PAX Gold is a crypto asset backed by an underlying one troy ounce (t oz) of a 400 oz gold bar, stored in Brink’s Vault’s in London. PAXG provides a very different value proposition, in that you own the underlying physical gold, held in custody by Paxos Trusts.
There are many use cases for PAX Gold, the most obvious being the ability to hold a digital version of Gold, without having to physically store and hold the physical goods. Another, is the ability to use the intrinsic value offered by the commodity exposure, to further leverage against other digital assets. PAXG provides both investors and traders a unique value proposition, a new age utility to a legacy asset.
The best place to buy PAX Gold is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell PAX Gold (PAXG). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of PAXG is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy PAX Gold with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy PAXG instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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This should not be used to make investment decisions.
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Fantastic Platform Easy for beginners to buy, sell, swap and create recurring orders. Swyftx rewards also makes it an enjoyable platform to use.
Swyftx is easy to use, has fast deposits and withdrawals. Their Help responses are always quick and helpful and you also get to live chat with a real ...
I have used a number of exchanges over the past few years and Binance was always my go to, but when they started getting restricted in Australia I nee...
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The customer service is great! It doesn't take long to withdraw from your account within one day my funds are in my bank account which is great.