Engaging in the growing world of cryptocurrency can be thrilling. As more and more businesses and enterprises are adopting this virtual currency, a significant increase in the trend of the users and traders who buy bitcoin is also seen as the years go by.
If you are new to this industry and you are planning to enter the cryptocurrency sphere, there are few things that you have to consider. So to help you start off with your crypto venture, we will be discussing salient terms for you to check out and be familiar with.
The first thing you have to do is scout for a good and reliable cryptocurrency wallet and exchange where you can store your bitcoin and other cryptocurrencies, and also do trading transactions.
Among the known and most reliable bitcoin platforms that are available today is Paxful. Since its creation in 2014, Paxful has been known as the leading peer-to-peer (P2P) bitcoin marketplace where users can execute cryptocurrency-related transactions such as buying, selling, and trading. It was founded with the goal of making bitcoin easier for everyone from businesses to merchants.
Creating Your Own Financial Passport
With the P2P system of Paxful, your bitcoin engagement can reach all the locations possible. Buying things, sending money, paying bills, and even purchasing the basic necessities are feasible within the platform.
The first thing to do is to create an account in Paxful. Another notable thing that you might want to consider before using your bitcoins is the digital wallet where you will store your coins. Creating an account in Paxful instantly entitles you to a free bitcoin wallet.
This wallet is a safe and reliable place to store and secure your bitcoin. It is an online wallet solution, which provides quality security features and convenience through making your bitcoin available to you from any chosen device, 24/7.
Managing it is also simple. Since it was designed to provide safe and easy navigation, this global blockchain wallet allows you to check your bitcoin balance and directly top-up through Paxful’s Marketplace with just a few clicks.
Launch Your Personal Financial Journey
With Paxful, you can connect to the community of over two million users. There are over 300 payment methods to choose from for every cryptocurrency transactions that you will have. Among these are bank transfer, cash deposit, gift cards, cash in-person, online wallets like PayPal, Skrill, Neteller, and altcoins like Ethereum, Litecoin, Ripple, and others.
P2P platforms allow users to collect, buy, and sell bitcoins without the aid of a third party. These platforms connect the buyer with the seller for them to process their transactions directly. Third-party arbitrators will only enter the process once a dispute is filed.
Other bitcoin exchanges have charges as high as six percent on every purchase. On Paxful, these charges vary per vendor and per payment method. Buyers in Paxful won’t have to pay fees that are adapted in the seller’s escrow fee. This fee is usually at 0.1 percent for Bank Transfers and 1 percent for other payment methods, which excludes gift cards.
Earn Commissions Through Paxful’s Affiliate Program
Aside from these perks, users can also earn a passive income by sharing the platform with other individuals who might also be interested in entering the cryptocurrency world or in bitcoin trading. This is usually done through bitcoin affiliate programs.
Joining Paxful’s affiliate program gives you the chance to earn commissions for every successful trades that your affiliate completes. This program has two tiers—Tier 1 and Tier 2. Your affiliates under Tier 1 are those who directly sign up using your link, while those in Tier 2 are the affiliates who sign up through the referral links provided by one of your Tier 1 affiliates.
You can earn up to 50% commission on the escrow fee every time one of your direct affiliates completes a trade. At the same time, you are also entitled to a 10% commission on the escrow fee when the referrals of your direct affiliates also complete a trade.
This escrow fee is calculated as 1% in all affiliate payouts, excluding those cases where the affiliate fee is below 1%. For the cases where escrow fees are under 1%, the affiliate fees also adjust and is calculated based on the lower fee.
In case your affiliates under Tiers 1 and 2 did a trade with one another, you will receive a 25% commission on their successful transaction. Just feature your Paxful affiliate link in your generated content and advertise it on your website or any social media channels.
Let Your Crypto Trading Begin
Once you have created your very own account on Paxful and you already have your free bitcoin wallet, you may now start buying, selling, and trading bitcoins with other users. Remember that Paxful is one of the most reliable platforms where you can successfully begin your cryptocurrency journey.
Buying bitcoin is convenient on Paxful. You can purchase fractions of bitcoin with an amount that ranges from as low as $1 USD to $30 USD. Purchases with small amounts are also possible through gift cards. There are over hundreds of gift cards available in Paxful. Among these are Amazon, Sephora, Walmart, Playstation Network, iTunes, Steam, ApplePay, Google Play, and a lot more.
Selling bitcoin in Paxful is also simple. However, this also requires being responsible with your trade offers. As a vendor, there are a lot of things to note when doing a transaction. First of this is being knowledgeable about the risks and liabilities that come with trading.
These responsibilities include being responsive to your buyers and being clear about the details of your offer terms and trade instructions. Sharing of contact details off-site and doing off-escrow trades are also not allowed. Doing so will result in banning of your account and not being able to do trades again.
You can earn good reputation scores if you run your trades smoothly and properly. To sum it all up, Paxful allows you to buy bitcoin online, sell bitcoin, trade with secure escrow, build your reputation after every trade, receive your free bitcoin wallet, and earn extra income through the affiliate program.
Checkout Paxful’s Frequently Asked Questions (FAQs) page to learn more about the platform and other tips for buying and selling bitcoin.