PAX Gold (CURRENCY:PAXG) traded 0% lower against the US dollar during the one day period ending at 14:00 PM Eastern on January 14th. One PAX Gold coin can currently be bought for about $1,823.98 or 0.04245202 BTC on popular cryptocurrency exchanges. PAX Gold has a total market cap of $329.53 million and approximately $6.01 million worth of PAX Gold was traded on exchanges in the last day. Over the last week, PAX Gold has traded 1.2% higher against the US dollar.
Here’s how related cryptocurrencies have performed over the last day:
- Polygon (MATIC) traded 0.6% higher against the dollar and now trades at $2.30 or 0.00005344 BTC.
- Binance USD (BUSD) traded up 0% against the dollar and now trades at $1.00 or 0.00002325 BTC.
- Polygon (MATIC) traded flat against the dollar and now trades at $2.00 or 0.00003275 BTC.
- Chainlink (LINK) traded down 0.8% against the dollar and now trades at $24.76 or 0.00057618 BTC.
- Crypto.com Coin (CRO) traded down 1.6% against the dollar and now trades at $0.46 or 0.00001061 BTC.
- Dai (DAI) traded up 0% against the dollar and now trades at $1.00 or 0.00002327 BTC.
- Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 BTC.
- Fantom (FTM) traded 1.3% lower against the dollar and now trades at $2.95 or 0.00006857 BTC.
- DREP (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003399 BTC.
PAX Gold Coin Profile
According to CryptoCompare, “PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. PAXG gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Customers are able to have fractional ownership of physical bars. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. PAXG is also available for trading on Paxos’ itBit exchange. PAXG will also be available on other crypto-asset exchanges, wallets, lending platforms and elsewhere within the crypto ecosystem. “
PAX Gold Coin Trading
It is usually not currently possible to purchase alternative cryptocurrencies such as PAX Gold directly using U.S. dollars. Investors seeking to acquire PAX Gold should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase PAX Gold using one of the aforementioned exchanges.
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