Want to sell your bitcoins? Paxful provides an opportunity to exchange Bitcoin for more than 300 payment methods. In order to set your own rules and create a flow of trades, you need to create your own offers. This guide will give a short overview of how to create an offer to sell bitcoins on Paxful.
Login in to your account. Click on “Create An Offer”.
Choose “Sell Bitcoin” . Now you will create an offer as a Bitcoin vendor. This offer will appear in Buy Bitcoin section for other users as they will be looking for an option to buy Bitcoin.
Select a payment method.
Here you need to choose how you want to get funds for your Bitcoin:
1. Select the payment group from the left box.
2. Choose the exact payment method from the list in the middle.
If you are not sure which group your payment method belongs to, you can also search for payment methods in the search bar. Simply start typing the name and an option will appear in the second list. If your payment method has been registered already, it will appear for you to select it.
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The escrow fee depends on the payment method.
3. Choose the correct currency. Only one currency per offer is allowed.
For Bank transfers, it is important to insert the bank name and the country where the bank account is registered. This will help to avoid any misunderstandings with your potential trade partners.
Check if all details are correct and click “Next step” to proceed.
Setting market rate and trade limits.
1. Choose how much you want to earn on each sale.
Set a percentage according to the market price of Bitcoin and your personal trading intentions.
This percentage can be both negative and positive. You can read more about margin here.
You will see on the screen a clear explanation of how much you will earn according to the percentage selected.
- Do not set a very high percentage to attract customers and negotiate the price within a trade. It is against our Terms of Service.
- Escrow fee will be added above the profit percentage.
As a default, we offer a Bitcoin price which is average ask price between Coinbase, Bitstamp, Bitfinex. For more flexibility click on “Switch to advanced mode”.
2. Set offer trade limits.
Here you can choose the fiat amount you want to get for your Bitcoin.
You can set a range or click on “Use exact amount” to set the sum you are interested in.
Once a trade is initiated, the exact trade equivalent in BTC will be moved into escrow.
3. Choose the offer time limit.
Users can be not as fast or active as needed. We appreciate the time of our vendors and provide an option to set a timeframe for Bitcoin buyers to complete the payment. This helps to prevent your bitcoins from being blocked in a pointless trade with a non-responsive trade partner.
Check if all the details of your choice are correct and click “Next step” to proceed.
Customized trade partner terms and instructions.
1. Choose the offer tags.
Offer tags will appear close to the payment method name in the list of offers. It should be something which helps to personalize your offer, adds additional information to it. Example: All bank transfers, Instant payment, All Nigerian banks, Long term buyer needed.
2. Select the offer labels.
Offer labels will appear under the payment method type and your tag. You can select more than one label. Labels are used to draw attention to the most important specifics of your offer: no ID verification needed, quick release, receipt required and more.
For Bank Transfers the bank name is used instead, which you fill in on Step 3 from this guide.
3. Write offer terms for buyers.
This info will be shown publicly in your offer listing. It should have short and clear details: do you want a buyer to provide a photo of his ID? Is any receipt or other document needed? Do you want the payment method to be processed in a specific manner? Will you require a considerable amount of time to check the payment before releasing bitcoins? Check more info here.
4. Set trade instructions.
Trade instructions will be visible once a transaction has started. This should be a clear step-by-step guide for your potential trade partner.
Click on “Advanced options” for some additional optional settings:
1. Select a target country.
You can choose a country where you would like to get your main traffic.
2. Set a verification filter for your trade partners.
Trading with verified users helps to avoid irresponsible traders. However, the number of your potential trades will be lower as some of the users want to keep their privacy online.
3. Adjust offer visibility.
Visibility can be set for your trusted users only. It is useful if you have a list of traders marked as trusted and you want to trade only within this group of people.
4. Minimum trades required.
This is useful when you want to trade only with experienced Paxful users. Set a minimum you consider valid for you.
5. Set a fiat limit for new accounts.
You can use this option not to risk big sums with users of a few trades and a low reputation.
6. Limitation by countries.
Now you can select users from which countries can see your offer and which will not have it visible. This is related to IP address and smart country detection.
7. Proxy/VPN limitations.
Finally, you can also choose whether to trade all users or avoid those with VPN and Anonymizer.
Check if all details are correct and click “Create offer” to proceed.
- You can always return to the previous step by clicking on “Previous step” button.
- You can also change and edit your offer later.
- Offer cannot be changed once a trade has started.
Once your offer is created you can check it in your dashboard. Use Vendor dashboard to edit and manage your offers.
Now you are good to go. Wait for buyers to start trades with. Be aware of our Terms of Service, tips and notifications. In case of any issues, feel free to involve our Customer Experience Team.