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Top Cryptocurrency’s backed by precious metals?
5 Gold-Backed Cryptocurrencies Compared For 2021
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PMGT would take my vote. Pegged to gold and is run by a firm though Perth Mint so it's government backed gold.
DCA all the way down. Honestly this sort of bargain doesn't happen often. If it goes to 20, it'll suck to put a bunch in now, but if it goes back up to 40 tomorrow you are going to be kicking yourself. Fundamentals haven't changed. It was a buying opportunity at 40, it's a better buying opportunity at 30. Fear is the mind killer. Be greedy when others are fearful. If you aren't in a mood to buy Bitcoin, gold and silver (and the gold stablecoins PMGT PAXG etc) are also on sale. This is a time to shovel cash into assets. If assets are still down by next paycheck, shovel more cash into assets. Diversify! Fear is a tool. Use it to buy wisely. Use it to buy solid fundamentals that other people are discarding to cover margin calls on their fashion stocks. If you are going to invest, harness fear as a tool to focus your mind on buying your future.
Paxos Gold (PAXG-USD) Tether Gold (XAUT-USD) Perth Mint Gold Token (PMGT-USD) Why not just buy the OG gold then
Perth Mint also issues gold-backed ERC-20 tokens. (PMGT). Unfortunately they are not very widely available.
“Kitco Gold is launching a gold-backed stablecoin backed by a single troy ounce of fine gold. The company has partnered with the custodian First Digital Trust, the blockchain provider Tradewind Markets, and tokenization firm Stably. Kitco's ERC20 tokens will be backed by gold reserves held in Directreserve vaults. The well-known CPA verification firm Cohen & Company will bolster the coin's attestation process. Tradewind Markets CEO "Trust and verification are hallmarks of a well-functioning market" KGLD will face projects like Tether Gold (XAUT), Digixglobal (DGX), PAX Gold (PAXG), Perth Mint Gold Token (PMGT), Gold Coin (GLC) In 2020, on a few occasions reports had shown gold-backed tokens were fetching premiums. Tradewind markets is the world's first publicly traded company to create a gold token.” -Summary provided by Sum_It_Up_Bot
Soooo PMGT have only 892.71 tokens? 👀
Right so my original point rings true. Buy all your crypto with Bitcoin Yes. You will need to use fiat to buy Bitcoin but after that you’re done Besides. Why is the stable coins based on the US dollar? Isn’t that the evil fiat? Wouldn’t it be better to use a gold based stablecoin like Pax Gold which is 1:1 with gold or PMGT which is actually backed by gold? It makes no sense but everyone loves that 10% APY
PMGT has been removed from KuCoin and tradingvi
Odd. Perth Mint's .io site defines 1 PMGT as being 1 ounce of gold (or 1 GoldPass certificate). So...2k USD tops. Dunno what's up with the Kucoin price.
Ok, so which one of you wise guys became a millionaire on PMGT?
Wtf happened to PMGT!? 😁
CGT or PMGT look far superior to DGX. The project looks transparent but some huge issues with price fluctuation for a gold backed asset? Pretty worrying. [https://coinmarketcap.com/currencies/cache-gold/](https://coinmarketcap.com/currencies/cache-gold/) vs [https://coinmarketcap.com/currencies/digix-gold-token/](https://coinmarketcap.com/currencies/digix-gold-token/) DGX has 0 Uniswap liquidity and the chart unfortunately is all over the place! Not really representing real gold price movement CGT use Gramchain which nothing can really come close to in terms of asset tracking on the blockchain. The DGX partnerships and explorer certainly provides more peace of mind than Tether gold though.
I live in Australia and there's two competing gold backed crypto tokens here ... MCAU and PMGT. Both are legit, PMGT is backed by the Perth Mint, an arm if the Western Australian government. MCAU is a gold token built with ALGO and listed on the biggest exchange here.
Idk if you're joking, so in case you're not, here are a few: * PAXG * PMGT * DGX * GLC * XAUT * Meld Gold