The Coronavirus pandemic has disrupted the entire world. Traditional financial markets, as well as digital asset markets, have experienced extreme volatility. One asset that has held out relatively well is physical gold – a commodity that continues to interest certain investors in times of extreme risk.
In response to this rising demand, Smart Valor, a digital asset marketplace based in Switzerland, has decided to list tokens tied to physical gold. Smart Valor will be listing PAX Gold (PAXG). The crypto will be traded against CHF, EUR, GBP, USD, USDT, and BTC.
Kyle Libra, Product Director at Paxos, said that PAX Gold is the fastest and easiest way to buy, own and trade the highest-quality physical gold.
“Given the volatile market environment, it’s important that investors around the world can access this safe-haven asset quickly and easily – PAX Gold does just that.”
According to an email from Smart Valor, as of this Thursday (10AM CET) investors will be able to buy physical gold at the current market price through the Smart Valor exchange for fiat and cryptocurrencies.
Smart Valor issued the following statement:
“In the cryptocurrency markets, we have experienced sharp drop last Friday with Bitcoin falling to 3’900 CHF. Meanwhile, it recovered to current levels of around 5’000 CHF. During the last 5 days, we have observed a considerable increase of buy limit orders on the Smart Valor exchange. Whereas some market participants see current low-price level as the opportunity to buy and get additional exposure, we would like to highlight that overall flight-to-safety and leverage-induced liquidations might further dry up the liquidity in the market and lead to a further price decline and high volatility. Therefore we recommend to stay cautious. “
Stay cautious or perhaps buy gold.
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