To swap PAXG to USDT, choose PAXG on Ethereum as “from” and USDT on the network you want as “to”, approve PAXG once and confirm. On November 12, 2026, $1,000 of PAXG (0.254074 PAXG) quoted 995.30 USDT on Ethereum, about 3,917 USDT per ounce, before the 0.7% service fee. Cross-chain routes deliver USDT on BNB Chain, Solana or Tron in the same transaction.
Key Takeaways
- Route type: DEX aggregators on Ethereum (5-6 routes on our check), or one-step cross-chain.
- Time: one Ethereum block on the same network; about 1 second to Solana, 41 seconds to BNB Chain, 64 seconds to Tron.
- Cost: a 0.25% route fee plus $0.13-0.94 of Ethereum gas; the pool spread grows with size.
- Main catch: PAXG has 18 decimals, so amounts look long in wallets; check the USDT you receive, not the digits.
What Is PAXG?
PAXG (PAX Gold) is an ERC-20 token issued by Paxos Trust Company, a New York-regulated trust company. Each PAXG represents one fine troy ounce of a London Good Delivery gold bar held in Paxos vaults, and holders can look up the specific bar allocated to their address on Paxos’s site. Contract 0x4580...Af78, 18 decimals. CoinGecko counted about 447,700 PAXG in circulation on November 12, 2026, a market cap of about $1.76 billion; LI.FI priced it at $3,935.89.
What Is USDT?
USDT is Tether’s dollar stablecoin and the default trading dollar on most exchanges. Each network has its own USDT token and gas coin, see USDT networks explained.
How the PAXG to USDT Swap Works
On Ethereum, aggregators (Nordstern, Kyberswap, 1inch, Fly, OKX DEX, SushiSwap) split the trade across gold-token pools to reach USDT. You approve PAXG once and sign the swap. For USDT on another network, a bridge or solver (Layerswap, Symbiosis, Relay, Stargate and others) takes the PAXG on Ethereum and pays USDT on the destination.
Quotes by Amount (Ethereum, November 12, 2026)
| You send | PAXG | You receive | Below reference | Gas | Best route |
|---|---|---|---|---|---|
| $100 of PAXG | 0.025407 | 99.67 USDT | 0.33% | $0.13 | Nordstern |
| $1,000 of PAXG | 0.254074 | 995.30 USDT | 0.47% | $0.22 | Nordstern |
| $10,000 of PAXG | 2.540743 | 9,946.11 USDT | 0.54% | $0.94 | Kyberswap |
“Below reference” compares the USDT received with the dollar value of the PAXG sent, including the 0.25% route fee. The extra gap at $10,000 is pool depth: PAXG’s on-chain liquidity is thinner than XAUT’s, which lost only about 0.33% at the same size. For amounts well above $10,000, split the order or compare with Paxos redemption. Quotes are LI.FI routes before the 0.7% Step Exchange service fee.
Which Network to Receive USDT On ($1,000 of PAXG)
| USDT on | You receive | Route | Time |
|---|---|---|---|
| Ethereum | 995.30 USDT | Nordstern | one block |
| BNB Chain | 993.61 USDT | Layerswap | about 41 s |
| Solana | 991.85 USDT | Relay | about 1 s |
| Tron | 991.22 USDT | Symbiosis | about 64 s |
Staying on Ethereum paid the most; every cross-chain route cost 1.7 to 4.1 USDT more. Pick Tron or BNB Chain only if the USDT has to land there, for example on an exchange that accepts only TRC-20 or BEP-20 deposits. Moving USDT on Tron later needs TRX: USDT to TRX.
PAXG vs XAUT
| PAXG | XAUT | |
|---|---|---|
| Issuer | Paxos (New York trust company) | Tether |
| 1 token | 1 troy ounce | 1 troy ounce |
| Supply (Nov 12, 2026) | about 447,700 | about 809,000 |
| $1,000 to USDT on Ethereum | 995.30 USDT | 997.26 USDT |
On the same day XAUT sold for about 0.2% more USDT per $1,000. Some holders prefer PAXG for its US regulatory status, others XAUT for liquidity. Selling XAUT instead: XAUT to USDT.
Swap or Redeem With Paxos?
Paxos lets verified customers redeem PAXG through a Paxos account for dollars or, at larger sizes, for physical gold under its terms. That makes sense for big positions or if you want the metal. For selling a few ounces into dollars, an on-chain swap needs no account and settles in one block.
Step by Step
- Connect your Ethereum wallet holding PAXG, with a little ETH for gas.
- From: PAXG on Ethereum. To: USDT on Ethereum or another network.
- Approve PAXG once and keep slippage at 0.5%.
- Paste the receiving address if USDT goes to another network.
- Check the USDT received and confirm.
Mistakes to Avoid
- One big order: at $10,000 the gap grew to 0.54%; split large sales.
- Reading decimals wrong: PAXG uses 18 decimals; 0.254074 PAXG is about $1,000.
- Wrong network for an exchange: match TRC-20, BEP-20, ERC-20 or SPL with the deposit address.
Other routes: USDT to USDC, ETH to USDT, BTC to USDT.