Review on PAX Gold by Naomi Ilani
PAX GOLD Is Gold Indeed
The PAX GOLD is a stable coin that is based on the Ethereum blockchain making it an ERC-20 based token. It provides users with tokenized ownership of gold bullion stored in secured brinks vaults. The centralized platform was founded in the year 2012 and is a highly regulated institution. The PAX GOLD has its token, PAXG which is currently with about $1,937 which is nice for a gold, it is also projected to rise in value making it a good cryptocurrency for investment. This token is backed by the equivalent Tron ounzes (t oz) of London gold
The platform, due to the fact that it is regulated, is left to comply with the laws and has also made KYC a necessity
Pros
- It's a stable coin
- Built on the Ethereum blockchain, making it possible to be stored on any ERC-20 based wallets
- Highly secured as it offers it's users good security for their funds
- It is a regulated platform
- Nice market value
Cons
- The platform is centralized making it necessary to obey rules
- The platfo made KYC necessary
