PAX Gold (PAXG) is intend! to be a secure and transparent proxy for physical gold. PAXG is a cryptocurrency creat! and manag! by Paxos Trust Company . Like USDT, PAXG coin can be consider! one of the cryptocurrencies safe havens.
Paxos Trust Company is an institutional cryptocurrency platform regulat! and supervis! by the New York Department of Banking. The company aims to provide new solutions to traditional financial systems using cryptocurrency technology. PAXG is one of Paxos ‘s most important products and reflects the company’s vision.
Key Features of PAXG
PAXG is a crypto asset where each token is equivalent to 1 special lead troy ounce of actual physical gold . This linkage allows PAXG to be directly link! to gold prices. Paxos claims that it physically stores all of the gold behind each of its PAXG tokens and that it is regularly audit! by independent third parties.
This structure makes PAXG an alternative to traditional gold investments. Instead of holding physical gold, investors can indirectly invest in gold by purchasing PAXG tokens. PAXG can gain or lose value in line with changes in gold prices, providing investors with exposure to gold.
PAXG’s Ethereum Integration
PAX Gold is built on the Ethereum blockchain in accordance with the ERC-20 standard. This allows PAXG to take advantage of all the features of the Ethereum network and be us! in the Ethereum ecosystem. frequently ask! questions about etc coin? Operating on the Ethereum network, PAXG enables fast, secure and low-cost cryptocurrency transactions.
Smart contract, DeFi, and other advanc! features be numbers offer! by the Ethereum network expand the functionality of PAXG. Investors can use PAXG tokens in various DeFi applications on the Ethereum network, borrow, lease, or exchange them for other crypto assets .