What is the difference between PAX Gold and other cryptocurrencies?
The main difference between PAX Gold (PAXG) and other cryptocurrencies is that PAXG is backed by physical gold.
Each PAXG token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in professional vault facilities. This means that the value of each PAXG token is directly linked to the current spot price of gold. Unlike other cryptocurrencies, which are based on blockchain technology and are not backed by any physical asset, PAXG provides investors with a tangible asset to invest in.
This makes it a more secure and reliable investment option than other cryptocurrencies, as its value is not subject to the same volatility as other digital assets. Additionally, since PAXG tokens are backed by physical gold, they can be redeemed for the underlying asset at any time.
AI created text. No guarantee for the correctness of the content.
