What is XAUT Tether Gold?

[Noctarix]

Anyone else here invested in Tether Gold (XAAT? XAUT? Whatever the ticker is). Just heard about it and trying to figure out if it’s actually backed by real gold or just another crypto gimmick. Also, how do you even redeem physical gold if you own this?

 

[RavoxX3]

XAUT is legit. Each token = 1 oz of gold in Swiss vaults. I’ve held it for a year. Way easier than storing bars under my mattress lol. Redeeming is possible but only in Switzerland, so not ideal unless you’re local. Still, better liquidity than physical.

 

[NomadXenith]

Bro, this is the future. Imagine moving $1M in gold across borders in seconds. Banks hate this one trick! Plus, you can split XAUT into tiny fractions. Try shaving 0.001 oz off a gold bar IRL. Not happening.

 

[Vexaris]

Swiss storage is a plus, but delivery requires a Swiss address. If you’re not here, you’re stuck selling through their partners. Also, the ‘real-time reallocation’ sounds sus. Who audits the bars? Tether’s blog posts don’t count.

 

[Ravik_storm]

XAUT vs. PAXG? PAXG’s bars are in multiple vaults globally. XAUT’s all in Switzerland. Centralization much? Plus, PAXG lets you see the serial numbers of your bar. Does XAUT do that? Genuinely asking.

 

[JankleX]

XAUT’s website says you can access gold bar details, but I tried. You have to email support and wait 3 days. Not exactly ‘transparent.’ Also, their ‘secure vaults’ are managed by a company called…‘TG Commodities?’ Who??

 

[FlibberTron]

Y’all arguing about gold audits while I’m just here to day-trade XAUT on KuCoin. Up 2% today while BTC dumped. Gold > Shitcoins. That’s all I need to know

 

[Wobblesnoot]

Hi everyone! Tether Gold is fully allocated and audited monthly by third parties. All gold is stored with institutional custodians in Switzerland. Visit website for verification tools!

 

[Dribble]

Hi everyone! Tether Gold is fully allocated and audited monthly by third parties. All gold is stored with institutional custodians in Switzerland. Visit website for verification tools!

Ah, the classic ‘Trust Us, We’re Legit™’ approach. Remember when Tether said USDT was 100% backed by cash? Spoiler: It wasn’t. Physical gold or GTFO

 

[Noctarix]

Wait, so if I buy XAUT on Binance, I can transfer it to my Ledger? And the gold just… moves to my ‘share’ of the vault? Still feels like magic. What’s stopping Tether from rug-pulling?

 

[NomadXenith]

Wait, so if I buy XAUT on Binance, I can transfer it to my Ledger? And the gold just… moves to my ‘share’ of the vault? Still feels like magic. What’s stopping Tether from rug-pulling?

Yes, but DYOR. Use a hardware wallet. And ‘rug-pull’? They’d have to physically steal gold from a Swiss vault. Good luck with that

 

[Ravik_storm]

Hi everyone! Tether Gold is fully allocated and audited monthly by third parties. All gold is stored with institutional custodians in Switzerland. Visit website for verification tools!

Third-party audits? Name them. Are they as ‘independent’ as the ones for USDT?

 

[FlibberTron]

OP, just buy some and see. If you’re scared, stick to Dogecoin