New Cryptocurrency Backed By Gold at Breaking News

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New Cryptocurrency Backed By Gold, Keiser added that bitcoin is a superior form of currency. This means the cryptocurrency’s value is often equivalent to the value of the underlying gold backing it, and that an entity is behind the cryptocurrency ensuring there is gold in reserve. The latter is fractional, which means that one coin is worth a fraction of 1 gram of gold.

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One example of a commodity backed stablecoin is the new gold secured currency(gsx). Pax gold token by paxos is backed by one fine troy ounce (t oz) of a 400 oz london good. This means the cryptocurrency’s value is often equivalent to the value of the underlying gold backing it, and that an entity is behind the cryptocurrency ensuring there is gold in reserve.

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But as many gold bugs turn to these innovative alternatives, many are unsure where to start. After a period of absence, rt’s max keiser is back and his commentary on the current state of the global economy is as colorful as ever. Released by dignity corporation, dignity gold has now entered the. There is a new cryptocurrency being added to the mix. The largest stablecoin (by market capitalization) is tether (usdt), where 1 tether token is in theory backed.