How to buy Tether Gold (XAUT) in the UK

Where to buy Tether Gold in the UK

It looks like XAUT may not be available to purchase on an exchange in the UK.

You can still purchase XAUT by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

How to purchase XAUT using a decentralised exchange.

1. Find XAUT on a decentralised exchange and make sure Tether Gold can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
2. Buy ETH to trade for XAUT using an exchange like CoinJar. You will need to purchase enough ETH to swap for XAUT as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
4. Trade ETH for XAUT on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
5. Wait for the transaction to finalise and the XAUT tokens will arrive in your wallet.
6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the UK.

Best Tether Gold wallets to store your XAUT

You can keep your XAUT on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your XAUT below.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is Tether Gold a good investment?

Cryptocurrencies are both complicated and speculative. Buying any crypto coin or token comes with a high level of risk. It’s essential that you’re fully aware of all the risks involved before you decide to buy. If you’re thinking of purchasing XAUt, make sure you consider the following factors first:

• Zero custody fees: TG Commodities states that the XAUt token is the only product in the market that offers zero custody fees for the storage of gold bars. For investors interested in gaining exposure to physical gold, owning XAUt could remove the need to pay high storage and security fees. The removal of fees could help the token gain traction within traditional investing circles.
• Withdrawal limitations:
XAUt token holders will need to own one gold bar worth of tokens and hold a verified account with TG Commodities Limited before XAUt can be used to redeem physical gold counterparts. Physical gold can then be sent to any address located within Switzerland or the physical gold can be sold for cash on behalf of an investor.
• Centralised: All gold bars that back the token are secured and controlled by TG Commodities Limited - a private company. While the token offers the benefits of digitised gold, the issuer still has a single point of failure. If governments or other agencies decide to seize TG Commodities Limited assets, users may be left unable to access gold reserves. All owners of XAUt are also entrusting TG Commodities to have enough reserves to back each token.
• Wider company controversy: Tether Limited, the mother entity behind the gold-backed digital asset, has been shrouded in controversy and questioned by members of both the cryptocurrency and traditional financial industries. There have been several reports that suggest the US dollar stablecoin, USDT, is not 100% backed by US dollar reserves. This may cause concern to potential future investors of XAUt.
• High transaction fees: XAUt runs on the Ethereum network, which is often plagued by high levels of congestion. High congestion on the blockchain can lead to high fees, which might mean that transferring XAUt results in high transaction costs. Although Ethereum is in the process of implementing scaling solutions, it may still take some time before Tether Gold users can enjoy scaling benefits.
• Competitors: XAUt is not the only gold stablecoin that exists within the cryptocurrency markets. Other gold-backed token competitors include Digix Gold (DGX) and PAX Gold (PAXG). Both are thriving in the space. Although Tether Gold has led the market for several years, due to its affiliation with USDT, past achievement does not always guarantee future success.

Today's Tether Gold price versus ATH

Compare today's price of Tether Gold ($1948.65 USD) against its all-time-high price of $2169.74 USD on 15 March 2023. The closer the bar is to 100%, the closer XAUT is to reaching its ATH again.

How to trade, convert or sell Tether Gold

You can convert or sell your XAUT with the same exchange you bought it through:

1. Sign in to the exchange you have XAUT on.
2. If you store your Tether Gold in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of XAUT you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Tether Gold.
6. Complete your transaction and move your XAUT to a wallet for storage.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.