Pax Gold (PAXG) offers a digital asset backed by physical gold, providing accessibility and stability for investors. More
| Fully Diluted Valuation | $1.04B |
|---|---|
| 24H Trading Volume | $89.01M |
| 24H Low / High | $3.58K / $ 3.61K |
| Circulating Supply | 287.42K |
| Total Supply | 287.42K |
| Max Supply | ∞ |
| Categories | Stablecoins 5 more |
|---|---|
| Founder | Charles Cascarilla |
| Website | paxos.com |
| Socials | 3 more |
| Chains | Ethereum Ecosystem |
| Explorer | Energi 3 more |
| Contracts |
0x458....baf78
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| Name | Pair | OG Score |
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Pax Gold (PAXG): Revolutionizing Gold Investment
Pax Gold (PAXG) is a unique digital asset backed by physical gold, offering investors a novel way to access and invest in the precious metal. Launched by the creators of Paxos Standard (PAX) in September 2019, PAXG operates as an ERC-20 token on the Ethereum blockchain, making it tradable on various exchanges and accessible to a wide range of traders.
Enhancing Gold Tradability
The primary objective behind Pax Gold is to enhance the tradability of gold, a physical commodity that is not easily divisible or flexible for transport. To address these limitations, Paxos Standard devised a cryptocurrency entirely backed by gold, enabling investors to buy even minuscule amounts of gold through the cryptocurrency. Each PAXG token is backed by a fraction of a piece of a London Good Delivery gold bar, securely stored in Brink's gold vaults, which are approved by the London Bullion Market Association.
Backed by Established Commodity
PAXG stands out in the market due to its backing by an established commodity, providing investors with a reliable and stable investment option. The token's creation has paved the way for other cryptocurrency developers to create gold-backed tokens as well.
Transparency and Security
One of the key features of PAXG is its transparency and security. Token holders have ownership rights to the physical gold equivalent held by Paxos Trust Company, and they can verify the serial number and physical characteristics of their gold through the Paxos platform. Additionally, an independent auditing firm verifies transactions monthly to ensure that the reserve of physical gold accurately matches the supply of PAXG tokens.
Benefits Over Traditional Methods
PAXG offers several benefits over traditional methods of owning gold. It provides a cheaper alternative, as holders benefit from their gold being stored in secure vaults without the costs of physical storage. Moreover, PAXG offers very low investment minimums, allowing many individuals to own a fraction of a London Good Delivery gold bar. The token is also highly accessible, providing individuals in countries with unstable fiat currencies access to a stable asset.
Multiple Use Cases
Furthermore, PAXG has multiple use cases, including trading against other cryptocurrencies on exchanges and serving as a reliable store of value. It offers investors the security of buying a digital asset tied to a real-world asset, providing economic security in an increasingly digital financial landscape.
In conclusion, Pax Gold (PAXG) has revolutionized the investment landscape by tokenizing gold, making it more accessible, tradable, and secure for investors around the world.
Pax Gold (PAXG) is unique because it is a digital asset backed by physical gold, offering investors a reliable and stable investment option in the form of a tokenized commodity.
Charles Cascarilla is the founder and chief executive officer of Paxos Standard and Pax Gold (PAXG), with an extensive background in finance and capital management.
You can buy PAX Gold (PAXG) on Binance, Gate.ioMEXCBitgetCoinbase cryptocurrency exchanges.
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