Review on PAX Gold by Olugbenga Ajayi
Pax gold bring food closer to the common people
Gold has been around for centuries and it is popularly believed that it is only the rich that can afford to invest in it because it is expensive but gone are those days because right now crypto project like Pax gold is making it accessible to all.
Pax gold is a crypto project backed by gold. Each pax gold which is an erc-20 built on ethereum block chain is having the value of one fine Troy ounce. Because it has been fractionalized, it is possible for investors the invest a little in pax gold and this gives them right to an equal proportion of physical gold.
Pax good was issued in 2019 and since then has continued to rise in market capitalization. The coin can be redeemed for physical gold and when this happens the pax will be burned.
The token can be stored in any ethereum based wallet like metamask and trust wallet.
For the fact that it bring gold closer to the masses, I really love the project
Pros
- The coin can be redeemed for physical gold
- It brings gold commodity to the masses
- All transactions are verifiable on ethereum block chain
- It can be stored on all ethereum based wallet
Cons
- It is still a new project so more time is needed to determine it's value
