PAX Gold Price, News and Analysis (PAXG)

PAX Gold (PAXG) Frequently Asked Questions

What is PAX Gold?

PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. PAXG gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Customers are able to have fractional ownership of physical bars. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. PAXG is also available for trading on Paxos’ itBit exchange. PAXG will also be available on other crypto-asset exchanges, wallets, lending platforms and elsewhere within the crypto ecosystem. (Description provided by CryptoCompare)

How do I buy PAX Gold?

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 Gold.

Where can I get PAX Gold wallet?

PAX Gold produces its own wallet software that is available for download on its website, which allows you to store PAX Gold 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 Gold?

One PAX Gold (PAXG) is currently worth $1,760.29 on major cryptocurrency exchanges. You can also exchange one PAX Gold for 0.04121569 bitcoin(s) on major exchanges. The value (or market capitalization) of all available PAX Gold in U.S. dollars is $313.49 million.

What hashing algorithm does PAX Gold use?

PAX Gold is a coin that uses the ETH Token algorithm.

What coins are similar to PAX Gold?

The following coins use PAX Gold's ETH Token algorithm and proof-type: Binance USD, Chainlink, Polygon, Polygon, DREP, DREP [old], FTX Token, Dai, THETA, PancakeSwap, Crypto.com Coin, Axie Infinity, Aave, The Graph and Fantom.