Pax Dollar Explained:
A Comprehensive Guide
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How Pax Dollar (USDP) Works
Paxos Standard is a stablecoin with the advantage of transacting with blockchain-based assets while lowering price risks. The Paxos Standard tokens are ERC-20 tokens on the Ethereum blockchain and collateralized 1:1 by USD held in Paxos-owned US bank accounts. This stablecoin is also approved by Wall Street regulators, alongside GUSD and BUSD.
Pax Dollar (USDP) was created to empower everyone and anywhere to send and receive U.S. dollar-based assets. The fees for buying, selling, and trading Paxos are far less.
You can instantly transfer Pax Dollar assets over borders with absolutely no discriminatory requirements. Besides, Paxos provides a stable, decentralized value asset with minimal risk.
For exchanging USD for Pax Dollars (USDP) for both transactional or investment purposes, you need to deposit USD into a Paxos account. Then Paxos will use their smart contract to generate the USDP equivalent of your deposit amount. In turn, the minted USDP will be transferred and held in your account.
After converting USDP to USD, the PAX coins are burned and removed from circulation.
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Click to find out more about Pax Dollar USDP. This information will help you make better investment decisions and thus boost your income.