How does Paxos collect fees?

All PAX Gold (PAXG) fees are charged in PAXG, not in USD or in PAX. This means a small amount of your PAXG balance is taken as a fee, and you don’t have to wire additional funds in fiat to pay for the fees. It works as per the following:

  • When you create PAXG, you will receive the amount of PAXG you requested, less the conversion fee.
  • When you destroy PAXG on the Paxos platform by converting to dollars or unallocated gold, or by redeeming to physical gold, the conversion fee is deducted from the PAXG before processing the destruction.
  • When you send PAXG on the blockchain, the transaction fee is deducted from the amount of PAXG before sending the remainder to the recipient address.

Leave a Reply

Close Menu