PAX Gold ($PAXG ) is a token backed by physical gold that operates on the blockchain #Ethereum . It allows people to own and trade gold in digital form, lowering barriers to entry for gold investments and offering the convenience of digital transactions.
Here are some interesting facts about PAX Gold:
Backing by physical gold:
Each PAXG token represents a share of a real London Good Delivery gold bar stored in secure vaults.
Tokenization of gold:
PAXG utilizes blockchain technology to tokenize gold, allowing ownership to be divided into small shares accessible to a wide range of investors.
Lowering the entry threshold:
Buying PAXG requires lower costs compared to acquiring physical bars, including storage and transportation costs.
Transparency and traceability:
Every transaction with PAXG is recorded on the blockchain, ensuring transparency and the ability to trace token movements.
Exchange for gold:
PAXG holders can exchange their tokens for physical gold or its cash equivalent at any time.
Regulated platform:
Paxos, the company behind PAXG, is a regulated financial institution.
Integration with DeFi:
PAXG can be used on various decentralized finance (DeFi) platforms and exchanges.
Portfolio diversification:
PAXG allows investors to diversify their portfolios by adding digital gold.
Serial numbers of bars:
PAXG tokens are assigned serial numbers corresponding to specific gold bars, allowing owners to verify bar details.
Security:
All Paxos client assets, including PAXG, are stored separately from the company's assets and protected from bankruptcy.
