What is Pax Dollar? Pax Dollar is a US dollar backed cryptocurrency. It depends on the Paxos platform. It is one of the investors’ favorite stablecoins. It is built on the Ethereum blockchain. It is an ERC-20 token.
Pax What is a Dollar?
The purpose of the Pax Dollar (USDP) Coin project is to provide money transfer by fixing it to the US dollar like other stablecoins in the market. It is a cryptocurrency indexed to the US Dollar. Paxos is a fiat-backed stablecoin. The platform is collateralized at a US dollar equivalent value in its own bank. The founders of Paxos Standard are Charles Cascarilla and Rich Teo. The platform was established in September 2018. Paxos Standard is a stablecoin that allows each investor to convert their US dollars into their own tokens as they wish.
Paxos Standard is a project designed to make the financial ecosystem larger by creating a global network. As of March 8, when this article was written, the price of 1 USDP Coin is 14.40 TL. It is equivalent to $ 0.99 with the current dollar rate. There has been no change in the price in the last 24 hours. While the amount of supply in circulation in the markets is 945,642,940 USDP Coins, the maximum supply amount is unknown. Pax Dollar(USDP) Coin is ranked 79 on the CoinMarketCap cryptocurrency market. In addition, the total market value is 13,629,075,655 Turkish Liras.
Advantages and Disadvantages
Investors can even trade commodities. Investors’ crypto assets are stored completely risk-free. Paxos enables transactions with blockchain assets, minimizing price risk. Thus, thanks to this project, transferring money in the crypto money market is as easy and fast as transferring between wallets. International money transfers can be made for a very low commission fee.
Disadvantages
It cannot be said to be fully decentralized like other cryptocurrencies. It is an undeveloped technology in terms of security. It has serious vulnerabilities.
Pax What is a Dollar? How to Get Pax Dollar (USDP) Coin?
USDP Coin is listed on trusted, popular and trading volume exchanges such as Binance, Mangala Exchange, Sushiswap, Hotbit Korea, Bittrex and Bitglobal. First, enter any exchange platform where the above-mentioned USDP Coin is listed. Then enter the free account creation page. After entering the requested information, create your account.
Complete the authentication process steps completely. Then, after completing the account opening and verification process, transfer money from the deposit tab of the exchange with the method that is convenient for you. In the last step, enter the exchange tab where USDP Coin is listed. You can easily have USDP Coin at the current price or by entering the amount you want.
