoins. On Binance, you can fund your account with a bank or other cryptocurrency and convert almost any asset into a stablecoin. It's all up to you, assuming the asset is on the list.
The platform also offers several trading features, making it ideal for both novice and expert traders. If you're interested in splitting away from stablecoins, Binance has tons of detailed documentation about the crypto industry for you to consume. Finally, this exchange has a wallet for you to store your assets as well. While Binance isn't a gold-backed cryptocurrency exchange, it's definitely a decent alternative.
Based in San Francisco, Coinbase is a popular cryptocurrency exchange. Because of this, it is much more selective in its offerings. Even so, the underlying support makes it a great space to buy gold-backed cryptocurrencies. Like Binance, Coinbase has a wallet for online storage.
It also contains a ton of documentation to learn about stablecoins and other crypto industry commodities. If you live in the UK, there's even a physical debit card, Coinbase Card, to spend on the go. Beginner traders have more than enough features to make an informed purchase. However, if you've been in space for a while, Coinbase has a professional exchange with more information than Binance.
Just keep in mind that Coinbase has more expensive trading fees than most other exchanges. However, it's a reliable platform, which is what you're paying for. Gemini is a cryptocurrency exchange founded by the Winklevoss twins of Facebook fame. The project is regulated by the New York Department of Financial Services.
It also often undergoes banking examinations and audits. These regulations make it an excellent platform for trading gold-backed cryptocurrencies. It is the first cryptographic platform to also hold the SOC 1 Type 2 and SOC 2 Type 2 compliance certificates. Gemini even offers hardware keys and insurance coverage for all assets stored on the platform.
Gemini offers several products, such as its mobile application, a custody platform, a space to earn and even its own stablecoin. That stablecoin, the Gemini Dollar, is pegged to the value of the USD. Can be used to trade gold-backed stablecoins, among other assets, similar to Binance's BNB asset. Finally, like Binance and Coinbase, Gemini has its own offering of learning documents to learn more about the cryptocurrency industry.
The AABB Gold (AABBG) token is an ERC-20 token developed on the Ethereum blockchain by Asia Broadband, Inc. All tokens sold are 100% backed by physical gold, and 1 AABBG token equals 0.1 grams of gold. Tokens can be exchanged via AABB Wallet on the Google Play Store or Apple App Store. The biggest stablecoin is Tether (USDT).
A Tether token is backed by a USD. The largest token by market cap is the gold token Perth Mint (PMGT) for gold-backed cryptos. The platform itself offers fiat-to-crypto pairs in USD and EUR and several crypto-crypto options. Trading fees for using Coinsbit are 0.20% in line with the industry average.
The platform is said to specialize in offering major currencies, including the GoldFinx (GiX) stablecoin outside of Singapore. Bitfinex is known as a cryptocurrency exchange for advanced traders and, as a result, it has a high trading volume and reputation. The exchange is known for offering features such as marginal trades, limit and stop orders, and over-the-counter (OTC) desks. Trading fees are on par with the other exchanges mentioned by 0.20% as taker commission and 0.10% for creators.
That said, rates can vary depending on trading volume, which can cause commissions to be as low as 0.0% or as high as 0.055%. Bitfinex Offers Gold-Backed Stablecoin Tether Gold (XAut). In this context, it's easy to see why gold-backed crypto projects are seeing such a huge increase in popularity. Instead of worrying about physically holding gold, you can now buy crypto-backed gold.
In some cases, you can exchange tokens for real gold. While in others, you simply exchange and withdraw the token when it's time to make a profit or buy more. A utility token (NOVEM — NVM) is used to pay for services and trading costs related to the 999.9 gold token. MAST is a modern digital asset that combines multiple tiers of stocks and currencies that are backed by physical allocations of gold.
BULLIONBLOCK is developing a decentralized mobile payment gateway platform on its own blockchain, offering transparent, instant and secure options for financial and remittance transactions protected by physical gold and silver bullion. With the price of the token linked to the current price of gold, there is less price volatility compared to Bitcoin or other altcoins. LDX will be backed by real physical gold, accumulated and locked in a “reserves only” foundation in Switzerland. GoldBase (ABG) cryptocurrency is equivalent to 1 g of physical gold and can be redeemed 100% for 100% physical gold.
After November 11, Kinesis will have its ICO offering the sale of its KAU gold and silver transaction coins. Gold may lack some of the built-in excitement that cryptocurrency trading brings with it, but historically it's a big bet against inflation, and the price chart almost always points in the right direction. Unlike other gold-linked tokens where gold comes from a variety of sources, 100% of the gold purchased with AABBG comes directly from the company's mining project. Some of the cryptocurrencies listed here also don't detail how they store and account for gold, so proceed with caution.
This gold-backed cryptocurrency is one of the most popular on exchange platforms, as it is linked to the gold blocks of the Perth Mint of Western Australia. Anyone who owns PGOLD based on ERC-20 Ethereum has ownership rights to that gold in the custody of Pyrrhos Trust Company. More gold-backed cryptocurrencies are being developed, so they will be added here as they become known. Tether holds its gold reserves in Swiss vaults and allows token holders to look up the serial numbers of their specific gold bars on the company's website.
Technically, any asset could be used as a backup for a cryptocurrency, but gold is the most obvious option after fiat currency. . .