< img src ="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81NzI0Njc1MTNmZDJlMGQ1YWY2YzExMTEyOGMxZDBjZS5qcGVn.jpeg "> PAX Gold is a cryptocurrency and also gold hybrid that links the space between both investment choices. It uses the safety and security as well as stability of cryptocurrencies.
The Paxos-backed cryptocurrency, PAXG, is backed by the London Bullion Market Association (LBMA)certified gold bars as well as may be redeemed for real bullion.Related: What is a gold-backed token and also just how does it work?PAX Gold investors are spared the problem of saving as well as securing physical gold, as well as transporting it. PAX Gold flaunts a mix of qualities from both physical gold ownership and also cryptocurrency that provide solutions to numerous modern-day challenges in the gold market such as high costs, storage space concerns as well as the lack of liquidity.Who Is Behind PAX Gold?The Paxos Count On Company, an economic organization and also technology company based in New York City that specializes in blockchain modern technology, created PAX Gold. Even with these
superior security steps as well as top notch gold, PAX Gold doesn’t charge any type of custodial or storage space fees– only a 0.02% deal fee.Is Pax Gold safe? In addition, PAXG’s developers run normal clever contract audits to search for any type of prospective pests or vulnerabilities in the network.Is Pax Gold real gold?As pointed out earlier, Pax gold is tokenized gold that runs on a blockchain network. Exactly how does PAX gold make money?PAX Gold will certainly gain earnings in 2 methods: a tiny costs on the gold and also a tokenization charge at the time of preliminary purchase.