What are some popular platforms for buying and selling stablecoins backed by precious metals?

In 2017, the concept of gold-backed cryptocurrencies emerged, coinciding with Bitcoin’s association with the price of gold. These cryptocurrencies, similar to stablecoins, are backed by physical gold. By pegging a digital token to the current value of gold, these cryptocurrencies experience less volatility compared to well-known cryptocurrencies. While fiat currency-backed cryptocurrencies are gaining traction in today’s rapidly evolving landscape, gold-backed cryptocurrencies are also establishing their own notable presence among crypto investors. The alignment of Bitcoin with the price of gold in 2017 sparked interest among investors who desired an asset as valuable and stable as gold. This article presents a selection of renowned gold-backed cryptocurrencies that offer stability and can be acquired or held by investors.

here are several popular platforms for buying and selling stablecoins backed by precious metals. Some of the most well-known platforms include:

1. GoldMint: a blockchain-based platform that uses gold digital assets that are 100% backed by physical gold or exchange-traded funds (ETFs).
2. Binance: the biggest crypto exchange by volume that supports a long list of 55+ cryptocurrencies, including stablecoins such as Binance USD (BUSD), Tether (USDT), USD Coin (USDC), Dai (DAI), as well as PAX Gold (PAXG).
3. Kraken: a popular exchange that offers PAXG.
4. Bitget: an exchange that offers PAXG.
5. MEXC: an exchange that offers PAXG.
6. Bybit: a platform that offers stablecoins such as USDT and FRAX.

These platforms allow investors to buy and sell stablecoins backed by precious metals, providing a stable and secure investment option in the volatile crypto market.

What are the fees associated with buying and selling gold-backed stablecoins on different platforms.

The fees associated with buying and selling gold-backed stablecoins on different platforms can vary. Here is a breakdown of the fees mentioned in the respectives web:

1. GLC (Goldcoin): According to the search results, there are no transaction fees associated with buying gold on the GLC platform.
2. Tether Gold (XAUt): The search results mention that there are no custody fees charged for Tether Gold tokens. However, there may be fees associated with redeeming tokens to physical gold, and the fees can vary depending on the type of gold product or token.
3. PAX Gold (PAXG): According to the Paxos website, there is a small 0.02% fee charged for on-chain transactions when PAXG tokens are sent on the Ethereum network.

It’s important to note that fees can vary depending on the platform and the specific terms and conditions of each platform. It’s recommended to visit the official websites of the platforms or contact their customer support for the most up-to-date and accurate information on fees associated with buying and selling gold-backed stablecoins.