I'm not big on gold cryptos. Here's why...
First of all, how do we know that they have the amount of gold they say they do? Verification from a reputable auditing company helps, but at the end of the day, the general public never knows how much is in the vaults. They auditing company could by lying and we just don't know how rigorous their audits are.
Second, the person with the keys to the gold vault owns the gold, not the company, not the token holders. If they decide to go in there one night and take it all out, it's gone.
Finally, Tether has been known to do some shady accounting practices in the past, so I don't trust them. Show Less
