What is PAX Gold (PAXG)?

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Bittime - In this ever-evolving world of the digital era,cryptohave become an integral part of various investment portfolios.

However, despite their increasing popularity, a drawback of traditional crypto assets is the lack of an underlying physical asset.

This is where PAX Gold (PAXG) emerges as an innovative solution that combines the security and stability of gold with the advantages of blockchain technology .

What is PAX Gold (PAXG)?

PAX Gold (PAXG) is a crypto token backed by physical gold. Each PAXG token represents ownership stake in one gram of pure gold stored physically in a trusted vault.

This means that each PAXG token has a value equivalent to the price of one gram of gold.

PAXG allows users to have direct access to physical gold without needing to hold or manage the gold directly.

PAX Gold is built on blockchain technology which enables high transparency and security.

Each PAXG token is linked to physical gold that is stored in a secure, regularly audited vault.

When someone buys or owns PAXG, they have rights to a portion of the gold stored in the vault.

With the continued growth of interest in crypto assets and concerns about global economic stability, PAX Gold has great potential to become an attractive investment option for investors looking for security and stability in their portfolio.

By combining the security of physical gold with the flexibility of crypto assets, PAX Gold offers an attractive solution for investing in gold-based assets digitally.

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PAX Gold (PAXG) Key Products & Features

PAX Gold (PAXG) is a crypto token tied to a physical asset, namely gold. Here are some of PAX Gold's main products and features.

1. Gold Linked to Blockchain

PAX Gold is a crypto token backed by physical gold. Each PAXG token represents ownership of a portion of a 400 troy ounce gold bullion held in a secure vault.

This allows users to have direct exposure to gold prices without needing to physically own physical gold.

2. Transparency and Safe

Built on blockchain technology, PAX Gold provides full transparency into the ownership and storage of the physical gold backing each token.

Information about gold storage vaults and regular audits are available to monitor in real-time, providing security and confidence to token holders.

3. Liquidity and Accessibility

Using blockchain technology, PAX Gold can be easily traded on various crypto exchanges around the world. This provides high liquidity for token holders who wish to buy, sell, or exchange PAX Gold for other crypto or fiat assets.

In addition, PAX Gold also enables global accessibility to the gold market, without geographic restrictions or time restrictions.

4. Fractional Ownership

One of the advantages of PAX Gold is its ability to allow gold ownership in smaller denominations.

By owning PAXG tokens, investors can own a fraction of what physical gold is worth, even with a relatively small investment.

This allows access to powerful hedging assets for investors with varying levels of capital.

5. Value Stability

Gold has long been recognized as one of the most stable hedge assets in investment.

With PAX Gold, token holders can experience the benefits of the stability of gold's value, while still taking advantage of the flexibility and liquidity benefits of digital assets.

Also Read: PAX Gold (PAXG): A New Way to Invest in Gold with Blockchain

What Are PAXG Tokens?

PAXG token is a crypto asset issued by the Paxos company. PAXG is the abbreviation of Paxos Gold. These are tokens backed by physical gold with the standard of 1 PAXG token being equivalent to 1 troy ounce of gold.

In other words, each PAXG token represents ownership of a portion of physical gold bullion stored safely in a vault.

The PAXG token is built on blockchain technology, providing token holders with full transparency and security regarding their ownership of gold.

Each PAXG token can be traced back to the underlying physical gold via smart contracts recorded on the blockchain. 

In addition, Paxos regularly audits the physical gold deposited to ensure that the amount of gold deposited corresponds to the number of PAXG tokens in circulation.

PAXG allows token holders to leverage the benefits of gold's intrinsic value as a stable hedge asset, while still leveraging the advantages and flexibility of crypto assets. 

This allows investors to have exposure to the price of gold directly without needing to physically own physical gold.

PAXG tokens can be traded on various crypto exchanges around the world, enabling high liquidity and global accessibility to the gold market.

Tokenomic Token PAX Gold (PAXG)

The tokenomics of PAX Gold (PAXG) involves the underlying economic structure of this token in its ecosystem.

Total Supply : Unlimited (based on physical gold stored)

Distribution:

• 1:1 with physical gold in the vault
• Created and redeemed by Paxos Trust Company

PAX Gold (PAXG) Fundamental Analysis

Source: Bittime

PAX Gold (PAXG) fundamental analysis involves evaluating the various factors that influence the value and long-term potential of this token. Here are some aspects to consider in PAXG fundamental analysis.

Strength:

• Easy way to own digital gold
• Supply is limited and audited
• Backed by Paxos Trust Company, a regulatory firm in New York

Weakness:

• Cryptocurrency price volatility
• Deposit and withdrawal fees

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Comparison of PAX Gold (PAXG) & Competitors 

The following is an example of a comparison between PAX Gold (PAXG) and several of its competitors in a table.

Founder & Team PAX Gold (PAXG)

PAX Gold was developed by Paxos Trust Company, a financial technology company founded in 2012. The Paxos Trust Company team consists of experts in finance, blockchain, and regulation.

Expert Opinion About PAX Gold (PAXG)

Expert opinions on PAX Gold (PAXG) are mixed. Some experts believe that PAX Gold is an innovative way to own digital gold, while others question the cryptocurrency's price volatility and storage costs.

Conclusion

PAX Gold is an attractive token for investors who want to own digital gold and profit from gold price fluctuations. However, investors should be careful about cryptocurrency price volatility and storage fees.

How to Buy PAX Gold (PAXG) on Bittime

You can buy and sell PAX Gold (PAXG) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

PAX Gold (PAXG) is available on Bittime with the market pair PAXG/IDR . To be able to buy PAXG IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy PAX Gold (PAXG) on Bittime . 

Monitor the price chart movements of PAX Gold (PAXG), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

 

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.