In this guide, we'll teach you how to buy your first cryptocurrency on the Paxful marketplace in three simple steps. If you want to create your own offer, please see our article on creating offers.
Here’s a short video on how to buy Bitcoin instantly:
Step 1 Setting up search requirements
1. Create an account or log in to your Paxful account, hover over the Buy arrow, and click your preferred cryptocurrency.
The page with offers to buy cryptocurrency appears.
Tip: Using your phone? Click the hamburger icon and choose one of the options from the list that appears.
2. Click Show All or Any payment method field and select your preferred payment method to buy crypto on the dialog box that appears.
Alternatively, click View offers for all payment options to see the list of all payment methods available.
3. Click Any currency and select your currency from the list. Enter the amount you want to trade in the Any amount field.
You can leave the Any amount field empty if you do not have any specific amount in mind.
4. Select your country from the Location list.
5. Click SEARCH FOR OFFERS. The offer list is updated according to your search requirements.
Step 2 Finding an offer
1. Browse through the list of offers.
The list begins with offers that have:
- Sellers with the best rating and reputation.
- Sellers who are the most active on the platform and are ready for instant trade.
- The most profitable margin.
Check the tags and labels for additional information about an offer. When you find an offer you like, click Buy.
Note: Your trade hasn’t started yet, at this point.
The Offer page appears.
Study all details of the offer such as:
- Buying limits — is the offered amount neither too low nor too high?
- Seller’s rate — does it look profitable for you?
- Time limit — will you manage to execute the payment within this timeframe?
- Offer terms — is the seller requesting additional documents or having specific requests as part of the trade procedure?
2. Enter the amount you are ready to trade in the traditional currency field or cryptocurrency field. Click BUY NOW.
You can click Take a Tour to receive a walk-through of the process in case you have any questions or doubts.
The Trade chat page appears.
Note: At the moment when the trade starts, the cryptocurrency rate is fixed and will not fluctuate.
Step 3 Trading
1. Discuss the necessary details with your partner using our trade chat and follow their instructions carefully.
2. Make the payment.
After making the payment, click I have paid.
The Self Declaration dialog box appears.
3. Click Yes, I have paid.
- You can always cancel the trade by clicking the Cancel button.
- If you have already sent a valid payment, never cancel the trade. Please keep in mind that the cryptocurrency will be released from the escrow system and sent back to the seller once the trade has been canceled. Instead, submit a dispute to lock the cryptocurrency in the escrow system and notify our moderators of the situation so they can help sort things out between you and your trade partner.
- You should only cancel a trade if you're not ready to send the payment and/or disagrees with your trade partner's offer terms.
- In case of any trouble or disagreement, click Dispute to invite our moderators to investigate the case.
The seller releases the cryptocurrency from the trade escrow to your Paxful wallet. At this time, the trade is now completed successfully.
- After the seller of cryptocurrency has released funds from the trade escrow into your Paxful wallet, consider leaving feedback. This helps other traders to understand who they are dealing with.
- You can click Click to add Username to your contacts to quickly trade with them in the future to add a user to your Trade Partners list. This will help you to create your own trading community with users you trust.
- If you need a public receipt of the BTC transaction, click Public receipt on the bottom of the page.
Check our tips for buying cryptocurrency for more information. In case if you want to sell cryptocurrency, explore the following guide.