This article was first published on Metal Blog
While there are lots of different types of investments, people often use broad categories to describe where they are investing their money. Stocks represent a share of a company, bonds represent your trust in the issuer; real estate represents ownership of private property, and precious metals represent possession of physical valuables.
Cryptocurrency is a completely different type of investment for those who enter this space. Unlike the other categories mentioned above, cryptocurrency is fundamentally different in that it is easily movable, exchangeable, and securable. With cryptocurrency, there’s no need for a giant safe or for hiring an expensive broker – you’re in charge of where your holdings go and what happens to them.
One cryptocurrency that seeks to apply these advantages to a totally different type of investment is Paxos Gold (PAXG). With PAXG, holders gain ownership to actual physical gold while maintaining the flexibility offered via cryptocurrencies. Seem too good to be true? Read a bit further to see how this works, why people use PAXG, and what it means for Metal Pay users.
What is Paxos Gold?
Designed with compliance and transparency in mind, Paxos Gold offers people a way to own actual gold that is held in custody with Brink’s (you might know them as the armored truck company that picks up cash from businesses). Essentially, this means that each PAXG coin represents one fine troy ounce of gold – allocated with a specific serial number that is attached to a specific gold bar.
Can’t afford an entire ounce of gold? PAXG, like most cryptocurrencies, allows you to hold a fraction of a coin – making fractional investment in gold easier than ever. By owning PAXG, you gain ownership of verified vaulted gold without the need to store it yourself.
Making Gold More Accessible
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