How to buy PAX Gold (PAXG) in the UK

PAX Gold (PAXG) is the 87th largest cryptocurrency by market cap, valued at US$512,953,173.

PAX Gold is a highly volatile asset capable of major price swings in a single day. Today PAXG is trading for $1948.35 USD, which is higher than yesterday's trading price of $1,945.45 USD. Over the past year, PAX Gold's price has seen an increase of 5%.

So before you buy PAX Gold, make sure you understand these unique risks as well as its legal and tax status here in the UK.

If you're ready to get started, read on for step-by-step instructions on how you can buy PAX Gold.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Where to buy PAX Gold in the UK

Find an exchange to buy, sell and trade PAXG by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Best PAX Gold wallets to store your PAXG

You can keep your PAXG on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your PAXG below.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is PAX Gold a good investment?

Stablecoins, by design, are intended to be less volatile than ordinary cryptocurrencies. However, there are several aspects that should still be considered before investing. Some factors to consider before buying PAXG include:

• Ease of storage: Unlike physical gold that can be difficult to store, especially when dealing with large quantities, PAXG can be stored easily within any Ethereum-compatible wallet.
• Exposure to gold: As a gold-backed stablecoin the price of the token will mirror the price of gold exactly.
• Superior to conventional offerings: When compared with regular trading products, PAXG tokens allow users instant exposure to the gold market. Users can redeem assets at any time for physical gold and own minute fractions of metal, something that was not possible before. PAXG also does not feature any holding fees as costs are levied by most centralised institutions.
• Transparency: Unlike physical gold, where storage and accountability can sometimes be an issue, all PAXG tokens have their transfer, creation and redemption histories publicly available on the Ethereum network.
• Flexible supply: All of the gold used to back PAXG tokens is maintained by Paxos in a secure reserve facility. Anytime physical gold is redeemed, a corresponding number of PAXG tokens are burned accordingly.
• Centralised: Maintenance of the PAXG token rests solely in the hands of Paxos. If the system malfunctions or an audit finds that there is not enough physical gold to cover tokens, it may cause volatility in prices.

Today's PAX Gold price versus ATH

Compare today's price of PAX Gold ($1948.35 USD) against its all-time-high price of $2241.37 USD on 17 May 2021. The closer the bar is to 100%, the closer PAXG is to reaching its ATH again.

How to trade, convert or sell PAX Gold

You can convert or sell your PAXG with the same exchange you bought it through:

1. Sign in to the exchange you have PAXG on.
2. If you store your PAX Gold in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of PAXG you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of PAX Gold.
6. Complete your transaction and move your PAXG to a wallet for storage.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.