Pax Gold (PAXG) is a commodity-backed, gold stablecoin issued by Paxos. Each token is backed by ONE fine ounce of gold kept in Brinks’ vaults managed by Paxos. Pax Gold allows for exposure to Gold markets without using an ETF, future’s contract, or other derivative product. Pax Gold was initially issued in September 2019 and has seen significant growth in the market capitalization and volume as gold prices have fluctuated significantly in 2020. On November 5, 2020, Paxos Chief Executive Officer and co-founder, Charles Cascarilla, participated in a webinar hosted by the London Bullion Market Association of Digital Gold and stated once stated, “In a digital and global financial system, owning physical gold is cumbersome, outdated investment; it’s not easy to trade, divide, move or leverage against other Investments.” This speech is indicative of the future that Cascarilla sees for Pax.
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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