Wrapped Token Overview

[Suba]

Wrapped tokens are tokens whose value is pegged 1:1 with the original coin. The original coin is stored in the Wrapper, while the benefit of the wrapped token is that it will connect with other blockchains.
Wrapped native coins will launch on other blockchains, such as the Ethereum (ERC-20) blockchain.

Currently, many original coins have been made wrapped, such as Wrapped Bitcoin, Wrapped BNB, Wrapped EthereumPoW, Wrapped Tron, Wrapped HBAR, Wrapped AVAX, or Wrapped Fantom etc. On a stablecoin basis, it is also wrapped USD / Gold, meaning coins whose value is pegged to USD or gold,

 

[riberet19]

I honestly understand stablecoin or pax gold, for example, which is linked to gold among others, but what is the point of creating a wrapped, I don't understand it well, creating a currency that is linked to the value of another, it will be better to buy the real crypto better than a wrapped, I honestly don't see much sense in it.

 

[Suba]

But that's the reality that we encounter in the crypto world, many developers are idle and lack of work, so they make wrapped tokens, or they will benefit from transaction fees, or maybe get commissions from assistance services to make wrapped tokens.

 

[uptrendfinancialsignal]

But that's the reality that we encounter in the crypto world, many developers are idle and lack of work, so they make wrapped tokens, or they will benefit from transaction fees, or maybe get commissions from assistance services to make wrapped tokens.

It is true that there are lot of cryptocurrency project that are springing up but it's important to conduct proper research before joining any of this project.

 

[Suba]

It is true that there are lot of cryptocurrency project that are springing up but it's important to conduct proper research before joining any of this project.

This is one of the big benefits of RIF, members can discuss and share to add information not to get stuck in fake tokens or fake sites which are very detrimental.

 

[Golden9]

I've seen people buy and sell gold as wrapped gold on cryptocurrency exchanges. I've never really understood why, but it's possible to make things easier

 

[Suba]

I've seen people buy and sell gold as wrapped gold on cryptocurrency exchanges. I've never really understood why, but it's possible to make things easier

Yes, you are right, there is a crypto that is pegged to gold, called Pax Gold. The crypto world will make it easier for investors to invest in gold in the form of tokens and the price will tend to rise following the real gold price, very suitable for long-term investments. The current price of Pax Gold is $1,983. if you want more information you can open my thread https://indexforum.com/threads/pax-gold-paxg-overview.11643