Selling Cryptocurrency with Bank Transfers

Bank Transfers are a popular payment method on Paxful. This article will show how to sell cryptocurrency with our automated Bank Transfers.

Before trading

Before you start selling cryptocurrency with Bank Transfers, add your bank account details to your Paxful profile.

Make sure your bank account is ready to make transactions and check if the account has any transaction limits or geographical restrictions in place. Also, consider using a bank that can easily provide proof of payment, with all of the details visible on one page or pdf file.

The required details for proof of payment on Paxful are: 

  • Account holder’s first and last name.
  • Bank’s name and logo.
  • Transaction date, time and status.
  • Sender’s account number and full name.

Trading 

Searching for an offer

The first step to selling cryptocurrency via Bank Transfer is to look for an offer that accepts Bank Transfers as payment. You’ll also need to enter the amount you wish to sell and the currency you prefer.

After you find a suitable offer, you’ll need to read and accept the new offer terms before the trade begins. These offer terms are set by Paxful and outline how the trade should be carried out.

Once the trade starts, the trade chat will be disabled. We now automatically send the buyer and seller’s bank account details to each other, making Bank Transfers even safer and easier. 

Creating an offer

To sell cryptocurrency via Bank Transfer, you can also create your own offer.

Here are a couple of tips for your Bank Transfer offer:

  • Set a margin you find profitable as no negotiations during the trade are allowed.
  • If you’d like to use the old Bank Transfer process and set your own offer terms, choose “Other Bank Transfer” as your payment method.

After creating and publishing your personalized offer, wait for a buyer to start a trade with you. Once a trade has started, you will receive a notification. Feel free to discuss all the necessary details with your trade partner.

Completing a trade

Once the buyer has paid you, marked the trade as Paid and uploaded proof of payment, double-check if you’ve received the payment on your end.

The last step for you is to release cryptocurrency from the trade escrow. Only click the “Release” button if you are absolutely sure you have received the payment.

After a trade

Once the trade is completed, you can leave appropriate feedback for your trade partner. Also, if you like trading with the user, you can add them to your trusted list

Here is some more information on how to sell cryptocurrency on Paxful.

 

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