In this guide you’ll get information about where to buy PAX Gold, if you are planning to buy PAXG token – You’re in the right place!
One of the main concerns about cryptocurrency is its real-world presence. Many users hesitate to buy a token because it doesn’t have a backup asset. Therefore, Paxos has the innovative idea to bring up a 1:1 gold token.
Users who buy PAX Gold (PAXG) tokens don’t have to worry about their assets’ liquidity. PAX gold will mint a token when a user purchases it. The minimum purchase is 0.01 PAXG to receive a gold equivalent. Users also can redeem their tokens for gold instantly. And since PAX Gold doesn’t charge any custody fee for the gold, users don’t have to worry about losing their assets. The platform partners with Brink’s bullion vaults in London. And it has approval and is under regulation from the New York State Department of Financial Service.
Table of Contents
PAX Gold (PAXG) Features
- Investment-grade physical gold: PAX Gold focuses on providing high-quality gold for the users. The platform has a working partnership with Brink’s Bullion Bank in London to store the gold. PAX Gold mints the PAXG token automatically when a user purchases at least 0.01 PAXG. London Bullion Market Association regulates and standardizes physical gold. One gold bar is about 300-400 troy ounces with a minimum quality of 99.5% gold.
- Flexible: PAX Gold provides high flexibility that no other platform has. Users can choose to invest and switch their PAXG token to fiat or another token. They also can redeem their PAXG tokens for physical gold. Users who have a large amount of gold can redeem it through Paxos.com and receive a London Good Delivery gold bar. But if they have small amounts, they can go to Bullion Exchange to redeem their tokens.
- 1:1 gold ratio: What makes the PAXG token unique is the length the platform takes for financial audit. Paxos works with at least two auditors to keep both financial and smart contracts transparent. The team also aims to have a reserve that has a 1:1 ratio with the amount of gold held in the vault.
Where to Buy, Sell and Trade PAX Gold aka PAXG
You can basically use debit card, credit card, or even PayPal to buy the PAX Gold (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the PAX Gold as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to PAX Gold. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports PAX Gold currency and exchange your Ethereum / Bitcoin / Tether with the PAX Gold
- Store your PAX Gold to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying PAX Gold, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with PAX Gold:
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the PAXG/BTC or PAXG/ETH or PAXG/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you PAXG/USDT – so you need to convert your BTC or ETH to USDT first in order to buy PAX Gold (PAXG)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your PAX Gold (PAXG) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy PAX Gold (PAXG) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the PAX Gold. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy PAX Gold (PAXG) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy PAX Gold (PAXG) with Skrill?
You can’t buy PAXG directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to PAX Gold. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy PAX Gold (PAXG) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair PAXG/BTC and begin the transactions.
Can I Buy PAX Gold (PAXG) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support PAXG/ETH trading pair.
What Is the Best Payment Method to Buy PAX Gold (PAXG)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the PAX Gold right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect PAX Gold (PAXG)?
Once you have purchased the PAX Gold, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell PAX Gold (PAXG)?
Find a crypto exchange which allow pairing PAXG with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine PAX Gold (PAXG) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a PAX Gold is to buy it from a reliable exchange.
Users who buy PAX Gold (PAXG) tokens can redeem their tokens into physical gold. The platform has partners all over the world to provide the bullion. With a 1-ounce troy of gold equal to a 1 PAXG token ratio, users also can rest assured that their assets are growing. The platform has the license to trade gold from the NYDFS. PAX Gold also offers high flexibility and zero custody fee for the gold asset. Users can earn the best of both worlds when they are holding PAXG tokens.