PAX is the native cryptocurrency of Paxeer Network. You can earn PAX, receive it from peers, or buy it from exchanges and apps.
When you download a wallet it will create a public PAX address for you. Here's what one looks like:
Example: Do not copy – Think of this like your email address, but instead of mail it can receive PAX. If you want to transfer PAX from an exchange to your wallet, use your address as the destination.
Check which services you can use based on where you live.
Exchanges are businesses that let you buy crypto using traditional currencies. They have custody over any PAX you buy until you send it to a wallet you control.
If you want more control, buy PAX using smart contracts. With a DEX you can trade digital assets without ever giving control of your funds to a centralized company.
Once you have a Paxeer account, all you need to do is share your address to start sending and receiving PAX (and other tokens) peer-to-peer.
If you already have some PAX, you can earn more by participating in network validation. You get paid for helping secure the Paxeer Network.
You can earn PAX by working for DAOs or companies that pay in crypto, winning bounties, finding software bugs, and contributing to the ecosystem.
Decentralized exchanges are open marketplaces for PAX and other tokens. They connect buyers and sellers directly without intermediaries.
Instead of using a trusted third party to safeguard funds in the transaction, they use code. The seller's PAX will only be transferred when payment is guaranteed. This type of code is known as a smart contract.
Note: DEXs aren't for beginners as you'll need some PAX to use them for transaction fees. Always do your own research before using any DEX.
With PAX, you're not trusting a bank or company to look after your assets – you're taking responsibility for yourself.
One of the main features of Paxeer is that you keep control of your own assets by managing your own account. This means you don't have to trust any third party with your assets.
If you lose access to your account, you'll lose access to your funds. Your wallet should give you instructions on protecting against this. Be sure to follow them carefully.
Remember transactions can't be reversed and wallets can't be easily recovered so take precautions and always be careful. Double-check addresses before sending.
Now that you own some PAX, check out some Paxeer applications (dapps). There are dapps for finance, trading, and lots of other categories.