Pax Dollar (USDP) is a stablecoin that is pegged to the value of the US dollar on a 1:1 basis. It was launched by Paxos Trust Company in 2018 and is regulated by the New York State Department of Financial Services (NYDFS). USDP is backed by US dollars held in reserve, which are regularly audited by third-party accounting firms to ensure that the reserves match the outstanding USDP tokens in circulation.
One of the unique features of USDP is its focus on transparency and regulatory compliance. Paxos Trust Company is a regulated financial institution and is subject to regular audits and oversight by regulatory authorities. This provides investors and users with greater confidence in the stability and security of the USDP token.
USDP can be used for a wide range of applications, including payments, remittances, and international money transfers. It can also be used as a trading pair on cryptocurrency exchanges and as a means of payment for goods and services. USDP is particularly popular among users who wish to trade cryptocurrencies without having to deal with the volatility of other digital assets.
Overall, USDP is a stable and secure digital asset that is designed to provide a reliable means of payment and store of value. Its focus on transparency, regulatory compliance, and stability sets it apart from many other stablecoins in the market, and it has gained significant adoption among investors and traders in the cryptocurrency space. As of April 2023, the price of USDP is approximately 1 USD, as it is intended to maintain a stable value relative to the US dollar.
With a total market cap of over $490 million, Pax Dollar is the No. 66 cryptocurrency by market size. The currency symbol for Pax Dollar is USDP. The total supply of Pax Dollar is 491 million coins.
We found crypto protocols offering up to 14% APY on Pax Dollar deposits (14% APY CeFi, 9.6% APY DeFi) and loans as low as 6.9% APR against Pax Dollar used as collateral. Check out our Pax Dollar staking yields table and Pax Dollar loan rates table for further details.
The technical price analysis for Pax Dollar below is undertaken automatically by Tradingview by looking at over 20 different technical chart indicators. You can see how many of these indicators were BUY, NEUTRAL or SELL at the bottom of the chart. The indicators will change depending on what time frame you are looking at. The analysis does not consider market sentiment or broader macro issues that may affect the price of Pax Dollar.
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Pax Dollar FAQs
QWhat was the highest price that Pax Dollar ever reached?
AThe highest price that Pax Dollar ever reached was $1.13 USD. This all time high price occured on 15 Oct 2018.
QWhat was the lowest price that Pax Dollar ever reached?
AThe lowest price that Pax Dollar ever reached was $0.86353 USD. This all time low price occured on 19 May 2021.
QDoes Pax Dollar have a Reddit channel?
AYes you can find the Pax Dollar Reddit channels at .
QIs Pax Dollar a stablecoin?
AYes Pax Dollar is a stablecoin which means that it's value is pegged to a fiat currency and should maintain a fairly constantly exchange rate with that currency.
QWhat ecosystem is Pax Dollar part of?
APax Dollar is part of the Bnb Chain ecosystem.
QIs it possible to stake Pax Dollar to generate passive income?
AYes, staking is available for Pax Dollar on a number of platforms. For a full list of Pax Dollar staking yields see our list of Pax Dollar staking yields.
QHow much can I earn staking Pax Dollar?
AYou can earn up to 14% APY by staking your Pax Dollar tokens. Check out our Pax Dollar staking yields table for further details.
QWhere is the best place to stake Pax Dollar?
ARight now the best staking rates are on Nexo with an income rate of up to 14% APY.
QWhat is the difference between CeFi and DeFi staking rates for Pax Dollar?
AThe best CeFi staking rate that we could find for Pax Dollar is on Nexo with an income rate of up to 14% APY and the best DeFi staking rate is on Yearn Finance with an income rate of up to 9.6% APY.
QIs it a good time to buy Pax Dollar?
AYou can check the technical indicators for Pax Dollar on the Pax Dollar Price Trend tab. These indicators are based on the analysis of multiple trading signals for Pax Dollar.
QWhere is the best place to buy Pax Dollar?
AYou can find the cheapest exchange on which to buy Pax Dollar on the Pax Dollar Buy tab.
QCan you get a Pax Dollar loan without collateral?
AAlmost all Pax Dollar loans require you to provide collateral of higher value than the value of the loan that you are tkaing it. The only exception to this is Pax Dollar flash loans which allow you to borrow uncollateralised Pax Dollar for a few seconds as part of a wider transaction. You will need advanced coding skills to take advantage of flahs loans. You can compare all Pax Dollar loans on the Pax Dollar Loans tab.
QWhich venture capital firms have invested in Pax Dollar?
AThe following venture capital firms have invested in Pax Dollar: Bain Capital Ventures.
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