How to Buy Paxos Gold? (PAXG)
Looking to invest in an asset that provides the efficiency and transparency of cryptocurrency while offering exposure to the price of gold?
If so, you may be interested in buying PAXG, a crypto asset backed by real gold reserves held by Paxos, a for-profit company based in New York.
Each PAXG token is redeemable for 1 troy fine ounce of gold custodied in vaults by Paxos and its partners, and its market value is meant to mirror the physical gold it represents.
For more details on how PAXG works and the company that created it, read our ‘What is Paxos Gold?’ guide, which offers a more extensive breakdown.
Ready to dive in?
If you just want to start investing in PAXG right away, click the button below to begin.
Why buy PAXG?
Investors may be drawn to the idea they can hold value in an asset whose long-term value they believe in, while enjoying the properties of cryptographic money, including easy online exchange, portability and exchangeability.
You may also want to consider buying PAXG if you want to:
- Buy a cryptocurrency tied to a proven real-world asset
- Easily invest in fractions of gold
- Make gold exposure part of your long-term trading strategy
- Protect yourself against the decline of paper investments (stocks, bonds, cash)
- Quickly and efficiently transfer gold across markets.
Where can I buy PAXG?
There are a number of ways to buy PAXG. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken.
Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your PAXG, it can be challenging if not impossible to recover your funds.
At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.
How much PAXG can I buy?
Looking to buy PAXG on a budget? Don’t worry, Kraken offers a minimum order size of 0.005 PAXG to help you gain exposure to a variety of assets.
Of course, you can also execute larger PAXG buy orders as well. It wouldn’t be out of the ordinary for larger traders to purchase or trade 1,000 PAXG or more on Kraken.
How to buy PAXG on Kraken
Follow the steps below to start buying PAXG on Kraken:
Sign up for a Kraken account.
First, enter a valid email address, create a new username and set a strong password to protect your account.
Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy PAXG with cryptocurrencies like BTC or XMR. In order to use fiat currency (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
Deposit fiat currency.
You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
Once your account is funded with fiat, you’re ready to purchase PAXG. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize margin trading, features that help make the Kraken experience beloved by millions of global traders.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying PAXG, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your PAXG
Once you buy PAXG, you’ll need somewhere to safely store your cryptocurrency.
Kraken is secure, but it’s always safest to store your PAXG in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.
There are many types of PAXG wallets available. Mobile and web wallets make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage.
When choosing a wallet for your PAXG, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
Kraken is not a wallet service
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold PAXG in their accounts, we highly encourage you to separate your PAXG holdings into multiple wallets.