Review on Paxos Standard by LUIS RIVERO R
Paxos is a sample of how cryptocurrencies can be regulated and accepted by…
Paxos is a sample of how cryptocurrencies can be regulated and accepted by government regulators, thus providing credibility and support to the project. It is possible to make payments in dollars equivalent but in virtual currency avoiding expensive payment processors or banking transactions that ultimately take away money, especially in international remittance shipments we can send money anywhere in the world avoiding the barriers and sanctions that the States usually place.
Updated 5 years ago
Rating changed from 5 to 4
Currently it is listed in more than 90 exchanges, in this sense it is one of the most used stablecoin.
However due to its location some countries are restricted to access direct purchase of assets, in my case I can only access through exchanges.
Pros
- It is a stablecoin, for this reason its price is linked to the American dollar, its price will always be 1 dollar. it is duly approved by the regulatory bodies of new york. It is possible to exchange American dollars, very quickly avoiding problems of time. The token is audited which provides respando to the price and really makes us feel that our money is in good hands. Monthly reports are made to verify that the funds are available in the linked banks. available in more than 80 exchanges. The procedure to exchange dollar for paxos in the pax platform is extremely easy.
Cons
- They have a strong following by the government, which could indicate a certain lack of independence and anonymity of the users that have this stablecoin. For this supported by dollars your price will always remain at the price of the dollar, it is not a cryptocurrency of investment is simply to safeguard our assets in the event of unforeseen events.
