What is Paxful?
Paxful is a decentralized exchange (P2P) that allows buyers and sellers to meet online and trade Bitcoin. Similar to LocalBitcoins or Remitano, Paxful allows a wide range of payment methods and buying options not found on traditional exchanges.
Founded in 2014 by Ray Youssef and Artur Schaback, originally named EasyBitz, later changed to Paxful. Currently operating globally with the main markets being the US, Kenya, China, Brazil and India with a combined total of more than 3.6 million monthly visits.
Paxful aims to be the Uber of the Bitcoin community. Paxful allows individuals to become merchants and sell Bitcoins online, similar to how eBay allows people to sell goods.
Here’s how to create a Paxful account and trade on it.
How to sign up for a Paxful account?
To register a new Paxful account we need to follow these steps:
1. Open a web browser and launch the Paxful website: https://www.paxful.com.
2. Click “Create Account” in the top right corner of the main page.
3. Note the following steps on the registration form:
|Enter email||Emails can only be changed within the first 7 days and only in case of typos.|
|Password||Enter a strong password||Your new password must:
At least 6 characters long
There is a lowercase character
There is a special character (@# *, etc.)
There is a capital letter
|Code||Referral code||GzYvAzvNbdA (you will be rewarded with 10% commission discount).|
Complete your captcha verification.
An activation email will be sent to your email address.
Go to your inbox, open an email from email@example.com and click “confirm email” to activate your account.
If you don’t see the email in your inbox, you can either look in your spam email or go back to your account and resend the email again.
After confirming the email, your account has been successfully registered.
Finally, you go to the settings and perform the ID and KYC verification steps as required by the exchange.
You need to take a photo of the front and back of your citizen ID, passport or driver’s license to verify your account.
Wait a few days for Paxful to authenticate, after successful you can proceed with the transaction. Before trading, compare prices with other exchanges to save costs.
How to buy Bitcoin on Paxful?
Step 1: Search
1. Log in to your Paxful account and click Buy Bitcoin.
2. Click Show all or any payment method field and select your preferred payment method to buy bitcoin on the dialog box that appears.
You follow the instructions of the red circled boxes and make the payment.
Enter the amount you are ready to trade in the Fiat currency field or BTC field. Click BUY NOW.
Merchant releases BTC from trading escrow to your Paxful wallet. The transaction is completed successfully.
As for selling Bitcoin, you go to “sell bitcoin” and do the same with “buy bitcoin”.
Paxful is an exchange based in the US, with high reliability and security, liquidity and reasonable price, this is a remarkable alternative to popular exchanges today. in Vietnam. Good luck with your trading.
Dislaimer: This information is provided as a personal blog, not general information or investment advice. We are not responsible for your investment decisions.
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