PAX Gold (CURRENCY:PAXG) traded down 0.9% against the dollar during the 1-day period ending at 19:00 PM Eastern on May 4th. One PAX Gold coin can now be purchased for about $1,786.37 or 0.03303413 BTC on cryptocurrency exchanges. During the last seven days, PAX Gold has traded 0.3% lower against the dollar. PAX Gold has a market cap of $107.47 million and $24.44 million worth of PAX Gold was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed during the last day:
- Chainlink (LINK) traded up 11.9% against the dollar and now trades at $47.31 or 0.00087496 BTC.
- THETA (THETA) traded down 10.2% against the dollar and now trades at $10.49 or 0.00019399 BTC.
- Binance USD (BUSD) traded 0% higher against the dollar and now trades at $1.00 or 0.00001849 BTC.
- DREP (DREP) traded down 21% against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded 19.5% lower against the dollar and now trades at $1.96 or 0.00003399 BTC.
- PancakeSwap (CAKE) traded down 10.7% against the dollar and now trades at $37.26 or 0.00068904 BTC.
- Aave (AAVE) traded 8.8% lower against the dollar and now trades at $464.28 or 0.00858565 BTC.
- Maker (MKR) traded down 9.9% against the dollar and now trades at $5,360.93 or 0.09913600 BTC.
- FTX Token (FTT) traded down 5.2% against the dollar and now trades at $54.64 or 0.00101043 BTC.
- Huobi Token (HT) traded down 8.8% against the dollar and now trades at $24.27 or 0.00044880 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 possible to purchase alternative cryptocurrencies such as PAX Gold directly using U.S. dollars. Investors seeking to acquire PAX Gold should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase PAX Gold using one of the aforementioned exchanges.
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