Tether Gold XAUT Price

What is Tether Gold (XAUT)?

Tether Gold (XAUT) is a digital asset issued by Tether, backed by physical gold. Each token represents one troy ounce of gold stored in a Swiss vault. Launched in January 2020, Tether Gold aims to combine the stability of gold with the advantages of blockchain technology, offering a means for investors to gain exposure to gold without the complexities of physical ownership. As of 2024, Tether Gold has gained significant traction, trading on multiple cryptocurrency exchanges and being integrated into various digital wallets.

Who are the Founders of Tether Gold?

Tether Gold was launched by the Tether team, which is known for the creation of Tether (USDT), a stablecoin pegged to the US dollar. Tether was founded by Reeve Collins, Craig Sellars, and Brock Pierce. The team has extensive experience in the cryptocurrency and blockchain space, with Tether being one of the most widely used stablecoins globally. The founders have focused on providing transparent and efficient financial products, including Tether Gold, which aims to bridge the gap between traditional assets and the digital economy.

How does Tether Gold Work?

Tether Gold operates on the Ethereum blockchain as an ERC-20 token and also on the Tron blockchain as a TRC-20 token. Each XAUT token is fully backed by physical gold, ensuring a 1:1 ratio between tokens and gold stored in a secure vault. Users can purchase Tether Gold through various exchanges, and upon acquiring XAUT, they can redeem it for physical gold or sell it on the market. The gold backing is stored in a Swiss vault and is regularly audited to maintain transparency. This model allows users to invest in gold with the flexibility of digital assets, including easy trading and transferability.

Top Use Cases of Tether Gold

1. Hedging Against Inflation: Investors use Tether Gold to protect their wealth against inflation and currency devaluation, as gold historically retains its value over time.

2. Portfolio Diversification: Financial advisors recommend incorporating gold into investment portfolios for better risk management, and Tether Gold provides a convenient digital alternative.

3. Access to Global Markets: Tether Gold allows users worldwide to invest in gold without needing to hold physical assets, making it accessible to a broader audience.

4. Trading and Speculation: Traders can buy and sell Tether Gold on various exchanges, taking advantage of price movements in the gold market.

5. Remittances and Transfers: Tether Gold can be used for cross-border transactions, allowing users to send value securely without the volatility associated with cryptocurrencies.

How to Keep your Tether Gold Safe?

1. Use Reputable Exchanges: Only trade or hold Tether Gold on well-established, reputable cryptocurrency exchanges known for their security measures.

2. Secure Wallets: Store your Tether Gold in secure digital wallets. Hardware wallets are recommended for long-term storage, as they provide enhanced security compared to online wallets.

3. Enable Two-Factor Authentication: Always enable two-factor authentication (2FA) on your accounts to add an extra layer of security against unauthorized access.

4. Stay Informed: Keep up-to-date with Tether Gold and its market trends to make informed decisions about your investments and security practices.

5. Regularly Monitor Transactions: Regularly check your wallet and transaction history for any unusual activity, and report any discrepancies immediately.