Hello friends! This is P. S. Rawat, admin of this website. Today, I’m going to write a review post on Paxful. I really feel that paxful is really something you should know about. It can open a gate for some good money making opportunities for you.
In this post, I will explain – what paxful is, what it offers and what my recommendation is for joining it. Like every other post, this post is also going to be based on an Indian user’s perspective.
So what paxful is?
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What does Paxful offer?
First thing, I want to clear is – Paxful does not offer any money making opportunity itself. But it would be helpful in exploring other money making opportunities. Paxful offers 2 services –
Importance for Indians
Paxful could be an important platform for Indians. I definitely recommend it to join. There are a lot of cryptocurrency based money making opportunities available out there. Most of them are bitcoin based only. You need a bitcoin wallet to withdraw earnings from those platforms. Also, You need a place where you can sell those bitcoins against Indian rupees. And fortunately, Paxful offers both services. I’ll explain it later in this post.
Do you want to try it? Click the button below
How to create a Bitcoin wallet?
You don’t have to do anything special. You just need to register in Paxful. If you already joined Paxful, It means you already have a bitcoin wallet.
In Paxful website, You can locate bitcoin wallet by clicking the “Wallet” button in top menu bar.
In Mobile apps, You can locate bitcoin wallet by clicking the “Receive” button on home screen.”
Bitcoin wallet links with a address. You can use this address to receive bitcoins. You can see this address in wallet section. It would be a alphanumeric code (similar like – 38Mc4HhhVEeaVUcfE1tCzhgJsHvmjGN) or a QR code like showing in the screeshots above.
Wallet address changes after every received transaction. But the old addresses would always remain attached to your wallet.
How to buy/sell bitcoin?
Paxful offers its platform as a free market where users can buy/sell bitcoins from each other. Most amazing thing about paxful market is that they allow several different type of payment method for sending/receiving funds to buy/sell bitcoins like Bank transfer, Paytm, UPI, E-commerce Giftcard etc.
My primary objective in this post is – Guide on selling bitcoins only. Because this is the only reason why I recommend paxful to join. Paxful is a solution to convert bitcoin (by selling) into Indian rupees or Indian goods/services.
So let me explain how to sell bitcoins in step by step :-
PART – 1
Getting ready to sell bitcoins
Step #1 – Go to the wallet section and get the market value (in rupees) of your total bitcoins. You need it in step 2.
Step #2 – Decide how much worth (in rupees) of bitcoin you want to sell. (I recommend to sell bitcoin worth above 1000 rupees. It gives you good offers and options.)
PART – 2
Choosing the best & suitable offer
This is the most important step if you’re selling bitcoins in paxful first time. It’ll give you a good idea of how paxful works.
Step #3 – Click the “Sell bitcoin” button on the top menu bar. You’ll see a “offer form” like showing below.
Step #4 – Click the “Show all” button. Select the payment method where you want to receive money like bank, Paytm wallet, Google pay etc.
Step #5 – Put the amount in rupees (of bitcoin) which you decided to sell in step 1. Choose the currency INR (Indian Rupees).
Step #6 – After filling the form, click the “SEARCH FOR OFFERS” button. It will show up a list of offers from different vendors.
Besides amount and the payment method each offer has 3 other most important factors.
1. Last seen online (very important)
This is the most important factor if you want to sell bitcoins real quick. If buyer is not online since a long time, how can he/she send payment? We highly suggest to choose one of the offer which shows buyer is active. Just like showing in the screenshot below.
Feedbacks/ Likes are given by users to each other when they successfully trade (buy & sell) bitcoins with each other. There are 2 options positive (thumbs up) and negative (thumbs down). So automatically, high number of positive feedback (thumbs up) means the high reputation of buyer.
Although, Paxful is safe place to sell bitcoins but we recommend to choose offer listed by a user with good number of positive feedback.
3. Price difference
This is the another important factor to consider while choosing the best offer. Buyers offer different prices for bitcoins. Remember, Paxful itself does not set the price of bitcoins. Instead, Paxful offers a feature where you can see – What is price difference between market price and buyer’s price?
Upward sign means buyer is offering a price above the market value. Downward sign means buyer is offering a price below the market value. The % amount shows the difference. So obviously, We highly recommend to choose an offer with upward sign with high percentage of difference. See the screenshot above for reference.
Step #7 – Consider the all 3 factors explained above. Based on these factors choose the best offer and click “Sell” button on the right side.
PART – 3
Communicate with buyer
Step #8 – Now a specific offer page will be opened. Read the terms and conditions. Put the amount of bitcoins you want to sell in the form and click the “Accept terms and sell Bitcoin now!” button.
Step #9 – Now from here, the actual communication between buyer and seller starts. You’ll see a “live chat” option where you can share the details to receive money.
PART – 4
Finish the process
Step #10 – Release the bitcoin when you see the payment in your account.
Step #11 – Leave the feedback.