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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

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Paxos Standard

PAX

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Past performance is not a reliable indicator of future results. Learn more about asset risks.

Investment Risk

Baseline risk

All crypto-assets are risky, regardless of the type of token you hold. Here are some ‘baseline’ risks to be aware of before deciding to invest.

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Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.

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Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.

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Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.

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Don’t put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.

Stablecoins

‘Stablecoin‘ (e.g. , ) is the term often used for crypto-assets that claim their value is linked to certain reserve assets such as a fiat currency (e.g. US Dollars). Stablecoins may use a range of different ways to maintain stability, each with their own risks

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Counterparty risk: Where the asset is backed by collateral (e.g. fiat currency) you are relying on a third party to maintain that collateral which introduces risk if the party becomes insolvent or fails to maintain the necessary collateral.

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Redemption risk: If the asset claims to be redeemable for underlying collateral, there is risk that the redemption process will not work as expected e.g. in times of market volatility or due to operational issues.

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Collateral risk: There’s a risk that the value of the collateral could decline or become volatile, affecting the stability of the asset (e.g. where the collateral is another type(s) of crypto-asset(s)).

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FX risk: Lots of stablecoins are denominated in US Dollars, meaning you will be exposed to movements in the USD:GBP exchange rate

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Algorithm risk: If the asset relies on an algorithm to maintain stability (e.g. by adjusting supply based on demand) there’s a risk the algorithm could fail or behave unexpectedly, which might cause the asset to lose its stability and even lose all its value.

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.

Resources

Whitepaper
Official website

Pax Dollar (USDP) is a stablecoin, a type of cryptocurrency designed to minimize price volatility. Launched in 2018 by Paxos, a regulated financial institution, Pax Dollar seeks to combine the stability of the U.S. dollar with the efficiency of blockchain technology. Each Pax Dollar 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 Dollar token in circulation, there is an equivalent U.S. dollar held in reserve, providing a stable value for the token.

Pax Dollar operateås on the Ethereum blockchain, following the ERC-20 protocol. This allows it to be transacted over the Ethereum blockchain in the same way as Ether or any other ERC-20 asset. If a user wants to redeem their USDP, they can send tokens to an address controlled by Paxos. Paxos will then destroy the tokens and transfer fiat currency to the user’s bank account. This process allows for the straightforward exchange of U.S. dollars for Pax Dollar tokens, providing users with the benefits of blockchain assets while minimizing price risk.

Pax Dollar seeks to improve the larger financial ecosystem by creating a global network where all digital assets can be mobilized. It can be used as a means of exchange for other blockchain-based assets, providing an asset for transactions within and across asset classes. It can also be used as a hedge during times of volatility in the digital asset market, allowing investors to limit their exposure to digital asset volatility by holding assets in Pax Dollar. Furthermore, it can facilitate the settlement of assets with fiat currency outside of traditional banking hours, providing a solution for financial institutions and trading firms.

Pax Dollar was created by Charles Cascarilla and Rich Teo, co-founders of Paxos, in September 2018. Paxos, the company behind Pax Dollar, has a charter from the New York State Department of Financial Services, allowing it to offer regulated services within the crypto asset world. The token itself is backed by the USD in accounts that are held by the company at U.S. depository institutions. Since its inception, Pax Dollar has been striving to create a network where digital assets can be transferred with more flexibility

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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.

Market

United Kingdom Market stats

Market cap

£85.2M

Volume (24h)

£991,834.82

Circulating supply

110.1M PAX

Typical hold time

8 days

Popularity

#357

All time high

£531.73

Past performance is not a reliable indicator of future results. Learn more about asset risks.

This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.

United Kingdom Market performance

Price change (1h)

+0.02%

Price change (1d)

+0.01%

Price change (1w)

-0.04%

Price change (2w)

+0.37%

Price change (1m)

+0.24%

Price change (1y)

+0.15%

Past performance is not a reliable indicator of future results. Learn more about asset risks.

This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.

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Of all the assets on Coinbase, these 12 are the closest to Paxos Standard in market cap.

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Paxos Standard is on the decline this week.

The price of Paxos Standard has increased by 0.02% in the last hour and increased by 0.01% in the past 24 hours. Paxos Standard’s price has also fallen by 0.04% in the past week. The current price is £0.77 per PAX with a 24-hour trading volume of £991.83K. Currently, Paxos Standard is valued at 99.85% below its all time high of £531.73. This all-time high was the highest price paid for Paxos Standard since its launch.

The current circulating supply of Paxos Standard is 110,099,030.668 PAX which means that Paxos Standard has as total market cap of 110,099,030.668.

FAQ

What is the current price of Paxos Standard?

We update our Paxos Standard to GBP currency in real-time. Get the live price of Paxos Standard on Coinbase.

What is the market cap of Paxos Standard?

The current market cap of Paxos Standard is £85.21M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Paxos Standard?

The all-time high of Paxos Standard is £531.73. This all-time high is highest price paid for Paxos Standard since it was launched.

What is the 24 hour trading volume of Paxos Standard?

Over the last 24 hours, the trading volume of Paxos Standard is £991.83K.

What other assets are similar to Paxos Standard?

Assets that have a similar market cap to Paxos Standard include Fusionist, Art de Finance, WAX, and many others. To see a full list, see our comparable market cap assets.

How many Paxos Standard are there?

The current circulating supply of Paxos Standard is 110 million.

What is the typical holding time of Paxos Standard?

The median time that Coinbase customers hold Paxos Standard before selling it or sending it to another account or address is 8 days.

What is the relative popularity of Paxos Standard?

Paxos Standard ranks 251 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Paxos Standard?

Currently, 80% of Coinbase users are buying Paxos Standard. In other words, 80% of Coinbase customers have increased their net position in Paxos Standard over the past 24 hours through trading.

Can I buy Paxos Standard on Coinbase?

Yes, Paxos Standard is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Paxos Standard guide.

This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.

Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.

This Financial Promotion has been approved by Archax LTD on February 7, 2024