PAXG is a cryptocurrency linked to gold.

PAXG is a gold-backed cryptocurrency, where each PAXG coin is equivalent to one gram of gold. The gold is stored in secure vaults, and the validity of the gold is verified through an independent auditing process.

The PAXG coin was launched in 2019 by Paxos, a financial technology company based in New York. The goal of launching the PAXG coin is to provide a safe and easy way to invest in gold.

The PAXG coin has many advantages, including:

1. Ease of investment: Investors can easily purchase PAXG coins without the need to buy actual gold.

2. Security: The gold is stored in secure vaults, and the validity of the gold is verified through an independent auditing process.

3. Speed: Investors can buy and sell PAXG coins quickly, without the need to wait for a delivery process.

4. Low cost: The costs associated with buying and selling gold are reduced, making investment in gold more accessible and profitable.

The PAXG coin has many potential uses, including:

1. Investment: Investors can buy PAXG coins as an investment in gold.

2. Hedge against inflation: Investors can buy PAXG coins as a means to protect their money from inflation.

3. Trading: Investors can buy and sell PAXG coins as a means of trading.