What is PAX Gold (PAXG) Coin?

In this article, we'll try to answer the question: What is PAXG coin? We'll also learn how to buy an ounce of gold with a cryptocurrency pegged to gold.

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Basic Information About PAX Gold (PAXG) Coin

Project Name: PAX Gold (PAXG) Coin

Sector: Stablecoin (Tokenized Gold)

Website: https://www.paxos.com/paxgold/

Total Supply: 254,217.92 PAXG

Maximum Supply: *

Supported Blockchain Networks: Ethereum Blockchain, BNB Blockchain, Solana Blockchain Networks, etc.

Available Exchanges: Binance Global, MEXC, Kucoin, HTX, Gateio, etc.

What is PAX Gold (PAXG) Coin?

Introduction

In this article, I will introduce you to PAX Gold, also known as PAXG. It operates on a blockchain network and is a type of stablecoin. However, it is not pegged to a fixed fiat currency; instead, 1 ounce = approximately 33.10 grams of gold.

Recently, one of the most common complaints of those who accumulate grams of gold, whether through physical or digital channels, is the astronomical spreads they encounter during buy and sell transactions. This is where PAXG steps in, relieving us of this burden and opening a new door for those who want to invest in ounces of gold.

What is PAXG?

PAX Gold Coin (PAXG) is a cryptocurrency backed by real gold. Created and managed by Paxos, PAX Gold operates on a system where each token corresponds 1:1 to real-world physical gold reserves. This way, PAX Gold holders physically own the gold they hold through the cryptocurrency.

Each PAX Gold token is equivalent to 1 Troy ONS (31.1035 grams) of pure gold produced by recognized gold refineries on the London Banking Metals Market (LBMA). These gold reserves are regularly audited and verified by Paxos. Paxos also offers holders the ability to physically convert each PAX Gold token into gold.

The PAX Gold Coin is easily transferable via blockchain technology, granting holders ownership of gold anywhere in the world. It also offers benefits such as instant transactions, low costs, and convenience by leveraging the advantages of the cryptocurrency world.

PAXG can be thought of as a combination of gold and cryptocurrencies. It offers a stable asset based on a precious commodity like gold, while blockchain technology enables fast and secure transactions. It's important to remember that just as gold prices fluctuate, the value of PAX Gold Coin can also be affected by fluctuations in gold prices.

What is PAXG USDT?

1 ounce, or 33.10 grams, of gold is equal to 1 PAXG coin. We know that 1 USDT = 1 USD US dollar. You can buy PAXG in dollars with the PAXG/USDT pair.

What is OUNCE?

Let's interject here and learn what an OUNCE is. "OUNCE" (also known as a Troy ounce) is a unit used to measure precious metals. It is widely used in the trade of metals such as gold, silver, platinum, and palladium.

One OUNCE is internationally accepted as 31.1035 grams.

In the gold market, prices are often quoted per ounce. For example, the phrase "gold price per ounce" refers to the value of one ounce of gold in dollars. It's known as the dollar value of an ounce of gold. For example, if the dollar loses value against gold, the ounce gains value in the XAU/USD pair.

Where to Buy PAX Gold (PAXG) Coin?

PAX Gold (PAXG) Coin can be purchased at the top of the exchanges: Binance, MEXC, KuCoin, HTX, Gateio and many more. You can register to the exchanges listed below in order and open an account and invest in the dex sector by purchasing PAX Gold (PAXG) coin.

Click to Register on MEXC Exchange and Buy PAX Gold (PAXG).

Click to Register on KuCoin Exchange and Buy PAX Gold (PAXG).

Click to Register on HTX Exchange and Buy PAX Gold (PAXG).

Click to Register on Gate io Exchange and Buy PAX Gold (PAXG).

Click to Register on Bybit Exchange and Buy PAX Gold (PAXG).

Click to Register on Binance Exchange and Buy PAX Gold (PAXG).

Click to Register on OKX Exchange and Buy PAX Gold (PAXG).