Are you a crypto investor searching for a reliable platform to buy and sell Bitcoin? This article aims to introduce you to Paxful, a platform that is rich with over 350 methods to buy and sell Bitcoins. Apart from Bitcoins, you can also buy and sell Tether and Ethereum on the platform.
With Paxful, you can buy Bitcoins from real people and sell Bitcoins at the required rate. You have a say on the payment method you would like to use. The whole transactions are secured through escrow accounts.
On Paxful, the platform’s inbuilt feedback system highlights reliable, trustworthy users, so you can trade with complete satisfaction. Paxful also provides a free wallet.
How Does Paxful Ascertain Security?
Paxful, like any other crypto trading platform, is very particular about the security measures that it provides. To ensure security, Paxful will only authorize a user after several verification procedures.
The traders are also responsible for trading only after ascertaining the identity of the person they are trading with.
For instance, Paxful has a trading platform called Trade Lite, which can be used by traders who use PayPal for payment.
In Trade Lite, the traders are not allowed to chat with each other. Rather, there are other means of ascertaining identity such as a selfie of the trader with their identity card or a receipt for confirmation of the payment or transfer.
Another means of ensuring safety on the Paxful platform is trading with users who have positive feedback during their previous transactions.
The veteran traders can be identified based on the badges they have received such as Corporate Account, Expert Trader, Peer, or Power Trader. They will also have a checkmark on their profile with the words “Trusted”.
Paxful trades through an escrow account. That means the payment you make and the asset you intend to buy are locked in an escrow account and are transferred to each other simultaneously.
This prevents the buyer from leaving the platform without making the payment or the seller from transferring the assets after receiving the payment.
Paxful also uses two-factor authentication (2FA) to double-check the identity of the traders. The platform gives you paper receipts for the transactions that you can keep as a piece of evidence to solve any future disputes.
The Popular Methods of Trade in Paxful
As mentioned before, Paxful provides about 350 methods to make transactions on the platform. The most common methods used to buy and sell Bitcoin on Paxful are listed here.
- Bank transfer
- Online wallets
- Debit/credit cards
- Gift cards
- Digital currencies
- Cash Payment
- Goods and services
The Steps Involved in Conducting Transactions on Paxful
The first step is to create your account. Account creation is very simple. You only need to go to the homepage and register with the required details.
The platform will require you to verify your phone number and email ID to ensure authenticity.
After account creation, you can move straightaway to buy Bitcoins. Choose Bitcoin or any other listed cryptocurrency as per your choice.
Now, check if there are any offers available. The criteria for choosing offers are seller availability, feedback score, offer description, badges owned by the seller, and sale price compared to the market price.
After you decide on the offer, you can initiate the transaction straight away. Make all the transactions as per the instructions given. After the transaction is successfully commissioned, leave feedback for the seller.
How to Emerge as a Trusted Seller on Paxful by Creating Offers?
The most important means of ensuring your credibility as a seller on Paxful is by providing offers. You can easily create an offer on the platform’s homepage.
You should select whether you would like to base your offer on the market price or sell it at a fixed price, offer margins, tags, labels, and terms, include trade instructions, and list the limitations of trading with you.
Conclusion
Paxful is an easy and viable platform to buy cryptocurrencies, primarily bitcoins. The ease of conducting business on the platform and the myriad of payment options will make Paxful a major contender in the Bitcoin trading platform.
