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Binance Learn and Earn Quiz Answers Today 21 July 2022
|Date||21th July 2022|
|Time||12:30 PM IST|
Binance Learn and Earn Quiz Answers PAXG
Q 1. The value of a PAXG token is equal to:
Answer – 1 troy oz. of physical gold
Q 2. How do I know PAXG is fully backed by physical gold?
Answer – An independent auditing firm performs monthly checks on Paxos’ gold reserves.
Q 3. PAXG storage fees are
Answer – 0.00%
Q 4. When you own PAXG, you own physical gold. True or false?
Answer – True
Q 5. Paxos holds all customer assets, including PAXG, safely separate from any corporate funds and the company balance sheet. True or False?
Answer – True
Q 6. PAXG is regulated and approved by _
Answer – New York State Department of Financial Services
Q 7. How can a PAXG holder look up their vaulted physical gold’s serial number and physical characteristics?
Answer – Enter their Ethereum wallet address on the PAXG lookup tool.
Q 8. Where are PAXG’s physical gold reserves stored?
Answer – London Bank Vaults
Q 9. Which gold tokens can be redeemed for physical gold?
Answer – PAX Gold (PAXG)
Q 10. PAXG is built as an _
Answer – ERC-20 token on the Ethereum blockchain
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