Buying Cryptocurrency

Beginning July 1, 2022, income tax law in India will require income taxes to be paid for the transfer, meaning the sale or exchange, of any virtual digital asset (VDA) such as cryptocurrency. Anyone who purchases cryptocurrency from a buyer located in India will be required to pay a 1% tax on the sale, regardless of where the buyer is located.

This tax isn't collected or remitted by Paxful, as all members of our community are responsible for reporting their income to the appropriate government agencies and paying any applicable taxes. For more information about this change check out our blog post. 

If you'd like more information about tax law or your specific circumstances, you'll want to contact a legal or tax professional.

So you've signed up for Paxful - welcome! Time to start trading! 

We know that choosing an offer can be challenging at first. Which one do you pick? Who can you trust?

You'll now be able to find offers that have been verified by Paxful from trusted members of our community.

How do I use Paxful Verified Offers?

When searching for offers in the Marketplace, enter your search criteria, like the type of cryptocurrency you'd like to buy, your payment method and currency, and how much you'd like to purchase.

To make sure you're only seeing Paxful Verified Offers, you'll want to click the toggle for this option.

You can then click 'Find Offers', and you'll be shown the offers that match your criteria. All of these offers have been verified by Paxful, and the sellers are in good standing in our community. 

Happy trading!

In this guide, we'll teach you how to buy your first cryptocurrency on the Paxful marketplace in three simple steps. If you want to create your own offer, please see our article on creating offers. 

Video

Here’s a short video on how to buy Bitcoin instantly:

Step 1 Setting up search requirements

1. Create an account or log in to your Paxful account, hover over the Buy arrow, and click your preferred cryptocurrency.

The page with offers to buy cryptocurrency appears.

2. Click Show All or Any payment method field and select your preferred payment method to buy crypto on the dialog box that appears.

Alternatively, click View offers for all payment options to see the list of all payment methods available.

3. Click Any currency and select your currency from the list. Enter the amount you want to trade in the Any amount field.
You can leave the Any amount field empty if you do not have any specific amount in mind.

4. Select your country from the Location list.

5. Click SEARCH FOR OFFERS. The offer list is updated according to your search requirements.

Step 2 Finding an offer

1. Browse through the list of offers.
The list begins with offers that have:

• Sellers with the best rating and reputation.
• Sellers who are the most active on the platform and are ready for instant trade.
• The most profitable margin.

Check the tags and labels for additional information about an offer. When you find an offer you like, click Buy.

The Offer page appears.

Study all details of the offer such as:

• Buying limits — is the offered amount neither too low nor too high?
• Seller’s rate — does it look profitable for you?
• Time limit — will you manage to execute the payment within this timeframe?
• Offer terms — is the seller requesting additional documents or having specific requests as part of the trade procedure?

2. Enter the amount you are ready to trade in the traditional currency field or cryptocurrency field. Click BUY NOW.
You can click Take a Tour to receive a walk-through of the process in case you have any questions or doubts.

The Trade chat page appears.

Step 3 Trading

1. Discuss the necessary details with your partner using our trade chat and follow their instructions carefully.

2. Make the payment.
After making the payment, click I have paid.

The Self Declaration dialog box appears.
3. Click Yes, I have paid.

The seller releases the cryptocurrency from the trade escrow to your Paxful wallet. At this time, the trade is now completed successfully. 

Check our tips for buying cryptocurrency for more information. In case if you want to sell cryptocurrency, explore the following guide.

Buying cryptocurrency can be tough at first, so we've prepared a guide to get you started and help you complete a trade on Paxful.

The minimum trade amount on Paxful.

If you’re buying Bitcoin, the current minimum is 10 USD or its equivalent in other currencies. If you’re selling, then the minimum is 0.001 BTC.

The seller’s reputation and activity.

A seller’s reputation is displayed with a green thumb.  This is the total of all of the positive feedback the seller has received.

Clicking on the seller's name will show their full profile, where you can see how much negative feedback they've received in addition to the positive. You can also see their location, all of their active offers, and other important information about them.

 
Pay attention to each type of feedback: positive and negative.
For example, despite having more than 10,000 positive feedback scores and 1000 negative feedback, you should still be cautious about such a user. Pay attention to the percentage of negative feedback in relation to the negative and positive ones. Also, do not forget to check for how long a user is present on our platform.
It is also much better if the seller is ID-verified. This means that we have checked his documents and background.
Additionally, check when the seller was last seen online on Paxful. This will help to make sure that you will have a quick trade without any delays from the seller’s side.

Always read the terms of the offer and the seller's instructions before you start a trade.

Sellers should mention what they expect and what you will need to provide. For example, for gift cards, many sellers require a receipt showing that the gift card was bought legally and also to establish that you are indeed the owner of the gift cards. If this information is requested and you cannot provide it, then it is better not to proceed with the trade. If you can provide all the requirements, then make sure you have everything ready before you start the trade.

Be aware of the price.

The Bitcoin price on Paxful is never equal to its official market rate as sellers charge a fee to convert traditional currency into Bitcoin. The price of the fee varies among sellers and depends on who you buy from. So be on the lookout for the best deals. The offer page always includes the rate of each seller. What should interest you the most is how much you get on dollar. The higher the number, the more profitable the trade will be for you.

Click the Paid button only when you have actually paid.

Once you’ve clicked the Paid button, the countdown timer stops and the order can no longer expire. This is important because if you had sent the seller the payment info such as a gift card code and the offer expires, then the escrow is released and you won’t get your cryptocurrency. The Paid button also provides security from dishonest or forgetful sellers. If you click the Paid button and you haven’t paid, the seller might think you’re a coin-locker or someone trying to scam them. Be sure to click the button only once you’ve paid to prevent complications.

Don't cancel the trade after you've already paid.

We know that problems sometimes arise during trades, but it's important to never cancel the trade after you've already paid the seller. If you've paid for your crypto but something has gone wrong, you can start a dispute! Beginning a dispute brings a Paxful Moderator in to help with the situation. If you cancel the trade, Moderators aren't able to help, and getting a resolution will take longer.

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 sellers used codes, you will be reported and banned from trading on Paxful as it is not only a waste of your own time but also that of others. Remember to only use gift cards you have bought yourself.

Using third parties for making 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 the cryptocurrency is not allowed and can be considered as a scam.

Always 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 seller 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 cryptocurrency is by starting a new trade for the difference. Seller’s ranges may not meet that amount or the seller may take down their offers or go offline.

 Never ask the seller to release the cryptocurrency first.

This is grounds for an instant ban as it indicates a scam. We have a trade escrow service so you know the crypto is there and waiting for you once you complete the payment.

 Be polite to sellers.

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.

 Not Interested? Cancel!

If you are no longer interested in the trade and have not yet paid the seller, feel free to cancel the trade. It will free their escrow and let them continue to trade with others who are interested. If you don’t cancel the trade and leave it hanging, the seller will have to file a dispute or report you, which will probably result in you getting negative feedback. You can see all of your active trades on your dashboard. Click Chat to open the trade, and click Cancel to cancel them.

Also, remember that any price negotiation is strictly forbidden. If you do not like the offer, do not insist on changing the price in the same trade. Just start a new trade with new values to avoid any disputes or misunderstandings with the seller.

Paxful allows you to trade cryptocurrency for in-game items from popular video games such as skins, weapons, game balance, and more. Here’s everything you need to know about it.

Before trading

Before you start buying cryptocurrency for in-game items, make sure you have the means to prove if the item was actually transferred to your trade partner. Whether you choose a game currency, boost, or skin, you must ensure you have the means to verify the transition of the item.

Trading

Searching for an offer

The first step to buying cryptocurrency for game items is to look for an offer that accepts this type of payment. You can also specify the amount you wish to buy and the currency you prefer.

Choose the best rate of cryptocurrency to have the highest profit possible. Also, pay attention to the reputation of your potential trade partner. And finally, read through the offer terms and trade instructions carefully. 

Talk to your trade partner in the trade chat. Clarify how exactly the in-game item will be delivered and decide whether your trade partner is okay with the product before proceeding. 

Creating an offer

To buy crypto for game items, you can also create your own offer.

Here are a few things to keep in mind:

• Set a margin you find profitable as no negotiations are allowed during the trade.
• Write clear offer terms and instructions.
• Use offer labels to highlight essential information such as the item type and the name of a game.
• Consider including FAQs section—think what questions trade partners may ask.
• If necessary, mention the following:
• the game server where the exchange should take place;
• will the delivery happen “face to face”, via game mail, or any other in-game exchange channel;
• required game character level, etc.
• Be clear about what proof of payment you can offer to your trade partner, for example, screenshots of an in-game transaction.

Once you’ve created and published your personalized offer, wait for a seller to start the 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 on the trade chat, and proceed accordingly.

Completing a trade

Once you have provided all the documents requested by the seller, click Paid. The last step will be for the seller to confirm receiving the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the crypto to you and the trade will be complete.

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.

See our step-by-step guide on how to buy cryptocurrency and tips on how to buy cryptocurrency.

Gold is one of the most valuable commodities whose value increased over time. On Paxful, you can trade your cryptocurrency for gold. Here’s everything you need to know about trading with gold. 

Before trading

Before you start buying cryptocurrency with gold, make sure you have a trustworthy source for the gold. One of the ways to obtain gold is to order it on a website and have it shipped to a specific address. If you decide to use your own private source or to deliver the gold in person yourself, you still must ensure minimal risk.

When you try to pay with gold to buy cryptocurrency, your potential trade partners may request the following as proof to validate the transaction:

• Proof of purchase (a receipt).
• Certificate of authenticity for the gold item.
• Photo of your ID.
• Photo of the actual gold item you are offering.
• The tracking number issued by the parcel service (in case the gold is being shipped to them directly).
  

Trading 

Searching for an offer

The first step to buying cryptocurrency with gold is to look for an offer that accepts this type of payment. You’ll also need to enter the amount you wish to purchase and the currency you prefer.

Choose the best rate of cryptocurrency to have the highest profit possible. Also, pay attention to the reputation of your potential trade partner and choose the location carefully, to ensure that you can deliver the gold to your trade partner. And finally, read through the offer terms and trade instructions carefully. Note that cryptocurrency sellers may request additional verification and have other specific requirements for verifying proof of payment.

Talk to your trade partner in the trade chat. Clarify how you will deliver the gold and whether your trade partner is okay with what you are offering. 

Creating an offer

To buy cryptocurrency with gold, you can also create your own offer.
Here are a few things to keep in mind:

• Set a margin you find profitable and agreeable as no negotiations are allowed during the trade.
• Write clear offer terms and instructions.
• Be clear about what proofs of payment you are willing to present for the gold you possess.
• For in-person trades, be very clear about the meeting location and exchange procedure.

Once you’ve created and published your personalized offer, wait for a seller 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 on the trade chat, and proceed with the trade accordingly.

Completing a trade

Once you have provided all the documents requested by the cryptocurrency seller, click Paid. From this point, you will have 21 days to deliver the gold to the trade partner whether by post or in person. If the seller does not confirm receiving the gold within this timeframe a dispute will start automatically and our moderators will step in for assistance.

The last step will be for the cryptocurrency seller to confirm receiving the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the crypto to you and the trade will be complete. 

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. 

ID and address verification

Another important aspect to consider is your ID and address verification. You must complete your ID verification and address verification to trade with gold. This verification is important to protect our cryptocurrency sellers from any fraudulent activity. Therefore, it is not possible to trade crypto for gold or vice versa without being fully verified on Paxful.

See our step-by-step guide on how to buy cryptocurrency and tips on how to buy cryptocurrency.

Bank Transfers are a popular payment method on Paxful. Learn how easy it is to trade cryptocurrency with automated Bank Transfers.

Before trading

Before you start buying 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.
• Recipient’s account number and full name.

Trading 

Searching for an offer

The first step to buying 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 purchase 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 buy cryptocurrency with bank transfers, 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 seller to start a trade with you. Once a trade has started, you will receive a notification. Head to the trade to see all the necessary details and transfer funds to the account provided.

Completing a trade

Once you have paid the seller and uploaded proof of your payment, click "Paid". Your payment is not confirmed unless you click Paid and if you forget to do so, the trade will eventually expire and the cryptocurrency will go back from the trade escrow to the seller. We’ll also ask you to upload proof of payment. 

The last step is for the seller to confirm the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the cryptocurrency to you and complete the trade. 

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 are some more tips on how to buy cryptocurrency on Paxful.

On Paxful, you can buy or sell cryptocurrency with debit/credit cards, including prepaid cards. Here's how you can complete a trade.

Before trading

Before buying cryptocurrency with your debit or credit card, please make sure that you have sufficient funds on it and that payments will not be blocked due to a daily limit or any geolocation restrictions. 

Trading

Searching for an offer

The first step to buying cryptocurrency with debit/credit cards is to look for an offer that accepts that specific card type you have. You’ll also need to enter the amount you wish to purchase and the currency you prefer.

After you have found a suitable offer, be sure to read the offer terms before opening the trade. This will show you a brief summary of what the seller 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 seller will require from you will vary depending on which specific payment you’ll be using.

Creating an offer

To buy cryptocurrency, you can also create your own offer.
Here are a couple of tips:

• Set a margin you find profitable as no negotiations during the trade are allowed.
• Write clear offer terms and trade instructions.

After creating and publishing your personalized offer, wait for a seller 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 and finalize the payment.

Completing a trade

Once you have paid the seller and uploaded proof of your payment, click Paid. Your payment is not confirmed unless you click Paid and if you forget to do so, the trade will eventually expire and the cryptocurrency will go back from the trade escrow to the seller.

The last step is for the seller to confirm the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the cryptocurrency to you and complete the trade. 

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 are some more tips on how to buy cryptocurrency on Paxful.

This article gives you an overview of how to buy/sell cryptocurrency on Paxful using online wallets, such as PayPal and Skrill.

Before trading

Before buying cryptocurrency with your online wallet, please ensure that you have sufficient funds on it and that your transaction will not be blocked due to your daily limit or other geographical restrictions. 

Trading

Searching for an offer

The first step to buy cryptocurrency with online wallets is to look for an offer for the online wallet of your choice. You’ll also need to enter the amount you wish to purchase and your preferred currency.

After you find a suitable offer, read the offer terms before opening the trade. This will show you a brief summary of what the seller requires from you regarding the payment.

Once you have started the trade, a more detailed set of instructions will appear. These are called trade instructions. The seller’s requirements may vary depending on the online payment you’re using. For example, online wallets such as PayPal, Skrill, and Neteller will normally require an image of your ID.

Creating an offer

To buy cryptocurrency with online wallets, you can also create your own offer.
Here are a couple of tips for your offer:

• Set a margin you find profitable as no negotiations during the trade are allowed.
• Write clear offer terms and instructions.
• Make it clear as to who will be bearing the transaction fee if any.

After creating and publishing your personalized offer, wait for a seller 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 and transfer funds to the account provided.

Completing a trade

Once you have paid the seller and uploaded proof of your payment, click Paid. Your payment is not confirmed unless you click Paid and if you forget to do so, the trade will eventually expire and the cryptocurrency will go back from the trade escrow to the seller.

The last step is for the seller to confirm the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the cryptocurrency to you and complete the trade. 

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 are some more tips on how to buy cryptocurrency on Paxful.

There are a variety of cash payments that you can use to buy or sell cryptocurrency on Paxful. Here's what you need to know.

Before trading

Before buying cryptocurrency with cash payments, here are a few things to consider:

• Some payment methods such as Cash By Mail or Cash In Person, require full ID and address verification (for amounts higher than 50 USD per trade).
• In case of some disputes, it is very difficult for Paxful to provide assistance — be ready to file a Police report in such cases.

Trading

Searching for an offer

The first step to buying cryptocurrency with cash is to look for an offer that accepts cash as payment. You’ll also need to enter the amount you wish to purchase and your preferred currency

When you find the offer that suits you, be sure to read the offer terms before starting the trade. This will show you a brief summary of what the seller requires from you regarding the payment.  In the case of Cash In Person, the offer terms should provide a brief list of meeting preferences.

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. Usually, for cash trades, sellers will require a teller receipt from you. If at any point during the trade you feel confused about the instructions, feel free to send a message to the seller via trade chat. They should be able to help you with any questions that you may have.

Creating an offer

To buy cryptocurrency with a cash payment, you can also create your own offer. Here are some things to consider:

• Set a margin you find profitable as no negotiations during the trade are allowed.
• Write clear offer terms and instructions.
• Make it clear how you provide proof of payment and how much time you need to conduct the payment.
• In the case of Cash In Person, state clearly, where you want to meet.
  
  

After creating and publishing your personalized offer, wait for a seller 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 and make the payment.

Completing a trade

For a Cash In Person trade, once all the details have been settled, it’s time to meet up with your seller. Go to the specified location and give the cash to the seller. Once this is done, click Paid and wait for the seller to release your cryptocurrency into your Paxful wallet.

Note that in the case of Cash By Mail, the trade may require a lot of patience from both sides.

With other cash payment methods, the payment process itself is usually quite simple. In any case, always make sure you have the correct details of the recipient, all possible proof of making the payment, and remember to click the Paid button in the trade chat.

Once the seller has released BTC into your wallet, the trade is complete.

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 are some more tips on how to buy cryptocurrency on Paxful.

Paxful allows you to buy cryptocurrency with other digital currencies or altcoins. This article will show you exactly how to do it.

Before trading

Before buying cryptocurrency with digital currencies, make sure you have enough coins on your wallet. Also, make sure you have studied all specifics related to the cryptocurrency you chose and be aware of any possible transaction limitations or specialties. 

Trading

Searching for an offer

The first step to buying cryptocurrency with digital currencies is to look for an offer that accepts that specific cryptocurrency you’re looking for. You’ll also need to enter 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 seller 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 seller will require from you will vary depending on which specific online payment you’ll be using.

Creating an offer

To buy cryptocurrency with digital currencies, you can also create your own offer.
Here are a couple of tips for your offer:

• Set a margin you find profitable as no negotiations during the trade are allowed.
• Write clear offer terms and instructions.
• Make it clear which side is bearing the transaction fee if any.

After creating and publishing your personalized offer, you have to wait for a seller 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 and transfer funds to the wallet address provided.

Completing a trade

Once you have paid the seller and uploaded proof of your payment (transaction number), click Paid. If you don’t click it, the trade will eventually expire and the cryptocurrency will go back from the trade escrow to the seller.

The last step is for the seller to confirm the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the cryptocurrency to you and complete the trade. 

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 are some more tips on how to buy cryptocurrency on Paxful.

Paxful allows you to buy or sell cryptocurrency with gift cards. This guide shows you how and what types of gift cards are supported.

Before trading

Before buying cryptocurrency with gift cards, there are a few things to consider:

• You can sell cards that are in your personal ownership.
• Make sure there is a balance on your card.

Trading

Searching for an offer

The first step to buying cryptocurrency with gift cards is to look for an offer that accepts your gift card type. You’ll also need to input the amount of cryptocurrency you wish to purchase and the currency you prefer.

When you find the offer that suits you (looking at how much cryptocurrency you’ll be getting on the dollar and the reliability of a seller), be sure to read the offer terms before starting the trade.

Once you have started the trade, a more detailed set of instructions will appear. These are called trade instructions. In some cases, sellers will have a step-by-step guide for you to follow.

Creating an offer

To buy cryptocurrency with gift cards, you can also create your own offer. Here are some things to consider:

• Set a margin you find profitable as no negotiations during the trade are allowed.
• Write clear offer terms and instructions.

After creating and publishing your personalized offer, wait for a seller 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 and finalize the payment.

Completing a trade

Once you have paid the seller and uploaded proof of your payment, click Paid. Your payment is not confirmed unless you click Paid and if you forget to do so, the trade will eventually expire and the cryptocurrency will go back from the trade escrow to the seller.

The last step is for the seller to confirm the payment. Please be patient because this may take some time. Once the seller has confirmed the payment, they should release the cryptocurrency to you and complete the trade. 

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 are some more tips on how to buy cryptocurrency on Paxful.

Additional tips

1. Most sellers accept only gift cards that have been bought with cash, so be ready with a picture of the receipt, sometimes the image of packaging may be also requested.
2. Most sellers accept only gift cards that have a denomination printed on the card ($25, $50, $100, and so on). Many also do not accept anything over $100. Remember to read their offer terms and instructions carefully to make sure that you have the right kind of card.
3. Make sure that the picture of your card is clear and legible, otherwise, sellers can reject the 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. Remember to click the Paid button as soon as you have uploaded everything according to the seller’s requirements. This will prevent the trade from expiring and it will prevent your card details from being stolen.
7. Brokering of gift cards is strictly prohibited and goes against the Paxful Terms of Service. Brokering refers to buying the gift card from someone else and then selling the card again on Paxful. You are allowed to sell only the cards you purchased yourself. Once you sell the card and receive your cryptocurrency, you should not use the card anymore. If you are caught brokering or trying to sell used cards your account will be banned.

The price of Bitcoin relative to the dollar changes constantly every day and determines how much you get from trades on Paxful.

The amount of bitcoin you get also depends on whom you buy it from. Some Paxful sellers will sell you bitcoin with only a 5% margin, while others may set a margin as high as 50%. It is entirely up to the seller to set the price and you can choose to accept their terms or find a better offer that matches your expectations.

Why is the price of bitcoin on Paxful not equal to the international rate?

While buying BTC, the price of bitcoin in an offer is not always equal to the official international rate. This logic is similar, for example, to buying American dollars for British pounds. Buying and selling fiat and cryptocurrencies is a free market where buyers and sellers can set their own prices and earn a profit for their time and service. Each seller sets their own price as he provides others an opportunity to actually make the exchange.

Who sets the price?

On Paxful, the market price of bitcoin is calculated as an average of the rates as found on three different exchanges (Coinbase, Bitstamp, and Bitfinex). This is the rate that most sellers will use when you try to buy bitcoin. However, on Paxful, sellers can define their own price. The price is usually slightly higher than the exchange price because of the convenience and speed you enjoy while trading bitcoin. The ultimate price of bitcoin is entirely up to the seller, and it is your responsibility as a buyer to look for and identify the right offer for you. 

How do I know the price of bitcoin and the amount I will receive?

Look at the price/rate of each seller's offer. The lesser the price, the more bitcoin you get for the money you pay. If you want to know the current exchange price, check Bitfinex, Bitstamp or Coinbase and then compare it to the price quoted by the seller. 

On Paxful, you can see how much you get on the dollar under Rate per bitcoin. It is always based on the  US dollar as the bitcoin price, before it gets converted to any other currency, is set in USD. 

Example:

You choose an offer to buy bitcoin with bank transfer at a rate of 10,673.9 USD with a fee of 5,2%. This means for 1 USD of your bank transfer you get approximately 0,95 USD worth of bitcoin.

Let’s say you are willing to pay 100 USD to the seller. This means you get 95,1 USD worth of bitcoin which is 0.00936865 BTC.

Is this trade profitable? If all other bank transfer offers have a less profitable margin then this trade would be a good idea. The profit or loss of a trade depends on the performance of bitcoin in the days following your purchase. If the bitcoin price goes up, then you will be able to sell it and make a profit. If the price goes down, you may incur a loss if you try to sell it.

Cryptocurrency trades are not always instant and the duration of the trade depends on several factors such as:

• Payment method. Some payment methods take more time than others due to the time needed for the payment to be processed or any verifications that may be needed between the buyer and the seller.
• Availability of the seller. Although offers are published and active, the seller may not always be online. 
• Offer terms and instructions. Some sellers have specific conditions and steps for you to follow which may take some time.

Actions to speed up your trade:

• Read the terms of the chosen seller before starting a trade. Go through the terms carefully to ensure that the deal matches your needs.
• Chat directly with the seller. Cryptocurrency sellers will often reply to inquiries directly, saving both your and their time.
• Choose offers with sellers who are online. When the seller was last seen online is clearly shown under the seller’s name.

Here are some tips on buying cryptocurrency to improve your experience on our platform.

Paxful uses "market rate" on some currencies instead of “bank rate” because the latter is usually less favorable. Argentine Peso and Nigerian Naira are some of the currencies that use the market rate on Paxful to help communities make the most out of their currencies.

For these currencies, it’s important to remember that when you’re trading on Paxful, the rate may be different than what you see on other platforms.

To see the price of BTC on Paxful in your currency, check out this page.