PAX Gold Price

PAX Gold (PAXG) is a cryptocurrency designed to provide the benefits of owning physical gold while eliminating the drawbacks of storing and moving precious metals. Here are its key features:

1. Physical Gold Backing: Each PAXG token is backed by a 400 oz London Good Delivery gold bar weighing 1 troy ounce of gold.
2. Digital Asset: PAXG is an ERC-20 token running on the Ethereum blockchain, tradable on various exchanges.
3. No Storage and Transportation Costs: PAXG allows users to buy small amounts of physical gold without paying storage and transportation costs, lowering the barrier to gold investment.
4. Real-time Market Value Pegged: The value of PAXG is directly pegged to the real-time market value of physical gold, providing the benefits of actual ownership of specific gold bars.

In summary, PAXG is an innovative cryptocurrency designed to provide users with a convenient and secure way to invest in gold.