PAX Gold

PAX Gold (PAXG) Overview

PAX Gold (PAXG) is a revolutionary asset-backed token designed to represent one fine troy ounce of a London Good Delivery gold bar. This gold is securely stored in professional vault facilities, ensuring the safety and integrity of the asset. Each PAXG token grants its holder ownership rights to the underlying gold, which is held in custody by Paxos Trust Company. As a result, the value of PAXG is directly tied to the real-time market price of physical gold.

Benefits of PAX Gold

PAXG provides investors with the advantages of actual physical gold ownership while leveraging the speed and convenience of a digital asset. Key benefits include:

• Fractional Ownership: Investors can purchase fractions of a gold bar, making it accessible to a wider audience.
• Instant Conversions: Users can quickly convert their PAXG tokens to allocated gold, unallocated gold, or fiat currency, minimizing exposure to settlement risks.
• Transparent Tracking: Holders can easily track the serial number, value, and physical characteristics of their vaulted gold by entering their Ethereum wallet address in the PAXG lookup tool.

Regulation and Security

PAX Gold is regulated by the New York State Department of Financial Services, providing an added layer of security for investors. The allocated gold backing PAXG is stored in LBMA-accredited vaults and undergoes monthly audits, ensuring transparency and trust in the asset.

Cost Efficiency

PAXG offers a cost-effective solution for owning investment-grade physical gold, with a lower cost structure compared to traditional gold tokens and ETFs. Notably, Paxos does not charge storage fees, making it an attractive option for both individual and institutional investors.

Trading and Accessibility

PAXG is available for trading on the itBit exchange as well as on various other crypto-asset exchanges, wallets, and lending platforms. This extensive availability within the cryptocurrency ecosystem enhances its liquidity and accessibility for users around the globe.

Conclusion

With its unique blend of physical asset backing and digital asset benefits, PAX Gold (PAXG) stands out as a robust option for those seeking to invest in gold without the traditional hassles of ownership.