PAXG is another liquid gold-backed asset. XAUT is the “younger brother” of Tether - the most prominent trusted stablecoin backed by the US dollar which is ranking #3 among all other cryptocurrencies by market cap. Tether Gold token exists on Ethereum and TRON blockchain. Each of the currencies is backed by the real gold bars (1 troy ounce for 1 XAUT or 1 PAXG) securely stored in the vaults. These are stablecoins whose value is always equal to the price of a troy ounce of gold. Two of the most liquid digital currencies of this kind are Tether Gold (XAUT) and PAX Gold (PAXG). Here are two ways to profit from gold or silver without actually buying it: 1. Buying real metal may be a little cumbersome: you have to deal with shipping, storage, and it’s less liquid than digital assets: it’s hard to quickly sell it. The thing is that if you want to profit from metal’s price movement, you don’t have to buy physical gold with Bitcoin or other currency.
Preserving funds in times of economic uncertainty.What goal do you want to achieve when you buy gold with Bitcoin? Here’s a shortlist of the possible purposes: In what ways do I buy precious metals with Bitcoin? Image: Businessing Magazine
#Crypto bar gold how to#
In this article, we will run through the ways to buy gold with Bitcoin, how to buy silver with Bitcoin, and how to choose between the wide variety of investment options. Your choice will depend on your goals: whether you have a long-term or a short-term investment strategy, how much time you’re ready to spend and effort to make, and whether you want to enjoy a shining piece of matter in your hands. Today, there are many ways to profit from the precious metals’ price movement: buying gold-backed crypto stablecoins, gold or silver exchange-traded funds (ETFs), buying physical coins and bars, and others. When we say “buy gold”, we don’t necessarily mean buying a physical bar of metal and putting it in the safe.
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