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Why do people usually prefer use dollar-backed stablecoins over gold-backed ones?

Like the majority of us here, I guess, I usually use dollar-backed stablecoins like USDC or USDT.

Lately, I’ve been thinking about switching to gold-backed stablecoins. They often hold or increase in value even when the rest of the market is going down.

I’m wondering why don’t more people use this type of stablecoin? Am I missing something?

submitted by /u/BlueberryEvery
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