Tuesday, June 28, 2022

How To Sell Bitcoin On Paxful

How To Write Good Offer Terms

How to sell Bitcoin on paxful

Your offer term might decide whether a buyer will push through with your transaction or not. Here are some tips:

  • Offer tags. These are keywords that buyers will immediately understand. For example: ID required, cash only, receipt required.
  • Create short and concise descriptions. This is how you will describe how the buyer can pay you. Some examples include:
  • For PayPal: Your PayPal account must be verified.
  • For Western Union: Cash Payments only.
  • For Gcash: Your GCash account name should match your name on Paxful.
  • My Personal Experience With Paxful

    Two things I love about Paxful are:

  • Multiple payment methods that include Debit/credit card payment option, online bank transfer, USSD code bank transfer, MoneyGram, Western Union, Paxum, Paypal, Amazon, OkPay, Payza, Walmart, Reloadit, Perfect Money, WebMoney, Google Wallet, BlueBird, Serve, Square Cash, NetSpend, Chase QuickPay, Skrill, Vanilla, MyVanilla, OneVanilla, Neteller, Venmo .
  • Secured escrow
  • Rules For Selling Bitcoin On Paxful

  • 9 Overall
  • As a P2P marketplace, Paxful provides an escrow to protect both the seller and the buyer by keeping the Bitcoin funds and releases it once both parties have fulfilled their obligations.

    Paxful has a list of rules that guides every seller on its platform. Take a look at the following rules and make sure to be guided by them when transacting on the Paxful platform:

  • Be accountable. Sellers should accept all risk and liabilities when trading. It is up to the sellers to protect themselves from malicious actors and obvious scams. So always be alert!
  • Do no broker gift card codes. This means you cannot sell gift cards you buy from a third party into Paxful.
  • Be responsive to buyers. Sellers should deactivate all offers if they are away from the computer.
  • Be respectful to buyers. This is pretty self-explanatory.
  • Write clear offer terms and trade instructions.
  • Off-escrow trades are not allowed. Do not give other users your contact information outside Paxful and communicate from there. In case of fraud because of off-escrow trades, Paxful will not be able to help you
  • Do not be open to price negotiations. The buyer must pay the exact price that is set for the trade.
  • Read Also: How To Receive Crypto On Coinbase

    What To Do After A Trade Is Completed

    Consider leaving feedback. This will help other traders to know more about the buyer. The same should be done by the buyer to sellers.

    Sellers and Buyers can also add their trade partner to a Trade Partners list. This will allow you to create your own trading community with the users on Paxful that you trust.

    Searching For An Offer

    How To Sell Paxful Bitcoin To Naira On LoadNG

    The first step to selling Bitcoin with cryptocurrencies is to look for an offer that accepts that specific cryptocurrency youre looking for. Youll also need to enter the amount you wish to sell and the currency you prefer.

    Note:You still have to choose preferred fiat currency as it will be used as a reference point to the market price of Bitcoin. However, it is advised to choose USD as Bitcoin worldwide price is set in this currency.

    After you find a suitable offer, be sure to read the offer terms before opening the trade. This will show you a brief summary of what the buyer will be requiring from you in regards to payment.

    Once you have started the trade, a more detailed set of instructions will appear. These are called trade instructions. What the buyer will require from you will vary depending on which specific online payment youll be using.

    Note:It is your full responsibility to provide a buyer with a correct wallet address.

    Read Also: Can You Advertise Crypto On Google

    Additional Methods For Selling Bitcoins

    In this post, I tried to focus on the main methods for selling Bitcoins. However, there are numerous other methods you can use to sell your Bitcoins.

    For example, Skrill, Netteller, Amazon gift cards and more. Most of these options can actually be found on LocalBitcoins .

    Another option would be to just exchange your Bitcoins for real life goods you want to buy such as a car, a house, a computer, etc.

    Start Earning By Buying And Selling Bitcoin Today

    Paxful has a growing community of six million crypto traders around the world. With 400 payment options to choose from, youll surely never run out of exciting Bitcoin offers to grab and enjoy. Apart from buying and selling BTC, lots of ultimately fun and rewarding financial opportunities await you on the platform.

    Thousands of BTC offers are waiting for you today. Are you ready to start your trading journey?

    *The content of this article is for informational purposes only. The opinions expressed here are not meant to be taken as financial, investment, or any other advice, nor do they express the opinion of Paxful.

    *Paxful has no relation to OneVanilla, Visa, MasterCard, American Express, SquareUp, or other payment services and platforms. We make no claims about being supported by or supporting these services. Their respective wordmarks and trademarks belong to them alone.

    Read Also: What Should My Crypto Portfolio Look Like

    Paxful Review: Wrapping Up

    So, if you have read our Paxful review till the end, you now know what exactly this peer-to-peer crypto exchange is. The best part is that it offers a wide range of payment methods to choose from in order to start trading cryptos. Apart from that, other features like a free wallet, escrow security, and no commission fee make it even better. If you dont find trading that complicated and manage it by yourself then Paxful can be the best crypto exchange for you, especially because of its flexibility with payment methods.

    You can also follow us for instant tech news at or for tips and tricks, smartphones & gadgets reviews, join GadgetsToUse Telegram Group or for the latest review videos subscribe GadgetsToUse Youtube Channel.

    • TAGS

    Getting Tipped In Btc

    Buying/Selling Bitcoin with Paxful

    One of the most fulfilling things in this world is helping other people outand if you get tipped a little money on the side for it, even better! One of the most notable platforms is Bitfortip, which gives out BTC rewards for accomplishing various kinds of tasks like helping people find a dress online and giving informed technical answers to their questions.

    Additionally, if youre a videogame streamer, why not accept tips in BTC? Twitch and other streaming platforms have integrated crypto-tipping services, so be sure to check those out!

    Difficulty: Easy

    Speed: Fast

    Read Also: Where Can I Use My Bitcoin

    Creating Account On Paxful

    If you are a newbie on Paxful, heres how you can easily create an account.

    On Desktop

    1. Go to thePaxful website and click on Register at the top right.

    2. Enter your email address, choose a password, and click on Create Account. Once done, you will receive a free Bitcoin wallet where you can store and manage all your cryptocurrencies.

    3. You will receive a verification code at your email address. Enter the code on the website in order to verify your account.

    Thats it! You can now start trading on Paxful.

    Mobile Apps

    Paxful also offers Bitcoin wallet apps for iOS and Android devices. The app offers simple and secure access to your wallet and lets you send, receive, and store cryptocurrencies on your mobile phone anytime. Other features of the Paxful app include real-time updates of balance, the status of recent transactions, and profile personalization.

    Sell Bitcoin On Paxful

    If you want to sell Bitcoins on this platform, you will need to set your preferences first. The process is again very simple. Heres how you can get started.

    1. On the home page, click on Sell and then choose your payment method.

    2. Or, directly click on Sell from the available offers listed below.

    3. Once again, you will need to verify your email and phone number to start selling. Also, make sure that you have enough crypto in your wallet before you create an offer.

    Recommended Reading: Which Crypto Exchanges Report To Irs

    How To Redeem Gift Cards On Paxful In 13 Quick Steps

    It has come to my understanding that not most people knowthat they can monetize their already gotten gift cards which wont be of anyuse to them. Good news is, you can always cash-back on your gift cards

    On this article, Ill be enlightening the large percentage that have got idea on how to redeem this cards on a popular site known as PAXFUL.

    Below is a video i made to put you through the steps.

  • Create a profile onPAXUL: this is the first andbasic step on redeeming your gift cards. All you have to do is visit theofficial paxful site www.paxful.com and register for a profile, onceyouve clicked the creating of account or register on the site, you follow thesteps as prompt.
  • Which includes you having an email, a mobile number, a regulatory identification card, the steps are very easy like on every other registration process on other website but one important thing you must not forget is the Two factor verification setup I cant stress this enough.

    I once fell victim of paxful hackers during my early stage in trading on paxful, the amount stole was just $130, its not much right now but that was about 95% of my capital back then, so you will do well by setting up the 2fa on your paxful account.

      4.Click on the BUYBITCOIN button, when you click on the button you will have the image showedbelow.

      6. After you you filled out the form cointaining detailsabout your card then you can move on toclick on the search button below.

      Be Aware Of The Price

      How to Sell Bitcoin on Paxful in the Philippines

      The Bitcoin price on Paxful is never equal to its official market rate as sellers charge a fee to convert traditional currency into Bitcoin. The price of the fee varies among sellers and depends on who you buy from. So be on the lookout for the best deals. The offer page always includes the rate of each seller. What should interest you the most is how much you get on dollar. The higher the number, the more profitable the trade will be for you.

      Read Also: What Is The Meaning Of Bitcoin

      Other Means To Make Money From Bitcoin Trading

      Aside from the steps weve mentioned above, you can also try arbitraging. This is one of the most popular strategies to earn money while trading. On Paxful, this approach works by buying Bitcoin at a lower price and selling them at a higher price using a different payment method.

      To make a good profit, take advantage of the offer margins. You can buy BTC using bank transfer as it has the lowest fee among the payment groups or use other payment options and buy BTC at a very low margin. The next step is to sell Bitcoin at a higher price by setting a competitive markup.

      Lets say you bought BTC using bank transfer with a minimal margin of 2%. You can then sell it using PayPal and with a 15% or 20% markup and earn profits. This is how Bitcoin arbitrage works.

      Pro tip: You can set very high margins using PayPal since theres a risk involved in this option and its one of the most popular payment methods on the platform.

      Things To Consider To Avoid Scams On Paxful:

    • Look for sellers feedback / rating / trading history before buying
    • Prefer payment methods such as credit card, paypal or bank transfers, as they may be reclaimed in case of scams, while gift cards and vouchers are hard to claim once lost
    • When in doubt, always get in touch with the support team or check in the forums to ensure the credibility of the seller
    • Make sure you purchase the bitcoin over the paxful platform only, which gives you an extra layer of security, rather than buying it directly from the seller on an external platform
    • Be aware of the fees as it varies upon your chosen payment methods
    • Also Check: Can You Buy With Bitcoin

      What Is Paxful Trading Account

      A Paxful Trading Account is an account you open in the Paxful Exchange platform that allows you to buy and sell cryptocurrency. It also allows you to use various gift cards to exchange bitcoin with ease.

      Another important of the Paxful Account is that it also serves as a bitcoin wallet that allows you to store bitcoin. You can sell these bitcoins for cash or exchange them for gift cards.

      Price Negotiations Are Strongly Forbidden

      How To Buy And Sell Bitcoin On Paxful

      A buyer of cryptocurrency must pay the exact price that is set for trade. If during a trade both sides agree to change the amount, a new trade must be re-opened for the correct amount. Price negotiations within the same trade are against our Terms of Service.

      Check our guide on how to sell cryptocurrency on Paxful to have an overview of our trade flow.

    • Selling Cryptocurrency for In-game Items

      In addition to gift cards with a game balance, some games offer an option to gift in-game items such as resources, skins, weapons, etc. We are happy to offer you an opportunity to sell crypto for in-game items. Heres everything you need to know about it.

    • You May Like: How To Calculate Market Cap Crypto

      How To Avoid Paxful Scams

      To avoid landing at paxful scams

      • Do not buy bitcoins from sellers that do not have verified details .
      • Ensure you go through a bitcoin sellers feedback report to see what other traders are saying.
      • Read the traders agreement and chat with them before buying to get clarification on issues you are not sure about.
      • Traders with negative reputations are a big no. Also consider their trading rates and buying terms.

      Selecting Genuine Paxful Bitcoin Trader, Kenyan/Photo

      Buying Bitcoin Through An Exchange

      Buying bitcoin through an exchange is mainly for those who use a buy-and-hold bitcoin strategy. This is because buying through an exchange means that youre taking direct ownership of bitcoin with the expectation that its price will rise.

      That said, there are some problems with buying bitcoin through an exchange:

      • Bitcoin exchanges often lack proper regulation and the infrastructure needed to respond quickly to support requests
      • The matching engines and servers on bitcoin exchanges are often unreliable, which can result in the suspension of markets or reduced execution accuracy
      • Bitcoin exchanges often impose fees and restrictions on funding and withdrawing from your exchange account, while accounts themselves can take days to open

      You May Like: What Are Blockchains In Cryptocurrency

      Set A Competitive Offer Margin

      . This allows you to set your offer above or below the market price. On Paxful, you can set positive and negative margins. Heres how margins work.

      • Positive margin If youre a Bitcoin seller, setting a positive margin means youre selling crypto higher than the current market price, allowing you to gain profit. If youre a buyer, this means youre buying BTC at a much higher price.
      • Negative margin A negative margin means that youre buying or selling crypto lower than the current market value. If youre a buyer, a negative margin will allow you to save money by purchasing BTC at a lower price.

      On Paxful, every trader has full control over their . Sellers can often tell how much they can earn based on the margins they set. However, it is important to mention that margin limits vary depending on your account verification level and the payment group you choose.

      How Do You Sell Bitcoins

      How to Buy and Sell Bitcoin on Paxful? A step by step ...

      When you feel like its time to trade those precious Bitcoins back to fiat money there are a few things youll need to think about.

      First, how do you want to get paid?

      Do you want to receive money to your PayPal account? your credit card? your bank account? or maybe you prefer cash?

      These considerations will lead you to the second question: Which exchange do you want to use?

      Different exchanges provide different payment methods, fees, and exchange rates. Its important to conduct ample market research before choosing the right exchange.

      Finally, theres the issue of taxation.

      I wont go into detail about this one since its different for each country. Ill just say that its important to know how your country taxes cryptocurrency sales in order to understand if and when to report about the sale to authorities.

      Some countries havent come up with clear guidelines, while others have very strict rules. Make sure to consult a CPA in your jurisdiction.

      Now that weve got the basics out of the way, let me review the various methods you can use to sell Bitcoins.

      Also Check: How Much Are Crypto Taxes

      Do Not Use Third Parties For Payments

      You are the person responsible for accepting and processing payments. If you have no control over the payment and you transfer responsibility to others, this can be considered as fraud. For example, in the case of bank transfer, you should be the account owner, in the case of altcoins, you should be the owner of the wallet, etc.

      Set Your Stops And Limits

      Stops and limits are crucial risk management tools and you have several to choose from when you trade with us:

      • Normal stops will close out your position at a set level, but they could be liable to slippage if the underlying market price changes quickly
      • Trailing stops follow favourable market movements to lock in profits, while capping your downside risk. However, they too can be subject to slippage
      • Guaranteed stops will close out your position at a set level, regardless of any slippage. Guaranteed stops are free to set, but youll be charged a fee if your guaranteed stop is triggered

      These tools are all available to select via the deal ticket on our trading platform.

      Recommended Reading: How Much Does 1 Share Of Bitcoin Cost

      Brokering Gift Card Codes Is Strictly Prohibited On Paxful

      Brokering is when you buy a gift card code from someone, thinking you can sell it later to someone else. Even if you checked the code when you bought it, the person who sold you the code can use it anytime without your knowledge, and this is why it is against the Paxful Terms of Service. If you keep trying to give sellers used codes, you will be reported and banned from trading on Paxful as it is not only a waste of your own time but also that of others. Remember to only use gift cards you have bought yourself.

      Popular news
      Related news