• Buy bitcoins step-by-step

    Bitcoin is very exciting and we are very excited that you are taking this journey with us.

    The first step to buying bitcoins is to create an account at Paxful. Paxful gives all of the users a free wallet upon sign up. After you create your account, you will get your free wallet instantly.

    The next step to buying bitcoins is to search for a proper offer for you. Click on “buy bitcoin” and enter the currency you wish to deal in, the amount you’ll be spending, and one of over 300 payment methods. After you click “search” you should be able to see a list of offers to choose from. Remember to look at every detail of each offer because each plays an important role in finding the right offer. Read the offer terms of each vendor and see which one you can comply with. Once you read through the seller’s offer terms and are happy with them, click “buy”.

    This opens the trade with the instructions and the chat box. Once you have followed all the vendor’s instructions, sent the required files and documents, and have made a payment, click the “Mark as Paid” button. If you don’t click it, the trade will expire and bitcoins will be released from the escrow back to the seller.

    When a trade starts, the seller’s bitcoins are transferred automatically to our secure escrow and at this point, the seller can’t cancel the trade. Only a buyer can cancel a trade at any moment and bitcoins will be transferred from escrow back to seller’s wallet. If the buyer hasn’t made a payment and not marked as payment completed within the payment window time frame, a trade will be auto-cancelled and bitcoins moved back to seller’s wallet.

    Here are some of the more popular payment methods for buying and selling bitcoins:

    1. Want $1-$30? Gift cards might be a good option for you. There is a wide variety of gift cards available on Paxful such as iTunes, Target, Amazon, Walmart, BestBuy, or Gamestop. You can also use OneVanilla prepaid gift cards as well. Just buy one at a drug store and search for a good deal.
    2. Want to buy with a debit, credit, or prepaid gift card? Some vendors may ask for ID and the price might be a little bit higher than other payment methods, but you will get your bitcoins instantly.
    3. Want the BEST PRICE? Buy with bank cash deposit. Start talking to a vendor and get his bank account number and deposit the cash to the teller. You won’t even need a bank account as you’re paying with cash anyway.
    4. Want to buy bitcoins with PayPal, Netspend, Skrill, or other online wallets?


    For more tips on how to buy bitcoin quick and easy, click here.

  • Tips for buying bitcoins

    Buying bitcoin can be tough at first but if you follow these simple tips, you’ll be able to buy bitcoin easily, safely, and quickly. 

    To get you started, here are a couple of tips that could help you with your start at Paxful: 

    1. Take note of the minimum trade amount. If you’re buying bitcoin, the current minimum is 10 USD. If you’re selling, then the minimum is 0.001 BTC.
    2. Find a vendor with a good feedback score. A vendor’s reputation is displayed in green with a + before it. For example +1305 -1 means they have +1305 good feedback scores from buyers and only 1 negative. Someone with a feedback score +200 or higher is ideal. Better if the seller is ID verified.

    3. ALWAYS read the terms of the offer BEFORE you start the order. Vendors should mention what they expect and what you will need to provide. For example, for gift cards, many vendors require a receipt showing that the gift card was bought with cash. If they ask for this and you can’t provide it, then it’s better to not deal with them and just look for someone else. If you CAN provide all the requirements, then make sure you have everything ready BEFORE you start the order.
    4. Be aware of the PRICE. Buying bitcoins is never 1 to 1. Vendors charge a fee to convert a gift card or cash into bitcoin. The price of the fee varies among vendors and really depends on who you buy from, so be on the lookout for the best deals. The offer page always includes the price of each vendor.
    5. Read the vendor’s instructions. These are the more specific instructions that follow after you have started the trade. They’re usually given at the very beginning of the chat. If at any point you need help clarifying or complying with an instruction, feel free to ask the vendor in the trade chat.
    6. Click the “Mark as Paid” button ONLY when you have actually paid. Once you’ve clicked the  “Mark as Paid” button, the countdown timer stops and the order can no longer expire. This is important because if you sent the vendor the payment info such as a gift card code and the offer expires, then the escrow is released and you won’t get your bitcoins. The “Mark as Paid” button also provides security from dishonest or forgetful vendors. If you click the “Mark as Paid” button and you haven’t paid, the vendor might think you’re a coin-locker or someone trying to scam him/her. Be sure to click the button only once you’ve paid to prevent complications.
    7. Brokering gift card codes is STRICTLY prohibited on Paxful. Brokering is when you buy a gift card code from someone, thinking you can sell it later to someone else. Even if you checked the code when you bought it, the person who sold you the code can use it anytime without your knowledge, and this is why it is against the Paxful Terms of Service. If you keep trying to give vendors bad codes, you will be reported and banned. It will also not only waste your own time but also the time of others. Remember to only use gift cards you have bought yourself.
    8. Using 3rd parties for doing payments is not allowed. You must be the actual payer and be the original owner of the submitted payment (Owner of the gift card, credit card, bank account, an account of online payment platform). Being a middleman in paying for bitcoins is not allowed and can be considered as a scam.
    9. Only trade for the WHOLE AMOUNT of the gift card. If you have a $50 gift card, then you can’t trade for a fraction of that (ex. Asking someone to take only $33 only out of your $50). Note that the vendor can only take the whole amount so if you start order for $33 and he takes $50, the only way to get your change back in bitcoin is by starting a new trade for the difference. Vendors ranges may not meet that amount or the vendor may take down his offers or go offline, so don’t make this mistake.
    10. NEVER ask the vendor to release the bitcoins first. This is grounds for an instant ban as it indicates a scam. The escrow is there so you know the bitcoins are there and waiting for you until you complete payment.
    11. Be polite to the vendors. They go through a lot of tough customers and being polite can save you a lot of time. Being polite is about a lot more than your language, it’s about following their instructions as well. Note that if there is a dispute, the moderator will take language into account.
    12. Not Interested? Cancel. If you are no longer interested and have not yet paid the vendor, feel free to cancel the trade. It will free up their escrow and let them continue to trade with others. This is considered to be good manners and proper etiquette on Paxful. If you don’t end up cancelling and leave the trade hanging, the vendor will have to file a dispute or report you, which will probably result in you getting negative feedback. You can see all your active open trades on your dashboard. Click “Chat” and go in and cancel them by clicking on ACTIONS and then click the red “Cancel” button.
  • Buy bitcoins with bank transfer

    Bank transfers are a popular payment method on Paxful and it’s extremely easy to buy bitcoins using bank transfers.

    The first step to buying bitcoins with bank transfers is to look for an offer that accepts bank transfers as payment. You’ll also need to input the amount you wish to purchase and the currency you prefer.

    After you find a suitable offer, be sure to read the offer terms before opening the trade. This will show you a brief summary of what the vendor will be requiring from you in regards to payment. Once you have started the trade, a more detailed set of instructions will appear. These are called trade instructions. In some cases, vendors will already have their bank information on the offer instructions but if they don’t, feel free to greet the vendor and politely ask for the bank information.

    After you have paid the vendor and uploaded proof of your payment, be sure to click “Mark as Paid”. If you don’t click on it, the trade will eventually expire and the bitcoins will go back to the vendor.

    The next step is for the vendor to confirm the payment. Please be patient because this may take some time. Once the vendor has confirmed the payment, he/she should release the bitcoins to you and the trade will be complete. The only thing left for you to do would be to leave appropriate feedback for your trade partner.

  • Buy bitcoins via online payments

    There is a variety of online payments available on Paxful (such as PayPal and Skrill) and they can be used to buy bitcoins on Paxful.

    The first step of buying bitcoins via online payments is to look for an offer that accepts that specific online payment you’re looking for. To do this, you’ll need to input the amount you wish to purchase and the currency you prefer as well as the payment method you’ll be using.

    After you find a suitable offer, be sure to read the offer terms before opening the trade. This will show you a brief summary of what the vendor will be requiring from you in regards to payment. Once you have started the trade, a more detailed set of instructions will appear. These are called trade instructions. What the vendor will require from you will vary depending on which specific online payment you’ll be using. For example, online wallets such as PayPal, Skrill, and Neteller will normally require an image of your ID.

    After you have paid the vendor and uploaded proof of your payment, be sure to click “Mark as Paid”. If you don’t click on it, the trade will eventually expire and the bitcoins will go back to the vendor.

    The next step is for the vendor to confirm the payment. Please be patient because this may take some time. Once the vendor has confirmed the payment, he/she should release the bitcoins and the trade will be complete. The only thing left for you to do would be to leave appropriate feedback for your trade partner.

  • Buy bitcoins with cash deposit

    Cash deposits are a popular payment method on Paxful and it’s extremely easy to buy bitcoins using cash deposits.

    The first step to buying bitcoins with cash deposits is to look for an offer that accepts cash deposits as payment. You’ll also need to input the amount you wish to purchase and the currency you prefer.

    After you find a suitable offer, be sure to read the offer terms before opening the trade. This will show you a brief summary of what the vendor will be requiring from you in regards to payment. Once you have started the trade, a more detailed set of instructions will appear. These are called trade instructions. In some cases, vendors will already have their bank information on the offer instructions but if they don’t, feel free to greet the vendor and politely ask for the bank information.

    Usually, for cash deposits, vendors will require a teller receipt from you. After you have paid the vendor and uploaded proof of your payment, be sure to click “Mark as Paid”. If you don’t click on it, the trade will eventually expire and the bitcoins will go back to the vendor.

    The next step is for the vendor to confirm the payment. Please be patient because this may take some time. Once the vendor has confirmed the payment, he/she should release the bitcoins to you and the trade will be complete. The only thing left for you to do would be to leave appropriate feedback for your trade partner.

  • Buy bitcoins for cash

    Buying bitcoins using “cash in person” method, just like any other payment method available on Paxful, is extremely easy and ideal for offers found near you.

    The first step to buying bitcoins in person is to look for an offer that best suits you. When you click on “Buy Bitcoin”, input the currency you’ll be trading, how much you’ll be trading, and the payment method you’ll be using (in this case, it will be “cash in person”).

    When you find the offer that suits you (looking at how much bitcoins you’ll be getting on the dollar and the reliability of the vendor), be sure to read the offer terms before starting the trade. This set of terms will give you a gist of the requirements you’ll be needing. In the case of cash in person, the offer terms should provide a brief list of meeting preferences.

    Our recommendation is to prefer public places for cash trades.

    After reading through the offer terms and confirming that you can comply with all the requirements, it’s time to start the trade. Once the trade has begun, a more specific set of instructions should appear for the meetup. If at any point during the trade you feel confused about the instructions, feel free to send a message to the vendor via trade chat. He/she should be able to help you with any confusion that you have.

    Once all the details have been settled, it’s time to meet up with your vendor. Go to the specified location and give the cash to the vendor, who will then release the bitcoins to you. After you have successfully received the bitcoins, both you and the vendor should give feedback to each other after the trade is completed.

    We can recommend giving your preference to vendors with good feedback for cash in person trades.

  • Buy other digital currencies (altcoins) on Paxful

    It is possible to buy other digital currencies (altcoins) on Paxful and it’s just as easy as buying bitcoins.

    Buying altcoins on Paxful has the same process as selling bitcoins. The first thing you have to do is to make sure that you have bitcoins in your wallet. If you don’t have any balance in your wallet, that means you’ll have to buy bitcoins first. Once you have Bitcoin on your account, you have to click on the Sell section and choose the category you wish to get in return for your Bitcoin.

    In case you do not like the price of the existing offers you could also create an offer of your own. For example, you’re looking to buy Ethereum (ETH) on Paxful. Create a sell offer asking for Ethereum as your payment method and when another user has clicked on your offer, he/she should then send Ethereum to your wallet address. After you’ve confirmed that you’ve received the payment, you can then release the bitcoins to your trade partner. Remember to give clear and concise offer terms and instructions. These will make your trade easier and more efficient.

  • Buy bitcoins with gift cards

    Gift cards are one of the most popular payment methods on Paxful because it’s easy and simple to trade.

    The first step to buying bitcoins with a Gift card (assuming you’ve already created an account) is to find someone to trade with on the offer list. When you click on “Buy Bitcoin” and filled out the necessary requirements, you should be taken to the offer list and find a gift card type that you want to exchange.

    Go through each offer and carefully read the offer terms as these are short descriptions of what type of the gift card and other requirements vendor has. After you’ve chosen your ideal offer, you should be taken to the individual trade page where a more detailed set of instructions should be given. Just remember to follow these instructions carefully and your trade should go smoothly. If you have any questions, feel free to ask the vendor and he or she will answer them. If at any point you start to feel uncomfortable or suspicious that the vendor you have chosen might cheat you, feel free to cancel the trade at any time.

    After you’ve completed all the requirements and you have clicked “Mark as Paid”, all you have to do is to wait for the vendor to release the bitcoins from escrow and your trade will be complete. Remember to leave feedback on the vendor depending on how your interaction went.

    And there you have it! That is how to buy bitcoins on Paxful with iTunes gift cards.  

     

    Here are some tips for you to make sure that your trades are safe and easy:

    1. Most vendors only accept gift cards that have been bought with CASH, so be ready with a picture of the receipt, sometimes the image of packaging can be also required.
    2. Most vendors only accept gift cards that have a denomination PRINTED ON the card ($25, $50, $100). Many also do not go over a $100 gift card. Remember to read their offer terms and instructions carefully to make sure that you have the right kind of card.
    3. Make sure that your card picture is clear and readable, otherwise, vendors can refuse to accept this card
    4. You cannot sell a fraction of the card value. For example, if you have a $100 gift card, you can’t sell only $30 of that gift card. You have to sell the whole card value.
    5. ALWAYS read the offer terms before starting the trade and uploading details of the card.
    6. Make sure to click the “Mark as Paid” button AS SOON as you have uploaded all the vendor’s requirements. This will prevent the trade from expiring and it will prevent your card details from being stolen.
    7. Note that the brokering of gift cards is strictly prohibited and goes against the Paxful ToS. Brokering refers to buying the code of a gift card from someone else and then selling the code. You are only allowed to submit the codes from the cards you have bought yourself. After you sold the card and received your coins, you may not use this card by yourself anymore. If you are caught brokering or trying to sell used cards your account will be banned.
  • 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 is 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 5 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 that you are looking for.

    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!

  • Is buying bitcoins instant?

    Buying bitcoin on Paxful is easy and profitable. Paxful is one of the safest and easiest to use peer-to-peer marketplace out there. 

    It can be said that most bitcoin trades are instant. The duration of the trade depends on the payment method and the availability of the vendor.

    The time it takes for the trade to be completed depends on the efficiency of the chosen payment method. Some take longer than others due to the verifications needed between the buyer and the seller.

    Vendors will also have their own offer terms that will affect the transaction time. What they will ask as specific conditions, will depend on the vendor, and may take time to fulfill on the buyer's side. Some vendors will specify if one needs to wait before they can transfer the bitcoin into one's wallet or account. Some payment methods are quicker than others so make sure to read all about them before the trade is confirmed. For example, bank transfers are often faster than any other payment options, while using gift cards may take a lot of time for several verifications and confirmations. In these cases, the speed of the transaction directly depends on the seller (plus the terms of the seller and the payment method).

    To buy bitcoin instantly, one needs to read the terms of the chosen vendor to ensure that the deal matches the need of the buyer. The buyer has to choose the trade that suits their preference before finalizing any trades to get their bitcoin in no time.

    One way to shorten the time of the transaction is to chat directly with the seller. Vendors will often reply to inquiries directly, saving both the buyer and the vendor some time. This way, the buyer can directly ask the vendor what is the fastest way to get the bitcoins that the buyer is planning to buy. Please be aware that communication between the vendor and the buyer must be inside the Paxful trade chat. In case the buyer disagrees with the vendor terms, the trade needs to be canceled.

    To buy bitcoin fast, make sure to choose a payment method that can be used easily and that will not take much time. Secondly, check the terms and conditions of the vendor. If the terms are clearly stated on their offer, you can estimate the duration of the whole transaction right away.