What is PAX Gold (PAXG) and how does it work?
PAX Gold is a hybrid of cryptocurrency and gold that bridges the gap between the two investment options. It offers the security and stability of cryptocurrencies.
How to crypto
In recent years, non-fungible tokens (NFTs), cryptocurrencies and other modern investment options have become fashionable. However, physical commodities such as gold are still in high demand. In 2021, the global cryptocurrency market cap exceeded $2 trillion. Now investors need to ask themselves: Which option should I choose: crypto or gold?
Gold is a commodity that dates back thousands of years as a store of value and medium of exchange and is still enjoying success today. Even with the invention of decentralized digital cryptocurrency, gold has remained equally important. Although, for most individual investors, owning gold can be difficult and out of reach. There is a crypto company, PAX Gold (PAXG), whose goal is to make gold ownership more democratic and accessible to everyday investors by allowing them to trade it like any other crypto. -currency.
PAX Gold has discovered a method to combine cryptocurrency with physical gold assets, making it attractive to investors accustomed to conventional alternatives. This article will discuss PAX Gold (PAXG) and analyze how the cryptocurrency works.
What is PAX Gold?Paxos Gold is a cryptocurrency backed by real gold reserves held by Paxos, a for-profit New York corporation. Each PAXG token is tied to a 1:1 ratio for one troy ounce (t oz) of a 400 ounce London Good Delivery gold bar stored in the vaults of Brinks Security in London. The Paxos-backed cryptocurrency, PAXG, is backed by gold bullion certified by the London Bullion Market Association (LBMA) and can be exchanged for real bullion.
Related: What is a gold-backed token?
PAX Gold is a hybrid of cryptocurrency and gold that bridges the gap between the two investment options. It offers the security and stability of cryptocurrencies.
How to crypto
In recent years, non-fungible tokens (NFTs), cryptocurrencies and other modern investment options have become fashionable. However, physical commodities such as gold are still in high demand. In 2021, the global cryptocurrency market cap exceeded $2 trillion. Now investors need to ask themselves: Which option should I choose: crypto or gold?
Gold is a commodity that dates back thousands of years as a store of value and medium of exchange and is still enjoying success today. Even with the invention of decentralized digital cryptocurrency, gold has remained equally important. Although, for most individual investors, owning gold can be difficult and out of reach. There is a crypto company, PAX Gold (PAXG), whose goal is to make gold ownership more democratic and accessible to everyday investors by allowing them to trade it like any other crypto. -currency.
PAX Gold has discovered a method to combine cryptocurrency with physical gold assets, making it attractive to investors accustomed to conventional alternatives. This article will discuss PAX Gold (PAXG) and analyze how the cryptocurrency works.
What is PAX Gold?Paxos Gold is a cryptocurrency backed by real gold reserves held by Paxos, a for-profit New York corporation. Each PAXG token is tied to a 1:1 ratio for one troy ounce (t oz) of a 400 ounce London Good Delivery gold bar stored in the vaults of Brinks Security in London. The Paxos-backed cryptocurrency, PAXG, is backed by gold bullion certified by the London Bullion Market Association (LBMA) and can be exchanged for real bullion.
Related: What is a gold-backed token?
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