PAX Gold (PAXG) traded 1.5% lower against the dollar during the one day period ending at 12:00 PM ET on April 19th. During the last week, PAX Gold has traded down 0.6% against the dollar. One PAX Gold coin can currently be bought for approximately $1,961.39 or 0.04727433 BTC on major exchanges. PAX Gold has a total market capitalization of $623.05 million and approximately $32.44 million worth of PAX Gold was traded on exchanges in the last day.
Here’s how other cryptocurrencies have performed during the last day:
- Binance USD (BUSD) traded down 0.1% against the dollar and now trades at $1.00 or 0.00002411 BTC.
- Polygon (MATIC) traded 5.6% higher against the dollar and now trades at $1.43 or 0.00003444 BTC.
- Crypto.com Coin (CRO) traded 5% higher against the dollar and now trades at $0.41 or 0.00001075 BTC.
- Dai (DAI) traded up 0.1% against the dollar and now trades at $1.00 or 0.00002411 BTC.
- Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 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.
- Chainlink (LINK) traded 8% higher against the dollar and now trades at $14.33 or 0.00034541 BTC.
- FTX Token (FTT) traded up 5% against the dollar and now trades at $43.62 or 0.00105124 BTC.
- THETA (THETA) traded flat against the dollar and now trades at $5.25 or 0.00010640 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. “
Buying and Selling PAX Gold
It is usually not possible to buy alternative cryptocurrencies such as PAX Gold directly using US dollars. Investors seeking to trade PAX Gold should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy PAX Gold using one of the aforementioned exchanges.
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