Pax Gold overviewJudy Rubio
Pax Gold is tokenized gold. The system is built on the Ethereum blockchain. The precious metal is stored in Brink's vault in London. Cryptocurrency owners can apply to it at any time and exchange their coins into gold bars.
About Pax Gold developer
Paxos Trust Company is a regulated custodian that operates under the US SEC and the New York state Department of financial services supervision. The company became famous for the Paxos Standart stablecoin development, which is pegged to the US dollar. You can read more about different tokens classifications in "Types of tokens" article.
Using Pax Gold allows you to get all advantages of safe assets in addition with convenience, simplicity, high transactions speed and minimum operating costs. You can buy digital gold at a favorable price. Its storage is convenient and does not require large expenses; in a couple of moments the asset can be transferred anywhere in the world, unlike real gold.
The cryptocurrency key features
The PaxGold coin gives the right to receive a troy ounce of gold (about 31 grams). The project was released in September 2019. The coin supply amounted to 2808 coins, and the total capitalization - to 4.35 million dollars. The cryptocurrency price depends on the gold rate. It can be exchanged any time for 400 oz bars, with the mass fraction not less than 99.5%.
You may specify the Ethereum address on official PaxGold website to get information about physical parameters of your gold bar (most often about part of it). The service provides information about the serial number, weight, and code.
Other features of Pax Gold:
- Licensing and regulatory approvals. The company is checked by international auditors every month.
- The right of ownership on real gold. This is the only token that can be exchanged for a precious metal ingot.
- Accreditation by the LBMA. No other token is registered on the London precious metals market.
- Minimum fee. When buying a token on the official website, you will pay not more than 1% of the order amount. The commission is sent to Brink's, which pays for metals storage and protection. You are not charged for the services.
- Reliability. Even if Paxos goes bankrupt, the Ethereum network will proceed functioning and users will remain being gold bars owners.
Pax Gold has already achieved success in the short time of its existence. You can sell digital gold both - on several exchanges and on the official company website as well. The British get a special advantage, since they can exchange tokens to precious metal in London any time. The project is impressive and promising. The minimum purchase amount is $ 15. Why not to try yourself as a digital gold investor? This is challenging. As well, it provides you with valuable experience and allows you to earn some extra funds in case of precious metal price goes up!
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