Paxful marketplace was found in 2015 by Ray Youssef and Artur Schaback and is based in Estonia. It is a peer-to-peer buying platform that allows you to buy and sell bitcoins quickly and easily. Although it is more difficult to mine bitcoin nowadays, cryptocurrencies are increasingly getting accepted, even for everyday purchases.

Paxful supports 300 payment methods

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A man walks past an electric board showing exchange rates of various cryptocurrencies at Bithumb cryptocurrencies exchange in Seoul, South Korea, January 11, 2018 REUTERS/Kim Hong-Ji/File Photo

Paxful being a peer-to-peer exchange platform allows users to pay for their bitcoin purchase using one of the 300 payment methods supported. Options include gift cards, Apple Pay, Facebook Messenger, as well as more traditional methods such as debit card, cash or online wallet.

HOW MUCH WILL USER's PAY WITH PAXFUL?

Exchange rates also vary depending on the transfer service you choose. For example, if the average market rate is $1 US = 1,049.20 bitcoin, Paxful could offer an exchange rate of $1 US = 1,037.15 bitcoin. The seller will then decide how much more he wants to bill. So be sure to compare seller rates before initiating a transaction.

WHAT TYPES OF TRANSFER ARE SUPPORTED BY PAXFUL?

Bitcoin
Bitcoin Pixabay

As bitcoin is a digital currency, all transfers are delivered into your Paxful e-wallet. To purchase bitcoins, you can use any of the payment options that include:

ADVANTAGES AND DISADVANTAGES

Advantages

  • It's very easy to use- Buyers and sellers benefit from a quick and simple process.
  • Hundreds of payment methods- Pay with cash, debit or credit cards, your bank account, gift cards, Apple Pay and more.
  • Fast transfer deliveries- In most cases, your bitcoin appears instantly in your e-wallet.
  • No buyer's fee- Although Paxful charges sellers a 1% fee on the transaction.

Disadvantages

Sellers choose the exchange rates they want to offer. Compare sellers' rates before choosing the best offer for you. Paxful can be a handy option to help you buy and sell bitcoins. But the value of bitcoin can be somewhat volatile. Compare exchange rates, transfer speeds and fees with other bitcoin exchange services like Localbitcoins, CEX.IO and Cryptonit.