There are a variety of cash payments that you can use to sell bitcoin on Paxful. This article gives you an overview of selling bitcoin using any of the supported cash payments.
Before selling bitcoin with cash payments, here are a few things to consider:
- Some payment methods such as Cash By Mail or Cash In Person, require full ID and address verification (for amounts higher than 50 USD per trade).
- In case of some disputes, it is very difficult for Paxful to provide assistance — be ready to file a Police report in such cases.
Searching for an offer
The first step to selling bitcoin with cash is to look for an offer that accepts cash as payment. You’ll also need to enter the amount you wish to purchase and your preferred currency
When you find the offer that suits you, be sure to read the offer terms before starting the trade. This will show you a brief summary of what the buyer requires from you regarding the payment. In the case of Cash In Person, the offer terms should provide a brief list of meeting preferences.
After reading through the offer terms and confirming that you agree with the conditions, it’s time to start the trade. Once the trade has begun, a more specific set of instructions should appear for the meetup. Usually, for cash trades, buyers should promise to provide a teller receipt. If at any point during the trade you feel confused about the instructions, feel free to send a message to the buyer via trade chat. They should be able to help you with any questions that you may have.
Creating an offer
To sell bitcoin with a cash payment, you can also create your own offer. Here are some things to consider:
- Set a margin you find profitable as no negotiations during the trade are allowed.
- Write clear offer terms and instructions.
- Make it clear which proof of payment you require and how much time you need to confirm the payment.
- In the case of Cash In Person, state clearly, where you want to meet.
Tip: Prefer public places for Cash In Person trades.
After creating and publishing your personalized offer, wait for a buyer to start a trade with you. Once a trade has started, you will receive a notification. Feel free to discuss all the necessary details with your trade partner.
Completing a trade
For a Cash In Person trade, once all the details have been settled, it’s time to meet up with your buyer. Go to the specified location and collect the cash from the buyer. Once this is done, wait for the buyer to mark the trade as Paid. Now click the Release bitcoin button.
Note that in the case of Cash By Mail, the trade may require a lot of patience from both sides.
With other cash payment methods, the payment process itself is usually quite simple. In any case, always make sure you have provided correct details to the buyer and collected all possible proof of receiving or not receiving the payment.
The last step for you is to release bitcoin from the trade escrow. Click Release bitcoin button only if you are absolutely sure about receiving the payment.
After a trade
Once the trade is completed, you can leave appropriate feedback for your trade partner. Also, if you like trading with the user, you can add them to your trusted list.
Here is some more information on how to sell bitcoin on Paxful.