![ethan_thompson_psychologist](https://img.btcc.com/btcc/qa/ethan_thompson_psychologist.png)
What is crypto backed by physical gold?
Could you elaborate on the concept of <a href="https://www.btcc.com/en-US" title="cryptocurrency">cryptocurrency</a> backed by physical gold? Specifically, I'm interested in understanding how such a system works. Does it involve the direct ownership of physical gold, or is it more of a derivative or representation? How is the value of the crypto tied to the price of gold? Is there a mechanism to redeem the crypto for actual gold? And finally, what are the potential advantages and disadvantages of investing in crypto backed by physical gold compared to traditional cryptocurrencies or gold investments?
![What is crypto backed by physical gold?](https://img.btcc.com/btcc/qa/qaimg1020.png)
![Silvia](https://img.btcc.com/btcc/qa/Silvia.png)
Where is the safest place to buy physical gold?
I've been considering investing in physical gold as a hedge against market volatility, but I'm not sure where to start. Could you provide some insight on where the safest place to buy physical gold is? I'm particularly concerned about authenticity, pricing transparency, and the security of the transaction. Is it best to go through a local jeweler, a dedicated gold bullion dealer, or an online retailer? Are there any specific precautions I should take to ensure I'm getting a genuine product and not being overcharged? Your expertise in this area would be greatly appreciated.
![Where is the safest place to buy physical gold?](https://img.btcc.com/btcc/qa/qaimg137.png)