Paxos Gold link is here https://paxos.com/paxgold/ They're the...

Paxos Gold link is here https://paxos.com/paxgold/

They're the same mob that's working with Paypal

What is Paxos Gold (PAXG)?

Paxos Gold was created as an ERC-20 token on the Ethereum blockchain and with it Paxos is looking to solve the fundamental problems with physical gold and the traditional gold markets. Namely, that in the traditional market, investors have no access to a high-quality gold product that easy to purchase, transport, store, and trade.In the traditional markets investors can certainly buy as much physical or allocated gold as they like, but along with the purchase comes the high risk of physical gold. This risk is due to the size and weight or larger gold bars, the expense of storing it safely, the inability to divide it into smaller units easily, and the fact that because it can be difficult to transport it can also be difficult to sell, trade, or use.

The alternative is to trade on unallocated gold futures, CFDs, or ETFs. These are just derivatives, without the backing of any physical gold at all. None of them involve actual ownership of gold. Rather it is little more than speculation of the changing price of gold without any physical gold to back up any of the assets. It makes trading easy, but there is no store of value involved.

Allocated Gold Vs. Unallocated Gold

From an ownership perspective it is probably best to have actual physical possession of any gold you buy. That way you know it is yours and where it is located at all times. You can touch it, move it about, and sell it as you like. But gold is bulky, and storing it yourself carries the risk of theft.

Because of the issues tied to the physical storage of gold most investors are glad to pay someone else to store their gold, and they do this through either allocated or unallocated accounts.In an allocated account the firm you purchase the gold from will use your investment to buy and store physical gold. The buyer is still legally the owner of this gold. This is the method Paxos uses in backing the Paxos Gold token.

Unallocated gold is different in that the company you purchase the gold from doesn’t use your money to buy physical gold. Instead they often use the capital for other investments, but they do promise to deliver gold to you if you request that, or to return fiat currency to you when you’re ready to sell. Unallocated accounts are typically less expensive in terms of fees because they aren’t paying for the transport or storage of physical gold.

The downside is that unallocated gold is more risky as an investment. If your gold provider goes bankrupt there’s no gold waiting to be delivered to you. All you’ll have is an IOU for the gold or equivalent cash, and you’ll be lucky to ever see either.When you purchase allocated gold, or Paxos Gold tokens, you are the legal owner of the gold, and the company is holding your gold for you in a secure location. Even if the company goes bankrupt you’ll be able to claim your gold. This makes allocated gold safer than either unallocated gold or even physically owning the gold yourself.

https://www.coinbureau.com/review/paxos-gold-paxg/#what-is-paxos?