What is pax gold (paxg)?
Pax gold a gold-back Cryptocurrency Hai, which was launched by the manufacturers of Paxos Same Old in September 2019. This means that every paxg token is associated with real gold. It is an ERC-20 token that works on the Ethereum Blockchain. You can easily buy and sell it on many big exchanges of the world.
Its main objective is to make it easier to trade gold. Physical gold is difficult to divide, keep and transport into small parts. PAX Gold is a solution to this problem – it is a digital token that is supported by 100% gold.
Who is the manufacturer of PAX Gold?
Charles are Founder and CEO of both Cascarilla, Pax Gold and Paxos Same Old. He studied finance from the college of notre dam and started an investment firm called Cedar Hill Capital Companions in 2005.
Cascarilla has experience in both traditional finance and blockchain areas. This is the reason that he decided to connect stable investment like gold to the digital world.
What makes Pax Gold special?
Paxg is a token that gives you the opportunity to invest in real gold, that too go to the bank, buy gold or without need to store somewhere. Let’s know its features:
Every paxg token is supported by a troy oance (about 31.1 grams) pure gold. This gold is safe in Breaking Point’s Wallet, which has been certified by London Bullion Marketplace Affiliation (LBMA).
Through paxg, you can invest in gold even for a little money. Where earlier there was a need for a big amount to invest in gold, now you can buy gold even in small parts.
Since it moves on the Etreum Blockchain, it makes all transactions secure and transparent.
You can easily buy and sell paxg, transfer or store in your wallet. Its liquidity is more than physical gold.
How much is the supply of pax gold?
The special thing about Paxg is that the more gold is in the reserve, the more tokens are issued in the market. That is, it is associated with gold in 1: 1 ratio.
At present, about 60,161 paxg tokens are in circulation. This number varies over time because as people invest in it, Paxos buys new gold and issues new tokens.
How is PAX Gold protected?
Paxg’s infrastructure is built on Ethereum Blockchain and initially worked on the Evidence-of-Paintings (Pow) model. However, now Etreum has started shifting to Evidence-of-STAKE (POS), which is more energy-efficient.
In addition, Paxos is licensed from American regulatory agencies and is regulated by Fresh York Situation Branch of Monetary Products and Services.
Where can you buy pax gold?
You can buy Paxg from many big exchanges, such as:
In addition, you can store it in any ERC-20 supported wallet such as metamask, consider pockets or Ledger. Pax gold value Click on this link given to know.
Is it safe to invest in pax gold?
Although pax gold is supported by physical gold and the security of Blockchain also makes it strong, it is still a crypto asset. That is, the risk in the market and the risk related to the crypto market remains on the pax gold.
Conclusion
If you want to invest in gold but want to avoid the hassle of buying physical gold, want to invest in small parts and like to invest in digital ways, then Pax Gold (PAXG) can be a great option for you. It is a digital token, which is equal to one gram of gold and can be traded on blockchain, which can easily become a gold owner in small parts without worrying or worrying of handling physical gold.
Pax Gold offers a simple and convenient way of investing in gold, with transparency and security. This makes the investment a combination of traditional gold stability and the flexibility of crypto. But keep in mind, risk is associated with all types of investment, so take wise steps. It is important to do your research and understand the risk before any investment.
