A Step-by-Step-Guide on how to buy Paxos Standard (PAX)
Step 1 – Join Kraken You'll first need to purchase units of the major coins. Exchanges normally accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click the button below to register and to get Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Paxos Standard (PAX) is obtainable on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this guide) Make sure you've selected the correct coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etcetera. If you're dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow these easy steps).
Step 3 – Find Paxos Standard (PAX) Once your deposit has been affirmed, you'll directly have access to your funds and you can commence buying and trading. To buy Paxos Standard (PAX) on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. To find Paxos Standard (PAX), you'll need to put the shortname of the coin (PAX) into the search-box, which is highlighted in the image. Be certain of having choosen the right pairing, we have highlighted this too. Click on “PAX/BTC” to go ahead.
Step 4 – Purchasing Paxos Standard (PAX) Once you've discovered Paxos Standard (PAX), you'll be presented with a Price Chart (in the Center of the image) and a few Order Books (Leftside of the image). For now we're going to make our own Limit Order. The field with the “Price” tag will be filled with the most recent price Paxos Standard (PAX) was sold for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of PAX you wish to buy. The field with the “Total” tag is the whole price in BTC that you'll settle for the whole volumen of PAX. When you're satisfied, click on “Buy PAX”. Your order will be filled when a Vender sells their PAX for the price you offered.
Step 5 – Withdraw Paxos Standard (PAX) Unless you are regularly trading, best advise is not to keep coins on an Exchange for an extensive period of time. In order to withdraw your Paxos Standard (PAX), hover over the tab called “Funds” and click on “Withdraw”. Paxos Standard (PAX) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Paxos Standard (PAX) by using the given drop-down box. Put into the volumen of Paxos Standard (PAX) you would wish to take off. Take into account the displayed fees/minimums. Also make sure you have entered your precise withdraw address. If you're happy, click on “Submit”. You could be requested for verfication via phone/email before a withdrawal.