Is Pax Gold a stablecoin backed by physical gold?
Hamrick BellDec 24, 2021 · 3 years ago3 answers
Can you provide more information about Pax Gold? Is it really a stablecoin backed by physical gold?
3 answers
- Dec 24, 2021 · 3 years agoYes, Pax Gold (PAXG) is indeed a stablecoin that is backed by physical gold. Each PAXG token represents one fine troy ounce of London Good Delivery gold stored in professional vault facilities. This ensures that the value of PAXG is directly linked to the price of gold, providing stability and security for investors.
- Dec 24, 2021 · 3 years agoAbsolutely! Pax Gold is a stablecoin that is fully backed by physical gold. This means that for every PAXG token in circulation, there is an equivalent amount of physical gold stored in secure vaults. This unique feature makes PAXG a reliable and transparent investment option for those looking to gain exposure to the price of gold without the hassle of owning and storing physical gold.
- Dec 24, 2021 · 3 years agoIndeed, Pax Gold is a stablecoin backed by physical gold. It is an ERC-20 token built on the Ethereum blockchain, and its value is directly tied to the real-time market price of gold. This means that as the price of gold fluctuates, the value of PAXG will also fluctuate accordingly. It's a great way for investors to diversify their portfolio and hedge against market volatility.
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