What is Pax Gold Crypto?
Pax Gold(PAXG) is a cryptocurrency that is backed by physical gold reserves. As an ERC-20 token, PAX Gold (PAXG) is compatible with the Ethereum blockchain and other Ethereum-based networks. It is a stablecoin and has its value tied directly to the real-time market value of physical gold. Each PAX Gold token is equivalent to one troy ounce of a 400-ounce London Good Delivery gold bar stored in a secure gold vault.
Who created Pax Gold?
Pax Gold was created by Paxos Trust Company, a New York based Fintech company founded in 2012 by Charles Cascarilla and Rich Teo. Their mission is to modernize finance by harnessing the power of Blockchain technology to offer innovative solutions for individuals and institutions. They specialize in building infrastructure for the exchange of cryptocurrencies.
Where is Pax Gold located?
Paxos Trust Company, the creator of PAX Gold, is located in New York, USA. The company provides a platform for secure and compliant digital assets, and operates with the approval and oversight of regulators including the New York State Department of Financial Services.
Where to buy PAXG?
You can buy PAX Gold (PAXG) on various cryptocurrency exchanges and OTC platforms. Some popular exchanges that support PAXG trading include Binance, Bitfinex, Kraken, and Gemini. It is also available for purchase on OTC platforms such as Circle and itBit. It’s important to compare the prices, fees, and regulations of different platforms before buying PAXG.
PAXG Protocol Price Prediction
Predictions for the price of the PAXG token generally point in the positive direction with an expected 1800% to 2000% growth between now and 2030.
But as always, the cryptocurrency market is highly volatile and the actual prices at the time may vary slightly or largely from the predictions.
Where to stake PAXG Crypto?
PAX Gold (PAXG) can be staked fairly easily on several blockchain platforms and decentralized finance (DeFi) protocols that support staking. First, you choose an exchange where you want to stake your Mina tokens e.g Binance, Bitget, CoinList, Kraken, Nexo, etc. Staking PAXG involves holding the asset in a staking wallet and participating in the validation and verification of transactions on the blockchain. In return, stakers can earn rewards in the form of new PAXG tokens.
What is the stock price of PAXG?
PAX Gold (PAXG) is a digital asset and is not traded on traditional stock exchanges. The price of PAXG is determined by market supply and demand and is constantly changing. You can find the latest price of PAXG on various cryptocurrency exchanges, market data providers, and financial websites that track the prices of digital assets like coinmarketcap, coinbase, crypto.com, etc.
How to buy Pax Gold crypto
Here’s a 5 step guide to buying PAXG on the Bitget exchange.
Step 1: Opening a Bitget account
Go to the Bitget website and click on the “Register” button to create an account. After you have registered and you’re logged in, you will need to complete the account verification process. You’ll be required to complete the account verification process (or KYC) which will involve providing your personal information and proof of your identity to get your account verified.
Step 2: Funding Your Account
Once account verification is complete, your account is now fully active and you will need to deposit funds into the account so you can start transacting. To do this, click on the “Deposit” button and then choose your most preferred method from the multiple payment methods provided by Bitget. Bitget supports several options for payment such as cryptocurrencies and different fiat currencies. The funded amount is added to your account as USDT.
Step 3. Look for the PAXG trading pair
After adding the funds successfully, go to the trading page of the website and look for the PAXG/USDT trading pair. Choose the pair, then either make a limit order at the desired price or put an order to purchase PAXG tokens at the going rate.
Step 4: Check your order
Check the details of your order to ensure everything is correct. Simply click the “Buy” button to confirm your order. The PAXG tokens will be credited to your Bitget account after your order has been fulfilled.
Step 5: Withdraw your PAXG tokens
Once your PAXG tokens have been credited to your account, you may either withdraw them to your wallet for safekeeping or keep them on the platform for future trade.
Is Pax Gold protocol a Good Investment?
PAXG may be a worthwhile investment. It enables you to hold gold in tokenized form as a synthetic asset. Owning digital gold offers the benefits of cryptocurrencies (such as fungibility and tradeability) without the disadvantages of holding a physical commodity (e.g. storage costs and limited transportability). For instance, unlike conventional gold exchanges, PAXG enables users to purchase and sell fractional or minuscule amounts of gold.
The initiative does, however, include some dangers, just like every other crypto project. To ensure that the token is entirely backed by gold bars, it is advised to regularly verify Paxos’s monthly attestation reports.
Is Pax Gold safe?
Being a stablecoin, PAXG has all the perks that come with stablecoins such as relatively stabler prices compared to the general cryptocurrency market and being blacked by real physical assets, Pax Gold can be considered safe. But as always, let’s keep in mind the volatile and unpredictable nature of the cryptocurrency market.
We Coin-Labs provides only objective information about Pax Gold.
Therefore, we are not responsible for the investment decision in Pax Gold and the resulting loss.
Pax Gold Basics
Here are some factors that investors should consider before investing in Pax Gold.
| Cryptocurrency Features | Pax Gold (PAXG) |
|---|---|
| Publisher or Developers | Paxos Trust Company |
| Headquarters (Registration Number) | USA |
| Symbol | PAXG |
| Platform | ETH |
| Published Date (CMC Registration) | 2019-09-26 |
| Max Supply | No limit |
Reliability Score of Pax Gold in 2023
These are indexes mesuring the investment reliability of Pax Gold conducted by Coin-Labs.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 5.5 / 10.0 CAR |
| Communication Rate | 6.4 / 10.0 CR |
| Technology Transparency Rate | 6.6 / 10.0 TTR |
| Development Participation Rate | 5.2 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 4 Exchanges |
| Number of Available Pairs Worldwide | 112 Pairs |
| Market Cap of the Cryptocurrency | 698,299,532,521 KRW (Rank #83) |
The table above shows the result of investment suitability evaluation for Pax Gold.
More descriptions about the rating items can be found here.
Pax Gold Price
Here are the price and recent trading volume of Pax Gold. (Data of 2023-03-30 14:42:30)
| Price Items | Price and Trading Volume of Pax Gold |
|---|---|
| Pax Gold Price | 2,574,246.045 KRW |
| Price Change 24h | -0.42% |
| Price Change 7d | -0.63% |
| Trading Volume 24h | 17,098,738,692 KRW |
| Trading Volume Change 24h | 31.66% |
Cryptocurrency Metadata
You can check the development status and social media information of Pax Gold through the links in the table below.
| Metadata Source | URL |
|---|---|
| π Official Website | https://www.paxos.com/paxgold/ |
| π White Paper | https://www.paxos.com/pax-gold-whitepaper |
| π°οΈ Source Code (GitHub) | https://github.com/paxosglobal/paxos-gold-contract |
| π¦ Twitter | https://twitter.com/paxosglobal |
| π€ Reddit | |
| πΊ Message Board | https://medium.com/paxos |
Where to Buy Pax Gold
Here are the top ten world crypto exchanges where traders can buy Pax Gold in 2023.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/PAXG_BTC?theme=dark&type=spot |
| Coinbase | Not listed | |
| Kraken | Listed | https://trade.kraken.com/charts/KRAKEN:PAXG-BTC |
| KuCoin | Listed | https://www.kucoin.com/ko/trade/PAXG-USDT |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Listed | https://www.bybit.com/en-US/trade/spot/PAXG/USDT |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Pax Gold?
Pax Gold price today is 2,574,246.045 KRW. Furthermore, the price of Pax Gold has fluctuated by -0.42% from 24 hours ago, and by -0.63% from a week ago.
Where is Pax Gold listed?
Currently, it is listed on a total of 4 among the world top 10 exchanges.
What is the market cap of Pax Gold now?
Currently, Pax Gold has a market cap of 698,299,532,521 KRW, which is ranking 83 among cryptocurrencies worldwide.
How much is the trade volume of Pax Gold?
Currently, 271,264 PAXG coins are circulating through 112 market pairs. As a result, in the last 24 hours, 17,098,738,692 KRW of PAXG coins were traded in the market.
