How to Buy Tether Gold (XAUt) in South Africa
What is Tether Gold (XAUt)?
Tether Gold (XAUt) is a gold-backed digital token issued by Tether, the company behind the widely-used USDT stablecoin. Each XAUt token represents ownership of one troy ounce of gold stored securely in Swiss vaults, meeting the London Bullion Market Association (LBMA) Good Delivery standard.
Launched in 2020, Tether Gold provides a modern solution to the challenges of traditional gold investments. Unlike physical gold, which can be difficult to store and transport, or gold ETFs that charge management fees, XAUt combines the stability of gold with the efficiency of blockchain technology. It offers investors an accessible, cost-effective, and secure way to hold and trade tokenised gold.
How much is 1 XAUt in South African rands (ZAR)?
As of today, 1 XAUt = 0.000000 South African Rands (ZAR).
Market data last updated: Dec 30, 2024, 12:37 PM (GMT)
How to Buy XAUt in South Africa
The easiest way to buy Tether Gold in South Africa is through VALR, one of Africa’s leading cryptocurrency exchanges. Here’s a simple step-by-step guide to getting started:
Step 1: Log into Your VALR Account
Start by signing into your VALR account through the website or the VALR app on your phone. If you don’t have a VALR account, you can create one here. The verification process is quick and straightforward, taking only a few minutes.
Step 2: Fund Your VALR Account with ZAR
Next, deposit ZAR into your VALR account using a South African bank account or credit/debit card.
For bank transfers:
Go to your ZAR Wallet and select "Deposit."
Choose the "Via EFT" method.
Select your bank and use the displayed VALR banking details along with your unique VR reference number to transfer Rands to your VALR account. Make sure to use your unique VR reference number as the beneficiary reference when making the transaction.
For credit/debit cards:
Select the "Deposit" menu after choosing "Wallet" and "ZAR" on the website or app.
Opt for the "Via Credit or Debit Card" option.
Enter your card details on the next page. Note that only 3D Secure-enabled cards are accepted, with a rolling 24-hour card limit of 10,000 ZAR.
Step 3: Buy Tether Gold (XAUt) on VALR
Once your ZAR deposit is credited, you’re ready to purchase XAUt. There are two ways to buy Tether Gold on VALR:
1. Simple Buy/Sell:
Select "Buy/Sell" in the VALR app or on the website.
Choose XAUt as the cryptocurrency to buy and ZAR as the payment currency.
Specify the amount of XAUt you want to purchase, and finalise the trade.
2. Pro Trading:
Go to the "XAUT/ZAR" Spot pair under the "Pro Trading" menu.
Set custom parameters, such as the order type (Market, Limit, Stop-Limit), and place your buy order.
Why Buy Tether Gold on VALR?
VALR offers competitive fees, secure storage, and an easy-to-use platform, ensuring a seamless experience for purchasing XAUt. Start diversifying your portfolio with Tether Gold today!
Common ZAR to XAUt Conversions
| Amount (ZAR) | XAUt Amount as of MMM XX, YYYY at HH XM (GMT) |
|---|---|
| 5 | X.XXXXXX |
| 10 | X.XXXXXX |
| 25 | X.XXXXXX |
| 50 | X.XXXXXX |
| 100 | X.XXXXXX |
| 500 | X.XXXXXX |
| 1,000 | X.XXXXXX |
| 5,000 | X.XXXXXX |
| 10,000 | X.XXXXXX |
| 25,000 | X.XXXXXX |
| 50,000 | X.XXXXXX |
Frequently Asked Questions
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You can buy Tether Gold (XAUt) on VALR, one of Africa's leading cryptocurrency exchanges. VALR allows you to purchase XAUt using South African Rands (ZAR). Simply sign up, deposit ZAR, and trade XAUt on the VALR exchange using either the Simple Buy/Sell option or the Pro Trading platform.
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Tether Gold (XAUt) is not designed for staking, as it is a gold-backed token and not a cryptocurrency that operates on a proof-of-stake mechanism. Instead, XAUt provides stability and acts as a store of value, giving holders ownership of physical gold stored in secure vaults. While staking isn’t an option, you can trade, store, or transfer XAUt seamlessly on VALR.
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate.
VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
