The Paxos Standard (PAX) crypto asset will soon be listed on Indodax this week. PAX is a fiat collateral stablecoin that has a value of 1:1 at a US Dollar price.
Description of Paxos Standard (PAX) Crypto Asset
Paxos Standard is a data-backed stablecoin. Paxos Standard offers the advantages of transacting with blockchain assets through minimized price risk.
The founder of Paxos is Charles Cascarilla who is also the CEO. He is also a founding board member of the Association for Digital Asset Markets (ADAM), and a partner at Liberty City Ventures.
He is also a co-founder and partner at Cedar Hill Capital Partners, and his past experience includes portfolio manager at Claiborne Capital Management, financial analyst at Goldman Sachs and analyst at Bank of America.
Rich Teo is the Co-Founder of Paxos. Previously, he worked as Principal/Senior Analyst at Cedar Hill Capital Partners. He is also a financial analyst at Citi, and a combat signaler in the Singapore Armed Forces.
The Uniqueness of Paxos Standard (PAX) Crypto Assets
Paxos Standard is a stablecoin that allows any user to exchange US dollars for PAX Tokens. Its main goal is to stabilize the dollar with blockchain technology.
The Paxos company has a charter from the New York State Department of Financial Services that allows them to offer regulated services in the crypto asset world. The token itself is backed by USD in accounts held by companies in US depository institutions.
Paxos Standard was built to enhance the larger financial ecosystem through the creation of a frictionless global network. Here, all digital assets can be mobilized quickly, with a high degree of flexibility and accessibility.
Paxos’ goal is to create a future where digital assets, commodities and securities can be transferred anywhere, anytime.
PAX can be transacted via the Ethereum blockchain in the same way as Ether or any other ERC-20 asset. If users wish to redeem PAX, they can send tokens to an address controlled by Paxos.
This will destroy the token and transfer the fixed currency to the user’s bank account. Through this presence on the public blockchain, it can enable traders and exchanges to use PAX as an alternative currency.
It can also help them outsource their banking requirements to Paxos. It also allows Paxos to be easily integrated with Ethereum based applications.
When there is a security threat, Paxos may pause the transfer and approval of PAX Tokens. This ability to pause is controlled by a single owner role, such as OpenZeppelin’s.
The model follows Pausable OpenZeppelin. OpenZeppelin contracts help you minimize risk by using a proven smart contract library for Ethereum and other blockchains.
Due to the fact that it has a regulated trust, Paxos can legally transfer assets and money. By combining those permissions with blockchain technology, transactions can be carried out quickly, securely and risk-free.
How to Buy Paxos Standard (PAX) Crypto Assets on Indodax
Well, this week, the Paxos Standard (PAX) crypto asset will be listed on Indodax, namely open deposit on July 28, 2021 at 14:00 WIB and open trading on July 29, 2021 at 14:00 WIB.
Here’s how to buy it:
- For those of you who are not yet a member, click the link here.
- After that, make a deposit. For those of you who are confused about how to deposit, if you click this link
- After your deposit and balance come in, you can return to the market.
- Look for PAX. Then click
- After entering, all you have to do is buy by filling in the balance and at what price you want to buy PAX. Or you can also buy it instantly or directly.
- After that, you need to patiently wait for the price to increase for some time.
- After the price increases, you can sell it at a higher price with the instant method.
- If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.