Where to buy Gold-Backed Cryptocurrencies

• Adam Cifu
• October 03, 2023

If you want to get involved in the gold-backed cryptocurrency space, you’re probably debating on where the best place to buy them is. Fortunately, we’ve got you covered. In this guide, we’ll go over the best places to buy such assets.

Gold Backed Crypto Exchange

A gold-backed crypto exchange is pretty much the best place to invest in such assets. For one, these are the platforms that generate stablecoins. They offer the most value for your investment, often providing quality-of-life trading features and wallets for storage. Some also enable you to invest anonymously.

Not only this, but these exchanges often allow you to redeem your digital gold for physical bullion. Of course, you may have to reveal your identity for this, so they can provide it to the right person.

Such platforms generally audit their holdings and make the results publicly available for trust’s sake. Some are even available 24/7 for the ultimate ability to check their legitimacy.

Specific exchanges allow you to invest in fractional amounts of gold, too, increasing the asset’s accessibility. You can put in as little or as much as you’d like – an option not possible on traditional exchanges.

Binance

Binance is the largest cryptocurrency exchange in the world regarding market cap. It offers support for thousands of cryptocurrencies, many of which being gold-backed stablecoins.

On Binance, you can fund your account with a bank or other crypto and convert nearly any asset into a stablecoin. It’s all up to you, assuming the asset is listed. The platform offers various trading features as well, making it ideal for both beginner and expert traders.

If you’re a big investor, you can earn BNB, the platform’s stablecoin, which helps cover some trading fees. Saving you money, a dedicated stablecoin works wonders for many traders.

If you’re interested in branching off from stablecoins, Binance has tons of detailed documentation on the crypto industry for you to consume. Finally, this exchange has a wallet for you to store your assets within as well. While Binance isn’t a dedicated gold-backed cryptocurrency exchange, it’s definitely a decent alternative.

Coinbase

Based in San Francisco, Coinbase is a popular mainstream cryptocurrency exchange. Because of this, it’s much more selective in its offerings. Still, the underlying support makes it a great space to buy gold backed cryptocurrencies.

Like Binance, Coinbase has a wallet for online storage. It also contains a ton of documentation for learning about stablecoins and other crypto industry staples. If you live in the UK, there’s even a physical debit card, Coinbase Card, for spending on the go.

Beginner traders have more than enough features to make an educated purchase. However, if you’ve been in the space for a while, Coinbase has a pro exchange with more information than Binance. Just note that Coinbase has more expensive trading fees than most other exchanges. It’s a reliable platform, however, which is what you’re paying for.

Gemini

Gemini is a cryptocurrency exchange founded by the Winklevoss Twins of Facebook fame. The project is regulated by the New York Department of Financial Services. It’s often undergoing bank exams and audits as well. These regulations make it a great platform for trading gold-backed cryptocurrencies.

They’re the first crypto platform to hold the SOC 1 Type 2 and SOC 2 Type 2 compliance certificates as well. Gemini even offers hardware keys and insurance coverage for all assets stored on the platform.

Gemini offers various products such as its mobile app, a custody platform, an earn space, and even its own stablecoin. That stablecoin, the Gemini Dollar, is tied to the value of USD. It can be used to trade with gold-backed stablecoins, among other assets, similar to Binance’s BNB asset.

Otherwise, signing up on Gemini is relatively easy, though it does require you to verify your identity, among other things. If you’re looking for anonymity, this isn’t the platform for you. It does list a fair amount of gold-backed cryptocurrencies, however.

Finally, just like Binance and Coinbase, Gemini has its own offering of learning documents to educate yourself further on the cryptocurrency industry.