The live price of PAX Gold (PAXG) today is 2,066.09 USD, and with the current circulating supply of PAX Gold at 193,025.22 PAXG, its market capitalization stands at 398,807,573 USD. In the last 24 hours PAXG price has moved ? USD or 0.00% while ? USD worth of PAXG has been traded on various exchanges. The current valuation of PAXG puts it at #186 in cryptocurrency rankings based on market capitalization.
Learn more about the PAX Gold blockchain network and how it works or follow the price of its native cryptocurrency PAXG and the broader market with our unique COIN360 cryptocurrency heatmap.
PAX Gold (PAXG) is a digital asset that allows investors to own and manage physical gold through blockchain technology. Each PAXG token is backed by one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. This unique cryptocurrency offers the benefits of real gold ownership, such as value preservation over time, combined with the speed, liquidity, and divisibility of digital assets.
PAXG operates on the Ethereum blockchain, utilizing the Proof-of-Stake (PoS) consensus mechanism. This mechanism ensures transaction validation and network security, while also promoting energy efficiency.
As an ERC-20 token, PAXG leverages the robust and secure Ethereum blockchain. This allows for seamless integration with Ethereum-based wallets and platforms, and enables smart contract functionality.
PAXG, being an ERC-20 token, benefits from the scalability of the Ethereum network, allowing for high transaction throughput.
Each PAXG token is backed by physical gold stored in secure vaults. The Ethereum blockchain provides additional security through its decentralized and tamper-proof nature.
While PAXG transactions are transparent on the blockchain, user identities are protected, ensuring privacy.
PAXG leverages the decentralized Ethereum network, eliminating the need for intermediaries in gold trading and ownership.
PAXG is developed and managed by Paxos, a regulated financial institution with a proven track record in the digital asset industry. Paxos also ensures the governance and regulatory compliance of PAXG.
PAXG brings the traditional gold market into the digital age, offering a new way for investors to buy, sell, and trade gold. It can potentially disrupt the gold and cryptocurrency markets by bridging the gap between these two asset classes.
PAXG can be purchased on various cryptocurrency exchanges, including Paxos' own platform. It can be bought with USD, other cryptocurrencies, or even physical gold.
As an ERC-20 token, PAXG can be stored in any Ethereum-compatible wallet. For large amounts, hardware wallets are recommended for enhanced security.
Paxos has partnered with various companies in the financial and blockchain sectors to increase the accessibility and utility of PAXG.
Paxos continues to develop and improve PAXG, with plans to expand its ecosystem and forge more partnerships.
Like any digital asset, PAXG faces potential risks and challenges, such as regulatory changes and market volatility. However, its backing by physical gold provides a level of stability.
PAXG has a growing community of users and investors, attracted by the prospect of digital gold ownership.
Paxos is a regulated financial institution, and PAXG is fully compliant with relevant laws and regulations. Each token is backed by physical gold, audited regularly to ensure transparency and trust.
In conclusion, PAX Gold (PAXG) offers a unique and innovative way to own and trade gold, combining the stability of physical gold with the benefits of digital assets. It represents a significant advancement in the fusion of traditional and digital finance.