How to buy and sell bitcoin on Paxful tutorial review

 

In this ‘How to Buy and Sell bitcoin on Paxful tutorial guide, you’ll learn everything you need to know about trading bitcoin on one of the world’s largest and most popular Cryptocurrency trading platforms.

Paxful is truly an amazing marketplace/exchange where bitcoin buyers and sellers can meet and transact or trade their bitcoins safely (as Paxful serves as the escrow for the transactions – to avert scam).

The site has a jaw-dropping 300+ payment options for buyers and sellers to choose from!!! (I’m yet to see any website on the internet that offers that kind of payment/transaction flexibility).

How to SignUp/Register on Paxful.com:

The Paxful account creation process is super simple! And you’ll be up and running in no time! Here are the steps you need to follow to create a Paxful account;

  • Step 1: Visit Paxful’s official website at Paxful.com
  • Step 2: Click on the ‘Create Account’ button on the Upper right-hand corner of the Menu header
  • Step 3: Fill-in the Simple SignUp form pop-up window with the following information; Your Email, Choose a Username, and a strong Password. Then check/tick the ‘I’m not a robot’ Captcha box, and hit the orange ‘Create Account & Free Wallet’ button.

Congratulations!  You’ve just simultaneously created a new Paxful account and Free Bitcoin Wallet.

Now,… You need to verify your newly created Paxful account by verifying your Email and your Mobile phone number.

To verify your Email address, you’ll need to Log into the email you submitted during your account registration – Open the verification email sent by Paxful, and Click on the verification Link or button there.

To verify your Paxful Mobile phone number, Click on the settings ‘Gear icon’ on the upper right-hand side of your newly-created Paxful account. It will open up your account’s Profile settings Page.

Upload your Profile picture/avatar, and Enter your Mobile Phone number in the provided field… Next, Choose from the two available options whether to receive your Mobile phone verification number via Call or Text.

After you’ve received the Mobile phone verification Code, Type the verification Code into the box provided on the same Profile settings Page and then hit ‘Submit’.

Great job! You’ve just taken one of the first steps in securing your Paxful account and Wallet. Checkout other necessary steps involved in further tightening the security of your Paxful account and Wallet from any future unauthorized access and/or hack. 

Now that you have created a Paxful account/wallet, what are you waiting for?… You can start trading on the incredible platform! (i.e., buying and selling bitcoin).

How to Buy Bitcoins on Paxful.com:

Follow these simple tips everything will go even faster and easier.

  1. Find a Vendor with Good Reputation. A vendor’s reputation is displayed in green with a + before it. For example +1305 -1 means they have +1305 good feedbacks from buyers and only 1 negative. Anyone with over +200 feedback is ok but if you can find a verified vendor with this black seal then, that is best! Look for VERIFIED Seller with this seal.

  2. READ the TERMS of the offer before  you start the order, always! Vendors should mention what they expect and what you will need to provide. For example, for gift cards, many vendors REQUIRE a receipt showing it was bought with cash. If they ask for this and you cannot provide it then it is better not dealing with them and looking for someone else. If you agree then make sure you have everything ready like the gift card with receipt in hand BEFORE you start the order.
  3. Be Aware of the PRICE. Buying bitcoins is never 1 to 1. Vendors charge a fee to convert a gift card or cash into bitcoin. The price depends on who you buy from. It always tells you the price before you start the order so don’t be surprised if your $25.00 gift card gets you $20 or less in bitcoins. For a better price try cash or bank deposits.
  4. Read the instructions. First, click on INFO (at the bottom of the screen on mobile) and then read the instructions, they are also printed out at the very beginning of the chat. Try reading them first and if you need help just ask in the chat.
  5. Click I have read the instructions and Paid button ONLY when you have actually paid. This stops the countdown timer and the order from expiring. This is important because if you sent the vendor the payment info such as a gift card code and the offer expires then the escrow is released and your bitcoins are gone. If the vendor is not 100% honest or forgets then you may not get your bitcoins so be sure to click the blue Paid button once you have actually paid. If you click it and you have not paid or followed instructions then the vendor may think you are a coinlocker harassing or a competitor trying to lock up his funds.
  6. No Brokering Gift Card Codes: Brokering is when you buy a gift card code from someone thinking you can sell them later. Even if you checked the code when you bought it the person who sold you the code anytime without your knowledge and this is why it is against the Paxful TOS.  If you keep trying to give vendors bad codes you will be reported and this can get you banned, not to mention waste your time and others. Only use gift cards you have bought yourself.
  7. Only trade FOR THE WHOLE AMOUNT OF THE GIFT CARD! IF you have $50 gift card you cannot trade for $33, you must trade for $50! Remember this as the way redeeming gift cards work the vendor can only take the whole amount so if you start an order for $33 and he takes $50 then the only way to get the rest back in bitcoin is by starting a new trade for the difference. Vendors ranges may not meet that amount or the vendor may take down his offers or go offline so don’t make this mistake.
  8. NEVER ask the vendor to release the bitcoins first. This is grounds for an instant ban as it screams scammer. The escrow is there so you know the bitcoins are there and waiting for you until you complete payment.
  9. Be polite: Vendors go through a lot of tough customers and being polite can save you a lot of time. Being polite is about a lot more than your language it is about following their instructions as well and if there is a dispute the moderator will take language into account.
  10. Not Interested? Cancel!! if you are no longer interested and have not yet paid the vendor. It will free up their escrow and let them continue to trade with others. This is good manners. If you do not do this the vendor will have to file a dispute or report you and you may get negative feedback. You can see your active open trades on your dashboard. Click chat and go in and cancel them by clicking on ACTIONS ( at the bottom on mobile) and then click the red Cancel button.

How to Sell Bitcoin on Paxful.com:

In this tutorial we are going to explain the benefits, risks and an overall step-by-step guide on how to sell bitcoins through Paxful. We have made this guide to help you better understand the process involved and make you aware of some risks that you may face when selling your bitcoin on the site.

If used correctly we believe you have a lot to gain by using our website. We have accounts that are managing to make reasonable profits by using our platform and it is in our best interest to keep you informed on how you too can gain from it.

Your Personal Bitcoin Wallet

Before you can start selling through Paxful, you must first top up your account with some bitcoins. To do this, please first log into the site then proceed to the link at the top, labeled as “Wallet”:

Wallet Balance & Address

Once you have clicked on this link and the page loads the content, you should see your balance, some other buttons and also your personal bitcoin address:

If you are unsure about any of this, please click on “HELP USING WALLET” button. This will take through the page to help you better understand the different parts of the page. If you believe you would like to go through this process, please take a few seconds and run through the help tutorial. You can also access your wallet to send bitcoins from to any other bitcoin address.

Deposit & Wallet Address

On this page you will also see a section that contains your bitcoin address. You can copy the address by using the button – as shown in the image – or by simply highlighting the wallet address and copying it manually. This address can be used to receive bitcoins from anywhere in the world. Think of it as your personal bank account number. Though unlike bank accounts, you can generate a new address every single time you want to receive more bitcoins.

Generate New Address (Optional):

If you do want to generate a new address – some people do this for better privacy or for personal record keeping purposes – then click on the down arrow next to “Copy address” then proceed to “Generate new address”.

Transactions & Addresses:

Below this section you will find another section outlining your transactions (buy/sell) and addresses you have used to receive bitcoins. You can explore these further once you have made a few transactions and/or received bitcoins to your account.

Transactions & Addresses:

Once you receive your bitcoin, you will get a both an email and website notification to confirm that your bitcoin has come through.

You are now ready to start selling!

You can now go to the SELL BITCOIN section by clicking on the down arrow/tab on the BUY BITCOIN button.

In this tutorial we are going to explain the benefits, risks and an overall step-by-step guide on how to sell bitcoins through Paxful. We have made this guide to help you better understand the process involved and make you aware of some risks that you may face when selling your bitcoin on the site.

Your Personal Bitcoin Wallet:

Before you can start selling through Paxful, you must first top up your account with some bitcoins. To do this, please first log into the site then proceed to the link at the top, labeled as “Wallet”:

Wallet Balance & Address:

Once you have clicked on this link and the page loads the content, you should see your balance, some other buttons and also your personal bitcoin address:

If you are unsure about any of this, please click on “HELP USING WALLET” button. This will take through the page to help you better understand the different parts of the page. If you believe you would like to go through this process, please take a few seconds and run through the help tutorial. You can also access your wallet to send bitcoins from to any other bitcoin address.

Deposit & Wallet Address:

On this page you will also see a section that contains your bitcoin address. You can copy the address by using the button – as shown in the image – or by simply highlighting the wallet address and copying it manually. This address can be used to receive bitcoins from anywhere in the world. Think of it as your personal bank account number. Though unlike bank accounts, you can generate a new address every single time you want to receive more bitcoins.

Generate New Address (Optional)

If you do want to generate a new address – some people do this for better privacy or for personal record keeping purposes – then click on the down arrow next to “Copy address” then proceed to “Generate new address”.

How To Detect Scams On Paxful:

It is important to be on guard against scammers, and learn how to protect your
digital assets.
 
With that being said, here are a few scenarios to look out for when buying bitcoins on Paxful.
 
Buying Bitcoin Case 1: What to do if the vendor ask to cancel the trade after you’ve already paid.
 
Let’s say you started a trade, but the vendor suddenly asks you to cancel it after you’ve made your payment. What do you do?
 
This usually happens when you’re paying with a gift card, and have just uploaded its details.
 
Typically, the vendor will ask you to call off the trade once you’ve completed your end of the bargain.
 
First things first, do not cancel the trade once you have paid. Canceling the trade for whatever reason allows the vendor to keep your gift card details, and the Bitcoin will be released from escrow and return to them!
 
Instead, click ‘mark as paid’, and open a dispute. The moderators will investigate the trade, and award the Bitcoin to whoever is in the right.
 
Also, make sure that your vendor is online and responsive, before uploading any documents and making any payments.
 
Case number 2: What to do if a Vendor asks you to trade outside of Paxful’s escrow-guaranteed platform.
 
You encounter an offer that seems too good to be true, and the vendor asks you to trade off of Paxful website. What do you do?
 
Paxful’s escrow system acts as a third-party that holds the vendors bitcoin until all the trade requirements are met. This serves as a reliable protection for both buyers and sellers.
 
The best thing to do is to never trade off of escrow. If you trade outside of Paxful-guaranteed escrow platform, there are no guarantees that the vendor will send you the payment. Plus, Paxful’s team will be unable to help ensure the safety of your Bitcoin and personal information.
 
When you transact outside of Paxful, and you encounter vendors like this, please report them immediately, and notify a Paxful moderator right away. These are just a few ways to detect and combat scams when buying bitcoins on Paxful.

Paxful is a bitcoin peer-to-peer finance platform and is registered company with its headquarters located in Wilmington Delaware, United States of America.

It’s important to note Paxful is the fewest if not the only bitcoin peer-to-peer marketplace that is actually registered with FinCEN which is the financial crimes enforcement network that allows paxful to have the MSB license.

Paxful allows users to trade Bitcoin with literally over 300 types of payment methods which includes western union pc vouchers credit cards amazon gift cards Walmart gift cards bank transfers and various other e-wallets like Skrill, Transferwise, Payer, and the list really does go on I’m literally getting out of breath right now paxful was founded in 2015 by CEO Ray Youssef and co-founder Artur Schaback

Paxful boasts of an incredible user base of over 3 million people which accounts for billions in global trading volume this makes Paxful the leader in this industry when it comes to bitcoin paid repair marketplaces make no mistake about that paxful is starting to ring bells across the crypto space and has recently partnered up with Binance the leading cryptocurrency exchange in the world and I’ll tell you something right now if CZ, the CEO of Binance sees something in this platform, then it must be worth something because everything that man touches turns into gold straight up!

Now, in order to execute a trade on Paxful you will need to set an offer for example if you are selling bitcoin in exchange for I don’t know maybe a pc voucher you must state the requirements the buyer must follow in accordance to your trade terms for example you may state in your terms paid with cash only physical gift cards only and receipt is required you can also set the price of bitcoin to whatever you feel comfortable or whatever you think you want to sell for for example if you are trading BTC for PC of cards and you set an offer for around 70 cents on the dollar you are now making roughly 29.5 on this one trade.

And these fees do vary depending on which market you are trading roughly point five percent to about five percent in fees but once your offer slash ad is live interested buyers will then enter something called a trade chat which is supported by escrow service this escrow holds the money by a third party which is obviously paxful. In this case, on behalf of the transacting parties which is the seller of the bitcoin, and the potential buyer of the bitcoin this way if there are any disputes or conflicts with the trade Paxful can intervene and award the rightful owner his or her BTC ensuring a safe trading environment traders of this platform go through some pretty decent bitcoin volume ranging anywhere from 1 BTC to 10 BTC or les and power traders boast volumes ranging from 1 000 units of bitcoin to 2 000 units of bitcoin and in some cases much more volume than that so clearly people are taking advantage of the services paxful offers.

I’m very pleased and thrilled to announce that Paxful is the first ever entity or company to build not one but two schools ladies and gentlemen solely funded by bitcoin and not cash, or fiat they are actually in the process of building a third school and the long-term goal is to build 100 schools across africa by doing this Ray Youssef, the CEO of Paxful is using bitcoin to put goodwill back into the parts of the world that needs these resources the most and that’s something I have to admit I really appreciate and admire of Mr. Youssef.

How To Make Money on Paxful Trading

Hey what’s going on guys great btc here and you’re watching hardcore crypto yo remember you already know the rules first things first make sure you hit that like button and the subscribe button because my goal right now is to hit 50000 subscribers and you guys have the power to help me achieve that goal and it costs you zero money and i give you value by uh you know telling you something that i figured out in my own personal life so today i just wanted to make an update on uh paxful i haven’t made packs for videos in a while because i just thought that i’ve made enough content on paxful and anybody can really get on and really get started with their tax-free journey out there but the most important thing is that I need i just need to i just need to make a uh a new video about it and tell you guys how it’s going on the streets of pattsville so for me patrol has been very fantastic uh for the first half of the of 2020 we just passed half now but you know right now it’s still great cryptocurrency is growing worldwide there’s more demand in cryptocurrency especially now that everything is going online you know people are waking up to the idea that hey cryptocurrencies are actually very useful so my trades you know my trading volume has grown and you know the the things really the game of on password really never changes and a lot of you guys have password accounts that you just signed up you never verified you never really um even try to deposit a little bit of money to test how it works you know to download the app and all that and that’s why you might think that you know you just you have it in your mind that you just don’t believe that p2p trading works but it’s really a great opportunity it doesn’t require charts or you to be an expert i’m saying this to anyone who’s watching this for the first time you don’t know what pax who is all about or p2p trading is basically it’s just a way of trading where you’re selling you’re buying bitcoin from a different market can be an exchange and you sell it to other people uh through a platform called Paxful so one thing that i’ve identified i’ve said this before in some of my videos is that if you’re trying to be successful in p2p right your game is never to uh to try to you know to have a very wide market not really right you start in your market in whatever country you’re in and you’ll find very special and specific payment options that a lot of people actually use in that area but are not popular elsewhere right so if you’re in an area where bank accounts are not popular right you need to figure out what works in that area is it mobile money is it um whatever is gift cards speaking of gift cards packs for recently just actually launched a feature on their platform that helps you to verify gift cards before you make a trade there used to be a lot of scamming and uh happening a lot of scammers when people were trying to trade gift cards right and now paxo i think have have added a feature that helps you to that helps you or that protects you from that so there’s an article that i’ll put in the link in link in the description to really show you guys exactly how it works but what i was trying to say was that the most important thing with p2p trading is make sure you just become you dominate a market right in whatever country you’re in make sure you become the best trader in that market and you know what you might not have thousands of buyers or hundreds of buyers or sell or sellers but you’re just going to become that one person that has maybe 20 or 30 reliable trade people you trade with and those people are never going to trade with anyone else will always come to you and that comes from customer service you know jeff bezos always stress about customer service right wherever you’re servicing in your area to dominate that place you need to make sure you’re offering the best service you’re making it easy for people to buy from you uh you also have multiple payment methods uh going going on and for some of you maybe liquidity can be the problem where do you buy the bitcoin in your country and in areas where there’s less liquidity prices are higher so your challenge is really to just make sure you become the one person who really figures out uh how to get bitcoin is easy right you just you become the the plug for the bitcoin you’re the one who has all the bitcoin you know how to go into other platforms to actually you can go on okay x even got on finance whatever exchange that you use to convert your cryptocurrency into other cryptos so that you know if people want ethereum you’ll be able to sell it to them and if you’re a guy who is trader or lady who is trading price action with the charts and stuff you need to diversify your trading you know trading is diverse so you don’t have to rely on one model i always say this before i trade multiple strategies so if p2p didn’t work out for me today it didn’t bring a lot of customers well maybe it was a good day in the in the otc market if otc didn’t work maybe it was a good day in derivatives if derivatives did work it was a good day in spot trading right so you need to have you know multiple ways to trade and multiple accounts on different exchanges and i have an article about this on crypto university but also i have i have a a a module on my trading course on crypto university dot us where which actually shows you step by step how to uh how to get into pack school and how to become a successful trader i have a full-on dedicated course to this so you guys can go there and check it out but also you can see my other videos on the subject and if you want to start your own bitcoin business especially in these difficult times where everything is now sort of weird and people don’t know what to do you don’t have business ideas here’s one you can become a bitcoin trader bitcoin seller buy and seller or you become the person who help people with cryptocurrencies right so i hope you guys picked up something from this video i just wanted to share what’s going on in that market personally for me you know it’s still a successful model for me it works um the most important thing like i said make sure you dominate a market in in the in that space in whatever city or country you’re in but also you don’t become too greedy a lot of people complain about scams or tax food or they get their their excuse me they get their accounts frozen or they they their fans hold uh with hold on on pattern the real deal man is that you you need to make sure that you don’t you’re not too greedy and allowing anyone to trade with you you need to have strict regulations you need to say if you don’t have your phone number verified i’m not going to trade with you you can filter all these things and password if you don’t have id verified don’t trade with those people right if someone is trying to buy from you but they’re not in the country that you’re in they’re contacting you from another weird country you know that is a red flag you need to investigate what’s going on ask them hard questions right tell them if they if it’s a bank transfer you know what i do i give people a very strict way on how i i trade with them I tell them okay if you’re sending me a bank deposit bank transfer you need to use this reference number or reference phrase if they’re unable to do that i know that you know something is weird with this guy so you know be very strict be direct to people don’t be too polite also if you want to eliminate scammers in your trade as long as you’re offering the best service i’m telling you you will be profitable so i hope i’m done ranting or sharing my views i just wanted to make an update that your pax was still the real deal if you want to sign up with Paxful the link is in the description to get started is easy get it get in the link in this in the description sign up and deposit a little bit of money on tax we can deposit 50 hundred dollars whatever you want to do just to start and chillax and you’ll see people start hitting you up in a trade setting to come like hey i want to buy x amount of money i wanna buy this i wanna buy that and then you’ll be successful as well otherwise peace and thank you for watching like the video and subscribe i’ll see you in the next video peace

 

 

Post Title: How To Buy And Sell Bitcoin on Paxful | Paxful Review

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