XAUt Tether Gold is a cryptocurrency that is backed by physical gold. Each XAUt token represents one troy ounce of gold, which is stored in a secure vault. This means that XAUt is a stablecoin, as its value is directly tied to the price of gold. The advantage of XAUt is that it allows investors to own gold without the need for physical storage or transportation. Additionally, XAUt can be easily traded on cryptocurrency exchanges, making it a convenient way to invest in gold. XAUt was launched by Tether, a company that is known for its stablecoin USDT, which is pegged to the US dollar. Tether has a reputation for being controversial, as there have been concerns about the company's transparency and the backing of its stablecoins. However, Tether has stated that XAUt is fully backed by physical gold, and the company regularly publishes reports on the amount of gold held in its vaults. XAUt has gained popularity among cryptocurrency investors who are looking for a stable investment option that is not tied to traditional fiat currencies. |