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dingy1688
dingy1688
Posts : 73
Join date : 2021-08-25

Gold or crypto... Why not both? Empty Gold or crypto... Why not both?

Thu Sep 09, 2021 3:43 pm
https://www.youtube.com/watch?v=7p0TKi5CA_Y

https://paxos.com/paxgold/

What is PAX Gold (PAXG)?

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.
At any time, PAXG holders can lookup the serial number, value and physical characteristics of their vaulted gold just by entering their Ethereum wallet address on the PAXG lookup tool on Paxos.com/paxgold.
By using Paxos Gold users get the benefit of physical gold ownership, without the downsides of storage and transport. Instead they can take advantage of the mobility and speed of transfer that comes with digital assets. The PAXG tokens have been made extremely flexible, and users are able to convert tokens to fiat currency quickly and easily, or they can opt to convert the tokens to allocated and unallocated gold if they wish, just as quickly and easily. Unlike the futures gold market, Paxos Gold digital tokens carry no settlement risk.

Is PAXG a good buy?
Because PAXG is a blockchain asset it is decentralized, immutable, and highly resistant to malicious attacks or theft. Paxos Gold is as good as gold, but without the problems of storage, transportation, and the risk of theft.3 Dec 2020

Is PAXG backed by gold?

PAX Gold (PAXG) is a commodity-backed, gold stablecoin issued by Paxos. Each token is backed by 1 fine troy ounce of gold kept in Brink's vaults managed by Paxos. PAXG allows for exposure to Gold markets without using an ETF, futures contract, or other derivative product.

Can I get a fractional amount of a PAX Gold (PAXG) token?
Yes. It is possible to own tiny fractions of a token, which are divisible out to 18 decimal points. If you purchase PAXG directly from Paxos.com, the minimum purchase is 0.01 PAXG (1% of a PAXG token – or roughly $15).

How much gold is backing the total supply of PAX Gold (PAXG)?

The amount of gold representing the total supply of PAXG is a 1:1 ratio – one fine troy ounce of gold equals one PAXG token. The total supply of gold representing PAXG changes continuously as the market capitalization of PAXG increases and decreases.

What is the benefit of having physical assets on a blockchain?
Physical gold on the blockchain has the advantages of representing legal ownership of physical allocated gold, but does not have the drawbacks of limited transportability or high storage costs usually associated with it. Instead, it has the divisibility, fungibility and tradability of any digital asset like bitcoin. In other words, the best of physical and digital assets at the same time!

Earning with Paxos Gold Exclamation   Idea   Exclamation
With decentralized finance growing so rapidly Paxos Gold now gives gold investors the opportunity to do something they could never do with physical gold – earn interest. Gold as an asset has long been considered a yield-less asset class, which is why it is so sensitive to interest rate changes. With Paxos Gold it is now possible to earn interest on gold holdings.
There are already several DeFi platforms that will pay interest on your PAXG holdings. One of the first was Nexo, a leading regulated financial institution for digital assets. Nexo purchased $5 million worth of PAXG just after the token was launched, and has been offering lending and interest payments on saved PAXG since.
As of December 2020 users can deposit PAXG at Nexo.io and earn up to 8% APY. They also allow PAXG holders to use the tokens as collateral for a line of credit. For each 0.7818 PAXG users are able to borrow $1,000.
Another option for earning with Paxos Gold is with Crypto.com. This platform is offering up to 6.5% APY on deposited PAXG. In addition, Crypto.com offers a debit card that can be loaded with U.S. dollars converted from the PAXG held with them. That might be the easiest way to spend gold you’ll find.
A third option for earning interest with your PAXG is through BlockFi, where you’ll earn 5% APY on deposited tokens. BlockFi also offers loans based on PAXG as collateral. For every $1,000 borrowed, the user needs to deposit 1.09 PAXG as collateral.


Digital gold is an idea that makes a lot of sense. It avoids the problems that have been associated with purchasing, holding, and trading physical gold. It even creates the opportunity to generate interest on what has always been a yield-less asset. With Paxos Gold the team at Paxos have created a digital asset for the future.


Me personally Ive been use brave browser https://brave.com/ and collecting BAT. About $4 a month. then they last week started a deal with Gemini exchange will stores PAXG.- long story short, im now getting paid to browse online in Gold, and that makes it technically makes my first ever gold purchase! Very Happy

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Mike Xonox
Mike Xonox
Posts : 35
Join date : 2022-07-26
Location : Florida

Gold or crypto... Why not both? Empty Re: Gold or crypto... Why not both?

Tue Jul 26, 2022 9:19 pm
If you dont hold it you dont own it. Latest CRYPTo scandals prove the point. CRYPTo is the modern day "Tulip Craze"

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The Cat's Mother
The Cat's Mother
Moderator
Posts : 1279
Join date : 2021-05-19
Location : UK

Gold or crypto... Why not both? Empty Re: Gold or crypto... Why not both?

Tue Jul 26, 2022 9:47 pm
Mike Xonox wrote:If you dont hold it you dont own it. Latest CRYPTo scandals prove the point. CRYPTo is the modern day "Tulip Craze"
At least you got a nice flower from a tulip.

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Rod Panhard
Rod Panhard
Posts : 92
Join date : 2021-05-25

Gold or crypto... Why not both? Empty Re: Gold or crypto... Why not both?

Wed Jul 27, 2022 5:41 pm
I think crypto will be like the Dot.com bubble, the vast majority will be swept away like the ones that just put .com behind their name to ride the bubble but a select few will go on to become mainstays. The fact banks are now allowed to hold 1% of their assets in Bitcoin suggests it's going nowhere.  All the "shitcoins" I would reckon will be toast.  I always try and select crptos that serve a useful purpose and I also think it helps if they are not actually a currency as we all see what happens to anything that challenges Dollar hegemony.

I also fear for those who reached adulthood after the 2008 financial crisis as they have known nothing other than the fake reality, they could get badly burned. I say you can invest in both but when it comes to the last are people going to run to the asset that's proven and protected them for thousands of years or the one that's been around for 13 years and is a complete unknown when it comes to a financial collapse. i know which one I'm going with.

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Gold or crypto... Why not both? Empty Re: Gold or crypto... Why not both?

Wed Jul 27, 2022 11:40 pm
Rod Panhard wrote:...
I also fear for those who reached adulthood after the 2008 financial crisis as they have known nothing other than the fake reality, they could get badly burned.
...

Sorry for snipping your post with so much to reply to, but this is really what scares me. Even my much older generation, so many are living on a decades-long habit of credit, counting on future salaries. This is absolutely disintegrating here in the UK for many (unless you work for the government, but even that, how long will it last if people can't pay taxes?).

My sister for example is in unfathomable, unprecedented financial trouble. The bank of Mum and Dad (what some of us have been under for a long while) is gone. They've told us what's coming, they keep on telling us - a global food shortage. I ask her if she's growing food - she is kept so busy with all the fear and new school rules and everything else she hasn't paid attention.

All blamed on Russia, and yet fuel prices are apparently less than ten cents in Venezuela. I know people in Texas and there is plenty of oil - they've been finding and capping those wells for years, probably decades. But they're not using them and getting us the fuel. WTF???

It's going to get very serious Sad
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Gold or crypto... Why not both? Empty Re: Gold or crypto... Why not both?

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