Pax Dollar Price, News and Analysis (USDP)

Pax Dollar (USDP) Frequently Asked Questions

What is Pax Dollar?

Paxos Standard (PAX) is a stable coin owned by Paxos Trust Company, LLC. It combines the stability of the dollar with the efficiency of blockchain technology.  Paxos is regulated by the New York State Department of Financial Services, which has deep experience and knowledge as an intermediary between fiat and digital assets. Built on the Ethereum blockchain, it offers the benefits of crypto-assets such as immutability and decentralized accounting. Since it is fully collateralized by dollars, Paxos Standard offers a liquid and digital alternative to cash, available 24/7 for instantaneous transaction settlement and fully redeemable. Paxos Standard has been designed as an Ethereum token written according to the ERC-20 protocol so that anyone with an Ethereum wallet will be able to send and receive Paxos Standard tokens. The smart contract has been audited by smart contract auditors Nomic Labs and ChainSecurity, and nationally top-ranking auditing firm Withum will perform attestation procedures on their token and bank account balances on a month-end basis. Why Use Paxos Standard: Hold digital assets in PAX to limit exposure to volatilitySettle the cash component of digital asset transactions in dollar-equivalent denominationsMove between digital assets with ease and lower feesSettle transactions outside of traditional banking hoursTransact internationally more efficiently (Description provided by CryptoCompare)

How do I buy Pax Dollar?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Pax Dollar.

Where can I get Pax Dollar wallet?

Pax Dollar produces its own wallet software that is available for download on its website, which allows you to store Pax Dollar on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Pax Dollar?

One Pax Dollar (USDP) is currently worth $1.00 on major cryptocurrency exchanges. You can also exchange one Pax Dollar for 0.00002361 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Pax Dollar in U.S. dollars is $945.73 million.

What hashing algorithm does Pax Dollar use?

Pax Dollar is a proof of work (PoW) coin that uses the ETH Token algorithm.

How do I mine Pax Dollar?

Pax Dollar can be mined using specialized mining software. XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards. CCMiner is another popular mining tool for computers with NVIDIA graphics cards. In addition to having mining software, you will need a Pax Dollar and access to a mining pool that pools your effort with other miners and a wallet to store the Pax Dollar that you earn from mining. Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

What coins are similar to Pax Dollar?

The following coins use Pax Dollar's ETH Token algorithm and proof of work (PoW) proof-type: Arweave, The Transfer Token, Paxos Standard, Carry, SOLVE, Project Pai, Ripio Credit Network, HoryouToken, Origin Sport, MARK.SPACE, Smartshare, Vezt, MIB Coin, WITChain and BitClave.