{"id":64190,"date":"2022-10-07T12:09:24","date_gmt":"2022-10-07T06:39:24","guid":{"rendered":"https:\/\/mudrex.com\/blog\/?page_id=64190"},"modified":"2022-10-20T15:03:59","modified_gmt":"2022-10-20T09:33:59","slug":"gold-backed-cryptocurrency","status":"publish","type":"page","link":"https:\/\/mudrex.com\/blog\/glossary\/gold-backed-cryptocurrency\/","title":{"rendered":"Gold-Backed Cryptocurrency"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"64190\" class=\"elementor elementor-64190\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0b8cb28 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0b8cb28\" data-element_type=\"section\" id=\"navigation-sample-sec\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element 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class=\"elementor-section elementor-top-section elementor-element elementor-element-68e8c7b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"68e8c7b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3513f93\" data-id=\"3513f93\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eac81f6 elementor-widget elementor-widget-heading\" data-id=\"eac81f6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Gold-Backed Cryptocurrency<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1bafcd8 elementor-widget elementor-widget-text-editor\" data-id=\"1bafcd8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;A gold-backed cryptocurrency is a token whose value is pegged to the value of gold. In simple terms, these tokens are backed by actual physical gold and derive their value from gold. Whenever there is a digital gold token generated on the blockchain system, there must exist an equivalent gold deposit stored in a trusted and secured geographical location. Currently, we have digital gold currencies representative of actual gold bars. These gold currencies are ERC-20 tokens residing on the Ethereum blockchain. \\n\\nWhenever there is a market downturn, Gold is often viewed as a hedge against market panic. This is partly because the value of gold can never reach an inflated value because its price is not tied to any economic activity, unlike other investment assets. Gold-backed assets are also believed to have the same nature. The major advantage of gold-backed crypto assets is that unlike gold, they can be divided into smaller units and their transfer is relatively easy. One such example of a gold-backed cryptocurrency is Paxos Gold (PAXG) launched in 2019 by Paxos Standard. It is also an ERC-20 token operating on the Ethereum blockchain.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:4525,&quot;3&quot;:{&quot;1&quot;:0},&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;10&quot;:2,&quot;11&quot;:4,&quot;15&quot;:&quot;Calibri&quot;}\">A gold-backed cryptocurrency is a token whose value is pegged to the value of gold. In simple terms, these tokens are backed by actual physical gold and derive their value from gold. Whenever there is a digital gold token generated on the blockchain system, there must exist an equivalent gold deposit stored in a trusted and secured geographical location. Currently, we have digital gold currencies representative of actual gold bars. These gold currencies are ERC-20 tokens residing on the Ethereum blockchain. <br \/><br \/>Whenever there is a market downturn, Gold is often viewed as a hedge against market panic. This is partly because the value of gold can never reach an inflated value because its price is not tied to any economic activity, unlike other investment assets. Gold-backed assets are also believed to have the same nature. The major advantage of gold-backed crypto assets is that unlike gold, they can be divided into smaller units and their transfer is relatively easy. One such example of a gold-backed cryptocurrency is Paxos Gold (PAXG) launched in 2019 by Paxos Standard. It is also an ERC-20 token operating on the Ethereum blockchain.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Gold-Backed Cryptocurrency A gold-backed cryptocurrency is a token whose value is pegged to the value of gold. In simple terms, these tokens are backed by actual physical gold and derive their value from gold. Whenever there is a digital gold token generated on the blockchain system, there must exist an equivalent gold deposit stored in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":61790,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_eb_attr":"","footnotes":""},"_links":{"self":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/pages\/64190"}],"collection":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/comments?post=64190"}],"version-history":[{"count":8,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/pages\/64190\/revisions"}],"predecessor-version":[{"id":64801,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/pages\/64190\/revisions\/64801"}],"up":[{"embeddable":true,"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/pages\/61790"}],"wp:attachment":[{"href":"https:\/\/mudrex.com\/blog\/wp-json\/wp\/v2\/media?parent=64190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}