Altcoins News
By Steven Anderson
1 / 11
Tether Gold on Ethereum and Tron Networks
2 / 11
Tether Gold Skeptics
3 / 11
Tether Gold is a new introduction from Tether. The purpose of introducing this product was to have a cryptocurrency backed by gold.
4 / 11
Tether tweeted: “In response to the growing demand for digital exposure to physical gold, we are proud to announce the launch of TetherGold (XAU₮)!
5 / 11
As the token is pegged to physical gold (XAU₮), it facilitates the security of the digital asset. As it is pegged to physical gold, it feels safe.
6 / 11
tethergold (@tethergold) on January 24, 2020, tweeted: "Tether Gold (XAU₮) has started big! XAU₮ can now be traded on @Bitfinex with U.S.
7 / 11
Sydney Ifergan, the Crypto Expert, tweeted: "There is nothing called too much gold. So, it does not matter if several other stable coins are already pegged to gold.
8 / 11
The token is built on Ethereum and Tron Networks. There is a necessity for gold-backed tokens because, at a point in time, investors might want to invest in tokens that…
9 / 11
Will Tether Gold be genuinely backed by gold as it is widely known that Tether does have not sufficient fiat back up for its USD.
10 / 11
Several investors are not entirely sure that Tether will be backed by true gold. They tend to reinstate on the widely required concept in the cryptocurrency space of:…
11 / 11
They also recollect several previous gold-backed offers that have been shut down. There is a general question on whether Tether gold will be subject to scrutiny by the SEC.
The Currency Analytics
Want the full story?