However, as more businesses begin to accept Paxos Standard as payment, its stability should continue to increase. This could it a popular choice for those looking to invest in digital assets, without having to worry about wild price swings.
PAX is an abbreviation for the word ‘Paxos’, which is also the name of the company that created this digital asset. USDP is the acronym for Paxos Standard Dollar, which is the name of the stablecoin that is pegged to the U.S. dollar.
The goal of PAX and USDP is to provide a more stable alternative to other cryptocurrencies like Bitcoin, which can be incredibly volatile in price. While 1 USDP is always worth $1, it can still fluctuate in value relative to other cryptocurrencies and fiat currencies.
However, as more businesses begin to accept Paxos Standard as payment, its stability should continue to increase. This could it a popular choice for those looking to invest in digital assets, without having to worry about wild price swings.
PAX is an abbreviation for the word ‘Paxos’, which is also the name of the company that created this digital asset. USDP is the acronym for Paxos Standard Dollar, which is the name of the stablecoin that is pegged to the U.S. dollar.
The goal of PAX and USDP is to provide a more stable alternative to other cryptocurrencies like Bitcoin, which can be incredibly volatile in price. While 1 USDP is always worth $1, it can still fluctuate in value relative to other cryptocurrencies and fiat currencies.
However, as more businesses begin to accept Paxos Standard as payment, its stability should continue to increase. This could it a popular choice for those looking to invest in digital assets, without having to worry about wild price swings.
What does the stablecoin do? The goal of Paxos Standard is to provide a stable alternative to other cryptocurrencies like Bitcoin, which can be incredibly volatile in price. While 1 USDP is always worth $1, it can still fluctuate in value relative to other cryptocurrencies and fiat currencies. However, as more businesses begin to accept Paxos Standard as payment, its stability should continue to increase.
PAX was created by the company Paxos, which is also the name of this digital asset. USDP is the acronym for Paxos Standard Dollar, which is the name of the stablecoin that is pegged to the U.S. dollar. Paxos Standard is issued by Paxos, a company that creates and operates regulated stablecoins, including Paxos Standard.
The price of USDP is pegged to the U.S. dollar, meaning that 1 PAX = $1 USD at all times. As such, it does not experience such large swings in price as other cryptocurrencies like Bitcoin do; however, this will likely increase over time as more businesses begin to accept PAX as payment and stabilize its price accordingly.
