If you are just entering the crypto world, this type of currency may be easier to understand. Gold-backed cryptocurrencies are tokens whose value is tied to real gold. That is, for every token there is a certain amount of physical gold stored in a vault.
What are they for? Basically, to have the stability of gold but with the ease of using it digitally: you can send it, store it, or exchange it like any other crypto.
Unlike currencies like $BTC , these do not rise or fall so sharply, because they follow the price of gold. That's why many see them as a safer option within the crypto world.
If you are just starting, they can be a good option to understand the market without too much volatility 📊 #crypto #oro