Tether Gold

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Discover Tether Gold's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Tether Gold?

Tether Gold (XAUT) is a digital asset structured as a stablecoin, pegged to the value of gold. Each XAUT token represents indirect ownership of one troy ounce of physical gold, stored in secure vaults. It combines the benefits of physical gold with the convenience and liquidity of digital assets, allowing holders to transact globally while avoiding traditional gold custody issues.

How is Tether Gold used?

Tether Gold (XAUT) is a digital asset backed by physical gold, offering a blockchain-based way to buy, hold, and transfer gold ownership. Here are the key aspects of how it is used:

  1. Digital Ownership: Each XAUT token represents indirect ownership of 1 troy ounce of gold stored in secure vaults in Switzerland. The gold is identifiable by unique serial numbers, purity, mass, and other details, which are accessible to token holders.

  2. Token Transferability: XAUT tokens can be transferred to any on-chain address, allowing for the digital ownership of gold to be easily moved and traded.

  3. Redemption: Holders can redeem their XAUT tokens for physical gold, which can be delivered to any address in Switzerland, or opt for Tether Gold to sell the gold in the Swiss market.

  1. Fractionalization: XAUT tokens can be fractionalized up to six decimal places, enhancing accessibility and flexibility for investors.

  2. Real-Time Reallocation: When tokens are transferred, the physical gold associated with them is reallocated in real-time to ensure each token consistently represents a share of a specific gold bar.

  3. Security: Tether Gold tokens are stored in digital wallets and are secured by multiple levels of protection, including the keys to the Swiss gold vaults held by Tether.

  1. Trading: XAUT tokens can be traded on various exchanges, such as Kraken and KuCoin, allowing investors to buy and sell digital gold easily.

  2. Use Cases: Tether Gold presents innovative use cases by combining the benefits of a gold-pegged stablecoin, offering a reliable and accessible means to diversify portfolios and hedge against market volatility.

How do I store Tether Gold?

To store Tether Gold (XAUT) tokens, you can use a variety of secure and user-friendly wallets. Here are some options:

  1. Ledger Hardware Wallet:

    • Ledger Nano S Plus: Suitable for beginners, offering a secure and easy-to-use option.
    • Ledger Nano X: Provides a Bluetooth connection for added convenience.
    • Ledger Live App: Manage your Tether Gold on the go, track your balance, and access thousands of other cryptocurrencies and NFTs.
  2. Trust Wallet:

    • Adding Tether Gold:
      • Open the Trust Wallet app.
      • Tap on the token icon and search for "Tether Gold."
      • If not listed, add it as a custom token by selecting the Ethereum network and inputting the contract address "0x4922a015c4407f87432b179bb209e125432e4a2a".
  3. Guarda Wallet:

  • Multi-Currency Support: Store and manage Tether Gold along with over 400,000 other tokens.
  • Security Features: Non-custodial, fingerprint authorization, PIN code, and backup file protection.
  • Accessibility: Available on desktop, mobile, and online platforms.

These wallets provide a secure and user-friendly environment to store and manage your Tether Gold tokens.

How to buy Tether Gold?

To buy Tether Gold (XAUT) tokens, follow these steps:

  1. Choose an Exchange: Find a reliable centralized exchange that lists Tether Gold, such as Binance or MEXC. You can also use decentralized exchanges (DEXs) like 1inch.

  2. Create an Account: Register and verify your account on the chosen exchange. This typically involves providing photo identification and setting up a means of payment.

  3. Deposit Funds: Deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Be aware of any fees associated with these methods.

  1. Buy Tether Gold: Use your deposited funds to buy Tether Gold. This can be done through an instant buy feature or by setting your own price on the spot market.

  2. Secure Your Tokens: Consider transferring your XAUT tokens to a personal crypto wallet for added security.

Additionally, you can use a crypto wallet like Trust Wallet to connect to a DEX and trade your ETH for Tether Gold.

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History of Tether Gold

Tether Gold (XAUT) is a digital token backed by physical gold, launched in January 2020. It is a project by Tether Limited, the company behind the widely used stablecoin USDT. Each XAUT token represents ownership of one fine troy ounce of gold, stored securely in Swiss vaults, meeting the Good Delivery standard of the London Bullion Market Association (LBMA).

The first recorded price of XAUT was $1,533 in March 2020, which was also the lowest price it reached. The highest price Tether Gold reached was $2,432 in May 2024. In its first year, the XAUT price closed at $1,918, which was a 125.08% increase from its opening price. The best year for Tether Gold was 2024, with an average price of $2,193 and a closing price of $2,312.

The token's unique features include the ability to be fractionated up to six decimal places, allowing investors to buy and hold gold in smaller denominations, increasing accessibility and flexibility. Additionally, holders can track the gold bars linked to their wallet address and redeem them for physical gold.

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How Tether Gold works

Tether Gold (XAUt) is a digital asset structured as a stablecoin, designed to provide holders with access to a digital representation of gold. Here's how it works:

Purchase and Ownership

When an investor or trader seeks to acquire XAUt, Tether purchases and/or assigns ownership of 1 troy ounce of physical gold per token. This gold is then stored and custodied on behalf of the customer in secure vaults, primarily located in Switzerland. The corresponding amount of tokens is then issued to the purchaser.

Token Structure

Each XAUt token represents indirect ownership of 1 troy ounce of gold. The tokens adhere to ERC-20 standards, meaning they are issued atop the Ethereum network. This allows for fractional ownership, making it possible to divide the tokens into increments as small as 0.000001 fine troy ounce of gold.

Redemption

Holders can redeem their XAUt tokens for physical gold or have it sold by TG Commodities Limited for a cash delivery instead. Redemption involves a verification process and may incur fees and minimum redemption requirements.

Security and Transparency

The gold reserves are securely stored in trusted vaults, and Tether regularly provides proof of ownership and fully-audited reports to demonstrate the legitimacy and transparency of its operations.

Trading and Liquidity

XAUt tokens can be traded on major cryptocurrency exchanges, providing liquidity and ease of use. This allows investors to buy, hold, and transfer gold ownership digitally, without the need for physical storage.

Key Features
  • Stability: Backed by physical gold, XAUt is less prone to wild price fluctuations.
  • Accessibility: Allows investors to own gold without physical possession.
  • Liquidity: Easily traded on cryptocurrency exchanges.
  • Security: Gold reserves are securely stored in trusted vaults.
  • Transparency: Regularly audited reports and proof of ownership ensure legitimacy.

Overall, Tether Gold combines the benefits of physical gold with the convenience and liquidity of digital assets, making it an attractive option for investors seeking to diversify their portfolios.

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Tether Gold's strengths

Tether Gold (XAUT) offers several strengths that make it an attractive option for investors:

  1. Stability: XAUT is backed by physical gold, which provides stability and protection against inflation. This stability is particularly important for investors seeking a hedge against market volatility.

  2. Accessibility: Tether Gold allows investors to own gold without the need for physical storage, making it more accessible and convenient than traditional gold investments. Each token represents one troy ounce of gold, and investors can easily buy and sell XAUT on major cryptocurrency exchanges.

  3. Liquidity: XAUT can be easily traded on cryptocurrency exchanges, providing investors with a liquid asset option. This liquidity is enhanced by the ability to fractionalize tokens up to six decimal places, making it more accessible to a broader range of investors.

  1. Security: The gold reserves backing XAUT are securely stored in trusted Swiss vaults, ensuring that investors' assets are protected. Additionally, Tether Gold provides regular audits and proof of ownership to maintain transparency and trust.

  2. Innovative Use Cases: XAUT combines the benefits of physical gold with the flexibility and convenience of digital assets. This fusion offers a unique investment vehicle that can be used for various purposes, such as trading, sending to other users, or simply holding for investment.

These strengths make Tether Gold an appealing option for investors seeking to diversify their portfolios and gain exposure to the gold market in a more modern and accessible way.

Tether Gold's risks

Tether Gold (XAUT) carries several risks that investors should be aware of:

  1. Regulatory Issues: The regulatory environment for cryptocurrencies and digital assets is still evolving, and Tether Gold may face challenges with regulators in certain jurisdictions. This uncertainty can impact the stability and adoption of XAUT.

  2. Market Competition: Tether Gold operates in a competitive market where other stablecoins and gold-backed assets are available. This competition can affect the demand and value of XAUT.

  3. Gold Price Fluctuations: Although Tether Gold is backed by physical gold, the price of gold can still fluctuate, which may affect the value of XAUT. This volatility can negatively impact the funds of investors in the domain.

  1. Liquidity Challenges: While Tether Gold can be easily traded on cryptocurrency exchanges, it may still face liquidity challenges if there is insufficient demand for XAUT. This can make it difficult for investors to quickly sell their tokens.

  2. Trust and Transparency: Tether Gold's legitimacy and transparency have been previously questioned by some critics, which may affect the trust and adoption of XAUT. This lack of trust can lead to reduced investment and market participation.

  3. Risk Score: Tether Gold has been given a high risk rating by InvestorsObserver due to its potential for price manipulation based on recent changes in volume and market capitalization.

These risks highlight the importance of thorough research and risk assessment before investing in Tether Gold or any other digital asset.

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Did Tether Gold raise funds?

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Tether Gold’s team

  • Paolo Ardoino: A member of Tether's leadership team, involved in managing the company behind Tether Gold.
  • Giancarlo Devasini: Part of Tether's leadership team, contributing to the management of Tether Gold.
  • Stuart Hoegner: A member of Tether's leadership team, involved in managing the company behind Tether Gold.
  • Leonardo Real: Part of Tether's leadership team, contributing to the management of Tether Gold.
  • Claudia Lagorio: A member of Tether's leadership team, involved in managing the company behind Tether Gold.
  • Darius Sit: Notable advisor to Tether Gold, founder and chief investment officer of QCP Capital.
  • Tom Shaughnessy: Notable advisor to Tether Gold, co-founder of Delphi Digital.

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The fundamental analysis assistant for crypto value investors.

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