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Description
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Verified Paxful Account working procedure
Paxful.com is a straightforward navigation system, and all of the tools you’ll want to complete your perfect projects are there at your fingertips. Moreover, it has a lot of the same advantages as local bitcoins.
After you’ve made a Paxful record and are prepared to start a trade, you’ll have to choose the computerized money you might want to trade as well as the sum. You will be given a list of a large number of merchants that fulfill your criteria, as well as a more limited list of well-known vendors that Paxful considers to be beneficial.
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Follow the steps below for a smooth transaction
- Go ahead and click ‘Exchange’ to begin a Live Chat conversation with the merchant. Paxful has an escrow built-in to protect customers from con artists.
- The Bitcoin being traded is transferred into escrow when you click ‘Exchange.’ The significance of escrow is that it allows Paxful to take the Bitcoin being exchanged from the vendor and store it for the buyer until the transaction is completed.
- The purchaser can cancel the trade after the Bitcoins have been bonded, but the merchant cannot.
- If the buyer cancels the transaction, the Bitcoins will be refunded to the merchant’s wallet. If the trade continues to run smoothly, the buyer will finally snap ‘Imprint as Paid’ to finish the transaction.
- At that point, the escrow service will deliver the Bitcoins to the buyer. Paxful Bitcoin transactions take about three hours.
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Deposit and receive Bit-coin with a Paxful verified account
Paxful verified account with this complete wallet, you also get a default option Bitcoin address. This speech looks like a long complex password with letters and numbers (both uppercase and lower case) in no apparent sequence.
When other men and women send Bit-coin for the address, it goes into your pocket. This is because Bit-coin transactions are non-reversible and hence, the Bitcoin system should ensure the trade three times until the Bitcoin is discharged into your wallet. Therefore, have patience and give it time. Once the Bit-coin is sent, you should get a notification saying “incoming Bitcoin in confirmations” or “Unconfirmed”. This can take anywhere from 20 minutes to a couple of hours depending on how long the Bitcoin system is.
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Deposit Bitcoin in a Paxful wallet
- Log in to your Paxful account or you can Buy Paxful Account and click Wallet. The Wallet page appears.
- Copy the wallet address from the screen or click the COPY ADDRESS.
- In case the program or ATM you are using to send Bitcoin to your Paxful wallet has an alternative to scan QR code, only scan the QR code from the Paxful wallet.
- Enter your Paxful Account 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.
- Confirm sending Bitcoin to your Paxful wallet.
Await your own BTC to arrive and begin trading as soon as you are ready. You can also check your Bitcoin transaction status.
How to Sell on Paxful
- Log in to your Paxful account and choose your preferred payment mode.
- Browse for the best offers available to ensure you get the maximum returns. When done, click search for offers. Here is where you have to be extra careful.
- Check all important information about the buyer. The information may include name, verification level, reputation of the seller and rate per bitcoin.
- Once you have found the most suitable offer, click sell. This will navigate you through the offer terms and conditions set by the buyer.
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Cryptocurrencies that Paxful Support
Paxful currently supports the buying and selling of Bitcoin. If you’d like to purchase Ethereum or any other altcoins, they’re not available on Paxful at this time. However, if you want a secure way to buy bitcoin with 300 payment methods, visit PAXFUL today! Selling your cryptos for bitcoins is also possible. The coming integration between Paxful and BitMart will offer over 100 cryptocurrencies in one place-Paxful!
Paxful Fees and Exchange Rates
Before buy Paxful account, it is important to be aware of the charges and rates. The fees and rates for Paxful have changed recently. We’re just saying that fines are fines since the exchange doesn’t control the exchange rate in the first place. There was once a normal rate of 1% for sellers; however, we’ve added a few categories.
- Gift Cards 5 percent to Google Play/ iTunes Play and 2% for all other present cards.
- Bank Transfers: 0.1%
- Other payment methods 1 %
Sellers are also accountable for paying the fee when they check out, so you must ensure that the cost is included in your BTC price. In the case of Bitcoin payments, you’ll need to pay 0.0005 BTC each time you make a transfer out of Paxful. The first five transactions are free when you send BTCs to other accounts on Paxful. After that, every transfer costs $1.
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Paxful Security and Support
Paxful’s security and help are not as extensive as per the company’s decision to end the protection of customers to them. There are several strong encryptions available as a trader to safeguard your account.
- Two-factor authentication(2FA).
- Notifications via email.
In the end, you should trade only with certified accounts and, at most, those with lots of positive feedback. Paxful has done a great job of showing a rundown of their profile for everyone who trades.
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However, support is extremely fast to respond, using email and ticket systems as platforms for contact. Paxful also allows contact through social media platforms, for instance, Facebook and Twitter, for urgent inquiries. There is no live chat or telephone support, common in P2P networks. Therefore, you must buy Paxful account to access their service.
Payment Methods
Your convenience is one of our top priorities, that’s why we’ve enabled 400+ ways for you to buy and sell cryptocurrency on Paxful. While some payment methods may be restricted based on where you live, you’ll still have plenty of ways to trade in our marketplace.
Some of our most popular payment types include:
- Bank transfers (ACH, wire transfers, etc.)
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Why is My Bitcoin Transaction Still Unconfirmed?
It can be a hassle if your Bitcoin transaction isn’t confirmed immediately. This article will outline what might be causing delays.
Chances are most of your Bitcoin transactions have been quickly confirmed. It takes two confirmations from the network before your balance is fully available in your Paxful wallet. This is the industry standard for a truly secure wallet. This can take anywhere from five minutes to an hour, depending on the Bitcoin network. However, some Bitcoin transactions can take longer to be confirmed by miners. If you believe your transaction is taking longer than usual to be confirmed it could be due to mempool congestion and fees.
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Mempool and Mempool Congestion
Mempool is short for “memory” and “pool”. It is a way for Bitcoin to store unconfirmed transactions before being confirmed in the blockchain. It can be likened to waiting rooms at a doctor’s office.
Mempool congestion is when there are many unconfirmed Bitcoin transactions waiting to be confirmed to the blockchain by miners, and this is similar to when waiting rooms are full of people to see different doctors. Mempool congestion can be caused by two things:
- Transaction volume is high
This means the number of transactions waiting to be confirmed on the blockchain is high, and the volume of confirmations needed can’t be processed fast enough. This can be likened to when doctors are overwhelmed by the number of patients that are in the waiting room.
- Trade hash decreased abruptly
When the trade hash decreases abruptly, it means that there are not enough miners to confirm each transaction. This is similar to when there are not enough doctors to see waiting patients. Because of this the patients or in this case, the Bitcoin confirmations must wait longer.
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Relations between Transaction Fees with My Waiting Time
It’s a misconception that there is one universal mempool. This is not the case as each transaction is unique and miners have different methods of confirming each transaction to the blockchain. With various fees tied to each unique transaction, miners are likely to process transactions with higher fees faster as they collect some of the fees. If you sent or bought a lower amount of Bitcoin and paid a lower fee, you may have to wait longer.
Necessary steps If My Bitcoin Transaction is Unconfirmed
It’s rare that a transaction never settles on the blockchain, as most transactions will settle within 72 hours. In most cases, Paxful advises you to wait 72 hours before resending the transaction. If the transaction never makes it to the blockchain after 72 hours, your Bitcoin can be found in the wallet it was originally sent from.
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Paxful Launch this Service
Paxful, an international payment service provider that offers Bitcoin and fiat currency exchange services, released an account verification system to users. Using the Bitcoin payment processor, a user would be able to verify his or her identity by adding it as an account on the Paxful website. This means users can log into their account and open a bank account to receive money from the wallet using the secure payments and deposits system.
The service is interesting as it is a direct alternative to PayPal, the largest payment processor in the world. Users can use Paxful to transfer money in dollars and euros through bitcoin exchange to their bank accounts in USA, UK, Australia, Canada, Spain, Germany, Italy, Turkey, Singapore, Sweden, France, Netherlands, Belgium, China, Malaysia, Thailand, India and many other countries. The account verification system is currently a limited feature. It is available only to all new accounts.
According to the official announcement, users must have a valid email address and IP address. With this verification feature, users will receive two payments. One is a straight bitcoin deposit to the Paxful account. The other is the delivery of an instant international bank transfer in euros or dollars to the recipient’s bank account.
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Disadvantages of Paxful
Paxful acts as a peer-to-peer platform, ensuring that transactions are safe and secure. You can also protect yourself by never emailing sellers or texting them to buy anything from you on Paxful because this could lead to scams. The only way for people who don’t know each other in real life would be through the messaging box so they always stay anonymous and keep their personal information private
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