Best For

  • Traders
  • Financial Institutions
  • Exchanges
  • Investors

Paxos Standard (PAX) is a stablecoin pegged to the US Dollar. Issued by the Paxos Trust Company, PAX is fully backed 1:1 to the USD. All client funds are audited, regulated, and held in segregated FDIC insured bank accounts.

Paxos Standard Stablecoin - 2020 Comprehensive Review

Overall Score:

9
Trusted
Liquidity:
8.5 of 10
Transparency:
9.5 of 10
Ease of Use:
9 of 10
Trust:
9 of 10
Fees:
9 of 10
Security:
9.5 of 10

Paxos Standard Stablecoin Overview

TickerPAX
Current Price$1.00
24H Volume$122,186,093.63
Market Cap$245,057,594.00
Circulating Supply244,951,954
Market Rank62
Collateral TypeFiat-Backed
Base CurrencyUSD
ExchangesBinance, Kucoin, Bittrex Global, Bitfinex, Gate.io, OKEx, Bitmax, Huobi Global, KyberSwap, Uniswap, HitBTC
BlockchainsEthereum
Hardware WalletsLedger, Trezor
Deposit InsuranceYes
Audit FrequencyMonthly
Minimum Purchase1000
Minimum Redemption100

Paxos Standard (PAX) Exchanges

ExchangeRatingPricePairs24hr Volume
Binance8.5/10$1.008$9,375,998.16
OKEx7.5/10$1.002$1,381,033.46
Bitmax5/10$1.002$801,804.46
HitBTC3.5/10$0.994$223,893.55
Bittrex Global6.5/10$1.002$65,336.37
Huobi Global8/10$1.001$24,948.67
Kucoin7.5/10$0.994$978.74
Gate.io6.5/10$1.002$241.51
Bitfinex7/10$1.002$19.37
KyberSwap7.5/10$1.001$2.99
Uniswap7/10$0.000$0.00

Paxos Standard (PAX) Wallets

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

Paxos Standard Borrow Rates

PlatformAPR RateCollateral LTVLoan Amounts
Celsius Network3.46% - 6.26%25% - 50%$1,500 - $1,000,000
Crypto.com8%50% - 65%$1,000 - $100,000

Paxos Standard Interest Rates

PlatformAPY RateLockup TermsDeposit Amounts
Celsius Network11.55%Flexible$1 - $100,000
Crypto.com6% - 10%3 Months$25 - $1,000,000
Nexo8%Flexible$1 - $2,000,000

Paxos Standard Stablecoin Alternatives

Rating9/109.5/105/10
Collateral TypeFiat-BackedFiat-BackedFiat-Backed
Audit FrequencyMonthlyMonthlyInfrequent
Deposit InsuranceYesNoNo
Incorporated CountryUnited StatesUnited StatesBritish Virgin Islands
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • ERC20 - PAX is issued entirely on the Ethereum blockchain. This enables easy personal wallet storage for users, transparency, and fast transaction speeds.
  • Liquidity - PAX is listed on several major exchanges including Binance.
  • Monthly Audits - Audits are performed monthly by the Withum accounting firm to ensure that PAX is fully collateralized at 1:1 by US dollars. These reports are then published on the Paxos Trust Company website for public viewing.
  • Regulated & Compliant - Paxos Trust Company, LLC is regulated by the NYDFS (New York State Department Of Financial Services).
  • Insured Customer Funds - Customer balances are held in segregated FDIC insured bank accounts located within the US.

Cons

  • Centralized - PAX can be frozen, confiscated, or censored by authorities in the event that they believe any illegal activity has occurred or terms and conditions have been broken.
  • Privacy - Trading PAX in large amounts on cryptocurrency exchanges will require KYC. In addition to this, any user looking to purchase or redeem PAX with fiat will be required to undergo KYC and submit personal identification documents.

Frequently Asked Questions

What is Paxos Standard Token (PAX)?

Is PAX safe?

Is PAX an ERC20 token?

What is PAX used for?

Where can I buy PAX?

Summary

PAX is a growing force in the stablecoin market trailing only Tether (USDT) and USD Coin (USDC) in market cap and trading volume. Liquidity is improving and Paxos Trust Company, LLC has done everything they can to appease financial regulators.

Paxos as a company has continued to innovate and forge partnerships in the space since its stablecoin launch in 2018. Binance (BUSD) and Huobi (HUSD) have selected Paxos to provide stablecoin infrastructure for their respective stablecoins. Paxos has also recently launched Pax Gold (PAXG) - a tradeable digital asset fully backed by gold.

Blockfer has rated PAX highly as an excellent option for both retail and institutional traders and investors. Strong leadership, full regulatory compliance, and innovative product rollouts have all contributed to the stablecoins success.

Learn More Best Features

Paxos Standard Official Website

  • Always Trades 1 PAX to 1 USD in the itBit Exchange that is owned and operated by the Paxos company.
  • Strong regulation from the NYDFS and Bitlicense. Guarantees transparent monthly attestation.
  • Good market liquidity on BTC/PAX pairs on major international exchanges like Binance and Okex.

Legal & Regulation - Facts & Figures

Legal NamePaxos Technology Solutions, LLC
Incorporated CountryUnited States
HeadquartersNew York, NY
Year Founded2012
CEOCharles Cascarilla
Total Employees51-200
Regulators New York State Department of Financial Services (NYDFS)
Links Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The stablecoins found in this category have been researched extensively by our team as part of the review process. Factors we analyze in our stablecoin reviews and comparisons include: trading volume, listings, purchase and redemption process, issuer trust, collateral type, borrow rates, interest rates, and wallet compatibility.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

Make Better Decisions With Your Crypto.
How We Earn Revenue
Make Better Decisions With Your Crypto.
How We Earn Revenue