On this page we have summarized the most common questions in order to answer them in the best possible way.
This is all about the cryptocurrency Pyrrhos or also known as PGold.
Pyrrhos is probably the best known cryptocurrency that is covered with real gold.
You can buy our cryptocurrency PGold on various exchanges or exchange directly from Ethereum on our website.
To do this, please use a browser extension called MetaMask.
You can trade our cryptocurrency Pyrrhos as normal on various exchanges for other cryptocurrencys or you can also
exchange your PGold tokens for real physical gold and have it sent to you.
All of our Pyrrhos Gold Tokens in circulation are 100% backed with real physical gold.
In this way, the stability of the cryptocurrency Pyrrhos is always guaranteed and thus a safe investment option and a safe investment.
Our gold reserves are currently stored in various countries under the highest security measures.
By tokenizing the gold, it is much easier and safer for you as a customer to hold or trade larger amounts of gold.
Should you ever have a question, you can of course contact us at any time and we will answer your questions as soon as possible.
What is Pyrrhos about?
The Pyrrhos / PGold token has set itself the task of converting gold that is in physical form into digital tokens. So they no longer have to worry about storing the physical gold, they just have to hold the digital token. But this has the same value as real physical gold.
Is Pyrrhos/PGold a stable Coin?
Yes, because the price of our tokens is covered 1 to 1 with the current gold price and is also deposited with physical gold. There may be fluctuations in the price of the token, as the price is based on the currently traded gold price. That means: if the gold price changes on the world stock exchanges, the price of the PGold token also changes.
Is it possible to convert my tokens to physical gold?
Yes, of course, this function is currently in beta in our system. Once we’re done with the design, an option will be posted here on the page and you can exchange your PGold tokens for physical gold.
Can I trust the Pyrrhos company?
Yes, you can trust us to properly manage all funds and physically deposited gold deposits.
We also issue financial reports at regular intervals, which are then published on our website.
What is the profit used by the company Pyrrhos T.C. makes?
The profit that Pyrrhos T.C. makes is used to further expand the company and strengthen the token’s ecosystem.
Furthermore, the profit is used to be listed on more and more exchanges.
Where can I buy the Pyrrhos / PGold token?
We are adding our PGold token to more and more exchanges. Check out our latest news and announcements.
Otherwise you can also buy the token directly on our website.
Who can I contact if problems arise?
You can contact us at any time with problems or suggestions via email.
We try to process your inquiries as soon as possible.
What is an ERC20 token?
An ERC20 token is a blockchain-based asset with similar functionality to bitcoin, ether, and bitcoin cash: it can hold value and be sent and received.
The major difference between ERC20 tokens and other cryptocurrencies is that ERC20 tokens are created and hosted on the Ethereum blockchain, whereas bitcoin and bitcoin cash are the native currencies of their respective blockchains.
ERC20 tokens are stored and sent using ethereum addresses and transactions, and use gas to cover transaction fees.
ERC20 is an official protocol for proposing improvements to the Ethereum (ETH) network. ERC stands for Ethereum Request for Comment, and 20 is the proposal identifier. This is a common standard for creating tokens on the Ethereum blockchain.
This token standard defines a set of rules that apply to all ERC20 tokens that allow them to interact seamlessly with one another.
Wallets and exchanges use the standard to integrate various ERC20 tokens onto their platforms and facilitate exchanges between ERC20 tokens and other cryptocurrencies.
Why do I need ETH to send my PGold?
Because PGold is an ERC20 token, every transaction with it takes place on the Ethereum blockchain and therefore requires that the sender pay a fee in ETH to get the transaction confirmed. Learn more about this fee here.
You will need a small amount of ETH in order to Swap your PGold for any other cryptocurrency within the Blockchain Wallet or to send it externally to a third-party exchange or platform. However, you do not need to keep an ETH balance in order to receive or to store PGold in your Blockchain Wallet. If you don’t have enough ETH to use your PGold, you can Swap for it from another cryptocurrency or receive it from another exchange or platform.
What is gas?
A gas unit is the smallest type of work that is processed on the Ethereum network.
Validating and confirming transactions on the Ethereum blockchain requires a certain amount of gas, depending on the size and type of each transaction.
Gas measures the amount of work miners need to do in order to include transactions in a block.
What is the benefit of having physical assets on a blockchain?
Physical gold on the blockchain has the advantages of representing legal ownership of physical allocated gold, but does not have the drawbacks of limited transportability or high storage costs usually associated with it. Instead, it has the divisibility, fungibility and tradability of any digital asset like bitcoin. In other words, the best of physical and digital assets at the same time!
Can i get a fractional amount of a Pyrrhos Gold Token (PGOLD)?
Yes. It is possible to own tiny fractions of a token, which are divisible out to 18 decimal points.
What does allocated and unallocated gold mean?
When a customer trades for allocated gold bars, they receive ownership rights to specific gold bars that are held in a precious metal dealer’s vault on the customer’s behalf. Allocated gold is identifiable with a unique serial number, purity, and weighting for each bar.
When a customer trades for unallocated gold, they do not have actual ownership over specific gold bars; instead, they have a general entitlement to a certain quantity of gold that an institution promises to deliver. This is hypothetical gold and is a liability of the institution that one has a claim against. This is similar to the way a traditional bank operates – customers don’t own specific notes, but rather they have a credit that can be paid out upon request.
What are the fees associated with PGOLD ?
Whenever you buy or sell PGOLD from any exchange, the exchange charges small fees to process both the creation and destruction of PGOLD tokens. This includes all sales or conversions of PGOLD Token to or from USD or EURO.
Whenever PGOLD tokens are sent via Ethereum, the system charges a small (0.02%) transaction fee, and the Ethereum network charges nominal gas fee (in Ethereum).
What are on-chain transaction fees? Are they the same thing as “gas”?
Sending a PGOLD token from one ERC-20 address to another, such as when moving funds from a wallet to an exchange, is an on-chain transaction; possession of the token is transferred and recorded on the Ethereum blockchain.
There are two kinds of fees that ocour when you send PGOLD on the blockchain:
– Standard gas fee: Sending digital assets on Ethereum, requires computing power, or gas. Just like any other Ethereum token, PGOLD requires standard gas fees paid in ETH to compute the transaction.
– PGOLD on-chain transaction fee: PGOLD charges an additional fee. That fee is set to 0.02% of the amount of PGOLD sent on the blockchain.
For example, if you want to send 10 PGOLD from one Ethereum address to another, and you want to ensure that the receiver gets at least 10 PGOLD after fees, you should send at least 10.0020004001 PGOLD total to cover the cost of the on-chain transaction fee. If you initiated a transfer of 10 PGOLD, the receiver would get 9.998 PGOLD after fees.
Can I convert my cryptocurrency Token into real physical gold?
You have the option to exchange your PGold tokens for real physical gold here on our
website and thus the certainty that the PGold tokens in circulation are always covered with
the sufficient amount of real gold. This is also what sets us apart from our competitors
and competitors, no other token or coin on the market offers this option.