What is Universal Gold? What Does UPXAU Do?

What is Universal Gold? Universal Gold is a 1:1 indexed stablecoin to troy ounce gold, widely used in Australia. Koindeks.com In this article, we tried to answer the questions that investors wonder about what Universal Gold is, what it offers, what it does and how to buy UPXAU. Let’s examine this stablecoin, which is indexed to the gold price, together.

What is Universal Gold?

Universal Gold (UPXAU) is a stablecoin asset related to Blockchain and altcoin project Universal Protocol (UPT). This stablecoin is indexed to the troy ounce price, an Australian-based gold unit. Accordingly, UPXAU follows the price of troy ounce gold at a ratio of 1:1. The project aims to eliminate middlemen and drawbacks by bringing gold, a commodity, into the Blockchain space. In order to do this, it was created with the ERC-20 smart contract on the Ethereum network.

What does Universal Gold offer?

Universal Gold is not affected by the recent distrust of stablecoins in the cryptocurrency market. As we reported earlier, faith in stablecoins has waned due to the collapse of Terra’s UST coin. However, this stablecoin, which is indexed to gold, is completely state-supported. So for every stablecoin produced, 1 troy ounce of gold is held in the state. Thus, the stablecoin’s price stability becomes possible. However, the project allows users to have easy access to the bottom.

Users can buy as much gold as they want with easy processes. There is no minimum price set for purchasing cryptocurrencies. However, the project supplements Uphold credit cards. With these credit cards, users can withdraw some or all of the Universal Gold in their accounts in cash. In addition, the service price and gas price are not charged in the processes made with this crypto currency. So it’s a completely free stablecoin asset to hold and transfer.

What does UPXAU do?

UPXAU is the abbreviation of Universal Gold indexed to troy ounce gold. This stablecoin can be used by investors for various purposes. The first of these is value retention. Due to its low price volatility, gold has historically been a reliable investment tool in times of crisis. Accordingly, investors can use UPXAU to protect their funds in times of economic crisis or in the crypto market.

In addition, by using UPXAU, investors can hold gold for free and state-backed. In this middle, Universal Gold is a cryptocurrency that can be stored on an Uphold credit card. In other words, investors can withdraw their UPXAUs in cash from ATMs with Uphold cards, if they wish. This is a rare advantage amid cryptocurrencies. However, due to its service price and process price exemption, it also allows for cheap asset trading.

What is Universal Gold? How to get UPXAU?

Universal Gold currently trades on only one known exchange in the crypto space. This exchange is Bittrex. Users who want to buy stablecoin should follow the steps to become a member of the Bittrex exchange and verify the account. After verifying their accounts, they are required to deposit an asset in their wallets compared to UPXAU parities. After doing this, they can buy UPXAU based on the balance in their wallet.

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