![]() A token or coin is issued that represents a value of gold (for example 1 gram of gold equals 1 coin). Even countries are looking to issue gold-based cryptocurrencies. There is a proverbial (and literal) gold rush happening in the crypto world, with numerous variations of gold-backed tokens on offer. It’s now become a popular way to buy gold online. ![]() ![]() It was around this time there was a surge in interest with the concept of gold-backed cryptocurrencies. In 2017, the price of 1 Bitcoin reached parity with gold (by ounce in USD). With blockchain technology established as a secure accounting method, and with Bitcoin becoming better known to the general public, a new era of gold-backed digital currencies has emerged. Other attempts to make a digital gold currency have been made, but this was before the age of Bitcoin. At its peak, millions of people around the world were using this service until it was shut down. Not long after the internet went mainstream, E-Gold emerged in 1995 as the first digital currency backed entirely by gold. The idea of a digital gold currency as an alternative payment system is almost as old as the internet itself. Cryptocurrencies that aren’t gold-backed.Crypto graveyard: cancelled / closed / other.A brief history of digital gold currency.It lists every active gold-backed crypto project, as well as inactive and defunct projects. This article is the definitive guide to gold-backed cryptocurrencies. Technically any asset could be used as backing for a cryptocurrency, but gold is the most obvious choice after fiat currency. The largest stablecoin (by market capitalization) is Tether (USDT), where 1 Tether token is in theory backed by 1 USD. With the token price pegged to the current gold price, there is less price volatility compared to Bitcoin or other altcoins. Gold-backed cryptocurrency is a crypto stablecoin where each token is backed with physical gold.
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