Paxful offers peer-to-peer bitcoin trades

Count me among the many fans of bitcoin. I've owned fractions of bitcoin for about two years and I've earned a few dollars as I watched the bitcoin value appreciate.

I also think cryptocurrency in general and bitcoin in particular will play an increasingly important role in global commerce and finance.

What would make that happen more quickly is an easy way to buy and sell bitcoin. That’s where Paxful comes in.

Today, bitcoin owners typically need an account with a bitcoin exchange and a digital “wallet,” an app that keeps track of coins held in their account. When you want to buy bitcoin, you put money in the wallet and place an order through the exchange.

Paxful takes some of the friction out of that process by linking buyers with private sellers, sort of like eBay, and by allowing members to purchase coins using a variety of financial resources. Members can buy bitcoin using PayPal, Venmo, debit cards or the OneVanilla gift cards sold in drug stores. Paxful even accepts Amazon gift cards and iTunes cards.

Paxful supports bitcoin sellers with an escrow system and an affiliate program that lets sellers earn 2% on each sales. Paxful takes 1%.  

For more details, watch the video below, visit the Paxful website and follow @paxful on Twitter.

z

Browse More Articles

Tweet

Written by Ric Manning

Follow me on Twitter @ricmanning and read my technology columns at My Well Being.