Every trader is aware that Bitcoin prices may vary on each exchange platform. Paxful values your freedom of choice and provides flexibility to choose Bitcoin rates for your offers the way you find it most convenient and profitable. Creating an offer on Paxful has an option to choose a market source of Bitcoin rate and an option to select a price point.
When you create an offer to buy or sell bitcoins, you can decide whether to use the regular rate offered by Paxful or select one of the most popular exchange platforms from the list in the drop-down menu. The price point is also flexible.
Offer Bitcoin price = source price + margin %
So you create an offer as usual but on step 2 you can do the following:
- Click on "Switch to advanced mode" in the upper left side of the box.
- Select an exchange platform from the drop-down menu for "Custom Price source".
- Choose a price point from the box "Select a price point to use".
- Choose your preferred margin.
You can always switch back to simplified offer flow by clicking on "Switch to simple mode".
Q: How is the regular (simple mode or Paxful last price) Bitcoin rate calculated on Paxful?
Paxful offers Bitcoin rate which is the average ask price between the following sources:
Q: What are the available rate sources in advanced mode?
In advanced mode Paxful offers you a list of these exchange platforms:
Q: How often rate updates happen?
Paxful updates rates from the exchange source every minute.
Q: Which price points are available?
Here is the selection of price points:
ask - The ask price is the current lowest price that a Bitcoin seller is willing to accept from a buyer.
bid - The bid price is the current highest price that a Bitcoin buyer is willing to pay to a seller.
24 high - The highest Bitcoin price of all completed trades on the exchange platform during the last 24 hours.
24 low - The lowest Bitcoin price of all completed trades during the last 24 hours.
avg - The average Bitcoin price of completed trades for the last 24 hours.
last - The price of the latest completed trade according to the exchange platform selected.
Q: How my potential trade partners will see my custom Bitcoin rate?
When traders will search for Sell offers, they will see the % above/ below market price. Market price, in this case, is Paxful last rate.
If you want to sell Bitcoin, traders will see how much they will get on the dollar.