In 2019, the Paxos Trust Company released the first crypto asset that was backed by real gold and could be redeemed for it. This was also the very first regulated cyber gold token. The issuer of PAX Gold is a financial institution approved by the New York State Department of Financial Services (NYDFS). Today, you can borrow its tokens instantly.
Paxos is a well-known name in the industry. In the past, it worked with tokens backed by assets, such as the Paxos Standard (PAX). The latter is still regarded as the most liquid of all regulated stablecoins backed by the US dollar. Due to the high status of the company, PAXG has multiple advantages.
Advantages of PAXG Loans
You may get a Pax Gold loan in seconds on reputable lending platforms. It is important to do research with due diligence first to make sure you are getting the best conditions and the platform is legit. Here are a few tips to help you get started. First, consider the advantages.
- You will own real London Good Delivery gold bars with an opportunity to trade them.
- The system is fully regulated.
- You get easy access to the gold market.
- The minimum investment threshold is low (0.01 PAXG).
- Gold is stored for free in the most secure vaults in the world.
- You do not have to borrow a full bar, as fractional ownership is possible (18 decimal places).
A Few Caveats
The asset is more stable than most other cryptocurrencies, but it is still volatile. The value of gold can experience strong fluctuation, which affects the value of borrowed capital. As the demand for physical gold is rising globally, the mining operations are expanding, which may have a negative effect on the environment. Thus, volatility and sustainability are two major concerns.
How to Get a PAXG Loan Instantly
Holders of PAXG have many reasons to keep their assets, so lending platforms let them borrow cash using cryptocurrency as collateral. Such loans are instant. All you need to do is create an account, pass the KYC/AML check and make a deposit into your wallet on the platform.
Then, select from a range of fiat currencies. Most commonly, you may borrow US dollars, Euros, Swiss Francs and British pounds. For loans denominated in USD, the amounts may range from $50 to $2 million. The loan will be processed automatically, and you will be able to choose from a range of plans with different fees. Pay attention to the LTV ratio, which determines the share of your loan that must be backed by PAXG.
PAXG offers many advantages, and selling it makes little sense at the moment. Instant loans are a great opportunity to expand your portfolio. Get more PXG instantly to benefit from its growth!
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