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While modern investment options such as NFTs and crypto have gained popularity in recent years, physical commodities are still all the rage, with demand for gold reaching over 4,000 metric tons in 2021. Globally, the crypto market capitalization surpassed the $2 trillion mark last year as well. Many investors now find themselves face-to-face with the question: Which option to choose — crypto or gold?
PAX Gold has found a way to provide a hybrid investment option of cryptocurrency linked directly to physical gold assets, hence appealing even to investors who are used to traditional options. This article will discuss PAX Gold (PAXG) and examine its viability as an investment.
PAX Gold (PAXG) is an asset-backed token issued by Paxos. One PAXG token represents one fine troy ounce of a London Good Delivery gold bar stored in Brink's professional vault facilities.