Have you heard of PAXOS GOLD (PAXG) CRYPTO? It’s a Crypto token backed by 1 Troy Ounce of Gold, stored in LMBA Vault in London. When you own PAXG, you own the Physical Gold it’s backed by. PAXG is the only gold token you can redeem for LBMA-accredited Good Delivery gold bullion bars. Paxos website provides a Gold Allocation Lookup tool that you can use to lookup the serial number and information about your Gold.
I have recently bought 30 dollars of PAXG on Gemini, transferred it to my Exodus software wallet, and was able to use the Lookup tool to verify that the PAXG in my wallet is backed by real physical gold in the vault.
Many ask, when we get the Wealth Transfer through crypto, what should we keep our profits in, since the Dollar is expected to crash and any Stablecoins like USDT/USDC will go down in value along with the Dollar. I plan to convert some of my profits into PAXG. This is not financial advice, so please do your own research on this.
Yes, it’s a good idea to have some Physical gold and silver. But when you have 100 million dollars of profits in your crypto wallet, from your Shiba Inu sell orders. And the exchanges and banks are crashing. It may not be that easy to buy physical gold, with your crypto inside of your non-custodial wallet. But you can easily convert your crypto to PAXG on an exchange or just by swapping it in most wallets that have built-in defi exchange/swaps. I have heard that some bullion dealers may take crypto as payment for Gold and Silver. But I would imagine (have not tried myself) there being a lengthy verification process, to prove how you obtained that crypto, and that you’re not a criminal trying to launder money. But Buying and Selling PAXG is instant.
You can use Coinmarketcap or Coingecko to check which Exchanges currently Trade PAXG.
https://www.coingecko.com/en/coins/pax-gold
https://coinmarketcap.com/currencies/pax-gold/#Markets
Pax Gold
The safest way to own investment-grade physical gold
A digital token, backed by physical gold
PAXG offers investors a cost-effective way to own investment-grade physical gold with all the benefits of the blockchain. Each Pax Gold (PAXG) token is backed by one fine troy ounce of gold, stored in LBMA vaults in London. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.
Cost-efficient
Paxos offers PAXG at a lower cost structure than that of other gold tokens, gold ETFs and LBMA 400 t oz bars, with a low minimum purchase amount and zero storage fees.
Secure and regulated
The allocated gold that backs PAXG is custodied in LBMA vaults and audited monthly. Paxos is a trust company and custodian regulated by the New York State Department of Financial Services.
No settlement risk
Purchasing PAXG is free from settlement and credit risk, with near instantaneous settlement in addition to T+2 (versus only T+2 for Gold ETFs and LBMA bars).
Redeemable
PAXG is the only gold token you can redeem for LBMA-accredited Good Delivery gold bullion bars. Institutional customers can also redeem for unallocated Loco London Gold. Redeem for USD at current gold market prices at any time.
Gold Allocation Lookup
Every Pax Gold token is backed by an ounce of allocated gold. Use this tool to lookup the serial number and information about your gold.
This Lookup tool is for PAXG held in on-chain Ethereum wallets (not custodial exchanges/wallets). For PAXG held on Paxos, login to view your allocation report.
The Pax Gold Ecosystem
Pax Gold is now handled by over 50 vaults, exchanges, wallets, lending platforms and more.
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PAXG is on the Ethereum Network (ERC-20). This means transferring PAXG uses ETH, which gets a little expensive at times. I paid $1.65 gas fee, which is not too bad. There are ETH Gas Tracker websites out there, that let you see historical gas prices as well as current price. Reviewing them, I noticed Sundays are the cheapest for transferring on the Ethereum network. Some of these trackers even let you set up alerts to let you know when it’s very cheap so you can transfer it then. Here are the two sites I used. I found Blocknative very useful and it has a browser extension. Although Blocknative only displays gas fees in GWEI, the Cryptoneur site displays then in dollar amount.
See youtube community post for more details: https://www.youtube.com/post/UgkxOBmmd012CWJBMZad8FcSX1kE2kGVKUIz
Prophetic Money