What is Paxos Gold?

What is Paxos Gold (PAXG)?

Paxos Gold is a crypto asset fully backed by physical gold bars held in Brink’s vaults, one of the most secure in the world. Built on the Ethereum network, the idea of Paxos gold is simple: make any user from any part of the world own gold by simply purchasing PAXG. 

Crypto assets backed by physical reserve assets have increased in demand over the past few years of global crypto adoption. Unlike many backed crypto assets, Paxos Gold offers users the opportunity to redeem their tokens for gold bullion bars at any time, should they choose to. They mostly do this through a worldwide network of physical gold retailers. 

Physically backed digital assets have often been criticized for lack of transparency; to avoid this, Paxos Gold subjects PAXG token supply and the equivalent physical gold backing to a nationally ranking auditor every month. Ultimately, Paxos Gold brings a long-term traditional asset to the trustless, decentralized and highly secure blockchain network.

The Paxos Gold token, PAXG, has been popular for a relatively much lower fee structure than tokens on the Ethereum network. Creation and redemption of tokens on the network cost 0.03-1%, and storage of the token is completely free. On-chain transactions will, however, be subject to Ethereum gas fees.

What is PAXG price?

Gold’s price is always changing, hence PAXG’s price flux. Following an accurate chart is essential to make sure your portfolio is protected. Thankfully, YouHodler aggregates numbers from the leading exchanges to provide the most accurate price possible.  

Where to buy PAXG?

The cheapest way to buy is by depositing your stablecoins like USDC and converting them to PAXG. You can also buy directly with your credit card, debit card or bank wire deposits.

How to earn % p.a. on PAXG?

Earn passive returns on your PAXG by depositing it to your YouHodler wallet. Create an account with YouHodler, buy and deposit PAXG, and earn up to 7% with compounding % p.a.. 

How to take a loan with PAXG?

Take a loan in stablecoins by using your PAXG as collateral. Our % p.a. rate is ridiculously cheap and you can get up to 90% of your collateral.

How to trade PAXG?

You can do more than just hodling. Multiply your PAXG bag by using our Multi HODL strategy at YouHodler.