$PAXG PAXG (Pax Gold) is a cryptocurrency token backed by real physical gold. Here's a simple breakdown:
Issuer: Created by Paxos Trust Company.
Backing: Each PAXG token is backed 1:1 by one fine troy ounce of gold stored in LBMA-approved vaults.
Purpose: Lets you own gold digitally without needing to store or secure it physically.
Blockchain: Runs on Ethereum (ERC-20 token).
Redeemable: Token holders can redeem PAXG for physical gold or fiat through Paxos.
So, PAXG is a way to trade and invest in gold using blockchain technology.
