Gold Vs Gold?

Gold Vs Gold?

By MadMaxx | Psycho Crypto | 2 Feb 2020


I knew this day would come.

A while ago, Bitfinex, the company behind the USDT and the Bitfinex exchange launched their gold backed cryptocurrency: The XAUt or Gold Tether, or Tether Gold, or whatever the heck they want to call it.

It's simply just a cryptocurrency backed by actual gold in Swiss safes.

It's supposed to allow its owners to own tiny little bits of Gold that are not usually available to buy to regular investors like you and me.

 They came up with a one trading pair, which was quite obviously the XAUt/USDT.

This was the first trading pair. I had about 50USDT that I profited from one of my BTC trades, and sure enough, I now own $50 worth of Gold. 

But then the pair I had been waiting for for quite a while just got released yesterday.

It was the XAUt/BTC.

I couldn't believe it. They actually did it!

Now we have actual digital gold to compare to Bitcoin, which has been called digital gold since forever.

I'm personally really excited about this development. I'm an avid Bitfinex user, and many of my trades happen either there or Binance. But they mostly happen there.

I'm glad to see so many good things coming out of them, despite the controversy.

I would like to see how this pair trades, and I will definitely be trading it till next week.

I might give my experience if something amazing happens. But if it's just the usual boring stuff, I won't post my experience so you won't be bored.

What do you think about this development?

How do you rate this article?

5


MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

Publish0x

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.