Are you aware what’s difficult? Changing your fiat into cryptocurrency and vice versa. 

If you happen to’re American, you should buy bitcoin with 1 click on utilizing Coinbase.

How about shopping for bitcoin anonymously?

Let me introduce you to Paxful, which is a well-liked P2P trade platform.

Paxful permits you to purchase bitcoin, hassle-free. The web site is just like the “eBay of cryptocurrency”. The platform connects you to different folks, who want to purchase or promote cryptocurrency. Thus, you’ll be able to store round and discover the very best worth.

Utilizing Paxful is simple, that’s why the platform is standard. 

  • Is Paxful secure to make use of?
  • How safe is it?
  • Who’s behind Paxful?

On this evaluation of Paxful platform, I’ll reply your most urgent questions and extra. Let’s examine … 

The workforce behind Paxful 

The founding father of Paxful.com. Say one thing good about him.

Right here’s an image of the founder. When there are faces behind the corporate, it makes me really feel extra secure utilizing them. I’ve names in case I have to report Paxful to the police (I’m kidding!)

Paxful was based in 2015 by Ray Youssef and Artur Schaback. I did a little bit of digging round LinkedIn and right here’s what I discovered ….

Ray Youssef is the CEO and he was an ex software program engineer. Artur Schaback, the co-founder of Paxful, was the founding father of Kaizern, a software program firm that specialised in blockchain app improvement. 

Earlier than Paxful.com, Paxful was concerned within the bitcoin ATM trade. Additionally they personal Netcoins.app

In line with their web site, they’ve places of work in New York Metropolis, Hong Kong, Manila, and Talllin. Good! 

Okay, sounds nice. However why must you use Paxful as an alternative of Binance? Good query. 

Paxful differs from Binance in some ways. 

How helpful is Paxful? Examples …

It’s Christmas and your family members are visiting; they’re gorging themselves on turkey and baked beans. 

“Glad Christmas, sonny boy! Listed below are some reward playing cards and sweaters for you!” says Uncle Jim, half drunk.

He arms you a fistful of reward playing cards. 

However you need money and crypto, not some ineffective reward playing cards to purchase extra pizza. You wish to stack your bitcoins and retire on a personal island earlier than your 30th birthday. 

Think about one other state of affairs: 

An African man in Japan must ship a refund house to Africa however he doesn’t wish to pay the outrageous 8% remittance price. Is there one other various?

Oh! Right here comes Paxful: you’ll be able to trade your reward playing cards for crypto. Or you’ll be able to promote Japanese fiat to purchase crypto and ship the cash house (and bypass the outrageous 8% remittance charges)

(What I particularly like about Paxful is that you may promote “obscure” Giftcards like Chili restaurant reward card and Without end 21 reward playing cards. It’s like they’ve the entire reward card market coated!)

You are able to do money in individual, money by mail, cashier’s verify, Cash Gram, Bitcoin ATM. Wow! 

Hmm, that sounds great. What concerning the course of of shopping for crypto on Paxful? How does that work? 

I’m glad you requested as a result of I’ll stroll you thru the method … 

How one can purchase and promote on Paxful?

At all times commerce with a service provider that has a excessive buyer suggestions

You should purchase crypto on Paxful in Three easy steps:

  1. You see a vendor you want, begin a commerce
  2. You ship the fee and wait
  3. The vendor sends you the crypto

How are you aware that the vendor gained’t run away together with your crypto? 

Paxful acts as an escrow, which ensures the security for you and the vendor. 

Observe: Paxful isn’t going to reimburse you when you’re doing enterprise with a scammer. At all times take precautions! (I’ll offer you some suggestions under) 

When the commerce is profitable, go away the person a score and remark. And inform the vendor to do the identical for you. In any case, the suggestions is a testimonial. 

The higher your repute, the simpler the commerce. Individuals belief you extra as a result of your account has a superb repute.

Buying and selling on Paxful is straightforward and streamlined. 

However wait, there’s extra! I’ll discuss concerning the charges, find out how to bitcoin anonymously, and precautions it’s best to take when buying and selling. 

What are the charges like?

If you happen to’re shopping for, I’ve excellent news for you. It price you $Zero charges to purchase as a result of the burden is on the vendor. 

If you happen to’re shopping for bitcoin utilizing financial institution switch, bank card, on-line wallets, money, or reward playing cards then there aren’t any charges (nonetheless, the financial institution will cost you a service price, gained’t they …) 

Nonetheless, when you’re going to make use of a debit card to straight purchase bitcoin then the price goes to be larger. I’d suggest to you one other website like CEX or Coinmama when you’re shopping for utilizing debit straight.

What when you’re promoting on Paxful?

There’s a price.

Nonetheless, when you’re the vendor, then the charges vary from 0.5% – 5%. Debit playing cards, money, and on-line pockets are 1% price and reward playing cards vary from 3-5%. 

You may view the charges right here

Right here’s one other vital query …

What about ID? Might you purchase bitcoin anonymously?

You should use money and reward playing cards to purchase BTC anonymously.

Paxful gained’t ask you for ID in case you have a tier 1 account. And when you’re shopping for BTC with reward playing cards, the service provider gained’t ask for ID. Nonetheless, when you’re utilizing financial institution switch then some retailers would require ID.

If you wish to purchase anonymously, you’ll be able to at all times meet the individual at your native espresso store and trade cash — “Hey! Right here’s my money. Now gimme some cash please …”

Is Paxful safe? 

Paxful hasn’t been hacked. 

On the subject of safety, it’s worthwhile to hold your account safe. This implies having a superb password and utilizing 2FA. 

The theft case in Paxful is minimal and there’s 24/7 customer support on the web site, must you want any assist. 

Warning! Take these precautions when shopping for or promoting

Solely do enterprise with retailers which have good feedbacks!

The #1 downside is coping with the service provider. 

It’s essential to solely do enterprise with individuals who have a excessive score. This implies the account is aged and has loads of optimistic buyer suggestions. 

What when you ship the cash however the individual doesn’t you the bitcoin? You may open a dispute and a moderator will look into the case. Hopefully, you gained’t must dispute. 

Oh yeah, there have been instances of Paxful freezing clients’ accounts. You shouldn’t go away your bitcoin on Paxful’s pockets. Because the previous saying goes “not your pockets, not your bitcoin.” 

Stop your account from getting hacked! 

Hackers have hacked into Paxful accounts and bought them in the dead of night market.

Observe: Paxful.com wasn’t hacked. As a substitute, the hackers tricked the customers into giving their usernames and passwords by way of phishing assault.

So that you wish to ensure your account is secure with 2FA (2 Issue Authentication). You additionally want a powerful and safe password. If doable, use Linux or macOS as an alternative of Home windows. 

Aspect notice: I’ve heard tales of Paxful locking an account. However as a result of the algorithm flags your account for being suspicious. For instance, utilizing Paxful to launder cash or your account has too many disputes. 

If you happen to’re utilizing Paxful to solely purchase bitcoin, you have to be advantageous. 

The #1 rip-off to be careful for

If you happen to’re promoting crypto on Paxful, it’s worthwhile to be careful for scams.  

What’s a standard rip-off?

Somebody sells you a present card however the card is already redeemed. Ouch. Keep away from complications by solely doing enterprise with well-established accounts. 

Rigorously choose who you’re doing enterprise or else you’ll remorse it. 

What do I like about Paxful? 

Paxful makes shopping for crypto simple. Furthermore, promoting reward playing cards for bitcoin is superior. Additionally, the charges are cheap. 

The web site is intuitive to make use of, and the person interface design is aesthetic. Paxful seems to be fashionable, in contrast to different web sites that look historic.

Sure, I’m you, Localbitcoins.com 

Customer support is there when you need assistance. There are moderators to deal with disputes. The service provider doesn’t ship your bitcoin? No downside, simply summon a moderator. 

I’m a veteran within the crypto house and I’ve observed the shift: folks utilizing Paxful as an alternative of Localbitcoin. Maybe it’s as a result of Localbitcoin has did not innovate. 

Paxful makes it really easy and safe to purchase crypto. Sure, I’m proud of their service. 

There isn’t a nation restriction on Paxful. For instance, when you’re American, you’ll be able to’t commerce on among the finest crypto exchanges like Binance Nonetheless, since Paxful is a P2P trade, you’re free to commerce to your coronary heart’s content material. That’s what I name freedom! 

The ultimate verdict on Paxful

In my analysis, Paxful appears legit.

As of 2020, Paxful continues to be on the rise. 220,000 guests a month attain the positioning, in order that they’re doing one thing proper. Shopping for crypto on the positioning is a simple and satisfying expertise.

Paxful is a authorized firm: they’ve four totally different places of work on Three continents and are a registered firm with the face of the CEO on the corporate’s web site.

Go to Paxful

I’ve tried discovering scandals or detrimental opinions in opposition to Paxful and it’s largely about customers that complain about locked accounts (they’re doing fishy issues with the accounts, that’s why they’re locked out) 

Paxful is just not a rip-off. However be careful for scammers on Paxful and it’s best to do okay. 🙂 

Have you ever used Paxful earlier than? What was your expertise like? What do you concentrate on it? Go away your ideas within the remark field under. 

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