CoinMarketCap Pax Gold (PAXG) coin page changes — 20210308_rev01

1

## About PAX Gold

1

The live **PAX Gold price today** is $1,707.28 USD with a 24-hour trading volume of $9,953,990 USD. PAX Gold is down 0.57% in the last 24 hours. The current CoinMarketCap ranking is #191, with a live market cap of $123,839,594 USD. It has a circulating supply of 72,536 PAXG coins and the max. supply is not available.

2

3

**PAX Gold price today** is $1,996.42 USD with a 24-hour trading volume of $6,117,818 USD. PAX Gold is up 1.93% in the last 24 hours. The current CoinMarketCap ranking is #124, with a market cap of $78,642,521 USD. It has a circulating supply of 39,392 PAXG coins and the max. supply is not available.

3

## What Is Pax Gold (PAXG)?

4

5

The top exchanges for trading in PAX Gold are currently [Binance](https://coinmarketcap.com/exchanges/binance/), [Binance.KR](https://coinmarketcap.com/exchanges/binance-kr/), [BitZ](https://coinmarketcap.com/exchanges/bitz/), [FTX](https://coinmarketcap.com/exchanges/ftx/), and [HitBTC](https://coinmarketcap.com/exchanges/hitbtc/). You can find others listed on our [crypto exchanges page](https://coinmarketcap.com/rankings/exchanges/).

5

Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token operating on the Ethereum [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain), Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.

6

7

PAX Gold (PAXG) is a digital asset where one token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink's gold vaults. Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company.

7

The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why [Paxos Standard](https://coinmarketcap.com/currencies/paxos-standard/) decided to create a cryptocurrency entirely backed by gold. According to the [official whitepaper](https://www.paxos.com/wp-content/uploads/2019/09/PAX-Gold-Whitepaper.pdf), 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.

8

9

### Who Are the Founders of Pax Gold?

10

11

[Charles Cascarilla](https://www.linkedin.com/in/charlescascarilla/) is the founder and chief executive officer of both Paxos Standard and Pax Gold. Cascarilla has an extensive career in capital management, which is what led him to explore the vast possibilities cryptocurrencies offer.

12

13

After acquiring a degree in finance from the University of Notre Dame, he co-founded Cedar Hill Capital Partners in 2005. This was the start of his career in finance and capital management. Since 2005, Mr. Cascarilla has participated in several traditional and blockchain-based venture capital projects.

14

15

#### What Makes Pax Gold Unique?

16

17

With a growing number of ERC-20 tokens available for purchase, Pax Gold stands out because it is backed by an already established commodity. One of the main goals for Pax Gold is to make investing in gold more accessible.

18

19

The official whitepaper states that "more than USD 3.5 trillion of the total gold available today is used solely for investment purposes;" however, a large portion of it is unavailable to small-time investors. This is where Pax Gold comes into play. Each PAXG token is backed by a fraction of a piece of [London Good Delivery](http://www.lbma.org.uk/good-delivery) gold bar, stored in Brink's gold vaults, which is the approved storage company by the London Bullion Market Association.

20

21

Through combining the security and liquidity offered by blockchain-based cryptocurrency, and the established name of gold as a physical commodity, Pax Gold brings a new investment opportunity to traders. PAXG has inspired other cryptocurrency developers to create gold-backed tokens as well.

22

23

Read more about [Perth Mint Gold Token](https://coinmarketcap.com/currencies/perth-mint-gold-token/).

24

25

Find out more about [Tether Gold](https://coinmarketcap.com/currencies/tether-gold/).

26

27

Learn more about [gold-backed cryptocurrencies](https://coinmarketcap.com/alexandria/glossary/gold-backed-cryptocurrency).

28

29

Have a look at the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).

30

31

#### How Many Pax Gold (PAXG) Coins Are There in Circulation?

32

33

Pax Gold tokens have a one to one ratio with the gold storage backing it. This means that there is a PAXG coin for each ounce of gold in rotation covered by the Pax Gold protocol. In this sense, the amount of PAXG tokens in circulation changes frequently.

34

35

At the moment of writing, there are about 60,161 PAXG coins in circulation. However, the number of coins shifts almost by the minute as new investors are introduced, and Pax Gold increases the available gold supply for backing.

36

37

### How Is the Pax Gold Network Secured?

38

39

In the official whitepaper, Pax Gold CEO Charles Cascarilla explains that the PAXG protocol is created entirely on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain and is secured by the proof-of-work ([PoW](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow)) model. However, PAXG is not exclusively tied to Ethereum and can be launched on other blockchains as well.

40

41

Proof-of-work protocols represent a classic approach to cryptocurrency mining, [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) being the most prominent example. Ethereum has, however, recently begun its transition to the proof-of-stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) model, aiming to reduce the resources necessary for token mining, among other things.

42

43

### Where Can You Buy Pax Gold (PAXG)?

44

45

Pax Gold is an ERC-20 token, which means it can be bought on many established exchanges and can be stored in a wide variety of cryptocurrency wallets.

46

47

Some of the top recommended exchanges for trading Pax Gold are [Binance](https://coinmarketcap.com/exchanges/binance/), [BitZ](https://coinmarketcap.com/exchanges/bitz/), [FTX](https://coinmarketcap.com/exchanges/ftx/) and [Kraken](https://coinmarketcap.com/exchanges/kraken/). It is important to note that while Pax Gold is backed by physical gold bars, there still is risk associated with investing and trading PAXG.

48

49

[Find out more here](https://coinmarketcap.com/how-to-buy-bitcoin/) about buying cryptos.

+## About PAX Gold
+The live **PAX Gold price today** is $1,707.28 USD with a 24-hour trading volume of $9,953,990 USD. PAX Gold is down 0.57% in the last 24 hours. The current CoinMarketCap ranking is #191, with a live market cap of $123,839,594 USD. It has a circulating supply of 72,536 PAXG coins and the max. supply is not available.
+**PAX Gold price today** is $1,996.42 USD with a 24-hour trading volume of $6,117,818 USD. PAX Gold is up 1.93% in the last 24 hours. The current CoinMarketCap ranking is #124, with a market cap of $78,642,521 USD. It has a circulating supply of 39,392 PAXG coins and the max. supply is not available.
+## What Is Pax Gold (PAXG)?
+The top exchanges for trading in PAX Gold are currently [Binance](https://coinmarketcap.com/exchanges/binance/), [Binance.KR](https://coinmarketcap.com/exchanges/binance-kr/), [BitZ](https://coinmarketcap.com/exchanges/bitz/), [FTX](https://coinmarketcap.com/exchanges/ftx/), and [HitBTC](https://coinmarketcap.com/exchanges/hitbtc/). You can find others listed on our [crypto exchanges page](https://coinmarketcap.com/rankings/exchanges/).
+Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token operating on the Ethereum [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain), Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.
+PAX Gold (PAXG) is a digital asset where one token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink's gold vaults. Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company.
+The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why [Paxos Standard](https://coinmarketcap.com/currencies/paxos-standard/) decided to create a cryptocurrency entirely backed by gold. According to the [official whitepaper](https://www.paxos.com/wp-content/uploads/2019/09/PAX-Gold-Whitepaper.pdf), 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.
+### Who Are the Founders of Pax Gold?
+[Charles Cascarilla](https://www.linkedin.com/in/charlescascarilla/) is the founder and chief executive officer of both Paxos Standard and Pax Gold. Cascarilla has an extensive career in capital management, which is what led him to explore the vast possibilities cryptocurrencies offer.
+After acquiring a degree in finance from the University of Notre Dame, he co-founded Cedar Hill Capital Partners in 2005. This was the start of his career in finance and capital management. Since 2005, Mr. Cascarilla has participated in several traditional and blockchain-based venture capital projects.
+#### What Makes Pax Gold Unique?
+With a growing number of ERC-20 tokens available for purchase, Pax Gold stands out because it is backed by an already established commodity. One of the main goals for Pax Gold is to make investing in gold more accessible.
+The official whitepaper states that "more than USD 3.5 trillion of the total gold available today is used solely for investment purposes;" however, a large portion of it is unavailable to small-time investors. This is where Pax Gold comes into play. Each PAXG token is backed by a fraction of a piece of [London Good Delivery](http://www.lbma.org.uk/good-delivery) gold bar, stored in Brink's gold vaults, which is the approved storage company by the London Bullion Market Association.
+Through combining the security and liquidity offered by blockchain-based cryptocurrency, and the established name of gold as a physical commodity, Pax Gold brings a new investment opportunity to traders. PAXG has inspired other cryptocurrency developers to create gold-backed tokens as well.
+Read more about [Perth Mint Gold Token](https://coinmarketcap.com/currencies/perth-mint-gold-token/).
+Find out more about [Tether Gold](https://coinmarketcap.com/currencies/tether-gold/).
+Learn more about [gold-backed cryptocurrencies](https://coinmarketcap.com/alexandria/glossary/gold-backed-cryptocurrency).
+Have a look at the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).
+#### How Many Pax Gold (PAXG) Coins Are There in Circulation?
+Pax Gold tokens have a one to one ratio with the gold storage backing it. This means that there is a PAXG coin for each ounce of gold in rotation covered by the Pax Gold protocol. In this sense, the amount of PAXG tokens in circulation changes frequently.
+At the moment of writing, there are about 60,161 PAXG coins in circulation. However, the number of coins shifts almost by the minute as new investors are introduced, and Pax Gold increases the available gold supply for backing.
+### How Is the Pax Gold Network Secured?
+In the official whitepaper, Pax Gold CEO Charles Cascarilla explains that the PAXG protocol is created entirely on the [Ethereum](https://coinmarketcap.com/currencies/ethereum/) blockchain and is secured by the proof-of-work ([PoW](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow)) model. However, PAXG is not exclusively tied to Ethereum and can be launched on other blockchains as well.
+Proof-of-work protocols represent a classic approach to cryptocurrency mining, [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) being the most prominent example. Ethereum has, however, recently begun its transition to the proof-of-stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) model, aiming to reduce the resources necessary for token mining, among other things.
+### Where Can You Buy Pax Gold (PAXG)?
+Pax Gold is an ERC-20 token, which means it can be bought on many established exchanges and can be stored in a wide variety of cryptocurrency wallets.
+Some of the top recommended exchanges for trading Pax Gold are [Binance](https://coinmarketcap.com/exchanges/binance/), [BitZ](https://coinmarketcap.com/exchanges/bitz/), [FTX](https://coinmarketcap.com/exchanges/ftx/) and [Kraken](https://coinmarketcap.com/exchanges/kraken/). It is important to note that while Pax Gold is backed by physical gold bars, there still is risk associated with investing and trading PAXG.
+[Find out more here](https://coinmarketcap.com/how-to-buy-bitcoin/) about buying cryptos.

Pax Gold (PAXG) coin page

Full text changes — 20210104_rev01 to 20210308_rev01