PAX Gold PAXG
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Information about PAXG
PAX Gold (PAXG) is an ERC-20 stablecoin pegged to the price of physical gold reserves in London. It is an ideal option for long-term investment, as the value of gold only increases over time. PAXG lowers the barrier to entry for investing in gold and allows users to own shares of physical gold without the costs of storage and transportation.
In terms of value, since PAXG represents physical gold, its price is directly linked to the real-time market value of that physical gold. Today, it is $5 102.80, with its current market cap being {{currency}}{{marketcap}}. The lowest price on the trading day amounts to $5 009.56 USD, and the highest keeps at $5 126.94 USD.
FAQ
How does PAXG coin work?
Here's how Pax Gold works: each PAXG token represents one troy ounce of LBMA-approved physical gold. The gold is stored in Brink's vaults and audited regularly by third parties. Investors can request redemption of physical gold or fiat via Paxos.
How can I buy PAXG?
You can buy PAXG on crypto exchanges. Let's discuss the most common option, using a bank card. First, select PAXG as the desired crypto on a crypto exchange and specify the fiat currency to pay for the purchase. Later, enter the amount of crypto you want to buy or the amount of fiat you are ready to spend. One number is automatically converted into another. Next, you will only have to confirm the transaction by entering your bank card details and the subsequent payment. After confirmation, the funds will arrive in your crypto wallet. You can purchase Pax Gold with a bank card on the Cryptomus platform with low fees.
Where can I store PAXG coin?
You can store PAXG tokens in a crypto wallet. To do this, choose a crypto wallet app, or a crypto platform with a built-in crypto wallet. In the second case, you will have the advantage of trading. You need to sign up on the platform and fund your wallet in any convenient way, for example, with a bank card.
How does PAXG differ from USDT?
PAXG and USDT are both stablecoins, but the difference between them is that the value of PAXG is pegged to gold, while the value of USDT is directly dependent on the dollar exchange rate.
Who are the founders of PAX Gold?
Charles Cascarilla is the founder and CEO of Paxos Standard, which launched Pax Gold in 2019.
What network does PAX Gold operate on?
PAXG operates entirely on Ethereum and is a ERC-20 standard token. Its operation on this network is fully secured by the Proof-of-Stake (PoS) consensus mechanism.
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