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What is Paxos Standard coin (PAX) and how does it work?

by Financial Economy

Paxos Standard is a cryptocurrency token issued on the Ethereum platform; The symbol is defined as PAX. Paxos Standard Token has a circulating supply of 208 million coins, all of which are in circulation. Paxos Standard (PAX) is a stablecoin. Detailed information about Paxos Standard coin PAX, how does it work, how to buy, etc. is in the continuation of the article. You can browse here for information about Sushiswap (SUSHI).

What is Paxos Standard coin (PAX) and how does it work?

Paxos Standard has its own motto “Transaction at Internet speed!” determined as. Paxos was developed to transfer money regardless of time and place, with the goal of digitizing the US Dollar. PAX is a stablecoin that is important for the stable coin of the US Dollar along with Blockchain technology.

Paxos is regulated by the New York Financial Services Division; It acts as an intermediary between real and digital currencies. Paxos is a fully collateralized stablecoin with dollars. So its price is always at the levels of 1 PAX = 1 USD. Paxos Standard was founded in 2018 and is developed by Charles Cascarilla and Rich Teo.

Paxos Standard describes this cryptocurrency on its website as “a cryptocurrency with no transaction, payment and conversion fees charged”. Another convenience is that there are no limits on purchase and sale transactions and payment channels. The platform on which PAX was developed is the Ethereum Blockchain. It provides the opportunity to convert cryptocurrencies that are not stable in value to a crypto currency integrated with the dollar.

So where to buy PAX? Paxos Standard (PAX) can be purchased on cryptocurrency exchanges. However, before making a transaction, it should be sufficiently investigated whether the crypto money exchange to be traded is reliable. This research will benefit investors.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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