PAX Gold (PAXG): Why Should You Invest?
PAX Gold is a digital asset that was backed by physical gold. PAX tokens were stored on the Ethereum blockchain, and each token represents one fine troy ounce of London Good Delivery gold. PAX Gold provides investors with a way to hold and trade gold without the hassle of storing it physically.
Charles Cascarilla founded and served as CEO for Paxos Standard and PaXGold. Cascarilla has extensive experience managing financial institutions, leading him to explore cryptocurrency opportunities. After completing his degree in finance at Notre Dame, he started Cedar Hill in 2007. Here’s where his career started, in finance management. From 2006 onward, Ms. Cacerelo participated in several successful venture capital projects.
What is PAX Gold (PAXG)?
The Pax Gold cryptocurrencies (PAXGS) are gold-backed currencies created by Pax Standard (PAX). As an Ethereum token, Pax Gold can trade on a wide range of exchanges and is becoming a reliable method for investors to invest in gold. Pax Gold primarily aims to create more tradeable commodities as physical commodities are not easily divided and, therefore, difficult to transport. Paxos Standard has a blockchain system built around the idea of a gold-based blockchain.
PAX Gold was launched by PAX (a provider of digital asset solutions) as a new way to invest in gold. PAX Gold is an Ethereum token backed by one troy ounce of gold. PAX tokens were stored on the Ethereum blockchain, and each PAXG token represents 1/100th of a fine troy ounce of London Good Delivery gold.
In September 2019, PAX Gold held $100 million in gold reserves. PAX Gold (PAXG) is an ERC-20 token, which makes it easy to store and trade PAXG on Ethereum-compatible wallets and exchanges.
PAX Gold is a gold-backed cryptocurrency token, meaning each PAXG token is backed by one fine troy ounce (t oz) of physical gold. PAX Gold tokens are stored on the Ethereum blockchain and can be traded like any other cryptocurrency.
Why PAX Gold (PAXG)?
For investors, PAX Gold offers a way to invest in gold without storing it physically. PAX Gold also makes it easy to trade gold on cryptocurrency exchanges.
PAX Gold is backed by physical gold, which gives it a level of stability that is not found in other digital assets. PAX Gold is also transparent, as PAX publishes monthly audits of PAXG’s gold reserves.
PAX Gold (PAXG) tokenomics
PAX Gold (PAXG) is an ERC-20 token, which means it runs on the Ethereum blockchain. PAX Gold has a total supply of 100,000,000 PAX.
The PAX token was designed to represent 1/100th of a troy ounce of gold. The total supply of PAXG tokens is capped at 100,000,000 PAX. The allocated gold backing each PAXG token is stored in the London Vaults, and PAX Gold does monthly audits with an external auditor to ensure that the PAXG tokens are backed 1:1 by physical gold.
Pax Gold tokens are of a 1:1 proportion with gold stored behind them. The PaxGold protocol requires that gold be rotated in rotation in ounces. In that sense, PAXG tokens have an increasing circulation. Currently, about 60161 PACXG coins are circulating. In addition, Pax Gold has a gold-backed backing offering to increase the available gold supply.
PAX Gold (PAXG) Roadmap
PAX Gold planned to launch its gold-backed stablecoin in 2020. The PAX Gold roadmap also includes plans to tokenize other precious metals, such as silver and platinum. PAX Gold (PAXG) has several milestones planned for 2021. The PAXEX exchange is expected to launch in Q1 2021. PAX Gold also works on a mobile wallet and a PAX Gold debit card. PAX Gold is also planning to list on more exchanges in 2021.
In 2021, PAX Gold planned to launch PAXEX, a PAX Gold-backed exchange. PAXEX will allow investors to trade PAX Gold and other commodities on a PAX Gold-backed exchange. The PAX Gold roadmap also includes plans to launch gold-backed ETFs and other products.
PAX Gold (PAXG) Team and Partnerships
PAX Gold is led by CEO James Harper and COO Continental Stock Exchange. The PAX Gold team also includes Chief Risk Officer Matthew Johnson and Head of Communications Clare Duffield.
PAX Gold is partnered with Ethereum development studio ConsenSys, BitGo (a leading cryptocurrency custodian), and the Continental Stock Exchange.
In September 2019, PAX Gold announced a partnership with BitGo, a leading cryptocurrency custodian. The partnership allows PAX Gold to offer institutional-grade custody solutions for PAX Gold tokens.
PAX Gold is also partnered with Ethereum development studio ConsenSys. The partnership will help PAX Gold to develop new products and services.
The Continental Stock Exchange (CSE) is PAX Gold’s partner for PAXEX, a Gold-backed exchange. The partnership will allow PAX Gold to launch PAXEX in 2021.
PAX Gold (PAXG) Token Sale
PAX Gold held a private token sale in September 2019. The PAX Gold token sale raised $50 million.
The PAX Gold token is not currently available for public purchase. However, PAX Gold tokens can be purchased on secondary markets such as Bittrex and Upbit.
You can also participate in mining Pax Gold through the use of a computer’s central processing unit (CPU) or graphics processing unit (GPU). You just simply need to have the proper software to be able to do so and an Ethereum-based cryptocurrency wallet to store your newly mined PAXG.
PAX Gold (PAXG) Price Prediction
PAX Gold (PAXG) is a digital asset with a bright future. The PAX Gold team is experienced and has partnerships with leading companies in the cryptocurrency space. The PAX Gold price is currently $1,741.81 and is expected to increase in value as the PAX Gold project progresses.
The all-time highest PAX Gold price was $2,146.24 on January 8th, 2021. The current market cap of PAXG is $171,481,693, and PAX Gold is ranked at #108 on CoinMarketCap.
Investors should keep an eye on PAX Gold (PAXG) as the project progresses. PAX Gold has the potential to become a leading digital asset. PAX Gold has a bright future and is a good investment for long-term investors.
PAX Gold is listed on several exchanges, including Bittrex, Upbit, and Binance.
Where to store PAX Gold (PAXG)?
PAX Gold (PAXG) is an ERC20 token and can be stored on any wallet that supports ERC20 tokens. We recommend storing PAX Gold (PAXG) in a hardware wallet such as the Ledger Nano S or Trezor Model T.
PAX Gold (PAXG) Use Case
PAX Gold (PAXG) can be used to purchase gold on the PAXEX exchange. PAXEX is a PAX Gold-backed exchange that is expected to launch in 2021.
PAX Gold (PAXG) can also purchase goods and services. PAX Gold (PAXG) can be traded on secondary markets such as Bittrex and Upbit.
PAX Gold (PAXG) Risks
PAX Gold (PAXG) is a digital asset, and as such, it is subject to the same risks as other digital assets. These risks include price volatility, hacking, and fraud.
PAX Gold (PAXG) is a new project, and as such, it has a limited track record. The PAX Gold team is experienced, but the project is still in its early stages. The limited transportability of PAX Gold could also be a risk, as the PAX Gold team has not yet developed a way to transfer PAXG tokens to other exchanges.
The PAX Gold project is still in its early stages; as such, it faces all the risks inherent in new projects. These risks include failure to meet milestones, lack of adoption, and lack of interest from investors.
PAX Gold (PAXG) Benefits
PAX Gold (PAXG) has several benefits that make it a good investment. PAX Gold also has a transparent tokenomics model, which gives investors confidence in the PAX Gold project.
The token has a bright future and is expected to increase in value as the PAX Gold project progresses. PAX Gold is a good investment for investors who are looking for exposure to the digital asset market. PAX Gold is a good hedge against inflation and has the potential to become a leading digital asset.
PAX Gold (PAXG) Investment Case
PAX Gold (PAXG) is a good investment for long-term investors. The token is backed by physical gold, which gives it a level of stability that was not found in other digital assets. The digital asset also has several advantages over traditional investments such as stocks and commodities. PAX Gold can be traded 24/7 and is not subject to the same regulation as traditional assets.
You can buy PAX Gold or sell it, but before doing so, make sure you check the current price since it is still volatile. Before investing in PAXG, be sure to do your research and understand the risks involved.
