What is Tether Gold (XAUt)? What You Need to Know About the Gold-Backed Stablecoin

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Source: BTCHaberOriginal Title: What is Tether Gold (XAUt coin)?Original Link: Tether Gold is a stablecoin that uses physical gold as collateral. Its symbol is known as XAUt. Each XAUt represents one ounce of gold stored in Swiss vaults.Tether, known for the popular dollar-backed stablecoin USDT, offers investors the opportunity to own gold without physically purchasing it.## Who is the founder of Tether Gold?Tether, the company behind Tether Gold, was founded in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. Tether Gold was launched in 2020.## How does Tether Gold work?Tether Gold is an Ethereum-based ERC-20 token. Each XAUt is backed by one ounce of real gold stored in Swiss vaults. The gold bars stored here comply with the London Good Delivery standard.Smart algorithms are used to keep gold allocation under control. With Tether Gold, gold ownership is transferred into a digital format. This makes buying, holding, and selling gold easier for users.## What is XAUt coin?XAUt coin is the symbol of Tether Gold. Thanks to its gold-backed structure, this cryptocurrency enables people to buy physical gold in a digital environment. Just like USDT is pegged to one dollar, one XAUt is pegged to one ounce of gold.The supply of XAUt coin can vary depending on the amount of gold stored and investor interest. Thanks to its ERC-20 compatibility, it can be transferred between Ethereum-supported wallets. The reserve report is published every quarter of the year. According to the latest published report, there are 375,572 XAUt in circulation.## Where can you buy XAUt?To buy XAUt, you first need to create an account on a crypto exchange. After that, you need to complete the identity verification process for your account. To complete the purchase process, you must have a balance in your wallet. If you don’t have a balance, you can use payment methods such as bank transfer or credit card. Once you deposit your funds, you can buy any amount of the asset you want.You can use a cryptocurrency trading platform for XAUt purchases with a TL trading pair.## How to buy Tether Gold?To buy XAUt coin, just follow these steps:- On the homepage, click on "Buy/Sell" or "Markets" at the top of the screen. After this step, type XAUt or Tether Gold in the search section to proceed with your purchase.- On the Buy/Sell page, click the "Buy" button to start your transaction. At this step, if you don’t have an account, you will need to create one; if you already have one, just log in.- Enter the amount in Turkish lira that you want to use for your purchase to continue the transaction. After deciding how much you want to deposit, you can confirm the transaction. Your account balance will be checked automatically. The transaction will be completed if your balance is sufficient. If your balance is not enough, you can use the TL deposit option to add the desired amount.- In the final step, click the "Buy" button one more time to confirm the transaction. Your cryptocurrency purchase is executed immediately, and the purchased cryptocurrencies are credited to your account within a short time.