You can deposit or withdraw PAXG from Bitso using the Ethereum Network (ERC-20) exclusively. Make sure you choose this network when transferring your coins.
What is Paxos Gold (PAXG)?
Gold is a global asset independent from any fiat currency or government, it is a universally attractive and timeless storage of value. And with gold-backed digital assets (like PAX Gold), it is now easier and faster than ever to get physical investment-grade gold.
PAX Gold are digital investment-grade gold-backed tokens. In less than a month, the market cap of the token increased nearly 50% from $355 million to $530 million, currently around $660 million.
What makes it unique?
- Instant access and enhanced settlement for investments in Gold through the blockchain
- Regulated, safe and low-cost custody and management of assets in control of the treasury of the issued stablecoins (PAXG)
- Low capital requirements for investing in this asset class
- Enhanced speed in settlement
- There are over 15,000 individual wallets that have PAX Gold, while there are only 400 wallets that have their closest competitor.
The Paxos Gold (PAXG) token is used as a commodity (Gold) backed stablecoin. By purchasing a PAXG you get instant exposure to the gold markets, which may be redeemable for real gold, and that may be used in the Blockchain for other purposes (exchanging, payments and etc…)