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PAX Gold

PAX Gold pricePAXG

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PAX Gold price calculator

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PAXG
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1 PAXG = 2,301.11 USD
Last updated 2024-04-25 13:52:29(UTC-0)

PAX Gold price live data summary

The live price of PAX Gold is $2,301.11 per (PAXG / USD) today with a current market cap of $423.98M USD. The 24-hour trading volume is $10.70M USD. PAXG to USD price is updated in real time. PAX Gold is -0.25% in the last 24 hours. It has a circulating supply of 184,251.72 .

What is the highest price of PAXG?

PAXG has an all-time high (ATH) of $3,487.68, recorded on 2020-04-22.

What is the lowest price of PAXG?

PAXG has an all-time low (ATL) of $1,387.98, recorded on 2019-10-26.

PAX Gold price performance in USD

24h7d30d90d1yAll-time
-0.25%-3.89%+6.09%+14.93%+14.86%+50.89%

PAX Gold price history in USD

TimeLowHigh
24h$2,293.45$2,317.63
7d$2,288.42$2,464.36
30d$2,159.31$3,097.9
90d$1,976$3,097.9
1y$1,824.7$3,097.9
All-time$1,387.98(2019-10-26, 4 years ago )$3,487.68(2020-04-22, 4 years ago )

PAX Gold market information

Market cap
$423,984,180.8
-0.25%
Fully diluted market cap
$423,984,180.8
-0.25%
Volume (24h)
$10,696,767.1
+8.85%
Market rankings
Circulation rate
+100.00%
24h volume / market cap
0.0252
Circulating supply
184,251.72 PAXG
Total supply / Max supply
184,251.71 PAXG
-- PAXG

PAX Gold ratings

Average ratings from the community
4.6
100 ratings
This content is for informational purposes only.

PAX Gold Social Data

In the last 24 hours, the social media sentiment score for PAX Gold was 3, and the social media sentiment towards PAX Gold price trend was Bullish. The overall PAX Gold social media score was 0, which ranks 889 among all cryptocurrencies.

According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,318,607 times, with PAX Gold being mentioned with a frequency ratio of 0%, ranking 849 among all cryptocurrencies.

In the last 24 hours, there were a total of 290 unique users discussing PAX Gold, with a total of PAX Gold mentions of 40. However, compared to the previous 24-hour period, the number of unique users increase by 9%, and the total number of mentions has decrease by 52%.

On Twitter, there were a total of 0 tweets mentioning PAX Gold in the last 24 hours. Among them, 0% are bullish on PAX Gold, 0% are bearish on PAX Gold, and 100% are neutral on PAX Gold.

On Reddit, there were 20 posts mentioning PAX Gold in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 5% . Additionally, there were 0 comments mentioning PAX Gold. Compared to the previous 24-hour period, the number of mentions decrease by 0%.

Visão geral das redes sociais

Average sentiment(24h)
3
Social score(24h)
0(#889)
Social contributors(24h)
290
+9%
Social mentions(24h)
40(#849)
-52%
Social dominance(24h)
0%
Twitter
Tweets(24h)
0
0%
Twitter sentiment(24h)
Bullish
0%
Neutral
100%
Bearish
0%
Reddit
Reddit score(24h)
14
Reddit posts(24h)
20
-5%
Reddit comments(24h)
0
0%

About PAX Gold(PAXG)

What is PAX Gold?

PAX Gold (PAXG) is a digital asset that aims to provide the benefits of actual physical gold ownership while eliminating the drawbacks that come with storing and moving the precious metal. Each PAXG token is backed by one fine troy ounce of a 400-ounce London Good Delivery gold bar, which is stored in professional vault facilities in London. By tokenizing gold in this manner, PAX Gold allows investors to purchase and own gold in a more convenient, affordable, and divisible format than physical gold bars or coins.

Resources

Official Whitepaper: https://paxos.com/wp-content/uploads/2019/09/PAX-Gold-Whitepaper.pdf

Official Website: https://paxos.com/paxgold/

How Does PAX Gold Work?

The underlying mechanism for PAX Gold revolves around the tokenization of physical gold bars. When you purchase a PAXG token, you are essentially buying a digital claim to an actual gold bar stored in a secure vault. These vaults are routinely audited and inspected to ensure the gold's security and quality, offering investors peace of mind. The information regarding each specific gold bar, such as its serial number, brand of the issuer, gross weight, and purity, is readily available to the token holder.

What is PAX Gold Token (PAXG)?

The PAXG token is the digital representation of the ownership rights to a fine troy ounce of physical gold. It is an ERC-20 token, which means it operates on the Ethereum blockchain, making it compatible with all Ethereum-based wallets and decentralized applications (dApps). Each token corresponds to specific details of a gold bar stored in a vault, and token holders can verify this information through the blockchain. If desired, PAXG token holders can also redeem their tokens for the equivalent physical gold, or its cash equivalent, providing a unique avenue to convert digital assets into physical ones.

Which Factors Affect PAX Gold Token (PAXG) Price?

The value of a PAXG token closely tracks the market price of a troy ounce of gold. However, the token's price may also be influenced by other factors like investor adoption, transaction fees, or regulatory changes concerning asset-backed tokens. It's vital to remember that while PAXG aims to be a digital equivalent of physical gold, it also operates within the broader cryptocurrency ecosystem and can be affected by market sentiments.

PAX Gold's Impact on Finance

PAX Gold represents a significant innovation in the financial world by seamlessly merging the stability and intrinsic value of gold with the efficiency and versatility of blockchain technology. By tokenizing gold into an ERC-20 asset, PAX Gold makes it possible to trade, transfer, or redeem physical gold as effortlessly as sending an email, democratizing access to a time-honored asset class that was previously challenging to divide, transfer, and store. This digital asset not only enables a broader audience to invest in gold, but it also paves the way for gold to participate in decentralized finance (DeFi) applications, thereby modernizing how we interact with this age-old store of value. The integration of a physical asset into the digital financial ecosystem exemplifies how traditional and modern financial instruments can coexist and enrich the investment landscape for everyone.

Conclusion

In summary, PAX Gold offers a unique blend of the old and new, tying the timeless value of gold to the modern functionality of blockchain technology. It provides an avenue for investors to diversify their portfolio, combining the stability of gold with the utility and innovation of digital assets.

How to buy PAX Gold (PAXG)

Buying PAX Gold on Bitget is fast and simple.
You just have to create an account, complete identity verification, deposit funds, and your trading journey is all set!
For more information, refer to How to buy PAX Gold (PAXG) .

Trade PAXG perpetual futures

After having successfully signed up on Bitget and purchased USDT or PAXG tokens, you can start trading derivatives, including PAXG futures and margin trading to increase your income.

The current price of PAXG is $2,301.11, with a 24h price change of -0.25%. Traders can profit by either going long or short onPAXG futures.

Join PAXG copy trading by following elite traders.

After signing up on Bitget and successfully buying USDT or PAXG tokens, you can also start copy trading by following elite traders.

PAX Gold news

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People are also inquiring about the price of PAX Gold.

What is the current price of PAX Gold?

We update our PAX Gold to USD price in real time. Get the live Price of PAX Gold on Bitget.

What is the 24 hour trading volume of PAX Gold?

Over the last 24 hours, the trading volume of PAX Gold is $10.70M.

What is the all-time high of PAX Gold?

The all-time high of PAX Gold is $3,487.68. This all-time high is highest price for PAX Gold since it was launched.

Can I buy PAX Gold on Bitget?

Yes, PAX Gold is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy PAX Gold guide.

Can I get a steady income from investing in PAX Gold?

Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

Where can I buy PAX Gold with the lowest fee?

We're pleased to announce that strategic trading platform is now available on the Bitget exchange. Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders.

Is PAX Gold a good investment?

Pax is a stablecoin that is pegged against the price of Gold, making it dependant on the spot price of Gold itself. This makes investing in Gold easier then ever, and comes with the benefits that blockchain technology has to offer. At the same time, due to its unique peg it provides a form of protection within bearish market sentiment in the cryptocurrency space, allowing one to be protected from a different asset class.

How does Pax Gold work?

PAX Gold (PAXG) is a token backed by real gold, where each token equates to one fine troy ounce from a London Good Delivery gold bar kept in professional vaults. Those with PAXG possess rights to the gold held by Paxos Trust Company. The token's value mirrors the real-time value of its corresponding physical gold. This structure offers the perks of physically owning gold while enjoying the convenience of a digital asset, even allowing for partial bar ownership. On Paxos, users can swiftly toggle between their tokens and allocated gold, unallocated gold, or fiat, minimizing settlement risks. PAXG can be traded on Paxos' itBit, other exchanges like Binance and Kraken, lending platforms, and various other spots in the crypto world.

What is the difference between unallocated and allocated gold?

Allocated and unallocated gold have distinct differences. With allocated gold, customers own specific gold bars stored in a vault by a precious metal dealer on their behalf. Each bar has a unique serial number, purity rating, and weight. On the other hand, unallocated gold doesn't grant ownership of particular bars. Instead, customers hold a general claim to a certain amount of gold, which an institution commits to deliver. It's akin to how banks function: customers don't possess distinct bills but have a credit available for withdrawal.

What are the fees associated with PAX Gold?

Pax Gold can be transacted through an exchange, or on-chain. When traded on an exchange, the trading fees apply for each transaction. For onchain transaction, the following information is important to be aware of: On-Chain Transaction Fees with PAXG: Ethereum Gas Fee: Every transaction involving PAXG, an Ethereum-based token, incurs a standard gas fee, which compensates for the computing power required. PAXG Transaction Fee: In addition to the Ethereum gas fee, PAXG imposes a 0.02% fee on the transaction amount. For clarity, if you transfer 10 PAXG, the recipient will receive 9.998 PAXG after the deduction of the 0.02% fee. To ensure a receiver gets the full 10 PAXG, you'd need to send approximately 10.0020004001 PAXG. Storage Fees: Paxos currently waives gold storage fees. Creation & Destruction Fees: When trading PAXG within the Paxos platform, there are minor fees involved for both creating and destroying PAXG tokens. This encompasses transactions like converting PAX Gold to/from USD, gold bars, or unallocated gold. However, these fees are not applicable when trading tokens on the Paxos exchange or outside the Paxos wallet. Optimize your PAXG transactions by being aware of these fees and always check the details when trading on the Ethereum network or the Paxos platform.

What are the benefits of Pax Gold?

Pax gold provides the following benefits: It is backed by physical gold. It provides exposure to the price of gold without the need to physically own or store gold. It is built on the ethereum blockchain providing it with the benefits of fast transaction speeds, and transparancy on the ledger. It is also regulated by the New York State Department of Financial Services, making it relatively safe.

What are the risks of Pax Gold?

Its price stability is dependent on the stability of the spot price of gold. As it runs on the blockchain it is considered overall low risk. However smart contract, market and operational risks should be taken into consideration.
Cryptocurrency investments, including buying PAX Gold online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy PAX Gold, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your PAX Gold purchase. This page and any information included are not an endorsement of any particular cryptocurrency.

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PAXG is available for trading on the Bitget Exchange, and can be held in custody on Bitget Wallet. Bitget Exchange is also one of the first CEX platforms to support PAXG trades.
You can trade PAXG on Bitget.

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PAXG resources

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