What is Gold Standard (AUS)?
Gold Standard (AUS) is a cryptocurrency built on Ethereum that is pegged to the price of Gold. Essentially, 1 AUS token equals 1 gram of pure Gold. All of the physical bullion bars of real Gold are securely stored in the Reserve Vault, which happens to be one of the most secure facilities in Australia. When you buy the AUS token, you legally own the physical amount aswell.
The benefit of owning digital Gold opposed to real Gold is that you don't need to pay any additional fees to store, transfer or secure it. Additionally, when you buy Gold Standard through a secure exchange like CoinSpot, you're tokens are insured by tier 1 banks. CoinSpot is the most secure asset exchange in Australia and the only one to obtain the ISO27001 certificate.
How to buy Gold Crypto in Australia
The only secure way to purchase Gold Standard Crypto (AUS) is through the CoinSpot exchange. CoinSpot accepts AUD deposits via PayID, POLi, BPAY, Osko, Bank Transfer, Credit/Debit Card and Cash. Follow the below steps to get started.
- Sign up to the CoinSpot exchange and complete verification.
- Deposit AUD by clicking 'Deposit Funds' and choose a method.
- Go to the 'Buy/Sell' tab, search for 'Gold Standard' and tap 'Buy AUS'.
- Input the amount of AUD you want to invest and select 'Buy'.
Gold Crypto (AUS) Live Price in AUD
If you want to see the live price and chart of the cryptocurrency, AUS in Australian dollars, you can check CoinSpots AUS chart.
Is it expensive to invest in Gold backed Crypto?
It can be expensive to invest in cryptocurrencies depending on what platform you use. CoinSpot however, offers the lowest fees in Australia with multiple free AUD deposit methods like PayID, POLi, Osko and Bank Transfer. It also offers the lowest trading (cryptocurrency purchase) fee at 0.1% when you use the Market buy feature and 1% when you use the Instant Buy feature.
Gold backed crypto assets like Ainslie Gold Standard (AUS) provide investors with a secure and low-cost way to invest in gold. Investors can buy them on the CoinSpot exchange, which works out to be one of the most cost-effective options when you factor in deposit fees, trading fees and withdrawal fees.
All of the physical bullion backing the Gold token is stored in the onshore vault and is fully insured by tier 1 banks. AUS tokens are also ERC20 compliant and can be stored in many of the Ethereum wallets.
Investors considering investing in Gold backed crypto should always make sure to do their own research and never invest more than they can afford to lose. It’s also important to understand the risks associated with Crypto assets such as market volatility, liquidity and custodial risk.