PAX Gold (PAXG) - Tokenized Gold on Ethereum Blockchain

PAX Gold (PAXG) is an asset-backed token where one token should represent one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. It is built on the Ethereum blockchain and categorized as a stablecoin, asset-backed token, and tokenized gold. PAX Gold is listed on various cryptocurrency exchanges including Binance, Kraken, Gemini, and many more.

What is PAX Gold?

PAX Gold is a digital representation of physical gold, providing the benefits of actual ownership of specific gold bars while enabling the speed and mobility of a digital asset. These gold bars are stored in professional vault facilities and are backed by the Paxos Trust Company, which ensures the security and integrity of the underlying gold.

Features of PAX Gold

PAXG holders have ownership rights to the physical gold stored by Paxos Trust Company. The value of PAXG is directly linked to the real-time market value of the physical gold it represents. Here are some key features of PAX Gold:

• Asset-Backed: Each PAXG token represents one fine troy ounce of a London Good Delivery gold bar.
• Fractional Ownership: Customers can have fractional ownership of physical gold bars through PAXG.
• Fast and Efficient: PAXG can be quickly and efficiently converted to allocated gold, unallocated gold, or fiat currency.
• Transparent: PAXG holders can lookup the serial number, value, and physical characteristics of their vaulted gold using the PAXG lookup tool on Paxos.com.

Where to Trade PAX Gold?

PAX Gold (PAXG) is listed on several cryptocurrency exchanges, providing liquidity and accessibility to users. Some of the exchanges where you can trade PAXG include Binance, Kraken, Gemini, and more. PAXG is also available on wallets, lending platforms, and within the broader crypto ecosystem.

Market Position of PAX Gold

PAX Gold is currently ranked 77th in terms of market capitalization among all cryptocurrencies. Over the past 30 days, it has experienced a price change percentage of 77%, reflecting its market performance.

Conclusion

PAX Gold (PAXG) offers a unique opportunity for investors to hold fractional ownership of physical gold through a digital asset. With its transparency, security, and compatibility with various exchanges, wallets, and lending platforms, PAX Gold provides users with a convenient and reliable way to access and trade tokenized gold.

FAQ

What is PAX Gold (PAXG)?

PAX Gold (PAXG) is an asset-backed token representing one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities.

How is PAXG different from other cryptocurrencies?

PAXG is unique as it represents physical gold, making its value tied directly to the real-time market value of that gold. It offers the benefits of actual ownership of gold bars in a digital form.

Where can I trade PAX Gold?

PAX Gold is listed on various cryptocurrency exchanges including Binance, Kraken, Gemini, and many more. It is also available on wallets, lending platforms, and within the broader crypto ecosystem.

How can I verify the authenticity of the gold backing PAXG?

PAXG holders can easily verify the authenticity of their vaulted gold by entering their Ethereum wallet address on the PAXG lookup tool on Paxos.com.