PAXG

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.

AshleyStopperKnot

Been thinking about buying PAXG for like two years now, they seem to be trustworthy enough.

Strawberry_666

Depending on the country you're in, there are several amazing cash out options you can use. 1. ETH to stable coins ( USDC, DAI, PAXG and KAU ) 2. ETH to crypto debit cards ( I don't want to shill any names here. Just google a few ) 3. ETH to your bank account ( same as point 2, but be careful. Banks are boomers who will sodomize you with "AML" questions just because you use crypto. You have been warned ) 4. ETH to gift cards to real products and services 5. ETH to car ( you can buy a car and sell it for cash immediately ) Congrats on finding your wallet! Just watch out for DM's. Lots of parasites, rats and cockroaches will try to message you to "help" you get rid of your ETH as fast as possible. Good luck bro! Enjoy your gains!

Somebody__Online

lol they are not new tokens. PAXG has been at peg with gold on uniswap since September 2020

AlethiaArete

When I looked into it a while ago PAXG was the only one worthwhile. DAU wasn't around at the time. There's really no need to. It's basically a custody setup just like plenty of companies do already, and they're going to charge for the custody of gold to make the token also. It has the same risks, and so forth. A lot of the crypto companies in the gold space probably aren't going to have the mindset or the security to do gold custody correctly, and a lot of the people in the crypto space aren't going to understand what's necessary for gold custody leading to most of the gold tokens being unsatisfactory in some sense. The last thing is that with gold you can hedge against both issues in the crypto space whether it's poor regulation by whatever government you live under, your own mistakes with self custody, corrupt or incompetent companies, and forever inflation of fiat currencies. There's an important difference between crypto and gold. Crypto is more correlated with technology. Gold is the ultimate safe haven play. As much as I get why people call BTC "digital gold", the fact that it acts like technology means it isn't, at least not yet. That means crypto is for gains and gold to protect what you have. Because of that using gold tokens on a blockchain doesn't make sense. You're exposing yourself to fees, counterparty risk issues, all the issues with self custody, and then on top of that "not your keys, not your crypto" has an equivalent in the precious metals space: "If you can't hold it, you don't own it." What all that means to me is I'm just not interested. Gold on the blockchain might be nice to transact in, but there's still the element of trust which is why crypto like BTC and XRP which does not have the same trust elements attached to it will always be better than a pegged token, whether it's a stablecoin or a gold token.

borkalifya

No crystal ball here, but I'm intrigued by the possibilities for DAU, XAUT, and PAXG. Let's see where the journey takes them.

SecretUncle69

I mean Paxos is a Financial Institution, so are banks, don’t know how it’s much different when they accomplish the same thing. Paxos is also secure as hell down to the fine text, fully cash backed for $USDP and fully physical gold backed for PAXG.

jaimewarlock

I guess that is why he included "first bank". PAXG was the first tokenized gold though. The real question is which is more secure.

Goldbaerig

Actually you already can redeem PAXG for physical gold.

Goldbaerig

Do you think gold backed stablecoins like PAXG are superior to fiat backed ones, because of golds role as inflation hedge?

wayfarer8888

Next time Bitcoin collapses 70% in a year the perspective will be different. Both have their place. If gold ever goes back to $1600 I would buy GLD ETF. PAXG is a nice gold-backed stable coin to park profits.

Bandit_Quick

Know about it, but Gold is in IRA via a broker. Have Google in there too....PAXG would be good otherwise!

HansTilburg

PAXG, then you have both, google and crypto

wayfarer8888

tl;dr ZiG - Zimbabwean Investment Gold Not well-received at all due to total lack of trust in the Zimbabwean reserve. Good 🤞 luck with the idea. Couldn't even find which network they're on. I'd stick with PAXG and their audited reserves, or some of the other smaller Gold coins held in Western nations (like Australian vaults).

wayfarer8888

Question: is USDC any better? Do you think one of the basket coins like DAI, MIM or FRAX are safer alternatives? I personally like PAXG which is backed by real audited gold reserves, but it's only on Ethereum L1 (maybe Arbitrum One, but I couldn't verify the contract and liquidity is probably an issue).

photog623

PAXG or XAUT. Less hassle and less fees.

IanfinityXD

Paxos says that you need a minimum of like, 445 PAXG to redeem it for physical gold 😮

DigitalDude_42

I did get some PAXG. Seems a little riskier since then I'm also betting that ETH will be around, but then ETH is fairly popular. Even if times change to something new hopefully I could bridge it or cash out.

IanfinityXD

Assuming you are planning to buy gold, in which of these forms would you rather buy it as? > Physical gold bars/coins > XAU on exchanges/Gold ETFs > Gold-backed stablecoins such as PAXG and XAUT

wayfarer8888

So that makes them solid? It's a collapse just waiting to happen. They sell you IOUs which could risk less make 3-5% returns in government bonds and be overcollaterized and Tether would still reap a huge profit (easily 2 billion per year). But that's not what's happening. I hope people phase out of this B.S. coin, we just got lucky so far. We also got lucky on Luna, that is until we didn't. There's a few stabiles I'd trust, honestly I like PAXG which is backed by gold and also the new PayPalUSD which is managed by Paxos as well. I am certain there's more. I usually avoid Tether and rather use DAI, MIM or FRAX for short term swaps or bridging.

rootpl

What about PAXG (Pax Gold)? It's been pretty solid over the years.

_Stealthy

Yea, PAXG is cool, should be made available on more networks as a token.

IanfinityXD

I mean, there's PAXG (and the dumpster fire that is XAUT made by Tether) for troy ounces of gold

EpicHasAIDS

Is PAXG considered a stable coin?

deckartcain

PAXG has been around long enough without serious issues, I might have to diversify my stables a bit more.

Ben_Dover1234

Me too (I am not trying to shill) but I did a post about stablecoins yesterday that talked about resource backed coins like PAXG.

poncha_michael

PAXG is an ERC-20 token. If you enter your Ethereum address on the Paxos website, it will give you the serial number of the gold bar(s) you own a fraction of. As you buy PAXG, they allocate the gold in their vaults. It's a good way to buy fractions at spot until enough is accumulated to trade for physical.

Ben_Dover1234

>Paxos' gold-backed crypto, PAXG, is backed by London Bullion Market Association-accredited (LBMA) gold bars and is redeemable for physical gold. Yeah their gold is backed by a 1:1 ratio of a troy ounce of gold.

thom_orrow

There were 25 tokens; However, after yesterday’s overhaul, the roster has been notably truncated, (with only 8 tokens). Bitcoin (BTC) and Ethereum (ETH) are the only non-pegged coins, featured in the 8 tokens, alongside Gemini Dollar (GUSD), GMO JPY (GYEN), GMO USD (ZUSD), Pax Gold (PAXG), Pax Dollar (USDP), and PayPal Dollar (PYUSD). Source: https://bitcoinist.com/xrp-dogecoin-ltc-removed-new-york-crypto-greenlist/

wayfarer8888

PAXG is an ERC-20 backed by physical gold in a vault. Paxos trust is legit, they are also behind pyUSD from PayPal. Not the only gold token.