Topic: Coin backed by multiple assets - page 2. (Read 306 times)
You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.
I rather buy a cryptocurrency that is backed by real business than by another asset, especially american dollar. USD is not backed by anything, so how can you secure that the token will be stable? But if you create real business, that is perspective, then it generates the profit and then you have investors that are interested in buying this coin. 
The popular stablecoins are said to be backed by fiat.
USDC
GUSD
Tether was also reported to be making a stable coin for Chinese currency which is the Chinese Yuan.
For the altcoin backed up by gold, I've seen those projects before but most of them didn't find success. I don't know why.
USDC
GUSD
Tether was also reported to be making a stable coin for Chinese currency which is the Chinese Yuan.
For the altcoin backed up by gold, I've seen those projects before but most of them didn't find success. I don't know why.
I think if you are worried about the volatility of the market or a coin like bitcoint then i guess crypto market is not your type and you should look some where else, personally i really love the volatility that crypto market provides, still if you want to stay in market and no volatility on fiat backed stable coins are the option and i like usdc, while other smaller coins that claim to be backed by other commodities or assets are mostly ponzis or scam so no one is going to refer you those.
To everyone saying it would be illegal, can you expand on it? In what way would that be illegal? If there are coins that are single backed by
gold, dollar, then how would being backed by multiple assets become illegal?
gold, dollar, then how would being backed by multiple assets become illegal?
There are some projects that claim to be backed by gold, we can't conclude them so until they are made to test the wave of the market. Platincoin claims to backed by many things it will fail.
Are there any coins that are backed by multiple assets?
Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?
For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?
What would be the effects of having a crypto "in this format" ?
Backed up coins are big lie there is actually no backup these are just pretend to be so don't compare the decentralized coins with backed up shit coins. Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?
For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?
What would be the effects of having a crypto "in this format" ?
I doubt the backed by multiple digital assets will be a 100% true or legal. Some projects have the whitepaper which looks too good to be true. AFAIK, the USDCas a stable coin is backed by USD but their documentation and paperwork are more trustworthy than Tether. Btw, Aurum is also backed with gram gold, many projects have the same backup process. The majority of gold-backed projects have the origin from Switzerland and Russia, from my understating.
Are there any coins that are backed by multiple assets?
Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?
For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?
What would be the effects of having a crypto "in this format" ?
Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?
For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?
What would be the effects of having a crypto "in this format" ?
No. That wouldn't be legal. Use Tether, Paxos or TrueUSD.
might as well by crypto index. those who moans about asset backed coins seems to not understand why the coins exist in the first place
You need to read the small print for these types of cryptos. Hypothecation seems to be the main process for giving an apparent backing for a crypto, and there is often the possibility to introduce fractional reserves. Fiat currencies have no intrinsic value, and are inflationary, so if they are used to "back" a crypro, then its value is more or less guaranteed to reduce in real value.
Are there any coins that are backed by multiple assets?
Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?
For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?
What would be the effects of having a crypto "in this format" ?
Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?
For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?
What would be the effects of having a crypto "in this format" ?
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