India’s most trusted and secured cryptocurrency exchange WazirX lists PAX Gold (PAXG) on Monday, 17th May. PAXG is listed in both INR and USDT market and the trading is now open.
Basically, PAX Gold (PAXG) is a digital asset issued by Paxos. We will discuss it in detail in the later section. The listing of PAXG on WazirX is a part of the rapid listing initiative, so users are not allowed to deposit and withdraw PAXG from other wallets.
Monday, 24th May — Wednesday, 26th May: 48-hour long Highest Trader Kaun Marathon with prizes of ₹7,20,000 ($9,000) worth PAXG for top 150 traders.
Monday, 31st May — Wednesday, 2nd June: 48-hour long Highest Trader Kaun Marathon with prizes of ₹7,20,000 ($9,000) worth PAXG for top 150 traders.
AMA
A live AMA with Carl Vogel, Paxos Global, is scheduled on Monday, 17th May, 5 PM IST where you will learn almost everything about PAXG. Participate in this live AMA in the official Telegram group of WazirX and stand a chance to win $150 worth of PAXG.
Quiz
Also, a fun quiz session about PAXG is scheduled for Wednesday, 19th May, 6 PM IST. Users can participate in this via the official WazirX Discuss telegram channel. You can refer to these reading resources to stand a chance to win:-
This contest is scheduled for Thursday, 20th May, 12 PM IST on the official WazirX Instagram page. A total of 5 questions will be shared on the Instagram story, choose the correct answer and win prizes.
Highest Trader Kaun Marathon: PAXG/INR
WazirX has scheduled the two highest trader kaun marathon with a total prize of ₹7,20,000 (~ $9,000 USD) worth PAXG. The 1st one will be from Thursday, 20th May, 9 AM — Saturday, 22nd May, 9 AM IST and the 2nd one from Thursday, 27th May, 9 AM — Saturday, 29th May, 9 AM IST.
Trader Rank
Prizes/Person (PAXG)
INR Worth
1
0.8741
1,29,600
2
0.4856
72,000
3
0.2428
36,000
4 – 10
0.1457
21,600
11 – 20
0.0728
10,800
21 – 30
0.0389
5,760
31 – 40
0.0243
3,600
41 – 50
0.0146
2,160
51 – 100
0.0097
1,440
101 – 150
0.0049
720
The prizes will be based on the total PAXG/INR traded volume in the 48-hour long trading contest marathon.
About PAX Gold (PAXG)
PAX Gold is a gold-backed digital asset issued by Paxos. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.
A user can choose to redeem her PAXG tokens with Paxos, and receive the corresponding value her tokens represent in USD. If a user holds more than 430 PAXG tokens, she has the choice to redeem her tokens in exchange for physical gold bars.
The issuance of PAXG is approved by the New York State Department of Financial Services (NYDFS). You can read the PAXG Whitepaper here on the official website for more information.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
