How to Deposit PAXG to Binance? Address and Network Verification Guide

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PAXG is an ERC-20 token deployed on the Ethereum mainnet, and it only supports the Ethereum (ERC20) network for deposits to Binance. Unlike XAUT, Binance has not opened PAXG deposit channels for BSC or any other networks, and you will not be able to retrieve your funds if you select the wrong network.

1. Confirm the network your PAXG is located on

Operation purpose: Before initiating a deposit, confirm the network of the PAXG held in your wallet or on the withdrawal platform first.

Operation instructions:

PAXG is a gold-backed token issued by Paxos Trust Company, each PAXG is pegged to 1 troy ounce of physical gold, it is deployed on the Ethereum mainnet, and its official contract address is 0x45804880de22913dafe09f4980848ece6ecbaf78.

Scenario A: Your PAXG is on the Ethereum mainnet. This is the official native network of PAXG, you must select Ethereum (ERC20) on Binance's deposit page.

Scenario B: Your PAXG is on other networks. PAXG is only issued on the Ethereum mainnet. If you see a token named "PAXG" on BSC or other blockchains, it is not the official Paxos-issued PAXG, and Binance will not accept deposits of this token.

Verification criteria: You can clearly confirm that the PAXG to be transferred out is on the Ethereum mainnet, and the contract address of PAXG in your wallet matches the official address.

Pre-notice: Your Binance account must have completed KYC verification. If you have not registered yet, you can use the official referral code for sign-up.

Common failure causes: Users often assume that all tokens have a BSC version, but PAXG is currently only deployed on the Ethereum mainnet, and there is no official version for other networks.

2. Obtain the PAXG deposit address on Binance

Operation purpose: Log in to Binance, enter the PAXG deposit page, select the Ethereum (ERC20) network, and get the correct deposit address.

Operation steps:

  1. Log in to the Binance App or web version, go to [Wallet] - [Deposit] page.
  2. Search for "PAXG" and select the PAX Gold (PAXG) asset.
  3. Select network: Choose Ethereum (ERC20), this is the only supported deposit channel for PAXG.
  4. The page will generate the corresponding deposit address, you can copy this address.

Notes: PAXG deposit does not require a Memo, you only need to fill in the deposit address.

Verification criteria: You have obtained the ERC20 deposit address for PAXG on Binance, and confirmed that the selected network is Ethereum (ERC20).

Common failure causes: Binance has not opened a BSC network deposit channel for PAXG, which is different from the rules for XAUT. If you mistakenly transfer PAXG to a BSC-formatted address, your funds will be permanently lost.

3. Initiate the transfer from the sending platform

Operation purpose: Paste the Binance deposit address in the wallet or exchange that holds your PAXG to initiate the transfer, you must select the Ethereum (ERC20) network on the sending platform.

Operation instructions:

Transfer from an on-chain wallet:

  1. Open your wallet, confirm that the current network is switched to Ethereum Mainnet.
  2. Paste the Binance PAXG deposit address you copied earlier.
  3. Confirm the Gas fee amount and submit the transfer. As an ERC-20 token, PAXG transfers require ETH to be consumed as Gas fees.

Withdraw from another exchange:

  1. Log in to the platform you will withdraw from, select PAXG as the withdrawal asset.
  2. Paste the Binance PAXG deposit address.
  3. You must select Ethereum (ERC20) in the network options, do not choose any other public chain.
  4. Check that all information is correct and submit the withdrawal application.

Verification criteria: The transfer has been successfully submitted, and you can get the TxID of this transaction.

Pre-notice: The sender must have sufficient PAXG balance, and there is enough ETH in the wallet to cover Gas fees. The PAXG deposit amount must meet the minimum deposit threshold publicly announced by Binance, the specific value can be queried on Binance's deposit page.

Common failure causes: The wrong network is selected on the sending platform. Some exchanges support multi-chain token withdrawals, but PAXG only supports the ERC20 option.

4. Confirm deposit arrival via Etherscan

Operation purpose: After getting the TxID, confirm the transaction status is successful on Etherscan, then go back to Binance to verify the credit of the funds.

Operation steps:

  1. Open the blockchain explorer Etherscan (etherscan.io).
  2. Paste the TxID to query the transaction details, confirm two pieces of information:
    • Transaction status: It must be displayed as Success
    • Token information: Confirm that the token is official PAXG, and the contract address matches 0x45804880de22913dafe09f4980848ece6ecbaf78
  3. After confirming the on-chain transaction is successful, go back to Binance [Wallet] - [Deposit History] to check the credit status. The Ethereum network requires 12-20 block confirmations, and the deposit is usually completed within 10-30 minutes.

Verification criteria: The PAXG balance in your Binance account is updated, showing that the deposit has arrived.

Common failure causes: Users mistakenly use BscScan to query PAXG transactions. PAXG is an ERC-20 token, and its transaction details can only be queried on Etherscan.

Operation tip: It is recommended to transfer a small amount for a test on your first PAXG deposit, confirm that it arrives successfully, then transfer the remaining amount to avoid losses caused by operational errors.

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