Bitcoin has truly gone mainstream in the past few years. It’s broken into the masses. As fantastic as this is you’d expect it to be really easy to get your hands on some bitcoins, right? Not quite. The more popular this awesome crypto becomes the harder it seems for a first time user to get their hands on bitcoin.
Existing Ways of Buying Bitcoins
The largest and most popular places to buy bitcoins are traditional exchanges like Coinbase or Binance. This is all good when you’ve set your account up, sent all the required documents and got verified already. Not so great when you need to buy bitcoin fast. Currently, a lot of bitcoin exchanges are struggling to keep up with the huge demand and it might take days, even weeks to get your account verified. Even the biggest and most popular ones are taking the piss a bit with their verification timescales. Before you’ve done this, there is no way for you to buy bitcoin with a credit card or a bank transfer.
Yes, you can get bitcoins in exchange for other cryptos without verifying your identity but that’s not gonna help much if you haven’t got any.
As bitcoin’s price is very volatile, by the time that you’ve got your account verified and all ready to go, the price might already not be the one you were looking to buy at. What if you don’t want to buy using a credit card? What if you haven’t got one and have no way of obtaining it? How do you get bitcoin then? Yes, you could meet up with someone and do it in cash but that could also be very risky.
The reason behind why it’s so hard to buy bitcoin
If you’ve been asking the questions above, we know how you feel. Bitcoin was supposed to be instant, free, for everyone. It very much started out like this but somewhere along the way something changed. Bitcoin promised to be something liberating, a value shared between people. Yet the big guys have come in and regulated the whole thing again.
The whole key idea of bitcoin is that you don’t need a central authority, yet the most common ways to get bitcoin still require a middleman.
Buying bitcoin Peer to Peer is the simplest:
Here’s where Paxful comes to help. We are a peer to peer bitcoin marketplace offering our own escrow service. The funds are kept safe until the buyer and seller have completed the trade and released into the buyer’s wallet.
Not only buying and selling bitcoins, but peer to peer transfers also help in moving your wealth. In Nigeria, for example, people are limited to spending a small amount per month by their banks– Now you can easily convert your bank money to bitcoins and get your way around these restrictions.
Not just bank transfers but with other popular methods (like PayPal or digital banks) and rather unconventional methods (like iTunes and Amazon Gift Cards), we make the process of buying bitcoin extremely simple and instant.
Paxful was born out of necessity. Two friends trying to buy and sell bitcoin online realized that there were all sorts of roadblocks. The deeper they looked into it they realized there was even a bigger problem for a vast amount of people. 2.5 billion people today have no access to financial services. Not because they choose to, they have restraints due to their credit ratings, their income or the part of the world they were born in.
Paxful– The Easiest Way to Buy Bitcoin
Unlike traditional exchanges where you have to submit your ID and wait for hours before you are verified. Go through ever-watching eyes of the moderators who are suspecting you as a fraud by default, trading in Paxful is pretty easy and does not even require KYC in most transactions.
Go to buy bitcoin page to see all the offers that are available.
As you can see in the image above, you will need to fill three boxes– 1. For the amount, 2. For the currency and 3. For the preferred method of payment.
The most beautiful thing about Paxful is diversity in the methods of payments. We offer 300 different ways to trade bitcoins. This includes most obvious ones–like bank transfer, debit and credit cards to more obscure methods like Gift Cards. You can buy bitcoins with any of these methods very easily and seamlessly.
After you have selected what payment method to buy your bitcoin with, you will be directed to offers page where you will see all the offers for that method of payment.
You can select the offer you find the most reasonable and simply click on it. Then you’ll be directed to the seller’s page where there will be instructions on how to make a trade. Follow the instructions and voila! you have your bitcoins directly into your paxful’s bitcoin wallet.
Buying bitcoin is really simple with Paxful and also really secure thanks to our Escrow technology and an array of support staff who are available 24*7 to settle all the disputes.