How to Sell Paxos Gold (PAXG)
As a crypto trader or investor, there may be times when you’ll need to sell PAXG.
A crypto asset unlike most others, PAXG mirrors the value of the 1 troy fine ounce of gold but runs on a blockchain, meaning it provides the functionality of gold without the delays and fees that can be common when selling real gold with bullion dealers or pawn shops.
This means that by buying and selling PAXG at the right time, you may be able to gain exposure to the upward movements of gold more quickly.
Kraken’s global order book can offer you the ability to sell PAXG for a variety of more traditional currencies, meaning it can be an alternative for timely FX trading as well.
For more information on how you can sell PAXG if and when an opportunity presents itself, follow the steps outlined below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some PAXG!
New to crypto?
For more details on how PAXG derives its value, read our official “What is Paxos Gold?” guide.
Why sell PAXG?
Given the unique attributes of PAXG, you may find buying and selling it becomes a powerful tool in your trading arsenal.
For example, you may want to sell PAXG if you want to:
- Make changes or adjust your long-term crypto strategy
- Capture gains in times of sudden price movements of gold
- Increase your portfolio’s exposure to more volatile crypto assets
- Trade it for other cryptocurrencies.
How to sell PAXG on Kraken
If you’re ready to go ahead and sell PAXG, follow these simple steps below:
Sign up for a Kraken account.
You just need an email address, username and a strong password.
Verify your account.
All you need is your name, birth date, country of residence and a phone number.
Send PAXG to your Kraken Address
If you want to sell PAXG for another cryptocurrency (like XMR or XLM), first you’ll need to create a deposit address in your Kraken account. Depositing PAXG on Kraken is as easy as transferring it to any cryptocurrency address.
If instead you want to sell PAXG for a fiat currency (like GBP or EUR), you’ll need to send us identification and proof-of-residence documents. Learn more about our different verification levels here.
Once your account has received funding, you can begin selling PAXG and other cryptocurrencies on Kraken.
Start selling PAXG
Not sure if you want to sell PAXG? It’s OK to change your mind. If you have more technical questions, you can also reach us on LiveChat or by email 24/7/365.