What Is PAX Gold (PAXG)? How Does It Work?

PAX Gold (PAXG) was launched in September 2019 by the founders of Paxos company. PAXG was built on the Ethereum blockchain and works with the ERC-20 standard. It is a gold-backed cryptocurrency intended to make investing in gold more accessible. In this article, you can find answers to the questions of what is PAX Gold (PAXG), how Pax Gold (PAXG) works, how to buy PAX Gold (PAXG) and how to trade PAXG/TRY trading pair.

What Is PAXGold (PAXG)? How Does It Work?

PAXG delivers physical gold to investors digitally. The founder of the PAX Gold project is Charles Cascarilla. It is an ERC-20 token running on the Ethereum blockchain. With PAX Gold project, It is aimed to make the investment in gold more accessible. Each PAXG token is backed by an ounce of London Gold Delivery gold bar stored in Brink’s vaults.

PAXG allows gold investors to keep gold digitally rather than physically. The company holds the gold equivalent of every PAX Gold in the market. PAXG is not mined.

PAX Gold tokens have a one-to-one ratio with the supported gold store. There is one PAXG coin for every ounce of gold. The amount of PAXG tokens in circulation changes frequently.

How To Store PAX Gold (PAXG)?

PAX Gold (PAXG) is an ERC-20-based token indexed to gold and used to facilitate digital investment in gold. You can manage your PAXG balances with desktop, mobile and hardware wallets that support ERC-20-based Ethereum assets.

How To Buy and Sell PAX Gold (PAXG)?

You can use the BtcTurk | PRO website or BtcTurk | PRO mobile application to buy and sell AS Roma PAX Gold (PAXG) with Turkish Lira and Tether (USDT). If you are not a member of BtcTurk, you can become a member now from our website or mobile application. And, you can get PAX Gold (PAXG) by sending Turkish Lira 24/7 with 7 contracted banks.