Pax Dollar

Reasons to Buy Pax Dollar

• It is one of the world’s leading stable coins.
• It is an Ethereum based ERC-20 token.
• It has a greater rate of transactions per second.
• It has a market capitalization of more than 960 million.
• It has no maximum supply of PAX tokens.

Paxos Standard Token(PAX) was launched in the year 2018. It was co-founded by Charles Cascarilla and Rich Teo. It is a fiat-collateralized stable coin backed by the USD held by the company at the U.S. depository institutions. Alongside GUSD and BUSD, it is one among the three stable coins approved by the Wall Street regulators. It was devised to build a larger and efficient financial ecosystem with better speed and security.

PAX is the official native token offered by Paxos used as a mode of providing incentives.

Things to consider before buying Pax Dollar

• It is an open-source platform that allows anyone to see through the code.
• Being a stable coin, it provides greater stability in terms of investment.
• Its main aim is to stabilize the US dollar using blockchain technology. Henceforth, it provides a smooth procedure to exchange USD with PAX.

FAQ's

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.