In 2017 the price of bitcoin reached parity with gold (by ounce) which grabbed the attention of gold investors around the world. With the current crypto mania there has been a surge in interest with the concept of gold-backed cryptocurrencies.
A brief history of digital gold currency
The idea of a gold digital currency has always had an appeal for those looking for an alternative payment system. Not long after the internet went mainstream E-Gold emerged as first digital currency backed entirely by gold in 1995. At its peak, millions of people around the world were using this service until it was shut down.
Other attempts to make a digital gold currency were also made, but this was before the age of Bitcoin and blockchain technology.
Now with blockchain technology established as a secure accounting method, and with Bitcoin becoming better known to the general public, a new era of gold-backed cryptocurrency is emerging. There is a proverbial (and literal) gold rush happening now in the crypto world, and even countries are looking to issue their own gold-based cryptocurrency.
The basic concept is certainly compelling. A token or coin is issued that represents a value of gold (for example 1 gram of gold equals 1 coin). The gram of gold is stored by a trusted custodian (preferably third party), and can be traded with other coin holders.
At a minimum the price of the coin will always equal the current gold rate. If the cryptocurrency becomes popular then the price of the coin can potentially increase in value, greater than the value of gold. If the cryptocurrency doesn’t take off then the value remains as the value of the gram of gold. It’s like a built-in stop-loss.
There of course many risks as well. While the blockchain accounts for the coins, accounting for physical stored gold is another matter. When evaluating such tokens look for who actually owns the gold and how it is stored. In this regard our online gold partner BullionVault as a good example of accountable gold storage. When evaluating a gold crypto make sure that you own the gold.
Buy gold with bitcoin
If you are just looking to buy gold with bitcoin, the easiest and safest way is to open an account at Vaultoro. This is a gold vaulting service which allows you to buy and sell gold with bitcoin and other altcoins. The gold is 100% your legal property, and is fully insured in Swiss vaults. Vaultoro is ideal if you prefer to park your crypto gains in gold instead of cashing out into a fiat currency. Read more about Vaultoro.
Gold-Backed Cryptocurrency Directory
This is a current list of gold-backed cryptocurrency. This is a directory and not an editorial endorsement, so research all of the alternatives before investing. Some of the cryptocurrencies listed here don’t detail how they store and account for gold either, so proceed with caution. Any questions regarding each coin should be referred to their social media channel or forum listing.
Since this post was first published there have been new coins added to the list and some are now ready to buy. The list is now sorted in order of availability.
A Pre-ICO (or ICO Pre Sale) is a token sale that is offered before the official ICO campaign or crowdsale goes live. There are fewer tokens offered at this point, and they are often sold at a discount which helps the project pay for the expenses of the launch.
Name: Ekon (EKG)
Ekon is a stable coin developed by Eidoo that is 100% backed by physical gold. Each Ekon token corresponds to 1 gram of gold 999. Ekon is an ERC20 token and you will be able to collect them within the Eidoo wallet.
Name: Golden Currency (PGCT)
Golden Currency plans to be first global private currency on blockchain, both paper and electronic, 100% backed by gold. Pre-ICO on until July 2018.
Name: GoldFinX (GiX)
GoldFinX (GFX) provides financing to Artisanal Small Gold Mines (ASGM) worldwide and gets in exchange of share of their production. The first production of gold will be delivered by Q2 2019, and will accumulate as well as stored indefinitely to back the value of the GiX coin.
Pre-sale starts July 1st, 2018 and ends no later than December 31st, 2018. The GiX ICO launches in January 2019.
Name: Gold Vein Token (CVT)
GoldVein is a blockchain platform for investment in gold mining. The gold value of the token increases in value depending on the amount of gold mined.
The Pre-ICO runs from April-June 2018, ICO August-September 2018, and tokens will be placed on exchanges December 2018.
For any issues please contact the founder of the project Mikhail Pimulin by email pimulinm [at] gmail [dot] com, or any messenger +79100085987.
Name: AgAu (?)
Location: Zug, Switzerland.
AgAu gets its name from the symbol for the chemical elements argentum, for silver, and aurum, for gold. AgAu is fully decentralised ownership of cryptocurrencies 100% backed by physical and allocated gold and silver. 1 AgAu Gold token = 1 g of LBMA Gold, and 1 AgAu Silver token = 1 g of LBMA Silver.
Initial Coin Offering (ICO)
An Initial Coin Offering (ICO) is how a new cryptocurrency raises money for its startup. A token is given a set rate, and there maybe bonuses for early buyers. It is rare to be able to buy ICO tokens with fiat currency, so you will need a stash of Bitcoin or Ethereum first.
Location: Dublin, Ireland.
The Airgead Coin allows you to merge precious metals within one cryptocoin. Along with gold, you can merge silver, platinum, and palladium coins/bars as a basis for a worldwide currency. You can merge any amount of precious metals into a single Airgead Coin, and you can actually see what your Airgead Coin is merged with.
The ICO is on until December, 2018.
Name: Cyronium (CYRO)
Location: Jakarta, Indonesia.
Cyronium is a gold-backed crypto from Indonesia. Every 1 CYRO token has a guarantee of 1 Cyronium coin. 1 Cyronium coin consists of 20 grams of 99% gold LBMA (London Bullion Market Association). Where Cyronium differ from other offerings is they are offering the option of physical coins that will represent the CYRO token. If you elect to take the physical coin the CYRO token will be destroyed to avoid duplication. The coin will be shipped along with the certificate to the investor’s address. Physical gold will be held in vaults in Singapore.
ICO will be conducted on May 26, 2018. After ICO, Cyronium can be traded in Santara marketplace (www.santara.co.id).
Name: DRCG coin (DRCG)
The DRCG coin ICO proceeds go into expanding operations and to meet mining costs of a gold mining operation in the Democratic Republic of Congo. Members who purchase or use the DRC Gold Coin will be rewarded with gold or any other means of their choice as outlined. The mining operations are managed by Emmax Systems Inc. which is an affiliate of CryptoXL Limited.
The final ICO sale is on until 31 May, 2019.
Name: EAU-COIN (GELT)
Location: Gothenburg, Sweden.
EAU-COIN (pronounced “O-COIN”) is a gold-backed crypto token on an Ethereum-based blockchain smart contract. EAU-COIN is directly backed by real gold assets 100% owned by EAU-COIN with no liens or leverage. The tokens are issued in rounds with a built-in 20% bonus for the holders. At least 2 rounds will be issued every year of a fixed USD value related to fixed in ground gold assets that are being mined out.
The EAU-COIN ICO begins in August, 2018.
Name: GOLDFUND (GFUN)
GOLDFUND (GFUN) helps near term precious metals producers get into production by providing the capital they need. In return GOLDFUND is rewarded with part of the production, and made available for purchase with purchased GFUN coins on the ZOMIA Gold Exchange.
ICO runs from 1- 31 December, 2018.
Name: Jinbi (JNB)
Location: London, UK.
Jinbi is a UK and Belarus token backed by an increasing physical gold floor from the production of gold by the mining partner. Jinbi will create liquidity events following production milestones whereby each coin holder will receive a dividend payable in physical gold or Jinbi Token (JNB). All other funds are reinvested back into Jinbi to continue further gold production.
Jinbi sale has been extended until latest 31st December 2018.
Name: Karatcoin (KCG)
Location: London, UK.
Karatcoin is a platform to trade gold certificates, exchange Karatcoin tokens, as well as save and exchange currency using gold cards. KCG (GOLD Token) is the token used in the Karat Blockchain. It represents 1 gram of 99.99% LBMA standard gold secured in safehouse vaults.
The ICO closes 11th November, 2018.
Name: Kinesis (KAU)
Location: Cayman Islands.
Each Kinesis coin represents physical precious metal allocated on a 1:1 basis (1g gold = 1 KAU). Bullion is purchased simultaneously when a Kinesis coin is minted and each coin has bullion directly allocated to it from the moment of being minted into the Kinesis system, for the life of the coin.
Initial Token Offering (ITO) runs until March, 2019.
Sudan Gold Coin
Name: Sudan Gold Coin (SGC)
Location: Dubai, U.A.E.
Sudan Gold Coin is a gold mining business with blockchain technologies that offers a fair distribution of the profit. Each token at the beginning will be tied to the 0.05g of gold per token. More gold is added to each token as the gold is physically mined. The mine is located in a study area of over 8000 Km2 in Northern State of Sudan. The Dubai SG mining Co controls 100% of the Sudanese mining company.
ICO ends 30 January, 2019.
Name: Tiberius Coin (TCX)
Location: Zug, Switzerland.
Tiberius Coin is an asset-backed token made up of an alloy of metals, including gold. The metal is held and
audited by independent warehouses, and available for delivery upon request. Every token includes:
Technology metals: 25g copper, 5g tin
Electric Vehicle metals: 25g aluminium, 6g nickel, 1g cobalt
Stability metals: 3mg gold, 1.5mg platinum
The Initial Metals Sale (IMS) ends 21 October, and is tradable on LATOKEN on 1 November, 2018.
Once the ICO is over the token will then become available for public exchange on a set date. There are hundreds of cryptocurrency exchanges, but not all exchanges list all tokens. The token website will list which exchange you can buy and sell at, and you will most likely end up opening accounts at a few different exchanges.
This list is all the gold-backed cryptocurrencies that have gone on to graduate to the open market.
Name: AurumCoin (AU)
Each AurumCoin is backed with 0.75 grams of gold, yet AurumCoin’s par value will always be worth 1 gram of pure gold. When you buy an AurumCoin you buy a digital proof for 1 gram of gold stored and insured in professional high-security gold vaults in Zurich, London, New York, Toronto, Singapore, and Hong Kong.
Name: Darico (DEC)
Location: Zug, Switzerland.
Darico is a gold-hedged cryptocurrency investment token backed by gold, bitcoin and ethereum. Each token is comprised of 55% bitcoin, 35% gold, and 10% ether. The gold sits in custodial vaults, and there is an app wallet and a Darico debit card.
Name: DigixGlobal (DGX and DGD)
Location: 32 Carpenter Street, Singapore.
DigixGlobal has created two types of Ethereum tokens – each with unique properties. DGX Digix Gold Token represents 1 gram of 99.99% LMBA standard gold, secured in Safehouse vaults. Digix DAO Tokens (DGD) is used to claim quarterly rewards based on the total DGX collected through transaction fees. The DGD value fluctuates based on exchange rates and market forces.
Name: Egold (EGD)
Location: London, UK
Egold (not related to E-gold) runs on a blockchain ledger and works through a digitized cryptoasset called GOLD whose cryptocurrency value is based on physical gold. Egold uses its own blockchain and altcoin, called EGD, for GOLD transactions.
Exchanges with EGD
HitBTC (from October 15)
Name: GoldMint (MNTP)
Location: Moscow, Russia.
GoldMint is blockchain based platform which operates with 100% gold-backed cryptoassets, either gold or exchange-traded funds (ETF). The GoldMint platform is built on a private blockchain, based on the Graphene technology. There is no mention of where the gold is stored, or indeed what percentage is physical gold.
Name: GramGold Coin (GGC)
GramGold Coin is pegged to 1 gram of investment grade gold. Every single GGC is issued out of gold already purchased and held by vault service providers instead of crowdfunding. This process is called an ‘Initial Coin Circulation’ (“ICC”), instead of an ‘Initial Coin Offering’ (“ICO”).
Exchanges with GGC
Name: HelloGold (HGT)
HelloGold users can buy and store gold which can be converted to a Gold Backed Token (Goldx), which is backed by 1 gram of gold. The gold is held and accounted for in a partnering vault in Singapore, and it is certified as compliant with the Shari’ah Standard on by the World Gold Council.
Name: KaratGold (KBC)
Location: Stuttgart, Germany.
Each coin represents a certain weight of gold and can be exchanged into physical gold in the form of CashGold. On 4 July, 2019 100 KBC will equal 1g of gold.
Exchanges with KBC
Name: OneGram Coin (OGC)
Location: 2E MO17 East Side, DAFZ, Dubai, United Arab Emirates.
Each OneGram Coin (OGC) is backed by one gram of gold and is Sharia-compliant. Gold is held in vaults located within Dubai Airport’s high-security compound, and managed by OneGram’s partner GoldGuard – a Dubai-based gold trading company.
There is a maximum of 12,400,786 OGC available, and unsold coins will be permanently destroyed after the Initial Coin Offering.
OneGram is listed on its own virtual exchange at Huulk.
Name: Orocrypt (OCG)
Location: Zurich, Switzerland.
Orocrypt is a company that digitises assets. It already has a working token, the OCG gold-backed token, each representing 30 g of LBMA compliant bullion gold and stored in Liechtenstein, Switzerland and The Cayman Islands. The OCG token represents ownership of 30 grams of gold, therefore it always has to be 100% backed by bullion gold. You can see the vaulted gold Stock Report in the News section of the website. The OCG Smart Contract was audited by Icorating.com.
Name: Pecunio (PGX)
Location: Dubai, United Arab Emirates.
Pecunio is a one-stop-shop for cryptocurrencies: A cryptofund, a cryptocard and an exchange. Pecunio’s gold-backed token PGX represents exactly 1 gram of 999.9 fine gold (segregated, unallocated) from LBMA approved refineries.
Name: PureGold (PGT and PGG)
Puregold is a payment gateway using Gold backed cryptocurrency. They offer two digital tokens called PGT for transactions; and PGG which is a cryptoasset backed by physical gold.
The company uses physical gold (of 999.9 quality) as its security. Puregold’s gold reserves equal or exceed its circulated amounts of PGG gold-backed tokens. The physical gold is stored by a third party in a decentralized storage unit that Puregold stores investment grade gold, gold jewellery, small ingots (up to 100 grams) and coins.
Puregold is part of Puregold.sg, which is a private mint in Singapore with its own in-house factory producing gold and bars.
Exchanges with PGT
The Midas Touch Gold
Name: The Midas Touch Gold (TMTG)
Location: Seoul, South Korea.
The TMTG Project is composed of three main elements:
TMTG Tokens:TMTG coins is as a utility token, are used only as a means of purchasing virtual currency on the DGE platform.
MDG Tokens: MDG is a token that is only tradable on the DGE platform which is pegged to 1g of gold as a certificate. MDG Tokens can be purchased on the DGE Platform with TMTG Tokens.
Digital Gold Exchange (DGE): DGE is an online exchange where TMTG tokens can be used to purchase MDG Tokens or real gold.
Exchanges with TMTG
Name: Xaurum (XAUR)
Location: Crystal Palace, BTC City, Ameriška ulica 8, Ljubljana, Slovenia
Xaurum is coined by exchanging the mined value for physical gold, stored as the CommonWealth gold reserves. It was first coined on a PoS Blackcoin blockchain, and has transitioned to Ethereum.
Exchanges with XAUR
Upcoming Exchange Listings
These are the gold-backed cryptocurrencies that have finished their ICO and will soon be listed on exchanges.
Name: AurusGold (AWG)
Location: North Brabant, The Netherlands.
AurusGold is fully-allocated, gold-backed cryptocurrency. The Aurus asset tokenising protocol is used by top European gold traders to tokenise 99.99% LBMA approved, fully audited gold under the AurusGold (AWG) currency.
Available Q2 2018.
Name: Flashmoni (OZT)
Location: London, UK.
Flashmoni is a blockchain-powered fintech company that offers a physical gold-pegged cryptocurrency, innovative payment solutions and a smart contract-based advertising solution. In addition to using gold to back their tokens, they also plan to raise funds to directly operate mines to “improve miner’s working conditions, their lives and of the communities where they live.”
There are two gold-backed tokens: OZG which is a private token pegged with 24 K gold stored in Dubai’s DMCC Free Zone and in Singapore. 1 OZG = 1 grain of gold (1 grain is approx 0.065 gram). OZT is the public token tradable on crypto exchanges and OZTs core value is 1/20th of the OZG.
The Flashmoni ICO has ended and is pending token distribution.
Name: GoldCrypto (AUX)
AuX tokens by GoldCrypto are a cryptocurrency backed by physical gold. Currently, each 750 AuX Tokens will be backed by one ounce of gold (approximately US$1.70 per AuX Token). This gold backing per AuX Token then progressively increases.
GoldCrypto ICO finished on August 31, 2018.
The goldcrypto.io website now redirects to goldsecure.io.
Name: Goldma (GMA)
Goldma (Gold Mining Assets) is described as Africa’s first crypto-based gold royalty token. GMA is a token backed by a fully licensed and operational gold mine in Zimbabwe. So the token itself is not gold-backed, rather the gold is sold to the Reserve Bank and Ether is bought with the proceeds.
The main ICO ended October 12, 2018.
Name: Magma Coin (MGM)
Location: Manchester UK.
Magma Coin has run an ICO and is pending exchange listing. The whitepaper says that “the company uses exchange traded funds (ETF) or physical gold (of 999 quality) as its security.” I tried to find what content of gold is on each token, and the whitepaper says “Each Magma token represents X amount of Gold Miligram of Gold.”
Name: XGold Coin (XGC)
Location: Punta Arenas Building, 13 Floor, Cincuentenari, Coco de Mar 79 East Panama City, Panama.
XGold Coin (XGC) is a gold backed digital crypto-currency option. The price of one XGC Coin at initial pricing is based on a single gram of Gold.
Name: ANTHEM (AGLD)
Anthem Gold is a cryptocurrency developed by Anthem Vault Inc. Each ANTHEM (AGLD) is backed by one gram of physical gold, securely vaulted with a nonbank operator and fully insured.
Name: GoldBase (ABG)
Location: St Kitts & Nevis
AssetBase offer five different precious metal crypto currencies (gold, silver, platinum, palladium, and rhodium). Unlike some of the other mixed metal tokens, AssetBase has a separate token for each metal. The GoldBase crypto coin (ABG) is equal to 1g of physical gold and is 100% redeemable for 100% physical gold. All gold (and other metals) is vaulted and insured and audited by a third party. To acquire precious metal tokens you will need Prime Donor Tokens (PDT).
Location: Hong Kong.
BULLIONBLOCK is developing a decentralized mobile payment gateway platform on its own blockchain, delivering transparent instant and secure options for remittance and financial transactions protected by physical gold and silver bullion.
Counos Coin offers a selection asset-backed cryptocurrencies including major currencies, silver, and gold. Each asset class is capped at 21,000,000 coins (like Bitcoin). Counos Gold will have real gold with the same value preserved in Switzerland banks.
Name: Dignity (DIG)
Dignity (DIG) is owned by Arbitrade which has been acquired Cryptobontix. There is no contact address or profiles listed, so I’ve left it here under in development until further notice.
blockchainbullion.io were also associated with the project though the site has since gone offline.
Here is a more detailed writeup about $UNY / $DIG.
Name: DinarDirham (DNC)
Location: Hong Kong.
DinarDirham was founded in Southeast Asia and is headquartered in Hong Kong. It connects actual gold to crypto tokens on blockchains. DinarDirham doesn’t hold or control gold or DinarCoin or Smart Gold Contract. Instead all gold assets issued in DinarDirham is bridged to the liquidity provider.
Name: EGYPT (EGY)
The upcoming ICO will offer 1 EGY = 0.1 US Dollar. The public share of 650000000 EGY is gold-backed by depositing all the token paid value in BullionVault and a monthly report will be available for the public to see it through the website.
Name: G-Coin ()
Location: Santa Clara CA, USA
G-Coin is a digital token backed by responsibly sourced, physical gold. One G-Coin token represents digital ownership of one gram of conflict-free gold stored in an approved vault. Using blockchain technology, responsibly sourced gold is tracked from mine to vault and then digitized into G-Coin tokens.
Name: GODcoin (GOD)
GODcoin is “the official coin of Christ” and offers gold and silver-backed cryptocurreny. It’s also “endorsed by God the Heavenly Father, and issued by the Messiah, Lord Ra-El.” One gold token (GOD) is worth one ounce of physical gold. One silver token (SOD) is worth one ounce of physical silver.
While looking for information for this I found another GOD coin so I’m not sure what 3-letter code they will use.
Name: Goldbloc (?)
Goldbloc is a gold-backed digital currency and banking platform developed by The Real Asset Company (TRAC), providers of a secure online gold exchange and vaulting services, and Lionsgold (LSE: LION) a London Stock Exchange AIM-listed company focused on gold exploration, production and the retail application of gold.
Location: Cayman Islands.
GOLD.IO plans to be the first cross-blockchain DEX (Decentralized EXchange) and DAC (Decentralized Autonomous Community). The mission of GOLD.IO is to create an infrastructure ruled by like-minded individuals, sharing the same vision and idea for the future of the decentralized community-governed gold market.
Goldlinks is a global gold industry alliance, every 100 GGC is pegged to 1 gram of fine gold.
Name: LondonCoin (LDX)
Location: Seoul, Republic of Korea.
LondonCoin provides a cryptoecosystem consisting of a core cryptocurrency, a decentralized exchange, and a wallet. LDX will be backed by real physical gold, accumulated and locked up in a ‘reserve only’ foundation in Switzerland. Gold reserves are owned by LDX holders, and LDX holders can exchange the cryptocurrency with actual gold bars.
A blockchain platform that generates the OToken, 100% backed by gold to save, transfer, transact, redeem or spend. 1 OToken = 1/1,000 of gold’s spot price. No ICO.
Name: Quantum Gold (QTG)
Quantum Gold Token is a cryptocurrency that combines backing by a physical gold reserve and income from forthcoming production of gold from selected gold mines. For each QTG Token, half of the proceeds (net of expenses) will be allocated to purchase physical 999 gold and stored in Real Gold Reserve (RGR). The other half of the proceeds will be stored in Growing Token Reserve (GTR), which will be invested in selected gold mines. Every year in return, an agreed portion of gold production from the mines will go to the Real Gold Reserve (RGR).
Name: Quintric (?)
Location: Utah, USA.
Quintric combines cryptocurrencies with real gold and silver coins using the Bitshares platform.
For the gold token, “each Quint token constitutes five U.S. gold cents (one 1/1000th of a one-ounce, U.S. legal tender, gold coin) payable on demand in minimum 1,000 token increments for an American Eagle/Buffalo gold coin, bearing a fifty dollar face value.”
The gold coins are stored in a fully audited vault and deliverable upon request. There is no ICO for this project. Instead, a pre-launch promotion is on until the 4th of July, 2018.
The Mining Co.
Name: The Mining Co. (TMC)
Location: Nevada, USA.
The Mining Co. is a mining company in Nevada that are raising funds for a gold mine via an ICO. TMC tokens are backed by the gold mine, so there is no set value for the token until gold is mined. The value of the token will increase according to mined gold. The website says it’s “the first cryptocurrency to be asset-based”, so they’re obviously not readers of my blog 🙄
Name: TPX Gold (TPX)
Location: Birmingham, UK.
TPX Gold is gold registered and traded on the blockchain. 1 TPX equals 1 gram of gold. All gold is London Bullion Market Association (LBMA) approved 999.9 fine gold, stored by Brinks and fully insured by Lloyds of London.
Name: TruGold ()
Location: Wyoming, USA.
TruGold is an electronic distribution system to digitize the production of gold for peer-to-peer daily transactions, trading for other digital currencies–or to redeem for physical gold.
Name: USDVault (USDV)
USDVault (USDV) is a stablecoin, pegged 1:1 to the US Dollar. USDV is fully backed by, and redeemable for, gold held in Swiss vaults directly via 3rd party fiduciaries. This looks like a transparent and accountable alternative to Tether (USDT). The USDVault token is expected to launch in late 2018.
Name: Value Units (VUS)
Location: Hong Kong.
Value Untis is a decentralized blockchain covered with physical gold that is stored in various Swiss army bunkers.
Name: X8currency (X8C)
Location: Zug, Switzerland
X8Currency is positioning itself as stable token for crypto investors. X8C is an Ethereum token, 100% backed by a combination of 8 fiat currencies and gold. Each token is represented with assets deposited in bank accounts. Gold is held in physical reserves in the format of gold coins. The percentage of each currency and gold is unclear.
Name: ZenGold (ZGC)
ZenGold is a cryptocurrency is backed by physical gold. Each ZNG token represents 1 gram of 99.99% Gold reserved in Shanghai Gold Exchange Vault.
Crypto Graveyard: Closed / Didn’t Meet Funding
Since I’ve started keeping track of gold-backed cryptocurrencies some have already fallen by the wayside.
Name: BaselBit (BB3)
Location: Zug, Switzerland.
BaselBit was a planned crypto currency backed by gold and silver reserves. According to the website:
“Due to unobtainable and unverifiable audits of underlying assets of Basel Bit and its principle guarantor not providing contracted financing forces the organization to cease operations.”
Digital Bullion Gold
Name: Digital Bullion Gold (DBG)
This project has gone dormant and there is no contact from the developer.
Name: Gold Cryptocurrency (GOLDC)
A proposed gold-based online currency that was saying it had an ICO in August 2017, though I couldn’t find any record of it. There were some updates at github, and the website has since gone offline.
Name: GramGold (GGT)
Location: United Kingdom
GramGold was a gold exchange, a gold vault, a gold ATM, and a foundation. The Gramgold Token (GGT) is 10% backed by gold. The GramGold ICO was on in March, 2018 and went offline in April, 2018.
Name: IC3 Cubes (IC3)
IC3 Cubes secured by 100% Canadian gold. The site has gone offline with no other information on its fate.
Name: Lightcash (LCSH)
Lightcash Crypto Gold is pegged to actual gold, in a ratio of 1000 LCSH’s to one gram of gold. By purchasing tokens, investors receive an ownership share in the gold mining company. An ICO ran until June 2018, and it has since gone offline. Check for updates at bitcointalk.org.
Name: Midas Rezerv (MRCoin)
One of the earliest attempts at a gold-backed crypto was by Midas Rezerv. A press release from 2015 says that every Midas Rezerv token is 100% backed by 1 gram of gold.
Name: OZcoinGold (OzGLD)
OzGLD was a proposed cryptocurrency 100% backed by gold. A paid press release stated that “each 100 OZcoinGold coins is backed by 1/3 gold bullion stored in the Perth Mint and 2/3 gold reserves held by Ozcoin Inc, to be delivered to Perth Mint by March 2022.” There was no mention on the Perth Mint site, and no physical contact details were the website which has since gone offline.
Name: Reales (RLS)
Location: Tallinn, Estonia.
Reales coin was a token that combines a basket of precious metal and cryptocurrencies. The breakdown of each token is 10% physical gold, 35% physical silver, 20% Bitcoin, and 20% for ICO’s and alt-coins (total 85%). The remaining 10% was for company’s budget and 5% for operational costs.
An ICO was held in 2018 and didn’t reach their softcap.
Royal Mint Gold
Name: Royal Mint Gold (RMG)
Location: London, England.
The Royal Mint planned to team up with CME Group (the derivatives marketplace) to offer bullion on the blockchain. Royal Mint Gold (RMG) proposed to offer real gold, stored in The Royal Mint vault, and traded on a digital trading platform provided by CME Group. It would have been be available through third party investment intermediaries such as banks and brokers. The project was abandoned in October, 2018.
Name: Tether Gold (GLDT)
A press release was posted about an ICO for Tether Gold. It appears to be inspired by Tether (USDT), which is pegged to the US Dollar. In this case 1 GLDT = 1 Oz / 31.1 Grams .9999 AU GOLD. The website looked hastily thrown together and is no longer working. Possibly a scam coin.
Name: Auric (AURI)
Location: Zurich, Switzerland.
Auric is a store of value and medium of exchange cryptocurrency backed by a physical store of gold at a rate of 0.001oz per Auric. Owners can hold Auric, trade it on exchanges, or transfer it for this equivalent amount of gold via the Auric Market at any time.
The ICO ran in September 2018. Since then the site has gone blank, and here was the last update on the Bitcoin Forum.
“Thanks very much for all the ICO funds…we will try and launch Auric sometime before 2040. Have a great day. No more updates until then.”
Name: AURUM X ()
Location: Seoul, Republic of Korea.
AURUM X (previously known as Gold Mining) will secure gold through its cryptocurrency mining business. Future plans are based on creating a large mining center, which cryptocurrency-based revenue would continue to increase gold reserves.
Holder of X tokens will then be distributed with V tokens, which is pegged with with price of gold (1 V token = 0.01g physical gold). V tokens are issued only as much as the quantity of gold held. The gold will be continuously secured from the profits of large-scale mining centers, cryptocurrency exchange, gold products and discount shopping malls.
ICO started on August 1st, 2018. The site has since gone offline – awaiting more details.
Name: BullionCoin (XAAU)
Location: Isle of Man.
Bullioncoin is a gold and silver backed cryptocurency. Gold Bullioncoin (XAAU) is equal to one gram of gold, and silver Bullioncoin (XAAG) is be equal to 50 grams of silver. There is also a Debit MasterCard available which can use your Bullioncoins for every day purchases.
The site is offline with the message: “BullionCoin is undergoing some updates inline with the recent GDPR regulations and will be back online soon.”
Name: Crypto-Gold Coin (CGC)
Crypto-Gold Coin started out as CryptoGLD (CrGLD). The original website at cryptogld.com is no longer working so I found their new site via the Facebook page. It says they are a cryptocurrency but it doesn’t appear to be on any exchange (and CGC is another token). When I checked it was selling a 1 ounce Crypto-Gold Coin at US$1,300.00, even though the current market price at the time was US$1,321.00. There is no office listed, and no mention of how the gold is stored or how you can sell it once you have bought.
Name: CURRENSEE (CUR)
Location: Dubai, U.A.E.
Currensee a gold-backed crypto currency valued at the current price of 1gm of Gold. The value of the physical gold in the reserve is directly proportionated to track the performance of the coin in the market. The Currensee platform is built on a private blockchain, based on the Ethereum Technology.
Name: Doradocoin ()
Location: Santiago, Chile.
Another claiming to be the world’s first gold-backed cryptocurrency, Doradocoin tokens are issued to attract investments into an existing gold production enterprise in Chile. There’s no contact details or details of the token, or where the mined gold will be stored.
The Doradocoin ICO begins in October, 2018.
The site has since gone offline – awaiting further details.
Name: GoldBlocks (GB)
GoldBlocks is a blockchain based MLM (Multi-Level Marketing) mining site that also has gold-backed something or other. I don’t know how to describe this as the website just says a bunch of buzzwords without clearly describing what it does. It says they “work with various gold trading platforms”, the site is incomplete with broken links. The coin is trading and you can read updates here.
The site has since gone offline – awaiting further details.
Name: GoldMineCoin (GMC)
GoldMineCoin is – as the name suggests – is a coin backed by a gold mine. This crypto-currency is secured by gold deposits in the Magadan Region of the Russian Federation. This set up resembles the exploratory mining companies that frequent the penny stock listings. You have a high risk of not finding gold and potential high reward of hitting a productive gold mine.
Pre-ICO ran until August 2018. The site has since gone offline – looking for more information on this.
How to buy gold-backed cryptocurrency
Before you buy any of the gold-backed cryptocurrencies listed you will need to have a stash of Ethereum or Bitcoin available. If you already have then you can skip to the next section.
If you are buying and selling altcoins on a regular basis then it’s worth getting accounts set up and verified on different exchanges. With the current high demand in trading crypto you may find that some exchanges will take weeks to get set up, so having different options will get you started quicker.
Bitcoin and Ethereum are the two major cryptocurrencies that are used to buy alt-coins on exchanges. For ICO (Initial Coin Offering) purchases Ethereum might be the only payment available if the token is running on Ethereum.
You will end up having accounts at different exchanges as not all exchanges accept fiat currencies, and the ones that do may not trade the coin you want.
Here are some crypto exchanges where you can deposit cash to buy Bitcoin or Ethereum.
Coinbase is the most well known site to buy Bitcoin and Ethereum. They are ideal if you are new and just want to get started quickly. (This link will also give you $10 on your first $100 deposit.)
Coinmama is another speedy option to get Bitcoin or Ethereum.
Paxful is peer to peer marketplace for buying and selling bitcoin. They offer more than 300 ways to pay for bitcoins, such as direct debit, credit card, Paypal, and via giftcards.
SpectroCoin offers a fiat and virtual currency exchange with more than 20 currency options available
Once you are set up and have bought BTC or ETH you can then follow the instructions from the cryptocurrency you are buying.
Cryptocurrencies that aren’t gold-backed
While researching and updating this list I keep finding Cryptocurrencies that sound like they are gold-related. The biggest naming misnomer is Bitcoin Gold (BTG), which is a fork of the Bitcoin blockchain and has no gold attached to it. What a wasted opportunity to not have an actual gold-bitcoin. The name has really messed up my gold news alerts as well.
At least Bitcoin Gold aren’t pretending to be linked to the value of gold, just as a Visa or Mastercard Gold Card isn’t pretending to be made of gold. Things start getting murky with Ethereum Gold (ETG). Ethereum Gold is built on the Ethereum blockchain and was launched in October 2017 as an airdrop to crypto forum readers. The website says that it’s a “smart-contracts governed ecosystem that applies blockchain technologies using the value of GOLD.” There is no other mention of how it is connected to the value of gold.
Crypto Bullion (CBX) has been trading since before any gold-backed crypto got started, but it doesn’t have any bullion backing. It was launched to function as a store of wealth and emulate the properties and supply of gold.
GoldCoin (GLD) is “Digital Gold” and not backed by physical gold. It was founded in 2013 and is a decentralised open-source cryptocurrency forked from Litecoin.
GBCGoldCoin (GBC) is a Russian cryptocurrency and is not backed by gold coins.
Gold Bits Coin (GBC) project is no longer gold-backed.
News / Watch List
The Blackwood Gold Coin – 1ozg (as in 1 oz of Gold). Only 120,000 Blackwood Gold 1ozg crypto coins will ever be issued.
Korean startup GoldMining launches gold-backed cryptocurrency. Pre-sale of tokens will start on April 1.
Canamex Gold Corp. announce a non-brokered private placement of Gold Royalty Tokens to accredited investors.
Cryptocurrency backed by gold being developed by Perth Mint to entice investors back to precious metals – The Perth Mint is wholly owned by the Government of Western Australia, so this would be similar to the project being developed by the Royal Mint of the UK.
IEG Holdings plans to create its own IEGH Crypto/Blockchain currency backed by gold metal and SEC registration as a security.
Goldcliff (a mining company) plan to develop a gold based cryptocurrency.
GoldenRock – a national cryptocurrency proposed by Kyrgyzstan that will be backed by gold.
HayekGold – A gold-backed, digital asset using block chain technology and the Counterparty platform. By Anthem Vault who have developed Anthem Gold. Unclear if this is going to be developed as well.
Petro – Venezuela will create a cryptocurrency backed by oil, gas, diamond reserves, and gold.
Russia is looking into launching a gold-backed “CryptoRuble”, though as a state-issued cryptocurrency that cannot be mined, it’s not very crypto.
Future gold-backed cryptocurrencies / ICO’s
There are more gold-backed cryptocurrencies being developed, so we will add them here as they become known. If you know of any others or are developing one leave a comment.
As mentioned previously, this is intended as a directory and is not an editorial endorsement. Do your own research before buying.
Some of the coins and exchanges include referral links which may earn Goldscape.net a commission. I will make a note of any tokens that I have bought.