Convert and Swap Paxos Standard PAX to Euro EUR
PAX/EUR: 1 Paxos Standard equals €0.96 EUR
Last update: 11:06 PM, December 22, 2024
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Paxos Standard market latest
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Paxos Standard is climbing this week.
The current price of Paxos Standard is €0.96 per PAX. With a circulating supply of 93,477,694.948 PAX, it means that Paxos Standard has a total market cap of €89,523,780.76. The amount of Paxos Standard traded has fallen by €350,347.73 in the last 24 hours, which is a 49.07% decrease. Additionally, in the last day, €713,994.05 worth of PAX has been traded.
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About Paxos Standard
The Paxos Standard Token is a stablecoin running on Ethereum. For stablecoins like PAX, the company behind the protocol is responsible for holding reserves that fully back each token. The company behind PAX, Paxos Trust Company, claims to hold reserves that fully back each PAX.
Paxos Standard (PAX) is a stablecoin, a type of cryptocurrency designed to minimize price volatility. Launched in September 2018, PAX aims to combine the stability of the U.S. dollar with the efficiency of blockchain technology. Each PAX token is issued as an ERC-20 token on the Ethereum blockchain and is collateralized 1:1 with the USD held in Paxos-owned U.S. bank accounts. This means that for every PAX token in circulation, there is an equivalent amount of USD held in reserve, providing a stable value for the token. PAX is issued by Paxos, a company chartered by the New York State Department of Financial Services, which allows it to offer regulated services within the crypto asset world.
Paxos Standard operates on the Ethereum blockchain, just like Ether or any other ERC-20 asset. Users can exchange U.S. dollars for PAX tokens, which can then be transacted over the Ethereum blockchain. If a user wishes to redeem their PAX tokens, they can send them to an address controlled by Paxos. Paxos will then destroy the tokens and transfer the equivalent amount in fiat currency to the user's bank account. This process allows PAX to serve as an alternative to fiat currencies, enabling rapid, secure transactions with minimized price risk. In the event of a security threat, Paxos has the ability to pause transfers and approvals of the PAX token, ensuring the safety of the network.
Paxos Standard seeks to improve the larger financial ecosystem by creating a frictionless global network. This network aims to mobilize all digital assets quickly, with a high level of flexibility and accessibility. PAX can be used for a variety of purposes, including as a stable store of value, a medium of exchange, or a unit of account. Because PAX is backed 1:1 by the U.S. dollar, it can provide a stable value in the often volatile cryptocurrency market. Furthermore, because PAX operates on the Ethereum blockchain, it can be integrated with Ethereum-based applications, expanding its potential use cases.
Paxos Standard was created by Charles Cascarilla and Rich Teo, co-founders of Paxos. Cascarilla is a seasoned financial industry professional with experience at firms like Goldman Sachs and Bank of America, while Teo has a background in financial analysis. The pair launched Paxos Standard in September 2018 with the goal of stabilizing the dollar using blockchain technology. Since its launch, PAX has grown to become a well-known player in the stablecoin space, offering users a way to transact with blockchain assets while minimizing price risk.
How Paxos Standard and Euro differ
Paxos Standard (PAX) and the Euro (EUR) are both mediums of exchange, but they operate in fundamentally different ways. PAX is a stablecoin, a type of cryptocurrency that aims to minimize price volatility by being collateralized 1:1 with the USD held in Paxos-owned U.S. bank accounts. This means that for every PAX token in circulation, there is an equivalent amount of USD held in reserve, providing a stable value for the token. On the other hand, the Euro is a traditional fiat currency, governed by the European Central Bank and used by 19 of the 27 member states of the European Union. Unlike PAX, the value of the Euro is not tied to another currency but is influenced by factors such as inflation, interest rates, and the economic health of the Eurozone countries. PAX operates on the Ethereum blockchain, enabling rapid, secure transactions with minimized price risk, while the Euro is transacted through traditional banking and financial systems. PAX seeks to improve the larger financial ecosystem by creating a frictionless global network, while the Euro serves as a crucial component of the economic infrastructure in Europe.
Frequently asked questions
How much is 1 Paxos Standard in EUR?
Right now, 1 Paxos Standard is worth about €0.96.
How much PAX could I buy for 1 EUR?
Based on the current rate, you could get 1.04 PAX for 1 EUR.
How much has the price of Paxos Standard changed?
Paxos Standard price has been on the rise. Since yesterday, the exchange rate of Paxos Standard has increased. Since last month, the exchange rate of Paxos Standard has increased. Since this time last year, the price of Paxos Standard has increased.
How do I calculate or convert PAX to EUR?
You can use our PAX to EUR calculator at the top of this page to convert any amount of PAX to EUR. We've also created a couple of quick reference tables for the most popular conversions. For example, 5 EUR is equivalent to 5.22 PAX. Inversely, 5 PAX will cost about €4.79
How can I buy 1 Paxos Standard on Coinbase?
Paxos Standard is currently available to buy on Coinbase's centralized exchange. Check out our guide to get more detailed instructions on how to buy Paxos Standard.
What are assets similar to Paxos Standard that I can buy?
There are a number of crypto assets that have the a similar or comparable market cap to Paxos Standard, including Fusionist, Art de Finance, and WAX. For a more robust list of assets to explore, jump to the asset page dedicated to Paxos Standard.
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Popular Paxos Standard conversions
A selection of other popular currency conversions of Paxos Standard to various fiat currencies.
PAX to Euro conversion tables
The exchange rate of Paxos Standard is increasing.
The current value of 1 PAX is €0.96 EUR. In other words, to buy 5 Paxos Standard, it would cost you €4.79 EUR. Inversely, €1.00 EUR would allow you to trade for 1.04 PAX while €50.00 EUR would convert to 52.22 PAX, not including platform or gas fees.
In the last 7 days, the exchange rate has increased by 0.05%. Meanwhile, in the last 24 hours, the rate has changed by 0.03%, which means that the the highest exchange rate of 1 PAX to Euro was €0.96 EUR and the lowest 24 hour value was 1 PAX for €0.96 EUR. This time last month, the value of 1 PAX was €0.96 EUR, which is a 0.01% decrease from where it is now. Looking back a year, Paxos Standard has changed by €0.90 EUR.
PAX to EUR performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
€0.96 EUR | 0.03% | €0.95 EUR | 0.05% | €0.96 EUR | 0.01% | €0.90 EUR | 0.25% |
PAX to EUR
Amount | Today at 11:06 pm |
|---|---|
0.5 PAX | €0.48 |
1 PAX | €0.96 |
5 PAX | €4.79 |
10 PAX | €9.57 |
50 PAX | €47.87 |
100 PAX | €95.75 |
500 PAX | €478.74 |
1,000 PAX | €957.48 |
EUR to PAX
Amount | Today at 11:06 pm |
|---|---|
0.5 EUR | 0.52 PAX |
1 EUR | 1.04 PAX |
5 EUR | 5.22 PAX |
10 EUR | 10.44 PAX |
50 EUR | 52.22 PAX |
100 EUR | 104.44 PAX |
500 EUR | 522.20 PAX |
1,000 EUR | 1,044.41 PAX |
Today vs. 24 hours ago
Amount | Today at 11:06 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 PAX | €0.48 | €0.48 | +0.03% |
1 PAX | €0.96 | €0.96 | +0.03% |
5 PAX | €4.79 | €4.79 | +0.03% |
10 PAX | €9.57 | €9.57 | +0.03% |
50 PAX | €47.87 | €47.86 | +0.03% |
100 PAX | €95.75 | €95.72 | +0.03% |
500 PAX | €478.74 | €478.60 | +0.03% |
1,000 PAX | €957.48 | €957.19 | +0.03% |
Today vs. 1 month ago
Amount | Today at 11:06 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 PAX | €0.48 | €0.48 | +0.01% |
1 PAX | €0.96 | €0.96 | +0.01% |
5 PAX | €4.79 | €4.79 | +0.01% |
10 PAX | €9.57 | €9.57 | +0.01% |
50 PAX | €47.87 | €47.87 | +0.01% |
100 PAX | €95.75 | €95.74 | +0.01% |
500 PAX | €478.74 | €478.69 | +0.01% |
1,000 PAX | €957.48 | €957.39 | +0.01% |
Today vs. 1 year ago
Amount | Today at 11:06 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 PAX | €0.48 | €0.48 | +0.28% |
1 PAX | €0.96 | €0.95 | +0.28% |
5 PAX | €4.79 | €4.77 | +0.28% |
10 PAX | €9.57 | €9.55 | +0.28% |
50 PAX | €47.87 | €47.74 | +0.28% |
100 PAX | €95.75 | €95.48 | +0.28% |
500 PAX | €478.74 | €477.40 | +0.28% |
1,000 PAX | €957.48 | €954.80 | +0.28% |
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