Last update: Jun 6, 2022

How to Buy PAX Gold (PAXG)

So you’re looking for a guide on how to buy PAX Gold. Depending on where you’re based, you’ll have a few cryptocurrency trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

How to Buy PAX Gold – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have PAX Gold of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto trading platforms.

4. Buy PAX Gold

Now that you have what you need to buy PAX Gold, head over to the market or buy section of the cryptocurrency trading platform and buy some PAXG.

If the crypto exchange doesn’t have any PAX Gold on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has PAX Gold first), and trade your Ethereum for PAX Gold.

Where to Buy PAX Gold (PAXG)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell PAX Gold

1. Sign into the cryptocurrency exchange where you bought PAX Gold.
2. Move your PAX Gold to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
3. Sell PAX Gold.

 

How to Buy PAX Gold (PAXG) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy PAX Gold in Australia, the process remains the same:

1. Find a cryptocurrency exchange below.
2. Sign up for an account.
3. Fund your account with AUD.
4. Buy PAX Gold if it’s available. If the exchange doesn’t have PAX Gold. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has PAX Gold), and trade your ETH for PAX Gold.

Alternatively, if you want to know more about the exchanges we recommend, look at our comparison of the best bitcoin exchanges in Australia.

How to Buy PAX Gold (PAXG) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy PAX Gold in Canada, the process remains the same:

1. Find a cryptocurrency exchange below.
2. Sign up for an account.
3. Fund your account with CAD.
4. Buy PAX Gold if it’s available. If the exchange doesn’t have PAX Gold. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has PAX Gold), and trade your ETH for PAX Gold.

Alternatively, if you want to know more about the exchanges we recommend, look at our comparison of the best bitcoin trading platforms in Canada.

How to Buy PAX Gold (PAXG) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy PAX Gold in the UK, the process remains the same:

1. Find a cryptocurrency trading platform below.
2. Sign up for an account.
3. Fund your account with GBP.
4. Buy PAX Gold if it’s available. If the exchange doesn’t have PAX Gold. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has PAX Gold), and trade your ETH for PAX Gold.

If you’d like to know more about the exchanges we recommend, look at our list of the cheapest crypto exchanges in the UK.

Considering buying PAX Gold? PAXG Rundown

Pax Gold (PAXG), a cryptocurrency that is gold-backed, was launched in September 2019 by Paxos Standard's creators. Pax Gold (PAXG) is an ERC-20 token that operates on the Ethereum Blockchain. It can be traded on many exchanges and has been made available to traders as an easy way to invest in gold.

Pax Gold's main objective is to make gold more tradeable. Gold is difficult to divisible and is limited in terms of transport. Paxos Standard created a cryptocurrency that is 100% backed by gold. Pax Gold, according to the official Whitepaper, was created to allow investors buy unlimited amounts of gold via cryptocurrency. This effectively eliminates the minimum buy limit for the commodity.

Pax Gold is unique because it has an established commodity backing it. There are a growing number ERC-20 tokens that can be purchased. Pax Gold's main goal is to make gold investing more accessible.

According to the official whitepaper, "more than USD3.5 trillion" of all gold is available for investment purposes. However, small-time investors are not able to access large amounts of this precious metal. Pax Gold is here to help. Each PAXG token comes with a fraction of an London Good Delivery Gold bar. It is stored in Brink’s gold vaults which are approved storage companies by the London Bullion Market Association.

Pax Gold offers traders a new opportunity for investment by combining the security of blockchain-based cryptocurrency with the liquidity and name of gold. PAXG inspired other cryptocurrency developers and encouraged them to create gold-backed tokens.

Related:

• How to Buy Pax Dollar (USDP)
• How to Buy Perlin (PERL)