PAXGold Details

Asset Overview

PAXGold

PAXGold

About PAXGold

A stablecoin is a cryptocurrency that resists extreme volatility because it is backed or linked to a reliable offline asset. In the case of PAX Gold, created by the blockchain infrastructure firm and crypto brokerage Paxos, that offline asset is gold stored in Brink’s vaults in London. Each token is backed by one ounce of a gold bar. If you own digital PaxG, you also own the corresponding amount of physical gold, but do not have to pay storage fees.  

Benefits

PaxG can be redeemed for actual gold bullion. Smaller amounts can be redeemed through a network of physical gold retailers. Benefits of the digital currency are that it can be moved or traded more easily than gold or gold futures, 24 hours a day, with low blockchain fees. Its divisibility makes it easier to buy exact amounts of gold instead of rounding up to the nearest bar or coin measurement. You can trade against other cryptocurrencies, or for fiat currencies (USD, for example). PaxG is also regulated by the New York State Department of Financial Services.

Current price:$1,758.82

Economic Details

PAXGold Details

Ticker
PAXG