Pax Gold (PAXG) is a gold-backed cryptocurrency, launched in September 2019 as an ERC-20 token operating on the Ethereum blockchain, Pax Gold is tradable on many exchanges. The main objective of Pax Gold is to make gold more tradable, more accessible. Because physical gold is not easily divisible or flexible. According to the official Whitepaper, PAXG was created to allow investors to purchase small amounts of gold through cryptocurrency, thereby eliminating minimum purchase limits. While combining the security and liquidity offered by cryptocurrency with a safe haven! Pax Gold stands out because it is backed by an already established commodity. “Over $ 3.5 trillion of the total gold available today is used for investment purposes only” but the majority is not accessible to small investors. This is where Pax Gold comes in. Each PAXG token is backed by a fraction of a piece of gold bullion, stored in physical safes. Pax Gold tokens are one-to-one with gold storage. This means that there is one PAXG coin for every ounce of gold stored in the vault. This is why the quantity of PAXG tokens changes often.
You can invest in Pax Gold through Binance