PAX Gold Price in India (PAXG)

PAX Gold is an asset-backed token where one token represents one fine troy ounce of gold, stored in LBMA vaults in London. It offers investors a cost-effective way to own investment-grade physical gold while leveraging the benefits of blockchain technology. PAX Gold’s native token is PAXG, an ERC-20 token on the Ethereum blockchain. 

PAX Gold was launched by the creators of Paxos Standard (PAX) in September 2019.

• PAXG token: The PAXG token is a digital asset backed 1:1 by investment-grade physical gold.

• Low cost and easy accessibility: PAXG helps investors avoid insurance, transportation, and storage costs of physical gold. Low minimum purchase amount and zero storage fees.

• Ethereum-based: PAX Gold runs on the Ethereum blockchain. 

• Compatible with Ethereum-based wallets: PAXG, an ERC-20 token, is compatible with Ethereum-based wallets.

PAX Gold (PAXG) is an ERC-20 stablecoin backed by physical gold reserves. PAXG changes the traditional way of investing in gold, giving investors the opportunity to invest in physical gold with the benefits of blockchain. 

You can buy PAXG from crypto platforms like CoinSwitch.

• PAXG can be bought and traded on crypto platforms like CoinSwitch. 

• PAXG gold token can be redeemed for USD at current gold market prices at any time.

• PAXG acts as a hedge against inflation and market volatility.

• PAXG can be used in DeFi platforms for staking, lending, or yield farming.

• PAXG token, backed by physical gold, is highly liquid and can be traded 24/7 on various exchanges.

• PAXG token is regulated and approved by the New York State Department of Financial Services.

• PAXG token can be easily transferred across borders, like other cryptos.

• PAXG is subject to market volatility like all cryptos.

• PAXG’s upside may be limited, given that it is a commodity-backed token, unlike the high-growth potential of speculative cryptos.

• PAXG’s value is tied directly to the price of gold.

• Start investing in PAXG with just ₹100.

• CoinSwitch provides a seamless and intuitive trading experience for users.

• Easily manage your transactions and portfolio on the app.

PAX Gold did not conduct a traditional ICO. Paxos Trust Company launched it in September 2019 using the “mint-on-demand” model. Under this model, tokens are created when physical gold is deposited and redeemed when burned.