Bitfinex, a leading Bitcoin exchange platform has added support for margin trading for Tether Gold (XAU₮). This would allow traders to implement more advanced strategies on gold in a digital form. At the latest, traders would be able to execute margin trade using Gold-backed token against pairings like<a href="https://www.cryptoknowmics.com/tag/bitcoin/"> Bitcoin</a>, USDT, and the U.S. dollar.
<h2>Margin Trading Gives Higher Profits</h2>
Paolo Ardoino, Chief Technology Officer at Bitfinex cited Tether Gold has been provided looking at the increasing interest in gold and other safe-haven assets among the recent turbulence that they have observed in equity markets.

A<a href="https://www.bitfinex.com/posts/451"> press release</a> which came from Bitfinex stated these pairs could be traded with initial equity of as low as 20 per cent which would provide traders with a maximum of up to 5X leverage.  Ardoino believes the launch of margin trading on Tether Gold would provide a more sophisticated way of managing risk and hedging exposure.

Margin trading has enabled traders to enhance leverage by borrowing funds, providing higher profits than one could make from traditional trading. However, with increased levels of risk, the potential for higher rewards also comes.
<h2>Significance Of Tether Gold On London Good Delivery Gold Bar</h2>
On a London Good Delivery gold bar, Tether Gold has signified ownership of one troy ounce of physical gold, with gold strengthening each token that was deposited in a Swiss vault. Tether Gold holders would be able to bypass drawbacks related to physical gold, such as limited accessibility and high storage costs.

The new gold-based token from Tether has become the only product amid its competition, like PAX Gold, that has been providing zero custody fees while maintaining direct control on the storage of physical gold. Through a spokesperson, Bitfinex refused to state whether the gold contained in storage would be audited and those audit reports would be made available in the future.

Bitfinex Allows Using Tether Gold For Traders To Execute Margin Trading

Holders of Tether Gold would be able to bypass drawbacks that were related to physical gold, such as limited accessibility and high storage costs.

Shailesh is an ardent follower of the crypto world and keenly watches every development taking place in the cryptocurrency space. He loves to voice his opinions through well-curated blogs and articles, which throw light on different facets of the crypto industry.

Bitfinex Allows Using Tether Gold For Traders To Execute Margin Trading

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