Buy PAX Gold in Australia

PAX Gold

PAXG
Currency=PAXG.svg
$0.000AUD
Past performance is not indicative of future results. All prices are sourced from CoinJar Indices.
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PAXG
Buy PAXG

Overview

#91Popularity
Tokenised AssetAsset type
2019Active since

What is PAX Gold?

PAX Gold (PAXG) is an ERC-20 token that lets you take fractional ownership of a real world gold bar.

Every PAXG token corresponds to one fine troy ounce (slightly heavier than a regular ounce) of a London Good Delivery gold bar being held in the London Bullion Market Association (LBMA) member vaults in London. The token provides ownership rights to the corresponding amount of gold and can be redeemed for actual gold bullion bars.

As PAXG represents gold itself, its value is tied to the real-time market value of physical gold.

How does PAXG maintain its value?

Since PAXG represents physical gold, its value is tied to the real-time market value of that physical gold.

If I buy PAXG, do I own the underlying gold represented by the token?

All owners of PAXG have ownership rights to that gold under the custody of the Paxos Trust Company, LLC, a New York limited purpose trust company. At any time, PAXG holders can look up the serial number, value and physical characteristics of their vaulted gold by entering their Ethereum wallet address on the PAXG lookup tool. Please note that customers must to withdraw their PAXG tokens to their own wallets in order to use this functionality.

Paxos also releases monthly attestation reports which can be viewed on their Transparency page.

Learn more: https://paxos.com/paxg-transparency/

How do I redeem my PAXG for physical gold?

You may redeem your PAXG for a physical gold bar by initiating a sell request through the Paxos wallet dashboard on the PAX Gold page. For redemption of PAXG into physical gold bars, you will need to have a minimum of 430 PAXG, plus fees, given that London Good Delivery gold bars range from 370-430oz. Please note that Paxos can have the gold bar securely delivered only to vaults in the UK. Paxos maintains strict rules for the redemption of physical gold. Only individuals registered with Paxos as account holders can redeem gold. Other individuals may not redeem gold on behalf of the account holder.

What risks should I be aware of when purchasing PAXG?

The value of gold will fluctuate daily and may be negatively affected by a wide variety of factors including local and global economic conditions, political conditions and social unrest.

Legislative and regulatory changes or actions at the state or federal level may change or affect the use, transfer, exchange and value of PAXG tokens.

There is also a risk that you may not be able to redeem your PAXG tokens if the underlying assets are not made available by the custodian to you, or if the issuer becomes insolvent or otherwise fails.

Learn more: https://paxos.com/pax-gold-terms-conditions/

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