How and Where to Buy PAX Gold (PAXG): An Easy Step by Step Guide




Paxos Gold is based on the Ethereum blockchain, and its transactions adhere to the Ethereum network's smart contract regulations. PAXG combines the benefits of physical ownership of individual gold bars with the speed and mobility of a digital asset to provide consumers with the best of both worlds.

Customers can buy a piece of the actual bar for a fraction of the price. They can easily change their tokens to allocated gold, unallocated gold, or fiat cash (and vice versa) via the Paxos platform, decreasing their exposure to settlement risk. Paxos' itBit platform also accepts PAXG for trade. PAXG will be available via a variety of exchanges, wallets, financing platforms, and other places within the crypto ecosystem.

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About PAX Gold

Paxos has released PAX Gold (PAXG), a gold-backed stablecoin. Each token is backed by one fine troy ounce of gold held in Paxos-managed Brink's vaults. Without the use of an ETF, futures contract, or other derivative instruments, PAXG provides access to gold markets.

PAXG was first released in September of this year, and its market capitalization and volume have grown considerably as gold prices have changed significantly in 2020. PAXG has several benefits over other gold trading solutions, including the ability to redeem real, allotted gold. There are no holding costs (fees payable at the time of creation, redemption, or transfer), and there is an immediate settlement.

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What is PAX Gold [PAXG]?

Pax Gold is a gold-backed and Ethereum - based blockchain network. It is available on a wide range of exchanges and has become a popular option for traders to begin investing in gold. Pax Gold's major objective is to make gold more marketable because the physical commodity is difficult to divide and move. This is why Paxos Standard decided to establish a gold-backed cryptocurrency.

Pax Gold was designed, according to the official whitepaper, to allow investors to acquire indefinitely tiny quantities of gold using cryptocurrency, thereby eliminating minimum buy limitations for the commodity.

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Who Are the Founders of PAX Gold [PAXG]?

Paxos Standard and Pax Gold are both founded by Charles Cascarilla, who also serves as the company's CEO. Cascarilla has a long history in capital management, which led him to investigate the huge potential of cryptocurrencies.

In 2005, he studied at the University of Notre Dame and got a degree in finance. Then he established a company named Cedar Hill Capital Partners.  This was the beginning of his financial and capital management career. Mr. Cascarilla has been involved in many traditional and blockchain-based venture capital initiatives since 2005.

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What Makes PAX Gold Unique?

One of the primary aims of Pax Gold that distinguishes it from others is to make gold investment more accessible.

“More than USD 3.5 trillion of the total gold accessible today is used purely for investment purposes,” according to the official whitepaper. However, a substantial chunk of it is out of reach for inexperienced investors. This is when Pax Gold enters the picture. Each PAXG token is backed by a portion of a London Good Delivery gold bar kept in Brink's gold vaults, which is the London Bullion Market Association's certified storage business.

Pax Gold provides traders with a new investment idea by utilizing the security and liquidity of blockchain-based cryptocurrency to make gold investment tokens.

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Where Can You Buy PAX Gold [PAXG]?

Pax Gold is an ERC-20 token, which means it can be purchased on many well-known exchanges and kept in a broad range of cryptocurrency wallets. Pax Gold can be bought on numerous exchanges including some of the most well-known and respected platforms such as Binance, BitZ, FTX, and Kraken 

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Frequently Asked Questions

Is it possible to purchase PAXG with cash?

No. It is not possible to purchase PAXG with cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.

What Security Measures Does the Origin Network Take?

The proof-of-work (PoW) model is used to protect the PAXG protocol, which is built fully on the Ethereum blockchain. 

On what factors the price of the PAXG Network [PAXG] Depends?

Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact PAXG’s price and market cap.

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