PAX Gold

Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an ERC-20 token operating on the Ethereum blockchain, Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.

The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why Paxos Standard decided to create a cryptocurrency entirely backed by gold. According to the official whitepaper, Pax Gold was created to allow investors to buy indefinitely small amounts of gold through the cryptocurrency, thus virtually eliminating minimum buy limits for the commodity.

Who Are the Founders of Pax Gold?

Charles Cascarilla is the founder and chief executive officer of both Paxos Standard and Pax Gold. Cascarilla has an extensive career in capital management, which is what led him to explore the vast possibilities cryptocurrencies offer.

After acquiring a degree in finance from the University of Notre Dame, he co-founded Cedar Hill Capital Partners in 2005. This was the start of his career in finance and capital management. Since 2005, Mr. Cascarilla has participated in several traditional and blockchain-based venture capital projects.

What Makes Pax Gold Unique?

With a growing number of ERC-20 tokens available for purchase, Pax Gold stands out because it is backed by an already established commodity. One of the main goals for Pax Gold is to make investing in gold more accessible.

The official whitepaper states that “more than USD 3.5 trillion of the total gold available today is used solely for investment purposes;” however, a large portion of it is unavailable to small-time investors. This is where Pax Gold comes into play. Each PAXG token is backed by a fraction of a piece of London Good Delivery gold bar, stored in Brink’s gold vaults, which is the approved storage company by the London Bullion Market Association.

Through combining the security and liquidity offered by blockchain-based cryptocurrency, and the established name of gold as a physical commodity, Pax Gold brings a new investment opportunity to traders. PAXG has inspired other cryptocurrency developers to create gold-backed tokens as well.

Pax Gold (PAXG) is a gold-backed cryptocurrency launched by the creators of Paxos Standard (PAX) in September 2019. As an ERC-20 token powered by the Ethereum blockchain, Pax Gold is traded on a large number of exchanges and has become an affordable way for traders to start investing in gold.

The main goal of Pax Gold is to make gold more available for sale, as the physical commodity is not easily split or flexible in terms of transportation. This is why Paxos Standard decided to create a cryptocurrency fully backed by gold. According to the white paper, Pax Gold was created to allow investors to purchase of gold through cryptocurrencies, thereby virtually eliminating minimum restrictions on the purchase of the commodity.

Charles Cascarilla is the founder and CEO of Paxos Standard and Pax Gold. Cascarilla has an extensive career in wealth management which has led him to explore the vast opportunities that cryptocurrencies offer.

After earning a degree in finance from the University of Notre Dame, he co-founded Cedar Hill Capital Partners in 2005. This was the beginning of his career in finance and wealth management. Since 2005, Mr. Cascarilla has been involved in several traditional and blockchain-based venture capital projects.

With a growing number of ERC-20 tokens available for purchase, Pax Gold stands out because it is backed by an already installed product. One of the main goals of Pax Gold is to make investing in gold more affordable.

The white paper states that "more than $3.5 trillion of all the gold available today is used solely for investment purposes." however, most of it is not available to small investors. This is where Pax Gold comes into play. Each PAXG token is backed by a piece of London Good Delivery Gold Bar held at Brink Gold Vaults, which is a custodial company approved by the London Bullion Market Association.

With the combination of security and liquidity offered by a blockchain-based cryptocurrency and the established name of gold as a physical commodity, Pax Gold provides new investment opportunities for traders. PAXG has inspired other cryptocurrency developers to create gold-backed tokens.

How many Pax Gold (PAXG) coins are in circulation?

Pax Gold tokens have a one-to-one ratio with backed gold vault. This means that for every spinning ounce of gold covered by the Pax Gold protocol, there is a PAXG coin. In this sense, the number of PAXG tokens in circulation changes frequently.

At the time of writing, there are approximately 60,161 PAXG coins in circulation. However, the number of coins changes almost every minute as new investors appear, and Pax Gold increases the available gold for collateral.

How secure is the Pax Gold network?

In the white paper, Pax Gold CEO Charles Cascarilla explains that the PAXG protocol is built entirely on the Ethereum blockchain and protected by a proof-of-work (PoW) model. However, PAXG is not exclusively tied to Ethereum and can be launched on other blockchains as well.

PAX Gold price today is ₽138,934. with a daily trading volume of ₽1,094,687,090 We update our PAXG to RUB price in real time. PAX Gold is down .35 in the last 24 hours. The current CoinMarketCap rating is #159 with an income capitalization of ₽27,490,706,264. The circulating supply is 197,869 PAXG coins and max. no offer.

Proof-of-Work protocols are a classic approach to cryptocurrency mining, the most prominent example of which is Bitcoin. However, Ethereum has recently begun moving to a Proof-of-Stake (PoS) model, seeking, among other things, to reduce the resources required to mine tokens.

Pax Gold is an ERC-20 token, which means that it can be bought on many well-known exchanges and stored in a wide variety of cryptocurrency wallets.

Some of the most recommended exchanges for trading Pax Gold are Binance, BitZ, FTX, and Kraken. It is important to note that while Pax Gold is backed by physical gold bars, there is still risk associated with investing and trading PAXG.