About PAX Gold
Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. It operates as a ERC-20 token on the Ethereum blockchain, and tradeable on various exchanges as an accessible way for traders to start investing in gold. PAXG aims to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why Paxos Standard decided to create a cryptocurrency entirely backed by gold. According to the official whitepaper, Pax Gold was created to allow investors to buy indefinitely small amounts of gold through the cryptocurrency, thus virtually eliminating minimum buy limits for the commodity.