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?

 

[Rotor]

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.

The only logical explanation is that they are leasing their gold and earn revenues for that. Back to the usual shenanigans with multiple claims on the same gold bars.

 

[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.