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 Crypto Trader Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Paxos Standard (PAX) is accessible on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Follow this how-to) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our guide).
Step 3 – Locate Paxos Standard (PAX) Once your deposit has been affirmed, you'll now have access to your funds and you can initiate buying and trading. To invest in Paxos Standard (PAX) on Binance, you will want to go to the ”Exchange” tab and after that click on “Basic”. To discover Paxos Standard (PAX), you'll need to insert the cointype (PAX) into the search-box, which is marked in the picture. Make sure you have selected the proper pairing, we have highlighted this too. Click on “PAX/BTC” to go on.
Step 4 – Purchase Paxos Standard (PAX) Once you have discovered Paxos Standard (PAX), you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're going to create our own Limit Order. The field with the “Price” tag will be filled with the most latest price Paxos Standard (PAX) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the volumen of PAX you want to purchase. The field with the “Total” tag is the total price in Bitcoin that you'll settle for the whole volumen of PAX. When you are happy, click on “Buy PAX”. Your order will be filled as soon as a Seller trades their PAX for the price you submitted.
Step 5 – Withdraw Paxos Standard (PAX) Unless you're regularly trading, never keep your crypto on an Crypto Exchange for an extensive time period. In order to take off your Paxos Standard (PAX), go to the tab called “Funds” and click on “Withdraw”. Paxos Standard (PAX) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Paxos Standard (PAX) by using the given drop-down box. Drop in the amount of Paxos Standard (PAX) you would wish to take off. Don't forget the presented minimus/fees. Also make sure you have entered your precise withdraw address. If you are satisfied, make a mouse click on “Submit”. You may be asked for verfication via phone/email before a withdrawal.