Crypto Gold ...
Crypto Gold ...

Crypto Gold ...


 

Hello to my friends who love life and always smile despite all kinds of negativity. Today we will look at Stablecoin from a different angle with you. My aim is to understand who is threatening rather than which one is better, to reveal the current situation…

A little note; looking forward to your thoughts… Let's get started...

Stablecoin; It is usually a cryptocurrency whose value is pegged to another fiat currency or a valuable asset. These coins can be pegged to fiat currencies such as the US dollar, other cryptocurrencies, precious metals, or a combination of the three. For example; Tether, Usdc, Dai, Busd, …

Recently, statements have started to come from official institutions such as the FED and SEC. Explanations made; They state that cryptocurrencies, especially Bitcoin, are very speculative and have no counterpart. They declare that people who invest will suffer. Besides these explanations, they put stablecoins in a separate place and view them positively. Why is that … ?

99% of stablecoins are pegged to the US dollar. There are as many US dollar equivalents as the printed stablecoins. So 1 stablecoin=1 $…

Wasn't free dollar printed to prevent the economy from stopping with the covid-19 pandemic? The US dollars printed in this one year is more than the sum of all past US dollars.

Institutions such as the FED and SEC are aware that blockchain technology and its product cryptocurrencies are the economy of the future. They want to leverage stablecoins until the Central Bank Digital Currency (CBDC) kicks in. They will make stablecoins widespread. They will observe all kinds of uses. They will understand the problems in the system. Then their central bank will introduce digital currency (CBDC). I think alarm bells start to ring for all cryptocurrencies, especially stablecoins...

This is why stablecoins should not use the dollar as a counterpart. So what should be used in response…?

 

GOLD ...

 

gold

But how … ?

The only asset that has not changed as an investment throughout human history is gold. Even though economy models, currencies and technology develop, gold is always gold.

A very small part of stablecoins are used in exchange for gold. Which ones … ?

 

PAX Gold (PAXG)

paxg

The PAXG value is directly associated with the instant market value of gold. Anyone who owns PAXG becomes the owner of the gold that is controlled by the Paxos Trust Company.

1 PAXG = 1 ounce of gold.

Created as an ERC-20 token on the Ethereum platform, PAXG is an asset that can be traded around the world. It has its counterpart as London Good Delivery gold bar. Paxos corporation is an agency established and supervised by the New York State Department of Financial Services. The safes where the gold is kept have the most advanced security system in the world. Its audited by an international expert regularly confirms that the values ​​of PAXG tokens and gold are equal.

You can buy PAXG token from major exchanges in the market.

 

Tether Gold (XAUT)

xaut

 

XAUT, whose value is indexed to physical gold, works on both Ethereum and Tron blockchains.

1 XAUT = 1 ounce of gold.

Tether Gold will store the gold in Switzerland and there are no custody fees.
Tether Gold will eliminate the disadvantages of holding physical gold, combining the benefits of both physical and digital assets.

Although not as common as PAXG, you can get it from some exchanges.

At the end of my article; I think that the stablecoin pegged to gold will start to be preferred instead of the stablecoin pegged to the US dollar. It's only a matter of time… Why investors buy stablecoins… To cash out their cryptocurrencies… They want to wait for the right time to buy without loss. If they get stablecoins pegged to gold, they continue to make profits. Double Win… Must be watched closely…

As I always say, listen to everyone, decide for yourself...

Buy when everyone is selling, sell when everyone is buying...

I'm looking forward to your comments. Thanks to your comments, we can shape my next articles together. Let's stay in touch... Take care of yourself so that you and the people around you will be happy...

 

Photo by Michael Steinberg from Pexels

How do you rate this article?


11

0

Nas.A
Nas.A

“Keep your eyes on the stars, and your feet on the ground.”


Journey To The Cryptocurrency Ocean
Journey To The Cryptocurrency Ocean

"Keep your eyes on the stars, and your feet on the ground."

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.