Paxful is a peer-to-peer bitcoin marketplace that connects buyers and sellers. It allows people to buy bitcoin with more than 300 different payment methods, including gift cards, cash deposits, and online wallets. Sellers can choose from a variety of payment methods as well, including PayPal, Western Union, and Amazon Gift Cards. Paxful charges 1% commission on each transaction.
Paxful is different from other bitcoin marketplaces because it allows for a wider range of payment options. It also has a built-in escrow system that protects buyers and sellers from fraud.
| Company Name | Paxful Inc. |
| Founded Year | July 1, 2015 |
| Company Type | Private |
| Founder | Artur Schaback, Ray Youssef |
| Headquarter | New York, USA |
| CEO | Ray Youssef |
How it Works
When a buyer wants to buy bitcoin on Paxful, they first need to create an account. They can then browse the list of sellers and choose the one that best suits their needs. The buyer can then select how they want to pay for the bitcoin, and the seller will provide them with a unique payment address. Once the payment has been made, the bitcoin will be transferred to the buyer’s wallet.
One of the key advantages of using Paxful is the wide variety of payment options available. This makes it easier for buyers to purchase bitcoins without having to use a traditional bank transfer or credit card. For sellers, it provides an easy way to convert their bitcoins into fiat currency without having to go through an exchange.
Another advantage of Paxful is the escrow service that helps protect both buyers and sellers from fraud.
How to buy bitcoin on Paxful
If you want to buy bitcoin, Paxful is a great option. The site allows you to buy bitcoin with a variety of payment methods, including credit cards, bank transfers, and PayPal. You can also use gift cards and other cryptocurrencies.
To get started, create an account on Paxful.com and verify your email address. Then, link your bank account or debit card. You can also add funds to your Paxful wallet by converting gift cards or other cryptocurrencies.
Next, search for sellers who are offering the type of bitcoin you want to buy. You can filter results by payment method and price. Be sure to read the seller’s profile and reviews before making a purchase.
Once you’ve found a seller you trust, click the “Buy” button and enter the amount of bitcoin you want to purchase. Enter your payment information and hit “Submit.
Paxful affiliate program
Looking to make some extra money? Why not sign up for Paxful’s affiliate program! You can earn commission on every transaction that takes place through your unique referral link. Plus, there’s no limit to how much you can earn.
To get started, simply create an account and then add your referral link to your website, social media profile, or wherever you want people to click it. When someone uses your link to buy or sell bitcoin, you’ll earn a commission on the transaction.
It’s a great way to promote Paxful and help more people get into the world of bitcoin. So sign up today and start earning!
Read also // WordHero AI Writing tool review
How to trade on Paxful app
There are a few things you need to do in order to trade on Paxful. The first step is to sign up for an account on the website. Once you have registered, you will be able to create a listing for the item or service you wish to sell. You will also need to deposit some Bitcoin into your Paxful wallet in order to fund the transaction. Finally, you will need to find a buyer who is interested in your offer.
When creating a listing, it is important to provide as much information as possible. This will help buyers make an informed decision about whether or not they want to buy from you. Be sure to include a clear title, description, and price for your item. You should also upload pictures of the item if possible.
Once you have found a buyer, the next step is to finalize the transaction.
Who can join?
Anyone can join Paxful, as long as they are over 18 years old and have a valid email address. Paxful is a global peer-to-peer marketplace where people can buy and sell bitcoins. It operates in over 200 countries and has millions of users.
It doesn’t matter if you’re from United States, Nigeria, Kenya, Australia, India or any other part of the world, the platform is open to everyone. Of course, if you’re in Canada you may prefer Shakepay over paxful since it’s localized for Canadians.
Who owns Paxful
Paxful was founded in 2015 by Ray Youssef and Artur Schaback. The two met while working at a tech startup in New York City. They recognized the potential of bitcoin and saw an opportunity to create a peer-to-peer marketplace where buyers and sellers could trade the digital currency.
Paxful is registered as a Money Services Business with the Financial Crimes Enforcement Network (FINCEN). The company has also received licenses from the New York State Department of Financial Services (NYDFS) to operate as a virtual currency exchange and a money transmitter.
Why Paxful bans accounts
On Paxful, buyers and sellers use Bitcoin wallets to trade Bitcoins. The wallets are encrypted and are used to store the buyer’s and seller’s Bitcoins.
The reason for banning an account on Paxful can vary from user to user. For example, a user may be banned for violating the terms of service or because the user has been reported for scamming others on the site.
Bans can also occur when there is suspicion of money laundering or terrorist financing activities. In some cases, users have had their accounts banned without any warning or explanation from Paxful.
Can paxful app wallet be traced
While the site does not guarantee that your transactions are untraceable, they claim that it is very difficult to track payments made through their system.
Paxful also offers a number of security features, such as two-factor authentication and multisignature wallets, to help keep your bitcoins safe.
Is paxful.com legit?
There are a number of positive reviews online from users who have had positive experiences using the site. Paxful is registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business and is also compliant with the BitLicense framework.
The company has a solid reputation for security, with two-factor authentication and PGP encryption available for users. There have been less reported cases of fraud or theft on the site, which adds to its legitimacy. Overall, paxful.com seems to be a reliable and safe way to buy and sell bitcoin.
Related: Appsumo review all you should know
Can you get scammed on Paxful?
While Paxful is a legitimate site, there are some risks associated with using it. One of those risks is the possibility of getting scammed.
There are a few things you can do to protect yourself from scams on Paxful. First, only use trusted sellers. You can verify a seller’s trustworthiness by looking at their feedback score and by reading reviews. Also, be careful when dealing with high-value transactions.
Another thing to keep in mind is that Paxful doesn’t offer refunds for transactions that go wrong. So, if you do get scammed, you won’t be able to get your money back. Use caution when trading on Paxful and take the necessary precautions to protect yourself from scams.
Paxful alternatives
When it comes to buying and selling Bitcoin, Paxful is one of the most popular platforms around. However, there are some alternatives to Paxful that you may want to consider.
One alternative is LocalBitcoins. This platform allows you to buy and sell Bitcoin with people in your local area. You can also use LocalBitcoins to trade Bitcoin for other cryptocurrencies.
Another alternative is Coinbase. Coinbase is a popular cryptocurrency exchange that allows you to buy and sell Bitcoin, Ethereum, and Litecoin. It also allows you to store your cryptocurrencies in a wallet on the Coinbase website.
Finally, there is BitPanda. BitPanda is a European cryptocurrency exchange that allows you to buy and sell Bitcoin, Ethereum, Litecoin, and Dash. It also has a built-in wallet for storing your cryptocurrencies.
Paxful platform FAQs
Can paxful be trusted?
The simple answer is YES. But there are a few things to consider when answering this question. Firstly, paxful is a peer-to-peer platform, meaning that transactions take place between buyers and sellers directly, without an intermediary. This can be both good and bad – on the one hand, it means that there is no central authority to which complaints can be directed; on the other hand, it means that buyers and sellers can negotiate directly over prices and other terms.
Secondly, paxful has been in business for a few years now and has built up a large user base. This suggests that it is a reliable platform with a good reputation.
Why does paxful require ID?
There are a few reasons why Paxful requires ID verification. The first reason is to prevent fraud. Without verifying someone’s identity, it would be easy for someone to create multiple accounts and scam others. The second reason is to comply with KYC (know your customer) regulations. By verifying users’ identities, Paxful ensures that they are aware of who they are doing business with. This also helps protect users from scams and fraudulent activities.
Where is paxful located?
Paxful is headquartered in New York.
You may also like: Everything you should know about Acorns.com
