Digital Assets: Bitfinex Launches Margin Trading for Tether Gold (XAUt)
Bitfinex offers up to 5X leverage on XAUt/USD, XAUt/USDt and XAUt/BTC margin trading.
Bitfinex, the Hong Kong-based crypto exchange, commenced margin trading for Tether Gold with US dollar (XAU₮/USD), tether (XAU₮/USD₮), and bitcoin (XAU₮/BTC) on Thursday at [2:00] PM UTC.
This follows the listing of Tether Gold (XAU₮), a stablecoin backed by physical gold. Trading in XAU₮ commenced on January 24 at [2:30] PM UTC. One token represents ownership of one troy fine ounce of physical gold, held in a Swiss vault with TG Commodities.
Investors in XAUt, therefore, have the best of both worlds of a digital asset and a physical precious metal. Further, as Dailyalts reported, XAUt is readily transferable, has zero custody fees, and best in class security and anti threat measures.
Tether Gold: Margin Trading
Speculators interested in trading the XAUt pairs may do so with leverage, by putting up margin collateral of 20%. This enables exposure to larger quantities, and therefore higher profits (or losses).
Given the volatility of crypto assets, only experienced traders should involve in margined and leveraged trading.
Further, “The launch of margin trading on Tether Gold will allow more advanced trading strategies, enabling a more sophisticated means of hedging exposure and managing risk,” said Bitfinex CTO Paolo Ardoino.
Related Story: Digital Assets: Tether Gold is a New Gold-backed Crypto-Asset
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