Top Tokenized Gold tokens by market capitalization
Tokenized Gold contains 6 coins with a total market capitalization of $1.01B and an average price change of +0.04%. They are listed in size by market capitalization.
Tokenized gold category includes tokens that are a form of stablecoin, linking its value to gold. The tokens on the blockchain symbolize ownership of physical gold, which is overseen by the issuer. Investors can gain exposure to the precious metal through tokenized gold, which eliminates the need for management fees associated with exchange-traded funds (ETFs) or the hassle of storing gold bullions.
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FAQ
What is tokenized gold?
A stablecoin called tokenized gold uses blockchain tokens to represent ownership of physical gold managed by the issuer, while pegging its price to the value of gold.
Is there a crypto backed by gold?
This particular type of digital currency, known as an ERC-20 coin, can be conveniently stored and transferred using any Ethereum wallet. The coin is backed by a ratio of 1000 GoldCoin for every ounce of gold, which significantly decreases its volatility compared to other cryptocurrencies that are not tied to a stable asset.
How does tokenized work?
Tokenization refers to the process of replacing a credit card or account number with a unique token. This token has no intrinsic value and is not linked to any specific account or person. Instead of using the customer's 16-digit primary account number (PAN), a random, personalized alphanumeric code is used in its place.