An inherently peer to peer technology should have more peer to peer exchanges.
Yet bitcoin has so very few peer to peer exchanges and those that exist are crude, at least in design terms, compared to the conventional exchanges. We’re out to change all that. Peer to peer marketplaces are the future of bitcoin, centralized or not. The world needs more options and Paxful is up to the challenge. We see tremendous potential for a worldwide network where bitcoin users can trade among reputable local and online sources and make a living. Bitcoin is all about new opportunities for those willing to adopt. We’re here to give them what they want.
If you can Make it Here…
Our experience with local merchants taught us a lot. We are confident if we can make it easy for restaurant owners in New York City, the most demanding customers on earth, then we can do the same for the bitcoin traders as well. One of our founders, Ray, built a leading bitcoin exchange last year and also the first and only wallet for iPhone, for at least six months. That experience will go into taking the peer to peer exchange to the next level. Artur has worked with some of the biggest banks in the SEPA system and that will ensure our focus is not purely US centric but global.
Our primary focus is to make it as easy as possible for the buyer and thus bring in a whole new market of buyers. Simplicity is key and working with Brick and Mortar merchants gave us the experience we needed to refine UI elements down to their core elements. A buyer will be able to find a bitcoin seller as easy as a Google search.
Ease of use means Mainstream adoption
We’re not talking about a few UI tweaks but an entire level up from the foundation on upwards of the peer to peer cryptocurrency exchange. We are laying the groundwork for something far bigger than just cryptocurrency trading but as with all great adventures it begins with a single step. Often that first step must be to solve a problem that currently exists. Judging by all the power sellers we have spoken to the lack of refinement in peer to peer exchanges is problem and opportunity for all of us to take bitcoin to the next level.
Selecting between sellers and traders will be a breeze as the most important elements are brought front and center and our reputation system will be a revolutionary combination of eBay, Ycoutube and more. Currently feedback is anonymous and cannot be responded too. This makes the negative score far more powerful than the positive. Meaning a trader with 1000 trades and one bad feedback is often viewed as less trusty worthy than a new trader with +10 feedback and zero negative ones. We will fix this.
Security Bug Bounty
We’re just getting started and are now stress testing. If you want to help then please give our wallet at https://paxful.com/wallet a security test run. Try and hack in and hack out coins please. We have a serious bug bounty up of 1 BTC per major security flaw.
Stay tuned and please suggest any features you’ve been craving. We are here to solve everyones problems, that is what bitcoin is all about.
Early power sellers and buyers are welcome
Since we are launching marketplace on 23rd of April, we will be rolling out access to list buy and sell offers. In order to keep all payment methods clean and organized, access to list offers will be given in steps. To get early access for listing your offers please sign up and we will make sure to give you access to list your offers. Starting a trade for listed offer will work for everybody.