Legitimate Gold-backed tokens?

[Abiky]

Besides Digix Gold tokens on the ETH blockchain, what other gold-backed tokens are legitimate on the crypto/Blockchain space? I've stumbled across many in the past, only to be a complete scam. Regulation is necessary here in order to provide investors with legitimate tokens that are backed by Gold powered by Blockchain technology. If renowned companies start offering Gold services on the Blockchain, it would've been truly revolutionary.
I'd like to know of other options to invest in Gold without actually owning it. Redeeming virtual Gold tokens to cash or physical bullion all using Blockchain tech, could prove to be extremely convenient for long term investors. Imagine being able to sell your Gold-backed token to physical Gold right from the Blockchain without middleman. It'll truly revolutionize the Gold industry. The middleman will only be responsible for shipping out the physical bullion, but transactions will be settled on-chain.

If you happen to know of any other gold-backed tokens besides Digix that are legitimate, please feel free to share it with me here. Any help, suggestions, or recommendations will be greatly appreciated. Thanks in advance.

[blockman]

How about the gold project that we have in the forum? It's a stable coin which said backed up by gold. I haven't gone through the whole thing but they are one of the most active gold-backed project.
(https://bitcointalk.org/index.php?topic=5161544.0)

[nigelk]

There are tether gold, maybe it could be legitimate. Anyway, im not sure that we could fully trust in any gold backed project. So hard to proof it

[bgaf]

How about the gold project that we have in the forum? It's a stable coin which said backed up by gold. I haven't gone through the whole thing but they are one of the most active gold-backed project.
(https://bitcointalk.org/index.php?topic=5161544.0)

Ive seen this project for a long time and running for more than a year already and their token is listed on cmc. I think it is legit, when I visited the site, there are conversion of gold grams to digital gold happening but Im not sure if they can really get the physical grams of gold if they avail or the stock keeping some where under the hood of gold location or storage.

[masterrex]

Aside from DIGIX, there is another platform that showing great potential, and it was the GOLD TOKEN issued and operated by DIGITAL GOLD LTD. a company incorporated in St. Vincent and Grenadines. each token that was minted is certified backed with 1 gram of pure Physical Gold 99.99 purity. and It was also audited by ChainSecurity one of the world's best in blockchain security. The GOLD TOKEN is also promoting transparency thats why anyone can access the real-time Gold deposit data at BulleonStar Vault base in Singapore. for more information just visit https://gold.storage/en/audits  anyone can confirm the Physical Gold Deposit including its serial numbers of each PAMP Gold Cast Bars. GOLD TOKEN is an Ethereum ERC20 standard token and It's currently traded in the following exchanges:

https://gold.storage/en/market


https://cryptex.net
 

https://livecoin.net


https://www.bitforex.com


https://catex.io


https://coinsbit.io


https://coinmarketcap.com/currencies/digital-gold/

[blockman]

How about the gold project that we have in the forum? It's a stable coin which said backed up by gold. I haven't gone through the whole thing but they are one of the most active gold-backed project.
(https://bitcointalk.org/index.php?topic=5161544.0)

Ive seen this project for a long time and running for more than a year already and their token is listed on cmc. I think it is legit, when I visited the site, there are conversion of gold grams to digital gold happening but Im not sure if they can really get the physical grams of gold if they avail or the stock keeping some where under the hood of gold location or storage.

Yes, they are the 'digital gold'. Low in rankings but they have a higher volume than those altcoins that are in a higher rank.
(https://coinmarketcap.com/currencies/digital-gold/)

[FLHippy]

There were many attempts to create gold backed tokens, but as you know the biggest problem is to bring trust into this industry. Only company that achieved this goal is Paxos and its token Pax gold.

[Yaunfitda]

So far this is the only project that I have seen in this community that somewhat legit as far as being a gold backup coin or token. And as far as I know, it's already been tradeable on exchanges and those signature campaigns have been running for a year or more than. But I haven't follow the price though, if it has been pump or not. But definitely, this project should be on anyone's radar.

How about the gold project that we have in the forum? It's a stable coin which said backed up by gold. I haven't gone through the whole thing but they are one of the most active gold-backed project.
(https://bitcointalk.org/index.php?topic=5161544.0)

[blue Snow]

There were many attempts to create gold backed tokens, but as you know the biggest problem is to bring trust into this industry. Only company that achieved this goal is Paxos and its token Pax gold.

you can check and audit online https://www.bullionstar.com/myaccount/audit with vault account number 17081 this is certificate https://gold.storage/vault.pdf.

1 Digital Gold (GOLD) = 1 Gram,

Different with Paxos, 1 PAXG = 1 troy ounce ((31,1035 gram) and PAXG was audit from certik https://certik.io/blog/clients-&-partners/paxos-paxg-formally-verified-by-certik

[mindrust]

The only gold-backed tokens I trust, is the physical gold coins I keep at my home.

The rest are either full or semi scams.

These so called "gold-backed" shit are no different. Probably even worse than what your bank offers.

[Gorosden]

This topic have been discussed many times before, there are no real tokens that are backed by real gold, it's all about faking a useless tokens use case, beware were you put your money, all those gold backed tokens can't even provide proof

[bigcash2011]

Besides Digix Gold tokens on the ETH blockchain, what other gold-backed tokens are legitimate on the crypto/Blockchain space? I've stumbled across many in the past, only to be a complete scam. Regulation is necessary here in order to provide investors with legitimate tokens that are backed by Gold powered by Blockchain technology. If renowned companies start offering Gold services on the Blockchain, it would've been truly revolutionary.
I'd like to know of other options to invest in Gold without actually owning it. Redeeming virtual Gold tokens to cash or physical bullion all using Blockchain tech, could prove to be extremely convenient for long term investors. Imagine being able to sell your Gold-backed token to physical Gold right from the Blockchain without middleman. It'll truly revolutionize the Gold industry. The middleman will only be responsible for shipping out the physical bullion, but transactions will be settled on-chain.

If you happen to know of any other gold-backed tokens besides Digix that are legitimate, please feel free to share it with me here. Any help, suggestions, or recommendations will be greatly appreciated. Thanks in advance.

There was a project called pgpay or puregoldpay on this forum that claimed to be in this business since 2014 and they even have physical atms in Singapore, they sold their tokens for 45 cents during IEO but now the price is very low which is strange for a gold backed project. They blame lockdowns and closure of businesses for no or slow revenue, lets see if they come out legit or not.

[Pffrt]

This topic have been discussed many times before, there are no real tokens that are backed by real gold, it's all about faking a useless tokens use case, beware were you put your money, all those gold backed tokens can't even provide proof

You might be partially true. There were raid in such a project and found they hold no gold at all while they used to say token is backed by gold. However, I think GOLD stablecoin is a good one although I don't have any proof at all. The project seems to be good and serious with their business.

[Febo]

Legitimate Gold-backed tokens?

https://www.xaurum.org/en/home  Xaurum was one of first. I have no ideas how good they are. But they exist for 4 years or more.

[tycsols]

Besides Digix Gold tokens on the ETH blockchain, what other gold-backed tokens are legitimate on the crypto/Blockchain space? I've stumbled across many in the past, only to be a complete scam. Regulation is necessary here in order to provide investors with legitimate tokens that are backed by Gold powered by Blockchain technology. If renowned companies start offering Gold services on the Blockchain, it would've been truly revolutionary.
I'd like to know of other options to invest in Gold without actually owning it. Redeeming virtual Gold tokens to cash or physical bullion all using Blockchain tech, could prove to be extremely convenient for long term investors. Imagine being able to sell your Gold-backed token to physical Gold right from the Blockchain without middleman. It'll truly revolutionize the Gold industry. The middleman will only be responsible for shipping out the physical bullion, but transactions will be settled on-chain.

If you happen to know of any other gold-backed tokens besides Digix that are legitimate, please feel free to share it with me here. Any help, suggestions, or recommendations will be greatly appreciated. Thanks in advance.

I know of pax gold with symbol of paxg, I am very confident about this because this group also has a stable coin backed by fiat called pax plus other products and they are listed and offered at big and reputed crypto platforms so I have no doubt about their legitimacy.

[hatshepsut93]

Besides Digix Gold tokens on the ETH blockchain, what other gold-backed tokens are legitimate on the crypto/Blockchain space? I've stumbled across many in the past, only to be a complete scam. Regulation is necessary here in order to provide investors with legitimate tokens that are backed by Gold powered by Blockchain technology. If renowned companies start offering Gold services on the Blockchain, it would've been truly revolutionary.

I don't see anything revolutionary about it, it's just a custodian that holds your gold, and crypto exists to remove the middleman, so bringing them back just defeats the purpose of crypto. We already see how companies that manage stablecoins demand KYC from certain users and block accounts, if a big company was managing gold-backed tokens, they would be doing exactly the same. You are saying that regulation is necessary, but regulation would make this gold-backed token no different from traditional ownership of gold. Blockchain doesn't magically make everything decentralized or secure, every other aspect of the system must be decentralized too.

[AmoreJaz]

The only gold-backed tokens I trust, is the physical gold coins I keep at my home.

The rest are either full or semi scams.

These so called "gold-backed" shit are no different. Probably even worse than what your bank offers.

im with you here. better slowly acquiring physical gold rather than trust your money to a gold-backed crypto project. the chance of them disappearing is always there. so you have no peace of mind with that kind of investment. even if the project is audited by 3rd party, we still dont know the absolute truth behind its assets and the future plans of their team.

[Gab20]

Legitimate Gold-backed tokens?

https://www.xaurum.org/en/home  Xaurum was one of first. I have no ideas how good they are. But they exist for 4 years or more.

If they have existed for this long, it means that they are worth looking at as one of the successful ones, for four years in the crypto space is never.
I checked the website and i discovered they are very much active and alive.
I also went further to check xaurum on CMC, I have a good volume, but the only issue is that the price is not in correlation with the real gold price in the global gold market.
The website says that 1000 xaurum is equivalent to 1g of gold and 1g of pure gold as at today is around $55 dollars, but after calculating that of xaurum, it is around $40. The margin is too much.

[ryzaadit]

but Im not sure if they can really get the physical grams of gold if they avail or the stock keeping some where under the hood of gold location or storage.

I asking this question to their thread a few months ago.

They said: you can Exchanging/claiming "DIGITAL GOLD' to "PHYSICAL GOLD" but the process was to complex, long and hard. Also, the fee to claiming the physical gold was to high. Well, the good things about them, their price token was really stable when we comparing a shit project who have a same idea but can't really prove it the audit token was really backup by gold.

[blockman]

So far this is the only project that I have seen in this community that somewhat legit as far as being a gold backup coin or token. And as far as I know, it's already been tradeable on exchanges and those signature campaigns have been running for a year or more than. But I haven't follow the price though, if it has been pump or not. But definitely, this project should be on anyone's radar.

How about the gold project that we have in the forum? It's a stable coin which said backed up by gold. I haven't gone through the whole thing but they are one of the most active gold-backed project.
(https://bitcointalk.org/index.php?topic=5161544.0)

Yes, it is on an exchange and they have a great volume of nearly $3M in their 24-hour volume. That's actually a lot of volume but we will never know how long that volume shall remain.
(https://coinmarketcap.com/currencies/digital-gold/markets)