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 – Transmit Your Funds to an Crypto Trader Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. All exchanges have a deposit form that is alike. Paxos Standard (PAX) is accessible on Binance, so we're going to use that as an example. Unsure on how to send Coinbase funds to an Crypto Exchange? (Follow this how-to) Make sure you have chosen the exact coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so on. If you are working with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow these easy steps).
Step 3 – Locate Paxos Standard (PAX) Once your deposit has been approved, you'll directly have access to your assets and you can begin buying and trading. To buy Paxos Standard (PAX) on Binance, you'll want to hover over the ”Exchange” tab and then click on “Basic”. To spot Paxos Standard (PAX), you will need to insert the short name of the asset (PAX) into the search-box, which is marked in the picture. Be certain of having choosen the right grouping, we have marked this too. Click on “PAX/BTC” to go ahead.
Step 4 – Purchase Paxos Standard (PAX) After you've spotted Paxos Standard (PAX), you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). And 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. This can be changed to your desired price. The ”Amount” field is the volumen of PAX you wish to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the whole quantity of PAX. When you are glad, make a mouse click on “Buy PAX”. Your order will be filled as soon as a Vender sells their PAX for the price you gave.
Step 5 – Withdraw Paxos Standard (PAX) Unless you're regularly trading, never keep your crypto coins on an Exchange for an longer time frame. To take off your Paxos Standard (PAX), hover over the tab called “Funds” and click on “Withdraw”. Paxos Standard (PAX) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Paxos Standard (PAX) by using the given drop-down box. Drop in the amount of Paxos Standard (PAX) you'd wish to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your correct withdraw address. If you're glad, click on “Submit”. You may be requested for verfication via phone/email before a take off.
Kudos! You've successfully purchased and stored Paxos Standard (PAX).That's it! Withdrawals from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (depending on network usage). As soon as you've confirmed your withdrawal using Etherscan.io or Ethplorer.io and the (PAX) Paxos Standard is safe inside your wallet, you're finished.
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