The emergence of stablecoins and Pax Dollar indicates the revolution and modernization of blockchain technology. Stablecoins comparatively allow cheaper international transactions than fiat currencies since it is a fundamental ingredient of cryptocurrency proliferation in the market. Low price volatility is critical for long-term and sustainable growth.
In the crypto market, blockchain technology reduces price volatility and insurance safer investments by investors. The availability of its resources has been analyzed meticulously. Due to either limited- or non-price fluctuation, it has a consequent advantage for blockchain transactions. It has been proved that it is stable compared to any other currency.
This article is for people interested in Pax Dollar(USDP) but seeking extra details about this popular government-issued stablecoin.
If you want to buy Pax Dollars, the best way is to use the Bitget exchange. Use the link above to quickly and easily connect to Bitget and buy Pax Dollars.
What is Pax Dollar crypto?
Pax Dollar is a USD-backed stablecoin launched as a fiat-backed stablecoin in Sept 2018 by Paxos. Pax Dollar was created to sidestep legal banking system constraints and prove international transactions’ simplicity.
Paxos is a well-reputed corporation with authority to handle and issue the Pax Dollar or, previously, Paxos Standard. Their mission is to change the financial services sector. They permit the union of USD reliability with the spending and efficiency of blockchain technology. It is a reliable source for cross-border amounts.
Pax Dollar can be used if a person wants to trade on an exchange but doesn’t want to use fiat cash. The registration of the Pax Dollar on a public blockchain has created this a reality. It enables Parox to spread its commercial and financial services to more and more people. Furthermore, it supports the amalgamation of Paxos and other applications established on the Ethereum network.
Sending tokens to an address controlled by Paxos allows earned Pax Dollars to be briskly cashed out. Immediately after obtaining the token via Paxos, this token will be destroyed, and the person will receive money in return to be used according to the wish. It has been said that the cryptocurrency will likely continue to rise in value and usage due to its time-to-time decentralization.
Therefore, many international monetary organizations are looking to embrace this blockchain approach as other solutions want extra secrecy, and people are encountering challenges in this regard.
Blockchain technology protects investors as it does not threaten price swings.
Who created Pax Dollar?
Initially, Pax Dollar crypto was distributed by Paxos, a trusted firm, on 14 Sept 2018 and is currently documented with the New York State Department of Financial Services (NYDFS.)
Originally Paxos was formed in 2012 by Charles Cascarilla, the CEO of the company; Andrew Chang, the COO of the company; and Rich Teo, who had previously worked at itBit as CEO of Paxos Asia.
They have competence in numerous domains ranging from product development and finance to an incredible diversity of other businesses.
Where is Pax Dollar located?
Paxos Trust Company is a New York-based company comprising blockchain technology and banking services providers. It offers many services, such as settling and trading bitcoins, tokenizing assets, etc.; as digital money, it may be traded and acquired anywhere in the financial business.
Where can I get Pax Dollar?
These tokens can be bought on coins based centralized market, which is secure. These are available in need, such as 1Inch, Bithumb, Bitfinex, DigiFinex, and VCC Exchange.
Pax Dollar Price Prediction
Pax Dollar prediction is of no service. Originally, Pax Dollar, a digital currency, was designed to establish a defined value, often 1 USD. Due to this, our target would be from 2023,26,28, and 2030 for a Pax Dollar price of 1 USD.
However, when governments seek to make immediate sense of digital currencies worldwide, Pax Dollar is the single distinguishing characteristic in the adaption of cryptocurrencies. It was reported in 2022 that it might be at the top of the list of all stablecoins shortly, as its growth rate was approximately 400% in just one year.
By Market Capitalization, the lowest to highest on stablecoins, Pax Dollar is graded 6th.
What is the earnings report for USDP?
In the most recent quarterly report, USD Partners generated an income of roughly 0.07 USD/ share, less than the 0.22 USD/share from Zacks Consensus Estimate. Therefore, it is the fundamental rationale for a 68.18% low in profit in contrast to the prior estimation.
The following USDP financial report is expected to issue on 1 Mar 2023. Experts have anticipated a fall of 0.11 USD per share or 8.33 percent in earnings compared to the previous year.
What is the stock price of USDP?
According to the reports, a rise of (+3.69%) on the latest price of $3.930.14 functioned as a stimulus to the higher share price of the USDP.
Pax Dollar is the fast-growing stablecoin in the cryptocurrency-bearing business. The affiliated team is working aggressively to build new alliances. Paxos recently successfully created new collaborations with EDX Markets and Tokenized Commodities Council. It is among the most current improvements in this respect.
The main objective of Parox is to replace all other currencies in the capitalization of marketplaces.
How to buy Pax Dollar crypto?
These are critical characteristics and optimized steps to buy Pax Dollars.
1. Select an exchange
Finding a reliable cryptocurrency exchange ahead of Pax Dollars buy is vital. To launch commerce with them, one must foresee the trade safety and legality provisions to ensure smooth business functioning. We recommend Coinbase, Bitget, Bybit, Binance, and OKX. Among them, Bitget Exchange is the best choice.
Coin-Labs has signed a business partner agreement with Bitget Exchange in 2021. Therefore, if you sign up for the Bitget Exchange through Coin-Labs, you can participate in several events with highest commission level and bonuses of up to 4,163 USDT.
2. Make an account
After the satisfaction of examined marketplace, the next resort would be the registration and presentation of all required information to clear the identification.
3. Deposit funds
Deposit US dollars into the account with a credit card, debit card, or bank account. In this approach, you can transfer and receive cryptocurrency using the necessary techniques from the wallet.
4. Buy Pax Dollar
Once the money is added to the account, purchase Pax Dollar. Visit the exchange trading market website to examine the current price, such as CoinGecko, or CoinMarketCap. Visiting the website will help acquire Pax Dollars according to the market rates. At a given price, you might limit the order to buy.
5. Withdraw and store
It is crucial for the individual who recently purchased the Pax Dollars to store the tokens in their wallet. Private keys would provide aid in case of any frauds or rip-offs. There are limited values and trade laws, which differ from country to country.
Is Pax Dollar a Good Investment?
Without completing any analytical snoop, not many, unless you are a shaman, can estimate whether the USDP forecast is a good investment. It is alleged that various stablecoins have fallen while the minimal value at 1 USD remains the same. So it is vital to keep an eye on the market performance of stablecoins and the projected repercussions of any rule imposed by the regularity authority, notably associated with the cryptocurrency and financial market.
However, big monetary institutions such as Credit Suisse, Mastercard, Bank of America, and PayPal have immense trust in Paxos. It is a testimony of the company’s efforts in compliance, execution, and regulations to reach desired results.
Is Pax Dollar safe?
Initially, the Pax Dollar was created to safeguard investments and satisfy investors’ reservations. Hence, the Pax dollar is viewed as risk-free and secure. Pax Dollar, An ERC-20 token, can be utilized in the Ethereum ecosystem. On the Ethereum blockchain, it can also be acquired and exchanged, much like Tether and other cryptocurrencies. After all, The pax Dollar is backed by the US Dollar, the world’s largest fiat currency. It’s only as safe as the paper money bear.
We Coin-Labs provides only objective information about Pax Dollar.
Therefore, we are not responsible for the investment decision in Pax Dollar and the resulting loss.
Pax Dollar Basics
Here are some factors that investors should consider before investing in Pax Dollar.
| Cryptocurrency Features | Pax Dollar (USDP) |
|---|---|
| Publisher or Developers | Paxos |
| Headquarters (Registration Number) | USA |
| Symbol | USDP |
| Platform | ETH |
| Published Date (CMC Registration) | 2018-09-27 |
| Max Supply | No limit |
Reliability Score of Pax Dollar in 2023
These are indexes mesuring the investment reliability of Pax Dollar conducted by Coin-Labs.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 8.4 / 10.0 CAR |
| Communication Rate | 7.8 / 10.0 CR |
| Technology Transparency Rate | 8.1 / 10.0 TTR |
| Development Participation Rate | 8.0 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 3 Exchanges |
| Number of Available Pairs Worldwide | 93 Pairs |
| Market Cap of the Cryptocurrency | 1,141,794,222,518 KRW (Rank #58) |
The table above shows the result of investment suitability evaluation for Pax Dollar.
More descriptions about the rating items can be found here.
Pax Dollar Price
Here are the price and recent trading volume of Pax Dollar. (Data of 2023-03-30 14:22:30)
| Price Items | Price and Trading Volume of Pax Dollar |
|---|---|
| Pax Dollar Price | 1,300.325 KRW |
| Price Change 24h | -0.05% |
| Price Change 7d | -0.07% |
| Trading Volume 24h | 2,230,088,452 KRW |
| Trading Volume Change 24h | -49.13% |
Cryptocurrency Metadata
You can check the development status and social media information of Pax Dollar through the links in the table below.
| Metadata Source | URL |
|---|---|
| π Official Website | https://www.paxos.com/usdp/ |
| π White Paper | https://standard.paxos.com/whitepaper.pdf |
| π°οΈ Source Code (GitHub) | https://github.com/paxosglobal/pax-contracts |
| π¦ Twitter | https://twitter.com/PaxosStandard |
| π€ Reddit | |
| πΊ Message Board | https://medium.com/@PaxosStandard |
Where to Buy Pax Dollar
Here are the top ten world crypto exchanges where traders can buy Pax Dollar in 2023.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Listed | https://pro.coinbase.com/trade/PAX-USD |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/USDP-USDT |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/usdp_usdt |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Pax Dollar?
Pax Dollar price today is 1,300.325 KRW. Furthermore, the price of Pax Dollar has fluctuated by -0.05% from 24 hours ago, and by -0.07% from a week ago.
Where is Pax Dollar listed?
Currently, it is listed on a total of 3 among the world top 10 exchanges.
What is the market cap of Pax Dollar now?
Currently, Pax Dollar has a market cap of 1,141,794,222,518 KRW, which is ranking 58 among cryptocurrencies worldwide.
How much is the trade volume of Pax Dollar?
Currently, 878,084,065 USDP coins are circulating through 93 market pairs. As a result, in the last 24 hours, 2,230,088,452 KRW of USDP coins were traded in the market.
