Paxful is a P2P Cryptocurrency Marketplace that allows people to buy or sell bitcoins online. Bitcoins are starting to gain acceptance worldwide as a currency that people can use to make their daily purchases with. The Paxful exchange offers everyone over 300 different payment options they can use to buy bitcoins through their exchange. Furthermore, if you’re a business and looking to offer an option to buy your products online using bitcoins the Paxful exchange has a plan just for you. They make it easy for merchants to now accept bitcoins when a customer checks out.
What Type of Currency Can You Use?
You can use Fiat Currencies for:
- +50 more currencies are available that you can use in the exchange.
You can make your deposits using:
- Credit Cards
- Debit Cards
- Perfect Money
- Western Union
- A variety of gift cards such as Amazon and OneVanilla.
As a buyer, you won’t pay any transaction fees if you use the Paxful services. Instead, the seller is the one who will pay the fees to the company. Each seller will pay a 1% transaction fee each time they sell BTC in the marketplace.
When using this exchange it is necessary to pay attention to the exchange rate. Even though Bitcoins are decentralized currency the currency is still affected by government regulations and the different trends in the market. Believe it or not, the BTC will fluctuate more dramatically than other currencies on the market today. The site will update the rates as often as they can so each person knows the different rates. They keep this updated online so it makes it easier for buyers to make a decision to purchase the coins now or wait until the rates change again.
When using the exchange to buy your BTC it is important to pay close attention to the sellers' price they are asking for the coins they are selling. Normally this is based on the mid-market rate. The seller will determine how much they want to sell their coins for.
What Are The Supported Transactions?
You will need a Paxful e-wallet because all the transactions in the marketplace are digital currency. If you don’t have a Paxful e-wallet it is necessary to sign up for one before using the exchange.
You’ll need to add money to your account and this can be done in more than 300 different ways. You can make your deposit to the exchange using a bank transfer, deposit cash into your account, use a debit card or even a credit card, they accept different gift cards, or even transfer funds from a different e-wallet to your account. They have over 300 different options for you to choose from so this makes it easy for you to fund your account.
How Can You Buy Bitcoins?
- You’ll need to register for an account with Paxful first.
- Create your Paxful e-wallet next.
- Once this has been completed, all you need to do is enter the amount of money you wish to spend to buy BTC.
- Now fund your account. Like I said before this one shouldn’t be too hard because they have over 300 options for you to choose from.
- Now start looking at all the sellers in the marketplace. You’ll need to start comparing the seller rates in order to find the best rates possible for you. Each seller has their own rates that they are selling the BTC at.
- Once you’ve found the seller, you want to buy the BTC from, all you need to do is start a live chat with this seller. During the chat, you will come to terms with their agreement to purchase the BTC they are selling. You will work out all the details using live chat before you make your purchase.
- Once the transaction is completed the coins are deposited to your Paxful e-wallet.
Do you think this is a good exchange to use to buy BTC?
They charge a seller a 1% transaction fee, do you feel this is a good fee or do you feel it is too high of a fee to pay?