The BTSE team is pleased to announce that you can now trade Tether Gold on spot markets on the BTSE Exchange.
This is an exciting addition to the BTSE asset stable as it strengthens our working collaboration with Bitfinex, the sister firm of the world’s largest stablecoin Tether and Tether Gold. Here’s a quick breakdown of what Tether Gold is for those who may not be too familiar with this interesting new arrival to the altcoin world.
What is Tether Gold?
Tether Gold is a digital token that is backed by actual gold. One full XAUt token represents one troy fine ounce of gold on a London Good Delivery bar. The XAUt token can be transferred to any on-chain address from the purchaser’s Tether wallet after purchase.
BTSE users can now trade Tether Gold on our exchange, but those interested in getting more involved can easily do so by holding XAUt as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain.
With the current macro environment, the safe-haven of gold will be something that many investors are looking at over the coming days and weeks. XAUt token holders can instantly locate the details of their very own physical gold by using the Look-up website.
Why hold gold on the blockchain?
Holding any physical asset on the blockchain allows individuals to enjoy the benefits of both physical and digital assets. Holding gold through XAUt tokens is particularly advantageous as it reduces the drawbacks associated with physical gold, such as the high storage costs and limited accessibility.
XAUt has the potential to be a very popular token, especially in light of the volatility in global markets. The BTSE team is very excited about this addition, and we hope that it will be the first of many collaborations with Bitfinex.
Happy trading everybody!
Our aim is to create a platform that offers you the most enjoyable trading experience. If you have questions or suggestions, please don’t hesitate to reach out to us at firstname.lastname@example.org or DM us on Twitter: @BTSEcom.