The crypto market mainly depends on Bitcoin to determine its direction and the amount invested in the market. It is also easier to invest in Bitcoin since the most exchange, and trading platforms have Bitcoin for sale. Converting Bitcoin for any altcoins is thus a more suitable option for traders using crypto aggregator – Alligat0r and such. It makes it very easy to access and hold different kinds of coins in your wallet at the best prices.
What is Bitcoin?
Bitcoin is the pioneer cryptocurrency that started the revolution of Web 2.0. It has since its inception changed the manner technology can be integrated into all kinds of products and services. Even though the market used to be skeptical about the idea of the technology, with time, it has onboarded various projects. Bitcoin is also used as a currency in the crypto market for exchange with other value coins due to its ease of availability and access.
What is PAX?
Paxos Standard, commonly known as PAX, is an ERC 20 token based on the Ethereum blockchain. It is a regulated stable coin and integrated with the US dollar. It makes it unique with the benefits of blockchain and the dollar’s stability as a fiat currency. Every PAX token is backed by a certain amount of USD, making it highly stable.
In addition, the token makes it very easy to conduct international payments, instant transactions, decentralized accounting, etc. PAX was introduced after the Tther controversy, where coins were made nowhere. Using the situation to its advantage, PAX created a scenario to maintain the utmost transparency possible. It has a smart contract to conduct regular audits on the reserve by competent contract auditor Nomic Labs and Withium, a leading US audit company, also conducts audits on the reserves. So the token is extra secure in comparison to all other cryptocurrencies.
How to convert BTC to PAX?
The reason why converting BTC to PAX can be a fruitful exchange is described thoroughly at Allugat0r.com. Once you know all those details, you would be highly interested in knowing the conversion process of the coin pairs. The following steps can be used for converting the coins.
- First, on the exchange aggregator, Alligat0r click on the Swap button.
- Enter the coin pair that you want to exchange, in this case, BTC and PAx.
- Once you have done that, you need to put in the amount of BTC you would like to exchange. The aggregator will also reflect instantly how many PAX you would receive for that amount of BTC.
- Next, enter the details of the wallet where you hold your BTC.
- The next step would be to find you the best prices and best offers across various exchange platforms, which will help you to avail the right price.
- Next, add the wallet details where you want your PAX to be deposited.
- On a successful transaction, you will receive the PAX instantly at the desired wallet address.
The steps are straightforward and clear to follow. The aggregator also provides the security of direct transfers from wallets, so there can be no possibility of losing your coins due to custody or scams.
Considering the current upward rising trend in crypto investments has become a very lucrative asset to hold. So, if you are looking for an entry point into various exciting projects, exchanging coins can be the best and safest option.
The post How to Сonvert Bitcoin to Paxos Standard? appeared first on Techlazy.com.