PAX Gold (PAXG) is a gold-backed cryptocurrency token created by Paxos.
Unlike traditional cryptocurrencies, PAXG is backed by real gold and operates as an ERC-20 token on the Ethereum blockchain.
The primary goal of PAXG is to provide an accessible means of trading gold, overcoming the limitations associated with physical gold, such as its indivisibility and high transaction costs.
With PAXG, traders and investors can buy and sell fractions of gold, thus bypassing the restrictions of minimum buy limits that typically apply to physical gold.
Each PAXG token represents a specific amount of gold stored in secure vaults around the world, with the token’s value directly tied to the price of gold
