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Gold backed crypto
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Blake2 Offline
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Post: #1
Gold backed crypto
https://www.paxos.com/paxgold/


"PAX Gold (PAXG) is a digital asset where one token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s gold vaults. Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company."


Good investment for recession times?

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09-06-2019 12:44 PM
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John Michael Kane Offline
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Post: #2
RE: Gold backed crypto
I don't see the point. Crypto best strength is being delinked from outside resources or fiat currency. If you want to buy gold, buy physical gold. If/when SHTF, you want the actual gold as a hedge, not going through a crypto exchange, at which point it will be too late.

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09-06-2019 02:13 PM
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Swordfish1010 Online
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Post: #3
RE: Gold backed crypto
It’s a really bad idea. Buy bitcoin instead.
09-06-2019 02:31 PM
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zoom Offline
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Post: #4
RE: Gold backed crypto
You're better off buying real physical gold.
09-06-2019 03:16 PM
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[email protected] Offline
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Post: #5
RE: Gold backed crypto
Pax gold is basically for Bitcoin traders that go back and forth between Bitcoin and gold. Sell Bitcoin for gold when it goes up and buy Bitcoin with gold when it goes down.
09-07-2019 10:49 AM
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