GOLD Backed Crypto All You NEED To Know

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19 Sep 2021

TOP Crypto TIPS In My Newsletter a https 3A 2F 2Fsignup coinbureau com 2Fnewsletter a Buy Sell PAXG on Kraken a https 3A 2F 2Fwww coinbureau com 2Fout 2Fkrakenex a Join The Coin Bureau Insider Channel a https 3A 2F 2Ft me 2Fcbinsider a Follow on Twitter a https 3A 2F 2Ftwitter com 2Fcoinbureau a Time Stamps 1 21 How Gold Crypto are the same 3 30 How the Differ 4 50 Paxos Gold Overview 8 30 Buying Redeeming Selling PAXG 12 19 Digix Gold DGX 14 07 Buying Redeeming Selling DGX 16 45 Conclusion Helpful Links Sources Paxos Website a https 3A 2F 2Fwww paxos com 2F a Paxos Gold h a https 3A 2F 2Fwww paxos com 2F a paxgold Digix Website a https 3A 2F 2Fdigix global 2F a Kyber Swap a https 3A 2F 2Fkyberswap com 2Fswap a Gold Market Cap a https 3A 2F 2Fhowmuch net 2Farticles 2Fworlds-money-in-perspective-2018 a Gold vs Crypto Gold and crypto cannot be inflated away There are defined supply constraints that limit the replication of gold and crypto Gold has to be mined and brought to the market Bitcoin has to be hashed in order to generate more bitcoin This is unlike Fiat money that can be printed on a whim whenever they feel like it Gold and crypto are also valuable mainly because of what they are This is unlike other assets such as shares that have to rely on the underlying economy and company financial growth to expand in value Gold and Bitcoin are also highly accepted wherever you are in the world and they can be recast or turned into something else of value Crypto can be moved merely by sending funds to a wallet and around the world in a matter of seconds How They Differ The main ways in which gold and crypto differ is that the one is psychical and the other is digital One has to be sent with security guards and has to be stored in a vault with insurance etc However crypto can be stored on a hardware device and can quite literally move billions across a border Paxos Gold This is a New York Registered trust company that issues the PAX stablecoin However last year they issued their Paxos Gold or PAXG Unlike their PAX stablecoin that is backed by US dollars in bank accounts Pax Gold is backed by physical gold Each PAXG token is backed by an equivalent of 1 troy ounce of physical gold The crypto is backed by a collection of 400-ounce London Good Delivery gold bars that are stored in the Brinks vaults in London PAXG is an ERC20 token that was issued on the Etheruem blockchain Just like with their stablecoin ever time that there is a redemption for some of the gold they will burn the corresponding PAXG In this way they are able to ensure that the two are always equal tokens to the gold backing it This is allocated gold that is backing it PAXG can either be bought from Paxos itself or you could use an exchange like Kraken that has a relatively decent trading volume for PAXG Digix DGX Digix issues a cryptocurrency that is fully backed by physical gold In this case their ERC20 DGX token is redeemable for one gram of gold instead of an ounce like at Pax Gold Digix is based in Singapore and they have been around since December of 2014 The gold is held in Vaults either in Singapore or Canada and the Bullion Association fully accredits and insures the vaults If you wanted to redeem your DGX for some of this gold it is done through a process called recasting Do note though that there is a 1 fee if you did want to recast your tokens and get that gold When it comes to buying DGX this can either be done on the Digix platform or the tokens can be bought from the likes of Kyber Swap There is not much volume anywhere else at this time Which One Will have to recommend Pax Gold given that they have the most liquidity on the open market and that they are regulated by the New York financial services department as a trust company Digix is great if you want to convert smaller amounts into gold but it will be really hard to sell the token once it is bought due to the limited liquidity Disclaimer The information contained herein is for informational purposes only Nothing herein shall be construed to be financial legal or tax advice The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor Trading Forex cryptocurrencies and CFDs poses considerable risk of loss The speaker does not guarantee any particular outcome Gold Crypto Bitcoin Trading inflation cryptocurrency PAXG depression