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Pax Gold (PAXG) is a gold-backed cryptocurrency that was released in September 2019 by the inventors of Paxos Standard (PAX). Pax Gold is a tradeable ERC-20 token that operates on the Ethereum blockchain. It is available on a wide range of exchanges and has become a popular option for traders to begin investing in gold. The primary purpose of Pax Gold is to make gold more marketable, as the actual commodity is not easily divided or transportable. This is why Paxos Standard decided to establish a gold-backed cryptocurrency.Pax Gold distinguishes out among the expanding number of ERC-20 tokens available for purchase because it is backed by a well-known commodity. One of Pax Gold's key aims is to make gold investment more accessible.The price of PAXG is linked to the price of the gold it represents, which is susceptible to market fluctuations. Through fractional ownership, the token aims to make acquiring gold bullion easier, quicker, and more accessible.