Want to learn how Paxful works? In the step-by-step guide below you can exactly how to buy Bitcoins using the popular P2P Bitcoin exchange Paxful.
What is Paxful?
Paxful is Bitcoin exchange that connects people who want to trade national currencies for Bitcoin. It’s a popular alternative to Local Bitcoins. One of the reasons for Paxful’s popularity is the wide range of payment methods it accepts. These include:
- Amazon Gift Card
- Western Union
- All Credit & Debit Card
- OneVanilla Gift Card
How Paxful Works
Step One: Login To Your Account
First you will need to login into your account. This is done by clicking on the button at the top of the screen. If you don’t have an account click on the Create Account button.
Step Two: Buy Bitcoins
Next click on the green Buy Bitcoin button on the top navigation menu.
Step Three: Choose The Amount and Currency
Choose the amount that you want to spend in your national currency by entering it into the box. Next select your currency from the drop down menu.
Step Four: Select Payment Method
Choose the payment method that you want to use from the options available.
Step Five: Search Sellers Or Choose Best Offer
You can either have Paxful choose the best offer for you or you can choose to search the sellers for that payment method.
Step Five: Choose A Seller
If you choose search then you will now be shown all of the Bitcoin sellers for the type of payment method that you have selected. This includes:
- Sellers username
- Feedback for that seller
- Minimum and maximum that they will trade
- The amount of Bitcoin you will receive for your trade
Choose the seller that looks good to you and click on the buy button next to their information.
Step Six: Review Terms Of Sale
You will now be provided with the sales page which list all of the terms of sale. This will include the minimum and maximum you can trade with this seller and the rate between your national currency and Bitcoins. You will also see what ID is required for the trade. On the left side of the screen you can see the feedback that the seller has received. The seller will also have instructions of their conditions for the trade.
Once you read through the seller terms click on the text at the bottom of the screen which says
“Do you accept offer terms? Click to buy bitcoins now”
Step Seven: Complete Your Trade
You will now need to upload any documentation required for the trade to Paxful. There is also a chat option where you can talk with the seller while you are conducting your trade.
Follow the instructions provided by the Bitcoin seller. Once you have send the seller the required funds in your national currency, they will transfer your Bitcoins to your Paxful Bitcoin wallet.
Now that you have completed your trade you can move the Bitcoins from your Paxful wallet to whichever Bitcoin wallet your prefer.