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PAX Gold (PAXG) is an ERC-20 stablecoin backed by physical gold reserves held in secured vaults. You can trade PAXG on crypto exchanges like Binance.
Binance PAXG Quiz Answers
Question 1: The value of a PAXG token is equal to:
Answer is : 1 troy oz. of physical gold
Question 2: PAXG is regulated and approved by ____
Answer is : New York State Department of Financial Services
Question 3: When you own PAXG, you own physical gold. True or false?
Answer is : True
Question 4: Where are PAXG’s physical gold reserves stored?
Answer is : London Bank Vaults
Question 5: PAXG is built as an ____
Answer is : ERC-20 token on the Ethereum blockchain
Question 6: Which gold tokens can be redeemed for physical gold?
Answer is : PAX Gold (PAXG)
Question 7: PAXG storage fees are:
Answer is : 0.00%
Question 8: How do I know PAXG is fully backed by physical gold?
Answer is : An independent auditing firm performs monthly checks on Paxos’ gold reserves.
Question 9: How can a PAXG holder look up their vaulted physical gold's serial number and physical characteristics?
Answer is : Enter their Ethereum wallet address on the PAXG lookup tool.
Question 10: Paxos holds all customer assets, including PAXG, safely separate from any corporate funds and the company balance sheet. True or False?
Answer is : True