What is PAX Gold?
Pax Gold (PAXG) is tokenized gold on the Ethereum blockchain. Created by Paxos Trust Company, this stablecoin is fully-collateralized by physical gold at the ratio of one troy ounce to one PAXG token. It allows you to make money on the growth of the gold rate with minimal effort and is 100% backed by physical bars stored in the Brink's gold storage facility in London.
All PAXG owners have ownership of the physical gold of the Paxos Trust Company custodian and can exchange their tokens for physical bullion at any time with the company's partners.
Who Launched PAXG?
Paxos Trust Company is a regulated custodian and trust company that operates under the supervision of the New York State Department of Financial Services (NYDFS) and the United States Securities and Exchange Commission (SEC). In the crypto community, it became especially famous after the release of the stablecoin Paxos Standard, pegged to the US dollar.
How PAX Gold Works?
The coin provides users with all the benefits of reliable safe traditional assets, plus simplicity, convenience, flexibility, liquidity, efficiency, and low transaction costs inherent in cryptocurrencies. In general, you buy real gold simply and cheaply, store it conveniently and economically, move it quickly, trade and exchange it without problems. Pax Gold is the only gold token that gives ownership of allocated physical gold. On the official PAX Gold website, users can enter an Ethereum address and find out the physical characteristics of their gold bar or part of it, such as serial number, code and weight. Thus, even if something happens to Paxos, the Ethereum network will continue to operate, and you will retain your ownership of the bullion.
How to Buy PAX Gold?
With CoinLoan, you can use PAXG as collateral to get a stablecoin or cash loan. Another option is to deposit your PAX Gold tokens and get up to 12.3% profit per year. The third option on our platform is to exchange your assets for PAXG at CoinLoan Crypto Exchange.
To buy tokenized gold, you sign up for a digital wallet. After that, users opt for a bank card or a bank transfer to buy PAXG on the exchange. The stablecoin is later transferred to your PAX Gold wallet.
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You may use crypto, stablecoins or even fiat as a collateral asset. It will be held at our custodian and returned safely to you as soon as you repay your loan.
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