The price of gold has surged in recent years and many people have noticed the increase. Now, PAXG is looking to lower the entry barrier for those wanting to invest in gold by giving them a stablecoin backed by physical gold reserves. In this article, learn about what is Pax Gold (PAXG), Pax Gold (PAXG) price prediction and the benefits are for users on both ends of the investment spectrum.
In case you haven’t heard, there is a new cryptocurrency on the blockchain called PAX Gold (PAXG). It has an innovative solution that could make it easier for people to invest in gold without taking on the expenses of physical possession. If you have been considering investing in gold but couldn’t afford the high costs associated with owning it physically, this article can help you decide whether PAXG could be your next step.
What is Pax Gold (PAXG)?
Pax Gold (PAXG) is a cryptocurrency launched in September 2019. The developers of the Paxos standard are launching a new cryptocurrency on the Ethereum blockchain called Pax Gold (PAXG). The gold-backed token allows individuals to trade in gold and make a crypto investment simultaneously. With strong partnerships with large trading platforms, it is easy for investors to buy and sell PAXG which has given it an upsurge in popularity.
Overview Pax Gold (PAXG)
|Project name||PAX Gold (PAXG)|
|Total Supply||27,897 PAXG|
|Based on Digitized||GOLD|
|All-time high||$3,487.68 USD|
|Partners||Swissborg, Nexo, Mercado Bitcoin, SALT, Galaxy Digital, Brinks, Genesis, itBit, StoneX.|
Pax Gold (PAXG) price prediction?
PAX Gold was worth around $1500 at the start of its ICO days. Though it is less appreciated now, PAXG is still a promising asset for those who are willing to hold it long-term. Investors have had a positive ROI of 35% from when they first invested, PAX gold hit $2k USD, and at the time of its release in 2021, it was an unexpected price jump. It continues to hold this price even during extreme fear of market changes.
In the last 2 years it has hit $2k and then came back down to almost half of its initial value. We predict that PAXG will hit $2k again in the near future as it has been backed by real gold.
Who are the Founders of Pax Gold (PAXG)?
Charles Cascarilla has an extensive career in capital management, which led him to get into the field of Bitcoin.
After graduation, Cascarilla co-founded Cedar Hill Capital Partners in 2005. Since 2005, he participated in several traditional and blockchain-based projects.
What makes unique Pax Gold (PAXG)?
It can be hard to invest in gold when its price fluctuates too much and the cost of purchased gold is volatile. The Pax Gold project aims to fix these issues by making it possible for people to
Acquire a portion of gold reserves using tokens. Their current market cap means that their price should go up over time, making this an attractive investment opportunity.
There is a shortage of accessible gold for investors. Pax Gold will be the solution to this. Each PAXG token can be bought for less than one USD, and each token is backed by a fraction of a piece of the London Good Delivery gold bar, stored in Brink’s gold vaults.
Gold is a unique investment with an established name and reputation. However, Pax Gold brings new features to the table by combining blockchain-based cryptocurrency for security and liquidity. This has inspired other cryptocurrency developers to create gold-backed tokens as well, which will give investors opportunities in the future.
How many Pax Gold (PAXG) Coins are there in circulation?
The PAXG Token is a simple way to transact using gold. With this token, there is one PAXG Coin for every ounce of gold in circulation. Because the amount of PAXG Tokens in circulation changes frequently, this makes it easy to convert into any other cryptocurrency or physical assets.
The number of PAXG coins in circulation changes almost by the minute as new investors are introduced, and Pax Gold increases the available gold supply for backing. As a result, there are now about 33,660 PAXG coins in circulation.
Where can you buy Pax Gold (PAXG)?
Pax Gold is an ERC-20 token, meaning it can be bought on many established exchanges and you can store it in a wide range of wallets.
Pax Gold is a cryptocurrency backed by physical gold bars, but it is important to note the risk that comes with investment and trading in this asset. Some top recommended exchanges for trading it are Binance, Kucoin, FTX and Kraken.
Physical commodities are a standard part of most traditional investors’ portfolios, but PAXG is looking to offer a blockchain-powered alternative by utilizing the speed and liquidity of crypto assets. Cryptocurrencies have exploded in popularity in recent years, and their use as an investment vehicle is only going to increase. By providing a way for investors to access physical commodities through the use of blockchain technology, PAXG is hoping to capitalize on this trend and provide an innovative solution for those interested in investing in this area.