What is Paxos Gold (PAXG)?
PAX Gold (PAXG) is a digital asset backed by physical gold, launched in September 2019. It was created by Paxos, a blockchain infrastructure company. Each PAXG token represents one fine troy ounce of a London Good Delivery gold bar, stored in Brink’s vaults. PAXG was developed to make investing in gold more accessible and to combine the stability and value of gold with the efficiency of digital tokens. It offers the benefits of physical gold ownership, minus the storage and security issues. PAXG can be traded on exchanges, redeemed for physical bars at certain institutions, and used as collateral in DeFi platforms.
The token aims to provide a safer, faster, and cheaper alternative to traditional gold investments, making gold trading more accessible in the digital age. PAXG is audited regularly to ensure that the physical gold in the vaults fully backs the circulating supply of tokens.
The token aims to provide a safer, faster, and cheaper alternative to traditional gold investments, making gold trading more accessible in the digital age. PAXG is audited regularly to ensure that the physical gold in the vaults fully backs the circulating supply of tokens.
Why choose Rabbit Wallet for Paxos Gold?
Whether you're a total crypto newbie or a seasoned pro, Rabbit Wallet's got your back for
handling your PAXG with ease. Check out some cool features that make Rabbit stand out:
Exchange Paxos Gold (PAXG)
With the Rabbit's built-in coin swap feature, you can exchange your Paxos Gold for
any other coin at the best rates without ever leaving the cozy confines of your
wallet.
Self-Custodial
With a self-custodial wallet, you control the keys to your Paxos Gold, meaning that
nobody, not even Rabbit, can ever access your coins. This also leads to faster
transactions with no third-party fees except for miners and increased flexibility.
Optimal Fees
The unique fee calculation algorithms provide you with various options when
available, allowing you to choose the most optimal one to ensure your transaction is
confirmed both swiftly and cost-effectively.
User-Friendly
We've worked hard to make Rabbit Wallet user-friendly for everyone. Packed with
features, it suits users at all levels, and our developers respond directly when
help is needed.
How to use Rabbit Wallet?
Creating a new wallet takes just a few clicks, and requires no information from you.
Here is a short brief on how you can create your new wallet:
Here is a short brief on how you can create your new wallet:
Save your phrase
You will be given a phrase, which will act as a primary key to your wallet. Save it
securely.
Set your password
Password is required to both open your wallet, and to perform any transactions.
You are in!
Now you are all set to explore the crypto world! Welcome to freedom!
Friendly tip: Having your passphrase on a sticky note under a keyboard might not be the best way to
store it.