PAX Gold (PAXG) way to own investment-grade physical gold, true?

[JohnLocke]

Through another thread, I became acquainted with the PAX GOLD (PAXG) cryptocurrency, which is backed by physical gold as they at least advertise on their website.

Is there anyone who knows more about this company or if there is anything to consider before starting to invest in this cryptocurrency?

 

[diatessaron]

Storing gold costs money, so how does Paxos deal with that? They have no storage fees. They charge a "Creation & Destruction" fee. What happens when traders stop trading? I've also never seen the gold.

 

[wellington]

Storing gold costs money, so how does Paxos deal with that? They have no storage fees. They charge a "Creation & Destruction" fee. What happens when traders stop trading? I've also never seen the gold.

When I queried the bars previously it said they were Russian bullion…

 

[diatessaron]

When I queried the bars previously it said they were Russian bullion…

"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."

Russia isn't on the list, I don't know if it was previously: Good Delivery Current List

This is more interesting than PAXG to me: Goldback

 

[belarus]

From 4000 euro I made 600 euro until now in a few weeks! Not bad and ultra low risk with a low amount I know

 

[jafo]

From 4000 euro I made 600 euro until now in a few weeks! Not bad and ultra low risk with a low amount I know

But if you want to redeem it and get your €4600 now, will you get it?

 

[belarus]

But if you want to redeem it and get your €4600 now, will you get it?

Yeah I have them in kraken can just trade them and get all the money out in seconds.

 

[AtlasShrugged]

I quoted cache golds statement in fullright in my post. Would have been good if you quoted that in full as well.


well that zeihan dude is a joke at best, wouldnt really count on what he says. He was very wrong about bitcoin in 2022 for example and seems a cia propaganda hack. Uttering such nonsense in one area allows me to assume his research and due dilligence process is overall quite sloppy (since he covers what the letter soup feeds him).

I couldn't have said it any better. He called Russia incompetent because they didn't stop the recent terrorist attack but said nothing about Israel not stopping the Hamas attack despite being warned by Egypt and despite having the best intelligence in the world. He's been saying for years that China will collapse. He should perhaps delete some of his older videos. And he has a punchable face + voice on top of it. He belongs to the same clown category as Harry Dent.