PAXG

gowithflow192

Just don't hold fiat. Hold risk assets. They will outperform any returns on stablecoins. If you want to hedge, assign part of your portfolio to gold (PAXG). I don't have the appetite for holding stablecoins anymore.

gowithflow192

Really should take profit on my ETH, at least 1% but what to sell it for? I kinda don't want US dollars anymore lol. Gold (PAXG)?

blaziken8x

I like PAXG for when BTC is unstable; and fear and greed index is at 80. But also, if you look how much gold has gone up in last couple of years, it's absurd. I don't mind holding some on the side to buy the dips.

mnkbstard

PAXG is a ERC-20 token: any signing device that can sign EVM transaction. if an hardware wallet supports Ethereum, you can spend PAXG

gandzalas

I would stuck to physical or gold backed crypto. PAXG and some others are good, tether has one too.

gandzalas

Good picks, i have all three in my bags... I do have 60% in bitcoin. Add some PAXG and XRP and you got my crypto bags. Then a little bit into some stocks and metals. Diversification becomes more important when you start to think about what to do with the wealth you are building.

ripple_mcgee

How about some PAXG to hedge against all that USDC?

AccomplishedView4709

I buy PAXG instead.

Street_Outside_7228

It’s 3yrs up + 1yr down = 4yr cycle you got the right idea. I wouldn’t sell 100% of it tho, just up to 80% fiat. You can use PAXG coin to buy some gold also.

DifGuyCominFromSky

Well PAXG is literally digital gold. And yes bitcoin too.

vohemiq

I think you can always make good money in any market provided you have a good trading system; you can operate both markets in MEXC (say hedging with PAXG or CHF to counter the inherent volatility risk from crypto). Most people think of trading being equal to leveraged scalping and getting swings every time, but that’s just misleading: Whenever you operate always DYOR and try to “hit the balls” instead of attempting to “360 noscope homerunning every ball”… Always trade no more than 1% of your whole portfolio (if you have $100 then never have more than $1 opened) and learn to take profits, when to short and how to hedge. Trading is like riding a motorcycle and this means most people start trading without basic understanding nor experience on how to ride a bike (namely knowing how to invest), you will fall a couple of times (blow uour account) before you can master it… But once you grasp it, you’ll know how to take high speed (high leverage) turns (swings) in rough terrains (volatile markets) and turn it into big profits (your destination)… Always be patient and trade your plan (regardless of whatever the market, people, reddit/social media, etc is saying); if you made your analysis right then you’ll be right and that’s it, or you can learn and see what you can improve, think: Would you drop off your bike if it was moving? Are you moving towards your destination? Do you need to ask others to move your bike once you’re riding it?

mk0aurelius

Love seeing this. This is the real flippening and it’s going to turn a lot of heads when it happens. I’ve been following the price of an Oz in btc and it’s about to drop through a big threshold. Check out PAXG/BTC on Binance or others.

MichaelAischmann

I think your econ prof is oversimplifying things. Crypto can very well be backed by something like in the case of stablecoins (USDC & others) or tokenized RWA (PAXG & others). Unlike their traditional counterparts, they can be used in programs. Don't condescend your prof but maybe test their knowledge of crypto on a very basic level. Just see if they actually put research into the topic. If that's not the case, politely suggest they do before lecturing others on the topic.

fajarsis02

BTC: Never, only when need arise.. ETH: 6K (and then rotate to PAXG)

x0wl

Look, I agree with you. However, outside of the US (and Switzerland/Eurozone/Scandinavia), the general understanding is that USD is the correct way to store value (also EUR, but there are stables mirroring them too). Like, when a corrupt official is busted in Russia, they're busted with [stacks of USD/EUR, gold and real estate](https://ru.wikipedia.org/wiki/%D0%97%D0%B0%D1%85%D0%B0%D1%80%D1%87%D0%B5%D0%BD%D0%BA%D0%BE,_%D0%94%D0%BC%D0%B8%D1%82%D1%80%D0%B8%D0%B9_%D0%92%D0%B8%D0%BA%D1%82%D0%BE%D1%80%D0%BE%D0%B2%D0%B8%D1%87), not rubles (because they see USD as the best way to discretely store value). While OP is in Brasil, I don't think their situation is THAT different. They want to make a profit in Reals after all. If OP wants a portfolio of stables, they can just do 40% USDC, 40% EURC, 20% PAXG, all on ETH, and then HODL.

fajarsis02

Buy Gold backed stablecoin (PAXG) as it's redeemable to physical gold.

MichaelAischmann

RWA are things like XAUT or PAXG or tokenized stocks. It's nice to be able to trade them around the clock. Equity tokens typically don't have voting rights.

that-one-meme-guy-69

Im realizing tonight the Canadian Securities Administration has fucked me already lmao, binance pulled out of Canada due to there restrictions and for some reason Canadians also can’t buy PAXG… just makes me understand the need to get it off market faster

Independent_Ad_7082

This is why you should have stuck to just buying Bitcoin and PAXG (tokenized gold) instead of playing in the shitcoin casino. Have fun with the tax loss harvest. On the bright side, this dude's post might indicate that we're getting close to the bottom. The tourists are exiting. 🙃

wierdjokes

Same mechanisms central banks with pegged currencies use. The two easiest options. 1. You commit to swapping your token to the peg and vice versa any time. 2. You engage in open market activities, buy your token when it dips below your peg, and sell when it's above. This requires significant liquidity. Tether and most stablecoins (also PAXG) maintain their peg using 1. Things could get ugly if you mint more than your reserves though. Like all pegs, there's no guarantee it holds. Currencies backed by states lose their peg often, so you and your $1000 have absolutely no chance if there's any real downward momentum.

R3dFiveStandingBye

PAXG is easier to transfer too

isaacnewton34

Anyone else holding PAXG. ?

wildwych

A lot of people will say you can stay safe by investing in Bitcoin or Ethereum, but at certain times their value falls too and can take a long time to catch up. When crypto was an unpredictable mess and I was losing money fast earlier this year, I moved my funds into PAX Gold (PAXG). It's linked to the price of gold and investments are backed by the equivalent amount of pure gold. I've checked this out and found that past gains and falls have correlated to bullion prices. Last year the value rose 37%. Of course, previous years don't guarantee the future, but as gold remains the choice of many investors in times of crisis, I'd be surprised to see this coin fall. As always with investments, DYOR (do your own research). While it's tempting to get drawn in by coins making a 50% rise or more in a day, they also quite often take a loss next day. My best advice is to start by keeping written accounts of what you would buy and how much, and then keeping a note of the price each day. If/when you think you would sell, record that and keep note of the price a little longer. That will teach you a lot very quickly. Good luck!

TheSpotBot

Have you looked at PAXG? convert crypto to gold easy af

gowithflow192

Easier to swap in and out of PAXG.

gowithflow192

No way crypto acts like gold. Surely now is the time to convert everything to PAXG? Thinking about it....

LoveSexDraems

Maybe PAXG (Pax Good) but physical gold no way - it just went up like 30% in 6 weeks a few weeks back. Those are unheard of returns on any precious metal

Beginning_Service387

I have more faith in PAXG - it's regulated and backed 1:1 with physical gold in safe deposits.

DreamingTooLong

PAXG & XAUT are Gold Stables Might have more fun with those than USD stables

SimpleMoonFarmer

PAXG/WBTC liquidity pair.

Long-Ad7490

I do that. Don’t own any kind of stable coin. I convert every profit from crypto into BTC and PAXG. I don’t care of any earning from fiat.

namkeen_lassi

Unless you buy PAXG

ShivaDestroyerofLies

The correct answer is PAXG (literally tokenized gold) 😝. Although more likely you are interested in something like Bitcoin (considered a store of value because everybody agrees it is. Hard to use for any real purpose but gains value over time thus far). Personally, I would recommend looking into avax and once you have at minimum 25avax (about $450 currently) you can do single side staking for 6% APR (6% in token not USD value). Realistically, doubling in price from the current value is pretty likely as it routinely traded in the roughly $30 area pre-tariff crash and there is a bull run which sees 2022 alt season type price then it could be as much as a 10x. Pretty exciting stuff happening as well. California is using avalanche chain for their [car title mobile app](https://www.reuters.com/technology/california-dmv-puts-42-million-car-titles-blockchain-fight-fraud-2024-07-30/), a city in India has started using it for [land titles](https://timesofindia.indiatimes.com/city/raipur/dantewada-district-digitized-over-7-lakh-land-records-through-blockchain-technology/amp_articleshow/118943597.cms), one of the largest banks in Japan is using Avalanche chain for an upcoming [stablecoin offering](https://asia.nikkei.com/Spotlight/Cryptocurrencies/Japan-s-SMFG-to-develop-stablecoin-with-U.S.-blockchain-firms), a “[debit card](https://www.avax.network/blog/avalanche-card-launches-broadening-everyday-crypto-use)” that can be used to spend avax or stable coins on the avalanche chain (primarily intended for markets with poor financial infrastructure like developing nations), CEO is on the [CFTC Tech advisory committee](https://www.cftc.gov/About/AdvisoryCommittees/TAC), etc. All of which I believe demonstrates strong potential. End of the day though you gotta do your own research. Nobody has a crystal ball and many will exploit your inexperience. Learn to investigate and make decisions that you believe in.

Madcey

Yes i understand, just want to be more in a safe spot without all this memecoin stuff. There is also PAXG but it’s literally gold coin so no point in it

ronchon

Indeed. But i meant as an easy "safe haven" to edge against the currently weakening USD. Right now if you're on the sideline with a lot of USDC, it might be worth swapping some for EURC or PAXG.

danarm

Buy PAXG, a highly regulated coin pegged to gold!

Bonfires_Down

With how alts have been going I’m not sure I want to invest in any of them. So I’ll go PAXG and two stablecoins right now.

datag_x22

Could you please elaborate on that? Which DEXes for L2s or Polygon allow swapping to PAXG/XAUt? Last time I checked those two weren't listed as target currency.

ThinNeighborhood2276

You might want to check out Arbitrum or Polygon for lower fees. Both have growing liquidity and support for various tokens, including PAXG and XAUt. You can also look into using bridges to move assets between Ethereum and these L2s.

Familiar_Television1

I thought that was the same. You can exchange 1 PAXG for I don’t know how much gold just as you could exchange the dollar for don’t know how much gold back in the golden days of our ancestors.

blaziken8x

Just wanted to make it extra clear (I made an edit to my post). It is called "Paxos Gold" (PAXG) There is also a gold backed crypto issued by the people who have USDT that is called "Tether Gold" (XAUT)

blaziken8x

Yeah, you can use it in fractions same as any other crypto. But the main purpose of it is, that it's supposed to be backed by real gold, so it's worth as much as gold. I felt confident enough in the company behind it to purchase a decent amount of PAXG. (they're supposed to be regulated in new york, they also issue the paypals USD stablecoin and some others)

blaziken8x

Converted crypto into PAXG last year, buying back btc and eth now every-time when btc takes a dump

Familiar_Television1

That cryptocurrency exists. It’s called PAXG. It hasn’t overthrown anything.

DreamingTooLong

PAXG (pegged to gold)

TewMuch

I had PAXG on BlockFi. Ask me how that turned out. If you want gold, go to the coin shop and buy some or, better yet, get it on Costco.com for under spot after credit card and membership cash back. Check out r/CostcoPM

1maginaryExplorer

Thanks for the info. Probably won't touch XAUT due to it being tether. But PAXG sounds promising. Do you know where there gold vaults are located?

HonestPineapple4848

You can invest in XAUT or PAXG, both backed by gold.

blaziken8x

If you want gold backed crypto you have Paxos Gold (PAXG) or Tether Gold (XAUt)

DreamingTooLong

PAXG better

No-Magician-2257

You can buy altcoin PAXG if you want to diversify into gold. Just don’t expect it to moon.

PirateSKB

Why not Pax Gold or some associated with real world assets as a hedge if you aren't comfortable with regular alts? https://www.coingecko.com/en/coins/pax-gold - Take PAXG for example, it's tied to gold and it's sitting near all-time highs

buckminster_fuller

I was waiting for new short opportunites today but it seems I got frontrunned this time. Have no plays today besides long $BGB and $PAXG. People think im nuts for liking them and they continue to be the only ones holding strenght.

spooky_corners

I keep a bit of PAXG on the exchange, just kind of a float in an otherwise allocated portfolio. Pretty consistently, Gold price is up whenever there's a Bitcoin dip, and therefore the Gold/BTC ratio is better than the USD/BTC ratio. Conversely, I tend to sell BTC into Gold at local tops or when the market starts to dive as a stop loss. Trading back and forth between these commodities generates no taxable events. Just passing it along for whoever might find it useful.

nishaddesilva

Right now, maybe PAXG. For long term everyone says BTC.

buckminster_fuller

$BTC and $PAXG are the only plays long term, ive lately seen the community start to shift to the first instead of the typical big alts. Price history matters, often more than projects technology.

Chucklum

I'd put it on NEXO(platform), with a deposit of over 100k you get a personal manager and benefits that aren't listed. With 10% allocation into NEXO(coin) to be a platinum member 60% into BTC and the rest into coins I like, like TRX, XRP, or PAXG(coin tied to gold). If you plan on holding there are *fixed* terms that you can use and block your coins for X amount of time for X amount of extra interest on the crypto depending on which one. BTC generates 5% for example and XRP more like 12% on a fixed rate. But 4% BTC and like 5% XRP on flexible rate ( liquid). If I had done what I did with 100K around 1 year ago I'd be sitting on over 200K with serious interest being generated.

Radical_Neutral_76

Yeh PAXG

sid741445

Thanks for insights. What about PAXG, that's based on the real gold and its value will only rise in future?

No-City94

Where should I keep my fund between cycle ? I plan to DCA out when I think BTC hit the peak of this cycle. Not to cash out. but to wait to re-entry via DCA in again when it's low enough. ( I know , don't time the market. But I want to try. I want to increase my BTC.) I still don't know how to keep my fund while waiting ? USDT ? USDC ? DAI ? PAXG ? I really don't know and have some concern about all these stable coins.

yioshie

I'm also in Italy, there are some options: 1. Don't sell, just use your crypto as collateral for liquidity, Nexo is a great platform for that. 2. You exchange your BTC for DAI or PAXG, both are not stable coins and thus they aren't a cash out event so it's not taxable. 3. Just hodl until you decide to move out. I personally will do the 3rd until I move to Switzerland.

Ordinary-Broccoli-41

Lmao my entire portfolio is in a PAXG/BTC gridbot so I've been selling gold to buy Bitcoin all week 🤣

nishaddesilva

The only "Crypto" savings are stablecoins such as PAXG, USDY etc. which grow in value.

TertlFace

[*laughs in PAXG*]

iso20022_

If you go with PAXG you could expose yourself to gold. Otherwise probably only the classic big retail brokers. For example interactive brokers - IB. But there's no USDT trading. Just normal USD. They will have btc and gold though 

Y0l0BallsDeep

PAXG is a better investment.

LinsaFTW

What are the best DEFI platforms for someone that wants to invest PAXG and on Liquidity pools? I currently know of Uniswap and Pancake swap but some pools seem not very profitable.

DreamingTooLong

Bitcoin needs a trading pair with silver similar to PAXG People can use that trading pair price for trading physical silver coins with digital bitcoin. Pawn shops would jump on board….

Low_Candidate8352

I agree...anyone who actually worked or traded Equities or any Financial Securities would be surprised the Crypto market did not burp, fart, react to Trump Winning the Debate...which implies, nothing is baked into the Price Movements of Crypto. Only PAXG ...can see the spike when there is fear of Global Conflict...or Price of Oil. DISLOCATION....must be puppet Master ...owners of Crypto Exchanges in Collusion with Top 10 Crypto by asset. Anyone notice how ALL the graphics & churn of stories from all these Crypto websites are in the same vein, and often contradictory ? 3rd rate articles written by 3rd rate paid for 'Journos' in poor nations making, am guessing $800 max per month to crank out the doodoo. Anyway... you're on to something...even though I hate Gary Gensler - he's right the Crypto sector & Crypto Reporting Media need to be reigned in & regulated.

ripple_mcgee

What do you trust more: PAXG or XAUT? (Paxos or Tether)

pixelmango3

PAXG is the OG RWA, I will put it in the list too

Steve_at_Reddit

Mostly true. I use tokenised gold (PAXG) and some other cryptos for everyday purchases using a crypto-backed Visa debit card.

fabzo100

even the USD itself keeps dropping against overall living cost. If you want a pegged token, i would consider PAXG since it's pegged to gold, and gold has been doing well the past year (and far more stable than BTC).

SimpleMoonFarmer

why not PAXG?

na3than

PAXG is not gold.

EggIll7227

It already exists lol : $PAXG on Ethereum

Nice-Range-7653

Isn’t that literally PAXG or any other Gold backed stable coin?

Tlux0

Bro doesn’t know PAXG exists

jimmycryptso

PAXG

John_Crypto_Rambo

I honestly wish we would all use PAXG instead of dollar based stablecoins.  Why would you want to use this as basis for anything? https://fred.stlouisfed.org/series/BOGMBASE And the government wouldn’t get its panties in such a wad if crypto didn’t have dollar as the base everywhere.

crypto_grandma

I almost bought some PAXG back in 2020. I liked the concept but in the end just bought more Bitcoin, which worked out well

JamieLannistorr

Look into Paxos, the stablecoin operator who uses Chainlink proof of reserve for its gold-backed stablecoin PAXG, and USDP, its U.S. dollar-pegged stablecoin.

Precedens

PAXG (gold peg) just went ballistic to 3200usd (market price of ounce is 2350 right now)

arrand4le

it's called PAXG

HippoDance

Yup. I'm looking at a 5 way split for safety - USDT + USDC + DAI + PAXG + Fiat

MacGuffin-X

Is PAXG better than USDT or USDC or any other stablecoins?

ChadBangs

Convert to PAXG over time. Now you hold a direct physical gold equivalent.

ShaneTuscarora

if you prefer gold - $PAXG

Guru_Salami

PAXG, most stable unstable coin

Guru_Salami

You sell 5% for 10k btc goes up or something? i.e sell 5% @ 55k, 65k, 75k... Do you think selling for PAXG is better option than stable coin as gold is expected to have steady little pumps ⛽ even when crypto and economy is having rough time

DigStock

I went for PAXG since it can be traded directly on kraken.

noviwu97

PAXG is legit

ChadBangs

I think this is absolutely true over time—I think BTC holders may have an incredible opportunity to hedge volatility by parting into something like PAXG towards the late middle of cycles—always within reason of course.

Cravensworth_3dux

Yeah PAXG isn't available on Coinbase. So using their on chain wallet, Coinbase Wallet is the only way. Hence the high cost of swaps. Basically, Binance was your best choice to do what you needed. 👍

wayfarer8888

All on PAXG.

slvbtc

Gold backed crypto already exists. PAXG is a gold backed token issued by a US trust company called paxos. Heres the thing through, if I wanted to pay someone in Indonesia they cant do anything with a PAXG token but if they recieve bitcoin they can easily find a way to turn that into their local currency. They also would likely not trust the PAXG token due to it being issued outside of their country but bitcoin is globally recognised. This showcases how bitcoin is global while gold backed tokens will be national and restricted to use within borders.

_Stealthy

I'd like some PAXG on Cardano

sandworm87

PAX Gold (PAXG) has been around since 2019. It's an ERC20 on Ethereum so tradeable on Uniswap, as well as Binance, Kraken and other CEXs. They have monthly reserve reports issued by an independent third-party accounting firm https://paxos.com/paxg-transparency/ https://www.coingecko.com/en/coins/pax-gold Tether also have a gold-backed token called Tether Gold XAUT, but I'm less familiar with that: https://gold.tether.to/

Devildiver21

Yeah they can sieze your funds if they are in a hot wallet. PAXG in cold storage the best of both worlds. You own your keys but not the hassle of storing gold.

Ordinary-Broccoli-41

If you're using small amounts anyway, why not buy WBTC on BSC or Polygon? Can store in USDC or PAXG until you're ready to buy.