Today, we are providing CoinLoaners with more options to get profit from stablecoins! Our team is happy to inform you Paxos Gold (PAXG) is now available in our Interest Account, so that users can earn from 5.2% annual interest on their deposits. You can easily raise it up to 7.2% per annum, given the Staking opportunity. The recently listed stablecoin can also be used as collateral for crypto-backed loans and as a regular asset in Wallet.
What Is Paxos Gold (PAXG)
PAXG is an ERC20 token on the Ethereum blockchain. This commodity-backed stablecoin is issued by Paxos, a for-profit company based in New York. Each token is backed by 1 troy fine ounce of 400 oz gold. Thus, its market value is meant to mirror the physical gold.
PAX token was approved by the New York financial regulator. Its popularity is growing due to the trust of millions of users. No wonder, market capitalization of PAXG has grown to over $60M in just 1 year.
How PAXG works on CoinLoan
From now on, the token gives CoinLoaners three options:
- You can deposit and withdraw the coin along with other assets in My Wallet.
- If you hold Paxos Gold, you can use it as collateral to borrow stablecoins or fiat assets in Instant Loans.
- You can generate up to 7.2% profit by depositing PAXG into your Interest Account.
We are happy to provide service to “digital gold” fans. If you want us to list your favorite crypto, vote here and wait for it to appear on CoinLoan!
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The information provided by CoinLoan (“we,” “us,” or “our”) in this text is for general informational purposes only. All investment and financial opinions expressed by CoinLoan in this text are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith. However, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information in this text.