How to buy real physical gold in the Cryptocurrency world using PAXG?

Buy real physical Gold but store where?

Many people like gold and believe that this is the real asset with value rather than the artificial fiat currencies created by various government. Gold is a commodity that dates back thousands of years as a store of value and a means of exchange even until today. However, one very big problem with gold is storage. How do you store something worth so much at home? What if fire broke out? What if a bulger enters your house and steal it? Of course, you can put in fireproof safe boxes at your home, but is it still safe? Do you feel safe? Alternatively, people put in safe deposit box with reputable companies like CISCO. This is not cheap too, it cost few hundred dollars per year, hence whatever you put in the box better worth the amount.

Where to buy?

The next question is where you can buy gold? In Singapore, most people will go to the bank UOB. This is because UOB is the only bank in Singapore that offers (1) the sale and purchase of physical gold bars, gold bullion coins (2) Gold Certificate and 3) a savings account dedicated to either gold or silver. You do not incur GST if you purchase gold through UOB as it qualifies as IPM (Investment Precious Metals). However, all these options either doesn’t come cheap if you ask the bank to hold the gold for you OR back the same problem of how to store the physical gold?

Best of both world: The Marriage of Cryptocurrency and real physical gold

What is this? So good? The answer is to buy PAXG, digital asset backed by real physical gold.

What is PAXG?

Pax Gold (PAXG) is a digital asset on the Ethereum Ecosystem. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.

If you refer the table (see below) in PAXG website, there are numerous benefits to this token. The most key advantage is PAXG is ERC-20 token, it can be easily transfer, moved around anywhere around the world within a very short time and 24/7. The next key advantage is the fee is low and it can redeem for the real gold via Paxo platform. Hence, storage and fee will no longer be an issue!

Where to buy PAXG?

How do I buy this? For those who understand and buy crypto before, you should be able to buy it easily. For those who are new to crypto, let me introduce a good site to you – Coingecko (you can refer to this post which I have shared about this site previous). If you go to site, you can see all the places where you can trade this coin. From the table, you can buy it from major CEX or directly at DeFi site at Uniswap.

Of course, one very key important thing is not your key not your coin. Regardless of where you buy it, please send it and keep in your cold wallet such as Ledger. If you want to find out more about wallets, please read my previous post (Guide – Managing your Crypto Wallets).

What gold do I owned if I have PAXG?

For those who have already bought PAXG, you can check the details via the PAXG site. Every Pax Gold token is backed by an ounce of allocated gold. Use this tool to lookup the serial number and information about your gold. Scroll down to the middle of this page, you should be able to see this box to key in your Ethereum Address. However, do note that this is only for PAXG held on Paxos, not in custodial exchanges/wallets.

If this safe?

Paxos Gold is backed by real gold reserves held by Paxos, company in New York. Each PAXG token is linked to a 1:1 ratio to one troy ounce (t oz) of a 400-ounce London Good Delivery gold bar stored at Brinks Security vaults in London. The Paxos-backed cryptocurrency, PAXG, is backed by the London Bullion Market Association (LBMA) certified gold bars and may be redeemed for actual bullion.

Conclusion

For investor who believe in gold as a store of value or for investment, and regardless of if you are familiar with Crypto or even new to Crypto, do consider buying some gold using PAXG, especially given the turmoil macros conditions now with increasing likelihood of more wars.

Good articles that you should read!

People are drawn to dividend investing.

Why? Firstly, dividends provide a regular stream of income, allowing investors to receive a portion of the company’s profits on a periodic basis. This can be particularly attractive for individuals seeking consistent cash flow or looking to supplement their existing income. Additionally, dividend investing is often viewed as a more stable and predictable investment strategy compared to relying solely on capital appreciation.

I always write and share articles, especially on dividends which many people love them. Do read them!

• Simplified Guide to the Key Gist of Grant of Probate and Estate Planning
• Cheapest and best way to trade Singapore Stocks with CDP
• Mastering Dividend Investing: 5 Evergreen Investment Principles
• Unlock Lucrative Returns with IAPD: A High-Yield ETF Providing 7% Annual Yield and Quarterly Payouts
• Unlock Lucrative Returns with SDIV: A High-Yield ETF Providing 11% Annual Yield and Monthly Payouts
• If I am a dividend investor, this is what I would do….
• 7 Things to consider before buy a dividend stock
• 4 Dividend ETFs that can let you sleep well even in the scary bear market
• 5 Best Counters for Passive Dividend Investing
• The Three MOST Important Traits of an Investor
• What is the best investment strategy in the world?
• Ultimate Strategy of buying REITS: XXX instead of X000?
• Ultimate Free 2 Days Reit MasterClass: Exclusive at Careyourpresent.com only!

Alternatively, you can go the right side of my page, there is a search bar where you can simply search “dividend” to see all my articles related to dividends!

Of course, you can search for other things that would interest you such as “Careyourpresent”, “Reits”, “Side Hustles”, “Fixed Incomes”, “Savings” etc.

CAREYOURPRESENT

Money just buy you the chance of freedom.

When you are young and working, you exchange time for money. When you are old, you can have lots of money but you can’t buy time back, especially the things that you have missed while busying striking out in career. Of course, if you love your career, and consciously know that you are missing out the first time your child walk or talk, that’s ok, but if you are the other spectrum, please do something about it.

Your kids grew up and they no longer need you to accompany them. They no longer want to sit on your lap to share/do things with you…all these time you spent in your 9 to 6 or even longer cubicles…can the money that you have earned by you back these?

We always thought we have more time with our old parents, but we are wrong. Time with them is ticking away every day. One day it will suddenly be gone. There is no regret medicine, no reset in time. Gone is gone and cannot come back. No matter you are billionaires or millionaires, you cannot reset this.

We always thought that we have more time with our spouse every day, but we are wrong. One day they will be gone too. When you read this, please go tell your spouse that you love him/her and he or she is the best thing that you ever had in your life.

I have picked out some of the more life reflecting articles of the CAREYOURPRESENT series. Do read them:

• The Best Advice to Parents and Child
• What if Later never come?
• What will you bring with you on your last day on Earth?
• Time is the ultimate currency, not money
• Our Life only have 5 short Days – we should live the best for every day
• Truly understand Living in the Moment now
• 11 Important Unexpected Life and Money lessons to learn from Your Children
• The days are long but the years are short
• Ditch your mobile phone to build real life
• Careyourpresent: Time is the most important
• Careyourpresent: What is your purpose of life?
• Careyourpresent : Greatest Regrets in life
• Careyourpresent : You might not believe it. It’s little unexpected things that make up a real life
• Careyourpresent: Something only happen once in life, if you missed it, it’s gone forever…
• Careyourpresent : Why is Gold useful?
• Careyourpresent: Frozen. Let it go!

You can read more about my articles on Careyourpresent via the Category “Careyourpresent” or simply click “Careyourpresent” via the main menu bar.

REMEMBER:

Love your life daily.

You have one less day with your spouse, parents, children and yourself.

Time is ticking away.

For each passing day,

Enjoy and Treasure your Life!

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