Selling bitcoin FAQ

How to put up a profitable sell offer?

3326 views April 29, 2017 May 25, 2017 ray 51

The quality of your offers is the primary factor of your success as a Vendor.

Click on “Buy Bitcoin” and choose “create an offer

  1. Click the SELL BITCOIN button
  2. Choose a currency. You will only get customers for the currency you select. You make different offers with other currencies.
  3. Type in the Payment Method. This is how you want people to pay you for your bitcoin and it is the most important decision in the process. This will determine how much you can ask in terms of a profit margin, the risk of the transaction, how much id and verification you will need to ask for, the min and max range etc.. There are already 300+ payment methods, so make sure the method you want already exists by typing it in first, if it exists it will appear. try typing it in with different variations to be sure it exists. If you make a new method it will take some time for an admin to approve it before your offer goes live. If you make a new method and there is already a duplicate it will never be approved and your offer will never go live. Please take your time here so you save us time and you time.
  4. Type a payment method label. This is the marketing promotional text that will appear next to your offer. For example “Fast Release” “No Receipt Required” etc..
  5. A payment method group is required if you have chosen a new payment method. The four available groups are 1. Gift cards such as Amazon  and Itunes –  2.Cash Deposit such as Western Union or Cash bank deposit. 3. Online Transfers such as PayPal and 4. Debit Credit Cards
  6. Country. You can also limit your offer being seen only by people in a specific country.
  7. Price Margin. This is how much profit you will make by selling bitcoins above market price. For example if the price of bitcoin is $800 USD and you set a margin of 100% then your price for this offer will be $1600 USD. If you set a margin of 50% the price will be $1200 USD. From this price you will pay 1% as an escrow fee to Paxful and the rest you will keep as your profit.
  8. Setting the Minimum and Maximum Ranges. This is the smallest amount you can be paid and the biggest. For example say you are doing western Union and it only makes sense for you to take at least $1000 USD for the trouble and the max is up to $3000 USD so you set it to 1000 min and 3000 max. You could be taking Amazon gift cards and ONLY accepting $100 gift cards so set the min and max both to $100.
  9. Payment window is how long they have to pay you or else the transaction will expire and they will have to start over. 30 minutes is the absolute minimum. This is so you can set a longer window for trades that take alot of time like cash in the mail, check by mail or even some western union transactions.
  10. Offer Terms are what the buyer must be prepared to do and have to complete the transaction. Clear simple bullet points work best. Here is a good example
  11. 1.  Your PayPal account MUST be verified!
  12. 2. You MUST upload a selfie with ID and be making the peace symbol and have a note with todays date written. This is to prove you own the account and are not a hacker.
  13. 3. You send payment first rom PayPal funds, NOT from bank account. I refuse to wait days. I release bitcoins the moment I see them clear my PayPal account.
  14. If you just have a big block of text with marketing text then you will get fewer sales and your offer may be taken down and a strike against your account will be made. Be clear and precise with minimal text.
  15. Trade Instructions are what the buyer must do once the sale begins to give you payment. There can be some repeats from the Offer Terms for example here is an example of trade instructions done right.
  16. 1. Please upload a selfie with ID and be making the peace symbol and have a note with todays date written. This is to prove you own the account and are not a hacker.
  17. 2. Send payment to [email protected]  (this is just a dummy email do not send anything here) and send as “friends and family” in the notes just put “thanks”Make sure you send direct form PayPal funds and have enough to cover the sale. I will not release bitcoins to you if your bank takes days to clear it from PayPal!
  18. 3. Wait for me to release bitcoins to your wallet. Should happen super fast if everything checks out. I reserve the right to refuse to sell to you at anytime if I smell something “fishy” Just trying to protect myself, thank you.
  19. If you do not have trade instructions or poor ones then if their is a dispute you may lose because your instructions were not clear!
  20. Advanced settings. You can also limit where your offer is shown, only to people you trust or users with a certain amount of feedback etc.. More options will be available in the future and we always welcome more suggestions from vendors.

When you are done click the “Create Offer” button. Your offer should go active if you have already chosen an existing payment method and are a member in good standing.

 

Mininum Wallet Amount

For your offers to become visible to the public there needs to be 0.1 BTC in your wallet on top of the minimum amount in your offer. For example, if You’ve put up a sell offer for $100 you need to have $100 + 0.1BTC in your account. This amount is available to withdraw at any time from your wallet but once balance goes below this your Sell offers will not be visible.

 

The Bond

A Bond is required for new vendors to make gift card offers. This protects the buyers from bad vendors taking their codes. A bond of 0.1 BTC is required. You deposit this amount to your Paxful wallet and it is taken by Paxful and held until you decide you want it back and no longer wish to trade here. There is a waiting period of 7 days after your last trade or once you’ve reached 30 successful transactions with different users for the bond to be released.

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