Paxful is a peer-to-peer bitcoin marketplace that connects buyers and sellers. It has been operating since 2013 and claims to be the largest peer-to-peer marketplace for buying and selling bitcoins.
Paxful is a peer-to-peer marketplace that allows users to buy bitcoin instantly.
If you want to learn more about Paxful, you’ve come to the right place. We’ve done the research for you and put up a comprehensive review so you can learn more about Paxful. This tutorial will teach you more about Paxful, including who they are, how to create an account, and how to utilize the exchange. Let’s take a deeper look at Paxful and the services it provides.
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Bitcoin is the only cryptocurrency that is currently available.
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Gift certificates, Western Union, PayPal, Skrill, Neteller, ApplePay, AmEx, and more methods of deposit are available.
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AUD, GBP, EUR, USD, CAD, and other currencies are accepted.
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Email for assistance
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Fees: 0.01 percent service charge plus a variable cost set by the vendor.
What exactly is Paxful?
Paxful is a peer-to-peer marketplace that helps consumers and sellers connect. The site operates similarly to Amazon in that it does not need the use of a third-party to facilitate transactions. It’s essential to remember that Paxful is not a retail site, but rather a cryptocurrency exchange.
Paxful is a fantastic cryptocurrency trading platform. It has an easy-to-use interface and a variety of payment options. The site does offer assistance to customers all over the globe, but it is not presently registered in the state of New York, thus New York residents are unable to utilize it.
One thing to keep in mind is that the website does not support cryptocurrencies. To seal the transaction, you engage with other users on the site, which sends your digital currency directly to your wallet. While Paxful is often referred to as an exchange, it is more of a person-to-person market.
Who are Paxful and what do they do?
Paxful began as “EasyBitz” in 2014, but changed its name to Paxful less than a year later. It was established by Artur Schaback and Mohammed Ray Youssef in Wilmington, Delaware, in the United States.
Youssef is a New York City native who has been running businesses since the early 2000s. He’s a full-stack web developer and a systems administrator. Schaback is an Estonian native who has worked in the financial infrastructure industry for a long time. Ivan, a third member of the team, is described as the company’s CTO. Prior to joining Paxful, he worked at Adcash.
Consider the following:
Because Paxful is a peer-to-peer marketplace, you should be cautious while utilizing it. While Paxful has built a strong reputation as a secure and safe site to purchase and sell cryptocurrency, it’s still a good idea to keep a few things in mind while you use it.
- Make sure the customer or seller you’re dealing with is trustworthy and secure. Look for accounts that have a lot of good comments and are confirmed. You should usually engage with people who have a 98 percent or better rating.
- Set up no transactions that don’t happen on the platform. Request that an external transaction be conducted via Paxful if a seller requests one. Additionally, use the Paxful messenger to prevent receiving scams on your phone or through email.
- Choose a payment option that offers you a reasonable level of security. Gift cards are attractive to scammers since they are untraceable. If you have issues with a Paypal, bank, or credit card transaction, you’ll have access to tools to assist you.
- Prices are generally subject to change depending on how you pay. Make sure you write down your needs clearly so you can obtain a reasonable price.
- If you have any issues, please contact Paxful’s customer service staff. You may do the same if you’re not sure about a vendor. If you find yourself in a position with which you are uncomfortable or unfamiliar, contact their help staff.
Fees
Paxful does not collect fees directly from you when you purchase Bitcoin. Instead, the fee is set at the discretion of the vendor. This charge is typically determined by the form of payment you choose. Some costs are very expensive, particularly if you use a specific kind of payment method, such as a gift card.
Paxful, on the other hand, will charge you a 1% fee if you’re selling. You’ll also be charged a mining fee, which is covered by the vendor. You may provide good or negative feedback, as well as comments, once the transaction is completed. Remember that you will be rated, and other users will be able to see your rating on your profile.
Methods of Payment
You don’t have to worry about linking an external wallet to the site since all of your transactions go straight to your Paxful Bitcoin wallet. On Paxful, you may purchase Bitcoin with over 300 different payment methods. On Paxful, you can purchase Bitcoin using the following payment methods:
- Gift cards
- Transferring money from your wallet
- Paypal
- using a credit card
- Transfer of funds through bank
- MoneyGram or Western Union
Paxful is one of the best places to purchase bitcoin using PayPal and other unusual payment methods because of its extensive payment choices. Visit the Paxful website to view the complete range of payment methods available to you.
Paxful Account Creation
While you may look for someone to purchase Bitcoins from on the Paxful website, you must first establish an account in order to make a transaction. Paxful makes creating an account simple, so go over to the site to get started.
Key Info
- Bitcoin may be purchased using a variety of methods, including gift cards, Western Union, PayPal, Skrill, Neteller, ApplePay, AmEx, and more.
- Get Bitcoin Immediately: Paxful eliminates the need to wait days to purchase Bitcoin.
- The peer-to-peer market is easy and fast to use.
Do you want to buy Bitcoin the quickest way possible? Make use of Paxful.
In the upper right corner of the page, choose “Create Account.”
Fill in your email address, username, and password in the registration form that appears. Accept the Terms of Service and confirm that you are not a robot before clicking the “Create Account & Free Wallet” button. An email will be sent to your inbox requesting verification. You’ll be brought back to the Paxful site if you click on it. That is all there is to it. You’re all set to begin purchasing Bitcoin!
Although it is not necessary, we suggest that you spend a few minutes to set up two-factor authentication on your account. It will provide another degree of protection to your account and protect you from hackers attempting to steal your personal information. It’s a wise decision for every new account you create.
If you’re going to sell Bitcoin on Paxful, it’s probably a good idea to become a certified vendor first. This helps you build trust with other users on the site while also providing you with extra Paxful benefits. Verified merchants can only be found in Australia, Canada, Europe, or the United States.
You must complete the following steps to become a certified vendor:
- Send proof of address through regular mail.
- Upload a photo of a government-issued ID (Passport, Drivers License, etc.)
- Send in a video of yourself holding your passport or identification card.
Paxful is a marketplace where you may buy and sell items.
You’re now ready to begin buying and selling on Paxful. Let’s begin by looking at how to purchase Bitcoin utilizing the Paxful platform.
Buying
When purchasing Bitcoin on Paxful, the first step is to choose your payment option. You’ll have greater privacy, secure quicker payment, or encounter fewer or more vendors depending on whatever method you select. After you’ve chosen your payment method, you’ll need to specify how much Bitcoin you wish to purchase.
You’ll choose the fiat money you’ll use at this stage. You have a wide range of choices from which to select. US Dollars, British Pounds, Euros, and Canadian Dollars are the most frequently utilized currencies. To view what deals are available to you, click the green “Buy Bitcoin Now” button.
When utilizing Paxful, bear in mind that you’ll often see greater rates than you would on other exchanges or via a brokerage. This is owing to the fact that sites like Paxful are less safe and potentially risky for vendors.
A buyer, for example, may choose not to pay or label a transaction complete, resulting in the seller losing both their Bitcoin and the money due to them. By charging greater costs, sellers have a bit of a safety net in case the transaction doesn’t go as planned.
Once you’ve found a vendor that suits your needs, go through their conditions to learn more about dealing with them. Reading the conditions reveals the seller’s precise desires and provides you a clear sense of what they want from you.
If everything seems okay, click the “Buy” button. When you do, the Bitcoin is transferred to escrow and kept there until the transaction’s conditions are met. It’s a flawed system, but it keeps a lot of larger problems from happening. However, since some people try to cheat the system, issues arise from time to time.
To make a payment, follow the seller’s instructions. After that, you’ll choose the “I have paid” option, which will notify the seller. The Bitcoin in escrow is released and transferred to your Paxful wallet after they confirm they have received payment.
Selling
Perhaps you’d like to sell rather than purchase on Paxful. Let’s go through the selling procedure on the Paxful platform if that’s the case.
Before you can sell, you must first fund your Paxful wallet. You can build a Bitcoin wallet on the Paxful platform if you haven’t previously. Simply go to the top of the page and select the “Wallet” button. A bright yellow “Create Free Bitcoin Wallet Now” button will appear. You’re now ready to fund your Paxful wallet with Bitcoin.
You may sell your money after you’ve added them to your wallet. Hover your mouse over the green “Buy Bitcoin” drop-down menu and choose “Sell Bitcoin.” You may choose how much Bitcoin you want to sell and what payment methods you want to accept here.
When you’ve found someone to sell to, you may enter more detailed details about your transaction. Don’t forget to conduct some research before starting the transaction to see whether this is someone you want to sell to. Check their statistics and reviews, as well as when they were last online.
You may proceed with the deal if you believe you’ve located a suitable buyer. These transactions take place via the chat system, which allows you to negotiate the trade with the buyer, exchange files and papers, and complete the deal.
Security
Security is crucial because it protects your information and transactions. Paxful offers a secure and private platform in the following ways:
Authentication using two factors
We touched on this slightly before, but you can never have too much security. If hackers attempt to access your money or wallet, two-factor authentication adds another degree of security to your account.
Rankings of Reputation
Paxful can’t regulate everyone’s conduct on their site, but they attempt to minimize problems by assigning a reputation score to each of their users. This provides you with information about past transactions as well as how trustworthy they are when it comes to completing a transaction. You can discover the top customers and vendors while avoiding fraudsters using a reputation rating.
Invest in Security
When you sign up for Paxful, you’ll receive a free Paxful wallet. This wallet may be used to store your money safe and secure, as well as to move Bitcoins. In addition to your wallet, all Paxful servers follow the financial industry’s established security standards.
Customer Service
If you have an issue while utilizing Paxful, the company’s support staff is simple to contact and responds quickly. You may contact the staff through email or phone. You may also contact out through Facebook and Twitter if you utilize social media on a daily basis. Paxful also has a help website where you may get answers to frequently asked issues as well as extra resources and tutorials.
Last Thoughts
Pros:
- PayPal, Skrill, Mastercard, Visa, Western Union, and a variety of other payment options are available.
- Support for fiat currencies is excellent.
- Bitcoin will be held in an escrow account until transactions are processed.
- Buyers and sellers may opt to remain anonymous while utilizing the site.
- When you create an account with Paxful, you will be given a wallet.
- Users may utilize reputation ranking to get the information they need to make informed decisions about who they are purchasing or selling from.
- Users may use a mobile application that is accessible for both iOS and Android.
- Registration is simple and quick.
Cons:
- The Paxful platform’s prices are usually higher than those found on the average exchange.
- The buyer is responsible for payment costs, which may be very expensive with certain payment options such as gift cards and vouchers.
- Users who are dishonest utilize the system, increasing the danger of fraud connected with Paxful.
- Paxful currently only accepts Bitcoin and no other cryptocurrencies.
The most appealing feature of the Paxful platform is how simple it is to purchase and sell Bitcoin. You can buy or sell with Paxful if you have a computer or a smartphone. Users may choose from a number of payment options while remaining anonymous.
Despite the fact that the site has fraudsters, it tries all it can to eliminate them. Paxful has a team of customer care professionals that work tirelessly to offer a safe platform for customers, in addition to utilizing an escrow solution. When you have a problem, they are always willing to assist you.
Paxful provides a way for people who would otherwise be unable to purchase Bitcoin to begin utilizing cryptocurrencies. Paxful is a platform that appeals to everyone, whether you’re new to crypto or a seasoned pro. However, when utilizing the platform, be sure to take use of all of Paxful’s tools to guarantee that you’re dealing with people you can trust.
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Bitcoin is the only cryptocurrency that is currently available.
-
Gift cards, Western Union, PayPal, Skrill, Neteller, ApplePay, AmEx, and more methods of deposit are available.
-
AUD, GBP, EUR, USD, CAD, and other currencies are accepted.
-
Email for assistance
-
Fees: 0.01 percent service charge plus a variable cost set by the vendor.
Visit TotalCrypto.io for more information.
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2) Looking for Alternative Cryptocurrency Ideas? Discover which penny cryptos are worth keeping an eye on.
3) Not a fan of Binance or Bittrex? Find out why Kucoin is the home of so many altcoin investors.
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
Paxful is a peer-to-peer Bitcoin marketplace that allows users to buy Bitcoin with their debit card or PayPal. The site also includes reviews of the service. Reference: how to buy bitcoin on paxful with debit card.
Frequently Asked Questions
How do I buy Bitcoins on Paxful instantly?
Paxful is a peer-to-peer exchange that allows users to buy and sell Bitcoins instantly in person or online. To use the app, you must create an account by providing your email address and phone number. Once you have created your account, you will be able to search for local sellers who are willing to sell their Bitcoins to you.
How long does it take to buy Bitcoin on Paxful?
It typically takes about an hour to buy Bitcoin on Paxful.
How can I get crypto instantly?
You cant get crypto instantly, however, you can get it through an exchange. If you want to purchase cryptocurrency with cash, the easiest way is to use a service like Coinbase.
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