The volatile nature of cryptocurrencies like Bitcoin has left many online investors polarized. While some investors became millionaires overnight, many lost their life savings. As a result many investors are now turning to stablecoins to hedge their risk when buying cryptocurrencies.
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What Is Gold-Backed Cryptocurrency?
A Brief History
Motivations behind the Gold-Backed Digital Currency
There are many other reasons why gold is used as a tangible asset of choice to tie to a derivative asset like crypto.
Easy to Market
Superiority from Stability
Liquidity and Access with Fractional Ownership
The Bells and Whistles of Blockchain Apps
All That Glitters, Isn’t Always Gold
Low Investor Bases
The Antithesis of Decentralization
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Top Gold-backed Cryptocurrencies
Of course, our guide would be incomplete without mentioning actual examples of gold-backed cryptocurrencies.
Here’s a list of some of the most popular: