How many bitcoins do I get?

The price of bitcoin relative to the dollar changes daily and rapidly.

How many bitcoin you get for let's say $20, depends on who you buy it from. Some Paxful vendors will sell you bitcoins with only a 5% fee, while others may go as high as 50% fee. It is entirely up to the seller to set their price and up to you to accept the terms.

It also works the other way around. When you’re selling bitcoins, you can make similar profits.

You can also buy any fraction of a bitcoin. For example, if one bitcoin is worth $6,478.37 then you can still buy $20 worth of bitcoin and get 0.0031 bitcoin.

“How come it isn’t one to one?”

It isn’t one is to one because of the same reason buying American dollars for British pounds isn’t one is to one. Buying and selling aren’t one to one because this is a free market where buyers and sellers can set their own price and earn a profit for their time and service. Each vendor sets their own price. Under the “you get” column,  you can see how much you get on the dollar. So as a buyer, make sure that you only choose the offer that you think you can turn a profit from!

“How do I know what is the price and the amount I will receive?”

The price of a single bitcoin is set by 3 different exchanges. This is the rate that most merchants will use when you try and spend bitcoin. On Paxful, each seller defines their own price. The price is usually slightly higher than the exchange price because of convenience and because of the speed you will receive your bitcoin. The ultimate price of bitcoin is entirely up to the seller, it is important to plan ahead before you buy or to make sure that you can afford and turn a profit from the amount of bitcoin that you are getting. As a buyer, your responsibility when it comes to the cost of bitcoin is to look for the right offer.

Look at the PRICE/RATE of each seller's offer. The lower it is, the more bitcoin you get for your currency of choice. If you want to know the current exchange price, check Bitfinex, Bitstamp or Coinbase and then compare it to the price of the seller. 

Pro-tip: Always plan ahead. As a buyer, you can always look for the right vendor, offers, and rate that suit your budget and your plan. If you are planning to buy for profit, you might want to look for offers that have a lower price, if you are looking for bitcoins and money is not too tight to mention, you can go right ahead and look for a more lucrative offer. That is the beauty of the Paxful platform, it is completely and ultimately your decision, it is truly #MoneyYourWay!

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