Many sceptics believe the problem with cryptocurrencies is that they are not secure and are just lines of computer code. Gold-backed cryptocurrency is backed (unsurprisingly) by gold; a tangible asset meant to increase the credibility and security of the digital currency. As a form of stablecoin, gold-backed cryptocurrencies have their value tied to gold, instead of a currency like the USD or rubles. Each coin represents a unit of gold (one coin=one gram of gold, for example), which is stored by a third party. The main advantage lies in reducing the cryptocurrency’s volatility since the price of the coin can’t be ... (full story)