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Paxful: Buy Bitcoin Instantly with Cash, Credit, Debit & Gift Cards Online



Paxful Exchange Review

Ray Youssef and Artur Schaback founded Paxful in 2015. Since then, it has enjoyed the moniker of being the “Uber of Bitcoin,” at least according to the company’s loyal following.

Based in Delaware, USA, the outfit is possibly most famous for assisting sex workers in accepting Bitcoin payments after MasterCard and Visa clipped services to Backpage. At one stage second only to Craigslist, the classified advertising site was seized by authorities in 2018 due to its lax policies that authorities felt enabled prostitution and even human trafficking.

Somewhat reminiscent of LocalBitcoins, Paxful is a P2P Bitcoin buy-and-sell platform, where global users can trade Bitcoin for fiat currency or vice-versa. For Americans, only New Yorkers are prohibited from using the exchange as it currently lacks the city’s specific BitLicense.

Why Is Paxful Better?

Fast becoming a global and sleek platform that is ironing out minor wrinkles as it progresses, Paxful home pages in various countries like the U.S., India, China, Russia and Nigeria sometimes have localized instructions for users.

Traders can purchase Bitcoin using any debit or credit card, an Amazon Gift Card, funds transfer via Paypal, Western Union money transfer or any one of around 300 protocols that enables the purchase of Bitcoin.

This extensive offer alone makes Paxful a welcome exchange and many get onto the exchange by swapping out gift cards and other payments. Onsite, users can employ a handy onscreen calculator to determine what to expect in exchange in any currency trade.

As a peer-to-peer exchange, buyers pay sellers through whichever means is mutually acceptable, from their personal account. Buyers are protected by Paxful that verifies a seller’s eligibility to transact, as well as by a two-step authentication process, military-grade security that is externally audited, and escrow.

In establishing a marketplace that connects buyers with sellers, the company skims off trades to generate income. With over 40,000 Bitcoins traded to date and some 55,000 users, Paxful is different to and smaller than other Bitcoin exchanges like bitFlyer, but fast catching up in volume.

Paxful Into The Future

Growth of the exchange is expected to remain buoyant, especially on the back of its smart accommodation of so many payment methods alongside its P2P approach. For users who don’t wish to leave their homes, most traditional as well as crypto wallets can be employed to settle trades on the platform.

Skrill, Payoneer, PayPal, Serve to Serve transfer, OKPay, PerfectMoney, NetSpend and Paxum are all major online wallets typically employed by buyers and sellers to transact and settle trades on Paxful [].

However, it must be noted that for such a dynamic site, “Instant Live Chat” seems anything but, and there have been moans about the time taken to glean a response from Support – even under situations of extreme duress.

Although there is a good hand-holding experience for newbies where a team member will guide new users through various protocols and transactions, general inquiries via live chat tend to drag. Chat room responses usually take a few minutes between responses, and this is an arena that could be better equipped by the company.

The UI of the exchange’s sites is elegant and uncluttered and moves easily between devices. Showing the thought given to UX, an intuitive depiction and distribution of options greets users and a minimalist menu bar helps keep things simple. The user forum and comprehensive FAQs are also valuable and succinct, and most new users are trading as they wish within minutes.

Paxful Partnership Program and Other Benefits

The exchange has introduced The Paxful Partner Program as an easy way for users to earn snippets of Bitcoin while promoting the exchange to friends. It allows users to earn Bitcoin “passively” and can monetize blogs and other sites while also simply fattening wallets over time.

By sharing their partner link on any social network or by offering a “Buy Bitcoin” facility on their site, users score two percent of every affiliate trade that takes place from their marketing. This aspect is clearly a major marketing and growth drive by the company, as users are immediately equipped with already-prepared buttons, banners and customized links.

The exchange also offers a free wallet facility to users alongside an escrow facility to ensure the legitimacy and success of trades. Only once payment has been confirmed by the seller will the Bitcoin be allocated to the buyer, and the company also acts as adjudicator in disputes.

The Paxful exchange is a great place for new users to dip their feet in and also begin building a reputation as a trusted trader in the cryptosphere, where setting up a new account on the company site is easy.

An automatic setup ensues after a new user identifies themselves via their email address in a purchase. Alternatively, users can fill out a form on the homepage that also registers an account. The option also exists to verify oneself via phone SMS protocols as well as enable subsequent SMS messaging. Most site communication is still sent via email, but a high level of prioritized text messaging can be employed, based on personal preferences.

Buying And Selling On Paxful

There is a minimum amount that any trader can offer on Paxful – 0.001 BTC – regardless of their level of verification. Paxful charges a one percent fee on all sales and this is collected automatically and placed in escrow with the needed funds for a transaction. A useful feature that provides additional reassurance is the exchange’s internal reputation system where users can rate their experience of one another after effecting a trade.

Any vendor that reaches 50 successful trades with at least 20 different peers can apply to be awarded “verified vendor” status. Responsiveness and an overall success score of at least 33 percent are also factored into this title. Buyers avail themselves of the vast number of options on payment when purchasing. Practically, while some preferred combinations go unmet, most users can either sell Bitcoin for a currency they seek or buy with a currency they have on hand.

Although there are no fees accrued by a buyer, payments via less conventional routes attract less favorable conversion rates.

Paxful’s Scam Rumors

A unique yet unwelcome attribute of the site forum is the predilection for users to allege scam attempts against one another. Although it presents as mostly sour grapes, this can be off-putting for new users. Reddit and Bitcointalk are two platforms that have seen threads that warn of the potential for being scammed on the exchange.

That said, while it is most likely that cybercriminals will hover about exchanges like Paxful, security so far has been tight and the company also cannot be held responsible for user errors or misjudgment.

Far more alarmingly, some of the threads contain accusations against Paxful, where funds are alleged to have disappeared without explanation. New users may want to interrogate the company on this issue in order to satisfy themselves of the security measures at play or the successful resolution of these disputes.

Final Thoughts on Paxful Exchange

Paxful does protect its users and the company is adamant that users set up the two-step authentication protocol as well as recommending Google Authenticator. SMS and Authy verification comes as a second-level protection of users accounts. Paxful has partnered with BitGo to secure its hot wallet with multi-sig.

As a P2P exchange, Paxful can seem “messier” than other exchanges rolling on a different model, but the facts remain that with cautious and correct participation, it is entirely possible to buy and sell Bitcoin securely.

To date, there have never been any reports of the site being hacked. Unfortunately, however, chief company officers including the founder were recently arrested in Miami for weapons and drugs offenses, a happenstance that any company can do without.

Nonetheless, Paxful remains a good place for the average Bitcoin holder to add to their collection or dispense with their altcoins. Having embraced the cowboy arena of P2P exchanges and having also stayed the course, the exchange is starting to gain traction as the preferred P2P trading place for Bitcoin. New users will want to watch the surcharges some sellers ask for accepting unusual payment methods, but it remains a quick and user-friendly platform for Bitcoin traders.

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Cryptocurrency Information

Bitcoin Volumes Finally Grow Again and Bitfinex/Tether Issues Spark Systemic Risks, New Diar Report Affirms



Diar has recently published its report of the crypto market for April. According to the company, Bitcoin volumes are finally growing again and the whole situation with Tether and Bitfinex showed the industry some of its systemic risks. DAI fee hikes and stablecoin projects were also highlighted in the report.

Bitcoin Goes Back To Growing Again

The main highlight of the month is, obviously, that Bitcoin is back on the action. After facing lows which started in 2018, the token has finally been able to effectively reverse the trends and have an actual price surge this month, going from less than $4,200 USD to over $5,200 USD during this short timeframe.

With this, the number of on-chain transactions has spiked for three months in a row, since prices started to get some of their value back in March and April. Now, transaction volumes are around their levels in June 2018 when the price of the asset was around $7,000 USD.

However, charts indicate that Bitcoin is yet to find more footing outside of speculative trading, so the bull market may not be as near as some think.

When looking at the volume of the whole quarters, Q1 2019 had lower volumes than Q4 2018, but Q2 2019 started considerably well.

Bitfinex and Tether Start Concerns of Systemic Risks

As you may have heard, Bitfinex was accused of using Tether funds to cover up its losses. According to Diar, there is a 26% shortfall of in-cash reserves to back Tether tokens (USDT). Tether loaned $850 million USD to Bitfinex to cover up losses and its general counsel Stuart Hoegner has affirmed that the company is operating with fewer reserves than the total market cap of the token.

This happened because Bitfinex had the $850 million USD “seized” by Crypto Capital, one of its payment processors. Unless Hoegner is lying, though, the company had the assets to back the stablecoin until recently.

While it is clear now that Tether simply does not have the money to back the funds, people simply keep buying the tokens. Now, instead of all cash, some shares of Bitfinex are being used to represent the rest of the value, which makes the stablecoin enter securities territory for the first time.

Curiously, the markets are all very tolerant now since the prices are still stable but the systemic risks are clear, especially if other companies are to follow Tether’s path.

DAI Hikes Fees Once More

Another situation highlighted by the reports is that DAI has decided to upgrade its stability fees once again as the community is desperately trying to make the prices of the so-called stablecoin go up again. DAI tokens are being sold for less than $1 USD, their official price, on secondary markets.

At the moment, the fees are 16.5%, after increasing three times in only one month. Before April, the fees were only 7.5%. This has resulted in a decrease of 4.9% in the circulation of DAI tokens.

Stablecoins Eye Wider Use Cases

Gemini and Harbor, a A16Z tokenized securities platform, have started a partnership in order to get more clients for the Harbor stablecoin. However, this was deemed “too soon” by Diar, as Harbor does not have any known token right now. The only one the company had was canceled.

TrustToken is also trying to get more stablecoins on its list, especially the ones that are not focused on USD, but on several other fiat currencies like HKD, CAD or GBP instead.

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#DropGold Campaign to Hit Your TV, Here’s A Breakdown of the Underlying Bitcoin Message(s)



Grayscale, a leader in digital currency investing, launched an ad on Wednesday, May 1, telling investors that money should be contributed to Bitcoin holdings as opposed to gold. In a number of interviews, CEO of Grayscale’s parent company (Digital Currency Group), Barry Silbert and Managing Director of Grayscale, Michael Sonnenshein, have since expressed the underlying message of the ad.

The #DropGold Ad

According to news outlet, U Today, the ad starts off with a man holding gold bars in his arm, which he decides to drop. While doing so, a woman also does the same. Throughout the ad, people supposedly have their gold bars stacked in shopping carts, while “losing their gold coins.” Watching what’s about to unfold, the two individuals try to find their way out.

Advertising Bitcoin or Grayscale’s Services?

Despite being the one to have introduced this campaign, Silbert argues that it isn’t entirely about Grayscale services, but rather said services being a result of consumers’ decision. Yahoo Finance has since quoted the following comment made by Silbert himself:

“We do not see this as a Grayscale commercial. For us #DropGold is our ‘Got Milk’. This campaign is first and foremost focused on starting a conversation about bitcoin vs gold. If the ad makes people want to get into Bitcoin, we’re completely indifferent about how they go about doing it.”

Having said this, the commercial is evidently portraying Grayscale as an option, as towards the end, one is told, “Go Digital. Go Grayscale.”

Silbert’s and Sonnenshein’s Arguments Regarding Gold’s Limitations

Silbert believes that this campaign works towards addressing the fact that Bitcoin can serve as an equal asset class as gold, if not better. In particular, he was quoted saying, “But now you have Bitcoin, which, in our opinion, provides all the same attributes as gold – it’s fungible and scarce and you can’t counterfeit it – but the big difference is that Bitcoin has utility. Gold doesn’t have much utility beyond jewelry.”

He further argued that the goal here isn’t to replace fiat currency for shopping purposes, but rather to show the world that Bitcoin does a better job at doing gold’s job and this will be evident in the long run. Although he has acknowledged Bitcoin’s volatility as being concerning, he is hopeful that it will one day serve as both an ideal utility token and store of value.

As for Sonnenshein’s viewpoint, he sees this ad as revealing the “absurdity” associated with gold. More specifically, he said:

“We’re going after a narrative around gold being where investors should go when markets turn south or as a hedge against inflation […] we’re highlighting the absurdity of gold.”

As per The Block Crypto, Grayscale also tries to convince investors that the return earned from redistributing 5% of gold to Bitcoin will be greater than 5% yearly.

What are your overall thoughts on this ad? Did it leave you asking yourself, “Why did you invest in gold? Are you living in the past?” Share your thoughts below!

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Huobi Pro Bitcoin Exchange: Cryptocurrency Asset Trading Platform?



Huobi Pro Cryptocurrency Exchange

Founded in 2013, Huobi Pro allows for a myriad digital currencies to be exchanged, at a 0.2 percent trading commission. Loyal users point to the low fees and stellar service that make the exchange stand out above others.

Although pitched at dedicated cryptocurrency enthusiasts since the site doesn’t accept fiat currencies many who enter the realm on the back of fiat end up at Huobi Pro, largely due to its diverse offering and favorable fee structure.

Huobi Pro in A Nutshell

A victim of China’s clampdown on digital currencies, the company might be registered in the Seychelles, but was originally founded in Beijing. As testament to the broad appeal of the platform, after the Chinese regime effectively banned all things crypto at the beginning of 2018, trading volumes have only grown.

While at first very much a Chinese company looking at the home market, Huobi Pro has been forced to find a wider marketplace on the international scene. Indeed, even prior to the official cessation of altcoins and their trading, the company heard the rumblings in 2017 and took its cryptocurrency interests abroad.

Huobi now provides exchange services to users in over 130 countries. Company offices are located in the USA, Korea, Japan, Singapore and Hong Kong. Although the Huobi Group also owns and manages the Huobi Autonomous Digital Asset Exchange (HADAX), Huobi Pro is more of a pure “login and trade” exchange.

Users can employ network tokens to cast votes on adding new altcoins on HADAX. On the Huobi Pro exchange, a simplified offer encompassing all of the mainstream altcoins greets visitors. Some more popular coins offered are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), NEM (XEM), NEO (NEO), Qtum (QTUM) and Ripple (XRP).

That said, when one actually tallies the number of altcoins available for exchange, it becomes apparent why loyal followers value the site. A marriage of both simple ease of use and diversity in trading, the platform is largely welcomed by newcomers and experienced enthusiasts alike. In the current melee of regulation being contemplated, implemented and tweaked all the while, some users may be precluded from trading on the exchange based on their country of residence.

Huobi Pro accepts the funding of accounts only in digital currencies, and accepts deposits in any of its listed altcoins. Unlike other exchanges that have opted for a midway between crypto and fiat, Huobi Pro traders deal strictly in digital coins at every point of a transaction. Funds need to be withdrawn to a wallet, and fiat users looking to buy in will have to establish a wallet first in order to fund their Huobi Pro trading account.

Traders pay a maker or taker fee of just 0.02 percent using the exchange. There are more detailed offers, worth looking at for daily traders with volume.

Huobi Pro Membership Levels

VIP users get preferential platform trading fees if they buy the privilege with Huobi tokens. The Huobi Token (HT) was never an ICO token, but rather a system token that users only obtain by buying “Point Cards” on the Huobi Pro platform. Point Card is essentially a pre-paid Huobi card that keeps users liquid on service fees. One HT = 1 USD, therefore one “point” = 1 USD. The more points purchased, the more free points are added, although savings on 1000 points, for example, means only 10 HT for free.

Huobi Global minted a fixed total of 500 million tokens, with 300 million employed to facilitate the in-house VIP structure. A mark of the business group behind the platform is seen in their practice of buying back-sold tokens from the open market each quarter. Not only that, but those funds go towards the Huobi Investor Protection Fund (HIPF).

This is a planned fund that will compensate investors who suffer platform disruption and subsequent losses. It’s a tool that minimizes risk, smooths out the market overall and also goes towards protecting investor interests. This transparent and pleasing aspect of the platform is one reason traders have confidence in the exchange, and its popularity is rising worldwide.

By way of example, in order to glean a VIP status, a trader will pay 120 HT a month for First Level membership. This enables a 20 percent discount on trading fees. Running through toward the top end, a pricier option of 6,000 HT a month secures a 50 percent discount on fees. Overall, a diligent trader can optimize the system and come out with a substantial discount on the already low 0.02 percent base offer.

The company charges no fees to deposit funds, but there are withdrawal fees. Although there are reviews online listing withdrawal fees, it appears that, especially within the membership structure, users are advised to ascertain exact fees when establishing their account. Likewise, transfer limits need to established upfront to avoid disappointment later. There exist order size limits on the platform too, again becoming more malleable as one moves up the ranks of the VIPs.

Security And UX On Huobi Pro

All of the standard protocols including two-step Google Authenticator verification are at play on the platform. Unlike many other exchanges that offer a simple crypto-exclusive platform, Huobi Pro will need your personal details in the form of a passport copy and chat room comments are not devoid of complaints, although almost all of them take issue with the structure of the platform and its potential pitfalls. There are few allegations of lost funds or other negligence on behalf of the company. On the whole, Huobi Pro seems to be rubbing off its decidedly corporate ethos onto the exchange – good news for traders overall.

Another serious boon for the cryptosphere as a whole is that over 98 percent of holdings are stored in an offline cold wallet or vault. Imbued with a strict customer service ethic, the platform probably sports the best customer service to date for crypto exchanges. Available 24/7 365, there is a live chat option onsite.

The platform intel is sufficient although newbies might have to scratch to paint a clear picture of how exactly everything works. The FAQs are thoughtful and, again, testament to a polished offering. Huobi used to be one of the biggest Chinese crypto exchanges, based in Beijing. Started by entrepreneur Leon Li in 2013, since the move there has been mutual appreciation of its value. Worldwide users have taken to the exchange, as it too realized that it had global appeal.

Huobi Pro Conclusion

Huobi claims to have exceeded BTC 500,000 in daily trading approaching 2014. Although only in its fifth year, that’s a long time in cryptocurrency. Although frequently accused of embellishing trading volumes, these allegations have never been proven. In comparison to other digital exchanges that have suffered persistent user complaints and even been shut down due to criminal activity, Huobi Pro shines.

As an offering, it has low fees, great diversity and an unbeatable crypto-energy. No trader on the platform feels like they’re missing out on something else somewhere else, by most accounts. Possibly due to their prior involvement in the fintech world, the platform got it right first time around and user numbers prove it. The company Huobi also owns another trading platform, BitYes, more focused on USD/BTC and USD/LTC pairs trading. Great customer service and minimal technical glitches have made it appear positively top-tier, again in comparison to less polished outfits.

With a detailed offering, great client liaison – very unusual for most digital exchanges so far – and no legitimate proof of anything even vaguely dark hanging about them, the Huobi Pro project is recommended. Users are advised to always ascertain costs prior to trading – not hard with the customer support in this case – and sample a platform with small trades before trading greater amounts. To learn more, you can head to their official website:

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