Loja de ouro perde 8%! Teste real do token PAXG "ouro em cadeia" com taxas totais que esmagam a caderneta de poupança do Banco de Taiwan

Taiwaneses have three ways to buy gold: Taiwan Bank Gold Savings Account, cash purchase at a jewelry shop, and on-chain gold tokens PAXG. Practical tests show that the seemingly most complex on-chain method can actually have the lowest deposit and withdrawal fees among the three.
（Background: What is the gold token PAXG? One coin equals one ounce of gold）
（Previous summary: In-depth analysis of gold tokens: What are the differences between PAXG and XAUT?）

Table of Contents

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• Taiwan Bank Savings vs Jewelry Shops
• Fees for PAXG on-chain gold tokens
• 100,000 TWD practical comparison table

Gold prices hit a historic high, and Taiwanese rush to buy gold, causing long lines at jewelry shops. But have you ever calculated how much money is actually lost from “buy” to “sell” in this round trip?

The answer might surprise you. Buying and selling gold at jewelry shops can have a price difference of over 8%, Taiwan Bank Gold Savings Accounts about 2.3%, while the widely considered “expensive and complicated” on-chain gold token PAXG can actually have fees starting from just 1.2%.

This isn’t an advertisement for cryptocurrencies; the numbers speak for themselves. Let’s break it down for a comparison.

Taiwan Bank Savings vs Jewelry Shops

First, look at the most used Taiwan Bank Gold Savings Account. Today (3/17), Taiwan Bank’s selling price is NT$5,160 per gram, buying price NT$5,101 per gram, with a spread of NT$59, which is about 1.15%. Buying once costs 1.15%, selling again 1.15%, so round trip totals 2.3%. Investing NT$100,000, just the spread can evaporate NT$2,300.

There’s also a lesser-known pitfall: if you want to withdraw physical gold bars from the Taiwan Bank Gold Savings, you need to pay an additional fee (about NT$200–NT$500), and once withdrawn, Taiwan Bank won’t buy it back. Yes, you read that right—once you withdraw, you can’t return it.

Jewelry shops are even worse. The trading spread for investment-grade pure gold bars is about 4–6%, and for gold jewelry, it can soar to 8–10%. Today’s actual quote from a jewelry shop was NT$20,260 per tael for selling, NT$18,560 per tael for buying, with an 8.4% spread.

Investing NT$100,000 and then selling results in a loss of over NT$8,000.

Additionally, jewelry shops have limited business hours, so you need to go in person to sell.

PAXG On-chain Gold Token Fees

PAXG is a gold token issued by Paxos, where 1 PAXG equals 1 ounce of physical gold stored in London vaults.

For those used to traditional gold buying channels, it might seem unreliable, but the fee structure is actually quite simple.

Taking an example of depositing funds: the full process is buying TWD on an exchange, converting to USDT (with a single premium of about 0.5–1.5%) → buying PAXG with USDT (transaction fee 0.1%) → holding custody with zero fee → selling PAXG for USDT (0.1%) → converting USDT back to TWD for withdrawal (0.5–1.5%).

Total round-trip fees add up to about 1.2% to 3.2%.

If you take the middle value, roughly 2%, it’s comparable to Taiwan Bank Gold Savings, and PAXG can be traded 24/7 without waiting for bank hours.

Moreover, the creation fee for PAXG (directly purchased on Paxos platform) is waived until 2026/3/31. In Taiwan, BitoPro and HOYA exchanges also list PAXG, allowing direct TWD purchases.

100,000 TWD Practical Comparison Table

The numbers are here. PAXG indeed has an advantage in costs, but that doesn’t mean it’s suitable for everyone.

Risks of on-chain gold are entirely different: exchange insolvency risk (remember FTX?), smart contract vulnerabilities, lack of clear regulation in Taiwan, P2P deposit scams, and exchange rate fluctuations between TWD and USD that add to gold price risk.

Additionally, redeeming physical gold with PAXG requires a minimum of 430 PAXG (about NT$55 million), which is not practical for most people.

• For those seeking safety and compliance, avoiding crypto, Taiwan Bank Gold Savings is the most stable choice, with 2.3% as a reasonable cost.
• For those wanting physical gold or collectibles, jewelry shop gold bars are fine, but avoid gold jewelry (manufacturing costs are hidden killers).
• For those familiar with crypto operations and seeking low fees, PAXG has the lowest deposit and withdrawal costs, with 24/7 liquidity.

Most people misunderstand one thing: they think “traditional = cheap, crypto = expensive.” But what really eats into your returns are those opaque buy-sell spreads. Jewelry shop gold jewelry with an 8% spread means gold prices need to rise by 8% before you start making money. Next time you buy physical gold, consider calculating the costs first.

• This article is for reference only and does not constitute investment advice. The gold market has recent high volatility; please carefully assess risks before investing.