Paxful is a P2P (person-to-person or peer-to-peer) exchange. It is basically a platform for Bitcoin sellers and buyers from around the world, much like Local Bitcoins.
How to register on Paxful
On Paxful home page tap on CREATE ACCOUNT.
Fill in the short registration form and wait for a confirmation email.
Thats it. after activating your account you can start using the site services.
this is how the dashboard looks like.
How to buy bitcoins on Paxful
That is also a simple and straightforward process.
You tap on BUY BITCOIN.
You enter an amount.
You select a currency.
You choose a payment method and tap on SEARCH.
You get a list of all available sellers, each one with his reputation from past sails.
Once you choose a seller and click TRADE you will be redirected to the trade page and contact the seller via live chat.
Follow the seller instructions, complete the payment, click PAID and wait for the seller to release the bitcoins to your Paxful wallet.
Most trades are instant, depending on payment method (Moneygram take some time)
Paxful allows for almost any payment method, and there are over 300 ways to buy and sell bitcoins on paxful. You can find the complete list on the FAQ of the site.
When a trade starts, the bitcoins are transferred to Paxful’s escrow and the trade can be canceled only the buyer. In that case the bitcoins will be transferred from the escrow back to the seller’s wallet.
Also if the payment wasn’t complete the trade will be automatically cancelled and the bitcoins will be transferred from the escrow back to the seller’s wallet.
Zero transaction fees for buyer
Paxful doesn’t take any fees from the buyer. The site only takes 1% from the total sale amount from the seller. However, most sellers add their fees into the exchange rate.
There’s an active support forum on Paxful were you can ask any question and a greate FAQ section.
Don’t forget to get a wallet – Keep your coins safe!
It is strongly advised not to store your cryptocurrency on an exchange, only on a dedicated wallet that you own. Here you can read more about what is a Bitcoin Wallet.