Last updated 20/10/2022
Official Website: https://paxos.com/paxgold/
The asset-backed token Pax Gold (PAXG) is backed by one fine troy ounce of a London Good Delivery gold bar that is kept in a secure vault. Anyone who owns PAXG has custody of the gold under their ownership rights, which are held by Paxos Trust Company. Because PAXG represents actual gold, its value is directly correlated with the current market price of that actual gold.
Since actual gold is not readily divvied up or transported in a flexible manner, Pax Gold's major objective is to make gold more transferable.
Customers can benefit from owning specific gold bars physically through PAXG while still having the speed and mobility of a digital asset. Customers are allowed to own a portion of actual bars. Customers can swiftly and easily exchange their tokens for allocated gold, unallocated gold, or fiat currency on the Paxos network, lowering their exposure to settlement risk.
One fine troy ounce of gold equals one PAXG token, with a 1:1 ratio between the amount of gold and the total supply of PAXG. The entire supply of gold that makes up PAXG fluctuates regularly as PAXG's market value rises and falls. Owning minuscule fractions of a token that are divisible to 18 decimal places is an option.
The entire PAXG protocol was built on the Ethereum (ETH) blockchain and is protected by a proof-of-stake (PoS) system. However, PAXG is not only compatible with Ethereum and can also be implemented on other blockchains.
Key PAX Gold (PAXG) Advantages:
Paxos's CEO and co-founder is Charles Cascarilla. In addition, he is a partner in Liberty City Ventures and a founding member of the Association for Digital Asset Markets (ADAM) board of directors. His previous positions include portfolio manager at Claiborne Capital Management, financial analyst at Goldman Sachs, and analyst at the Bank of America. He also co-founded and is a partner at Cedar Hill Capital Partners.
The second co-founder of Paxos is named Rich Teo. Prior to that, he was employed by Cedar Hill Capital Partners as a principal and senior analyst. He was a combat signaller for the Singapore Armed Forces as well as a financial analyst at Citi.
Board members include:
PAXG is a ERC-20 token on Ethereum, which means that it can be stored in any wallet compatible with Ethereum-based ERC-20 tokens.
One option to store Pax Gold (PAXG) is Exodus. It is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus will then be tied to whichever device it has been downloaded to which will also be the device you will use to access and manage your crypto assets.
Similarly, a user-friendly option to keep your $PAXG secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting to your MetaMask wallet.
On the other hand, if you are looking for a secure offline method to store your $PAXG tokens we recommend the leading hardware providers Ledger and Trezor.
Always do your homework and due diligence on any wallet service you are considering, and always back up your wallet.
You can Buy & Sell Pax Gold (PAXG) here at BC Bitcoin. Our customers effortlessly Buy PAXG by heading over to the Buy Coins page of our website. $PAXG is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. By simply placing your order and providing your wallet address, coins will be sent straight to your wallet after the payment.
If you would like to sell Pax Gold (PAXG) you can transfer the coins to us and get paid to your bank account immediately. The Sell Coins page has further information and a live valuation.
Website: https://paxos.com/paxgold/
Block Explorer:https://etherscan.io/token/
Twitter: https://twitter.com/paxosglobal
Medium: https://medium.com/paxos
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards