Review on PAX Gold by Orlymar Córdova
The stablecoin that democratizes access to gold around the world: PAX Gold (PAXG)
Undoubtedly, cryptocurrencies that are backed by a physical asset (gold, silver, oil, among others) are much more reliable for investors and offer many advantages, including minimizing the inconveniences related to volatility and speculation. The PAXG currency is one of the best known stable coins backed in this case by physical gold bars stored in Brink's vaults in the city of London.
The stablecoin PAX Gold is an ERC-20 token built on the Ethereum blockchain. According to the firm, each PAXG token will have a value equivalent to one ounce of gold, which can be exchanged for the metal in physical form at authorized institutions or entities such as Bullion Exchange. By tokenizing gold and placing it on a Pax Gold blockchain, it makes it possible for anyone to own fractions of this precious metal, without having to worry about its storage and security.
Among the benefits offered by the use of this cryptocurrency, the possibility of easily exchanging it at any time and anywhere in the world and with low rates stands out. In addition to belonging to the Ethereum ERC-20 blockchain, its token is compatible with an extensive network of wallets and exchanges, such as Binance, Nexo, Bitpie, crypto. com, TrustWallet, coincodex, among others. PAXG, can be exchanged for a physical gold bar or fiat money.
Considering that the value of gold is directly linked to the market in real time and that in recent years this value has increased exorbitantly, without a doubt the cryptocurrency PAX Gold is an excellent opportunity to invest and save.
Pros
- Being built on the basis of ethereum, plax Gold enjoys all the benefits that this platform offers, including decentralization and high security guarantees.
- Gives PAXG token holders real ownership of gold. If you have enough tokens, you can exchange them for a physical gold bar.
- London Good Delivery gold bars are protected in the safest vaults in the world.
- By tokenizing gold and putting it on a chain of blocks, access is democratized, avoiding the setbacks that merit its physical storage, transport and trade.
- It has a pleasant, intuitive interface and with enough technical information about the project in its WHITE PAPER.
Cons
- At the moment I have nothing relevant to limit against this project.
