Receiving and Depositing Bitcoin (BTC)

When you sign up for a Paxful account, you get a free Bitcoin wallet. With this free wallet, you also get a Bitcoin wallet address. This address is a combination of numbers and letters (both uppercase and lowercase) in no apparent sequence. 

This address never expires, so just copy it and use it to receive Bitcoin from other wallets or Bitcoin ATMs. You can also generate a new Bitcoin address for extra privacy/security. You can create as many Bitcoin addresses as you want and use them any number of times.

When other people send Bitcoin to this address, it goes straight into your wallet. It’s not always instant. This is because Bitcoin transactions are non-reversible and the Bitcoin network needs to confirm the transaction two times before the Bitcoin is released into your Paxful wallet. Once the Bitcoin is sent, you should get a notification saying “incoming Bitcoin at 0 confirmations” or "Unconfirmed". When that count reaches two, you should see your Bitcoin in your Paxful wallet. This can take anywhere from 20 minutes to a couple of hours depending on how busy the Bitcoin network is.

To deposit Bitcoin to your Paxful wallet:

1. Log in to your Paxful account and click Wallet.

2. Click Receive under your Bitcoin wallet.
Depositing_Bitcoin_.png

3. From there, you can copy your Bitcoin wallet address or use the QR code.

depositing_btc.png

4. Enter your Paxful wallet address into the app, website, or ATM. If you have scanned the QR-code, your wallet address appears on the screen of the app or ATM automatically.
5. Confirm sending Bitcoin to your Paxful wallet.

Warning: Make sure that you are sending Bitcoin and not any other cryptocurrency (Litecoin, Bitcoin Cash, Ethereum, etc.). Such transactions can result in a loss of your funds.

Note:

  • Make sure you have enough funds in the sending wallet or ATM. Be aware of the minimum BTC transaction amount.
  • Remember that the person sending the Bitcoin will bear the transaction fee. Usually, the amount you send, the amount you will be charged as a network fee, the total amount deducted from your wallet are clearly shown to you before you confirm the Bitcoin transfer.

Wait for your BTC to arrive and start trading as soon as you are ready. You can also always check your Bitcoin transaction status.

Additionally, see how to send Bitcoin from your Paxful wallet. If you want to start trading, check out the following guides: creating sell Bitcoin offer and selling Bitcoin.

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