PAX Gold (PAX) Savings Account: Earn Interest on Crypto
YouHodler’s list of options to choose from for crypto savings accounts continues to grow. These low risk, high yield savings accounts help users earn interest in crypto up to 3.04% per year. PAX Gold (PAXG) is quickly becoming a popular choice for those that want to bridge the gold and crypto markets. Here are some additional facts on PAXG and also learn how to easily accumulate crypto interest on YouHodler.
What Is PAX Gold and how to earn PAXG interest
PAX Gold, release by the Paxos Trust Company in 2019 is the first crypto-asset backed by and redeemable for real gold. Paxos is a fully regulated financial institution that has approval by the New York State Department of Financial Services (NYDFS). Hence, PAXG is the very frist regulated digital gold token. Paxos has past experience dealing with asset-backed tokens as the Paxos Standard (PAX) is allegedly the most liquid regulated dollar-backed stablecoin.
Pros and cons of PAXG
PAXG has a wide variety of advantages backed by its reputable company. However, it’s always important to do your due diligence before buying any asset. So here are a few pros and cons to get you started.
Pros:
- The power to own and trade real London Good Delivery gold bars
- Fully regulated
- Quick and easy access to the gold market
- Low minimum investment (0.01 PAXG)
- Free gold storage in the worlds’ most secure vaults
- No need to own a full bar. Fractional ownership available (divisible to 18 decimal places).
Cons:
- While more stable than cryptocurrency, the value of gold can in fact fluctuate wildly.
- Increased demand for gold means more mining which is potentially bad for the environment.
PAXG staking: Why earn interest on crypto with YouHodler
YouHodler provides a variety of ways to profit from digital assets and with crypto savings accounts, users can unlock high yield, low-risk investment tools. Here are a few reasons to earn interest in crypto with YouHodler:
- Earn gold up to 3.04% High-yield savings accounts: Earn 3.04% interest per year on YouHodler. This is exceptionally higher than any “high-yield” traditional bank savings accounts and other investments. YouHodler offers its clients unlimited flexibility, allowing users to easily deposit and withdraw funds anytime, anywhere.
- Guaranteed asset security: All crypto funds on YouHodler are secured with industry-best practices when it comes to storage. Funds are never stored 100% in hot wallets. Instead, we use a mixture of hot and cold wallet storage to ensure maximum protection of users’ funds. Read more details about YouHodler trust and security features here.
- Crypto interest paid out weekly without any fees: At the end of each weekly settlement period, the whole earn amount of crypto interest is deposited into the users’ savings account deposit. Users can choose to release it from the savings account and withdraw or keep the funds in the account to earn more crypto interest in the next settlement period.
Explore other ways to earn interest on crypto with YouHodler
PAXG is just one option to earn interest in crypto with YouHodler. Visit our Earn Interest page to see the wide variety of stablecoin, and cryptocurrency coins to choose from. Earn interest in Bitcoin, Binance Coin and much more. Earn crypto with a savings account and discover a more productive way to HODL.
Paxos Gold saving wallet App that pays interest
YouHodler wallet app is the only application where you can store your Paxos Gold (PAXG) just like you would in a regular wallet but in addition, earn interest on that PAXG wallet balance every week.
How does PAXG interest work
You can earn interest on PAXG just like you would with a traditional bank savings account but with one key difference. Instead of near to zero interest rates at banks, we offer you 3.04% interest on PAX Gold.
How to Earn Free PAXG
It’s easy! Just deposit PAXG to your YouHodler wallet and you’ll earn free PAXG every week.
How to Get Free PAXG
Interest payments occur every seven days. So you’ll get your free PAXG a week after your first deposit.
Cumulative Interest PAXG
Yes, you have cumulative interest if you HODL PAXG in the wallet. We calculate compound interest rates every week.
PAXG APY & Yield
Compared to other platforms, we offer APY instead of APR. APR gives you interest payments without the compounding effect. Hence, with APY at YouHodler, you get more PAXG at the end of the year due to this cumulative interest.
PAXG Savings Calculator
Just use our PAXG Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.
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