Close Menu
Metaroids

    Subscribe to the Metaroids Newsletter

    Join me as we build a network of AI and web3 pioneers.

    What's Hot

    How to Use Midjourney for Character Design

    July 31, 2024

    Mastering AI-Powered Storytelling with Midjourney: A Beginner’s Guide

    July 31, 2024

    Are You Ready for AI Movies? The Future of Filmmaking

    July 31, 2024
    X (Twitter)
    Metaroids
    • Home
    • News

      Will ChatGPT Soon Unleash Video Capabilities?

      June 15, 2023

      Can You Use AI-Generated Images for Comics and Graphic Novels?

      June 5, 2023

      Remix Culture is Coming to Movies Through Deepfake

      April 29, 2023

      NVIDIA’s Text-to-Video AI is Wild!

      April 23, 2023

      Elon Musk to Launch TruthGPT: Here’s What You Need to Know 

      April 19, 2023
    • Learn

      How to Use Midjourney for Character Design

      July 31, 2024

      Mastering AI-Powered Storytelling with Midjourney: A Beginner’s Guide

      July 31, 2024

      The Do’s and Don’ts of Using ChatGPT to Market Your Business

      November 10, 2023

      ChatGPT and Trading Patterns Learning

      October 3, 2023

      How to Buy Crypto With a Card

      September 16, 2023
    • Others
      1. Feature
      2. Press Release
      3. Opinion
      4. Lists
      5. Review
      6. View All

      X528 Exchange Set to Launch with Next-Level Security Protocols

      June 24, 2023

      The Relationship Between Microsoft and OpenAI

      May 21, 2023

      NSFW Ban on Generative AI Platforms: What, Why, and What to Do?

      May 11, 2023

      Deepfakes in Movies: The Future of Filmmaking

      May 8, 2023

      X528 Exchange Set to Launch with Next-Level Security Protocols

      June 24, 2023

      Hyped NFT Trippin’ Ape Tribe to Launch on Solana in Mid-Late May

      May 6, 2022

      Are You Ready for AI Movies? The Future of Filmmaking

      July 31, 2024

      Why Deepfakes Demand Regulatory Measures

      May 21, 2023

      ChatGPT Plus Review: Is It Worth $20/Month?

      February 16, 2023

      Microsoft’s VALL-E May Trigger an Avalanche of Cyber Crimes

      January 18, 2023

      Generate Free DeepNudes with Undress AI

      November 29, 2023

      8 Problems Every Gamer Face: How to Avoid These Issues

      November 4, 2023

      What are the Best AI Art Generators for DND (Dungeons and Dragons)

      July 5, 2023

      Best AI Virtual Girlfriend Apps for Modern Men (2023)

      July 1, 2023

      Undress AI – An Impressive Clothes Off AI Tool

      December 10, 2023

      How to Create a Character Chatbot with Yodayo

      September 16, 2023

      Promptchan AI Explored: What You Need to Know

      June 14, 2023

      Soulgen NSFW Image Generator: An In-Depth Review

      May 25, 2023

      How to Use Midjourney for Character Design

      July 31, 2024

      Mastering AI-Powered Storytelling with Midjourney: A Beginner’s Guide

      July 31, 2024

      Are You Ready for AI Movies? The Future of Filmmaking

      July 31, 2024

      Undress AI – An Impressive Clothes Off AI Tool

      December 10, 2023
    • Contact
    X (Twitter) Discord LinkedIn
    Metaroids
    Home » Top 5 Gold-Backed Cryptocurrency in 2022
    gold bullion 100g
    Feature

    Top 5 Gold-Backed Cryptocurrency in 2022

    By Evan EzquerJanuary 15, 2021Updated:January 26, 2023No Comments6 Mins Read
    Share
    Facebook Twitter LinkedIn Email Reddit Telegram

    Bitcoin has oftentimes been called digital gold due to its limited supply and ability to retain its value (for the most part). With that in mind, gold-backed cryptocurrencies may be viewed as a natural subset of the blockchain space.

    Gold is generally accepted as the world reserve currency. After all, it has been used as a medium of exchange for almost three thousand years.

    To this day, many people hedge their funds in gold when faced with extreme economic circumstances, such as financial crises or hyperinflation.

    Gold also happens to retain most of its value over time. Just look at its 100-year price chart. By the way, this is inflation-adjusted.

    historical-gold-prices-100-year-chart
    Gold Prices – 100 Year Historical Chart

    Some might say it looks volatile. No it’s not. That’s a 100-year chart my friend. You should see the 100-year dollar price chart. You’d be surprised how much it lost its original purchasing power.

    Therefore, most of us can agree that gold is better than most national currencies as a store of value.

    Table of Contents

    • 5. Kinesis (KAU)
      • Three Tokens of Kinesis
    • 4. Goldmint (GOLD)
      • Ethereum Pool
      • MINT Blockchain
    • 3. Perth Mint Gold Token (PMGT)
    • 2. Digix Gold (defunct)
    • 1. PAX Gold (PAXG)
    • Risks of Gold-backed crypto
    • The Takeaway
    • Subscribe to the Metaroids Newsletter

    When merged with cryptocurrencies, gold becomes portable, easier to transact with, more divisible, and less likely to be stolen. One might say they are a perfect match.

    5. Kinesis (KAU)

    Kinesis is a crypto ecosystem that issues both silver and gold backed tokens. These tokens are pegged to the price of precious metals and functions as stablecoins.

    Basically, the aim of the Kinesis team is to drive adoption of cryptocurrencies through transaction velocity.

    Kinesis means “movement”, which means they are all for using the currency for transactions and not simply hoarding, or what we in the crypto space like to call, HODLing.

    Besides cryptocurrencies, Kinesis has a suite of products including a debit card that provides cashback and other rewards.

    Fundamentally, the whole monetary network is designed to incentivize users to utilize the currency in everyday life. If you do so, you will receive monetary rewards.

    And they want to do this with the level of security that blockchain provides while leveraging qualities of gold as a store of value and as a stable currency.

    Three Tokens of Kinesis

    1. KAU — a stablecoin backed by physical gold; 1 KAU = 1g gold
    2. KAG — a stablecoin backed by physical silver; 1 KAG = 1oz silver
    3. KVT — the Kinesis Velocity Token is a utility token of the Kinesis ecosystem. Holders of KVT will receive 20% of the network’s transaction fees proportional to how much KVT they have.

    Both KAU and KAG can be used to redeem physical gold. Furthermore, the gold are stored in secure vaults across the world.

    4. Goldmint (GOLD)

    Unlike other gold-backed cryptocurrencies, Goldmint has its own network called the MINT—a distributed database based on blockchain technology that uses a Proof of Stake algorithm, similar to the Ethereum network.

    There are two assets in the Goldmint ecosystem:

    MNT — the utility token of the ecosystem, which is utilized in confirming GOLD transactions.

    For Goldmint stakers, their earnings are proportional to how much MNTs they hold, similar to Kinesis’ KVT.

    Don’t confuse MNTP for MNT. They are almost the same thing. MNTP stands for MNT Pre-launch, which was sold to investors in their ICO. You can convert your MNTP to MNT anytime.

    GOLD — a cryptocurreny asset backed by golds from pawn shops all over the globe. This is the lifeblood of the the Goldmint ecosystem. It can also be used as collateral for a loan.

    1 GOLD = 1 troy ounce (t oz) of 24K gold bar; 1 (t oz) = 31.1 grams

    GOLD can be used to redeem physical gold and vice versa, while retaining 100 percent of its original value through a subtle and sophisticated distribution process.

    According to their website, you can make money with GoldMint in two ways, through the Ethereum Pool and MINT Blockchain.

    Ethereum Pool

    1. Buy MNTP on exchanges
    2. Stake them in the pool and receive MNTP rewards

    MINT Blockchain

    1. Swap MNTP to MNT if you bought more than 10k of MNTP tokens
    2. Launch a masternode and receive rewards in GOLD

    3. Perth Mint Gold Token (PMGT)

    The Perth Mint Gold Token (PMGT) is the first gold backed digital token that is also backed by a state government. In addition, the physical gold are under the custody of The Perth Mint, which is Western Australia’s largest exporter.

    They distribute $18 billion worth of precious metals to more than 100 countries per year.

    By coordinating with InfiniGold, a precious metals digitization company, Perth Mint is able to issue digital tokens backed by physical gold.

    PMGT also happens to be fungible. You can convert or redeem a range of Perth Mint products like LBMA London Good Delivery gold bars. Furthermore, you can trade it against traditional gold products or convert it back to fiat.

    Being backed by the Government of Western Australia, PMGT is considered a government-guaranteed investment.

    2. Digix Gold (defunct)

    1. PAX Gold (PAXG)

    PAX Gold is the most prominent gold backed cryptocurrency in this list. It was created by Paxos, a New York-based financial institution and stablecoin issuer.

    PAXG is also an Ethereum-based token, and is a digital representation of an LBMA-accredited London Good Delivery gold bar. Owning PAXG means owning its underlying asset, which is held by Paxos Trust Company.

    1 PAXG = 1 troy ounce (t oz) of a gold bar; 1 (t oz) = 31.1 grams

    Paxos allows you to purchase fractions of a gold bar, which lowers investment minimums that open up doors for less opulent investors to participate.

    This is ultimately what separates PAXG from every most gold-backed tokens. With it, you can actually buy 0.01 t oz of gold for roughly $15 only.

    The Paxos platform also allows users to seamlessly convert their PAXG to fiat or physical gold, and vice versa.

    Risks of Gold-backed crypto

    One of cryptocurrency’s vital attributes is decentralization.

    The fact that no central authority can maliciously manipulate the system or be sabotaged, means it has no central point of failure.

    And gold backed cryptocurrencies sort of lose that attribute despite their decentralized network.

    Why? Because the value of the digital gold is inseparably linked to a physical gold. And whoever secures that gold is a point of failure.

    Even if we disregard the possibility of heists that we see in the movies, there’s still the possibility of governments seizing the vaults. This could happen in extreme cases when cryptocurrency is officially banned.

    What would the token holders do then?

    I get that this is an extreme scenario and might likely never happen. But it also could.

    The Takeaway

    Gold-backed cryptocurrency is indeed an intriguing concept. Combining two of the most robust forms of money—cryptocurrency and gold—we are likely to get the best of both worlds.

    Security, portability, ease of use, and decentralization through cryptocurrency plus the stability and store of value for gold, make a phenomenal currency.


    Join our newsletter as we build a community of AI and web3 pioneers.

    The next 3-5 years is when new industry titans will emerge, and we want you to be one of them.

    Benefits include:

    • Receive updates on the most significant trends
    • Receive crucial insights that will help you stay ahead in the tech world
    • The chance to be part of our OG community, which will have exclusive membership perks

    Subscribe to the Metaroids Newsletter

    * indicates required

    By signing up, you agree to our Privacy Policy agreement.
    gold stablecoins
    Share. Facebook Twitter LinkedIn Email Reddit Telegram
    Evan Ezquer
    • Website
    • X (Twitter)
    • LinkedIn

    Evan, the founder of Metaroids, is an OG crypto enthusiast and content creator who has explored the world of blockchain, AI, and other cutting-edge tech for nearly a decade. His ultimate goal is to build the best community on the Internet. Up until January 2023, Evan has been writing on Metaroids under the pseudonym Falkris.

    Related Posts

    X528 Exchange Set to Launch with Next-Level Security Protocols

    June 24, 2023

    The Relationship Between Microsoft and OpenAI

    May 21, 2023

    NSFW Ban on Generative AI Platforms: What, Why, and What to Do?

    May 11, 2023

    Deepfakes in Movies: The Future of Filmmaking

    May 8, 2023
    Add A Comment

    Comments are closed.

    Latest Articles
    Learn

    Mastering AI-Powered Storytelling with Midjourney: A Beginner’s Guide

    By Evan Ezquer
    Opinion

    Are You Ready for AI Movies? The Future of Filmmaking

    By Evan Ezquer
    Lists

    Generate Free DeepNudes with Undress AI

    By Guest Writer
    Metaroids
    X (Twitter)
    • Home
    • About
    • Contact
    • Our Authors
    • Advertise with us
    • Privacy Policy
    • Sitemap
    Privacy Policy and Terms of Services
    Copyright © 2025 - All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.