Welcome, here we will describe, step-by-step, how to buy Bitcoin on Paxful with a gift card.
You can apply these instructions on any payment method on Paxful.
Paxful is a peer-to-peer bitcoin exchange and the big benefit with such an exchange is that the peers (buyer and seller) can agree on how to transfer the fiat money.
By being a peer-to-peer Bitcoin exchange Paxful can offer over 300 different ways to buy Bitcoin.
You need to accomplish the following steps on Paxful
- Sign up and create an account
- Login and get verified (see verification requirements)
- Login to Paxful and find sellers accepting gift card as a payment method
- Find a seller that is accepting you
Step 1: Sign up and Create an Account with Paxful
Lets get started and sign up with Paxful to create an account.
Use our link and once you are on the Paxful site, click “Create Account” in the header menu.
You only need an email to create an account
Step 2: Login and get verified with Paxful
Once you have registered you probably want to verify yourself on Paxful.
Below, you can see the different verification limits on Paxful and the trade limits.
When you want to get verified you click on your username in the upper right corner and go to “Verify Me” which is probably colored red.
Here is a video on how to accomplish the verification process with Paxful. The video was created by Paxful and is very helpful on how to finish the KYC procedure.
Step 3: Login to Paxful and Choose Gift Card as Payment method
Now its a great time to login to Paxful and find a seller who is willing to accept your gift card.
Once logged in to Paxful, click “Buy” in the header menu and “Bitcoin” in the following drop down menu.
After this, you click on “Show all” in the field that says “Add any payment method”.
Now, you will see a screen similar to the screenshot below.
Here, you can choose any payment method but in this guide we go for a gift card.
To buy Bitcoin with PayPal is also very popular on peer-to-peer exchanges.
Step 4: Find a Seller on Paxful that is Accepting you as a Buyer
Now we are almost done but you must find a seller on Paxful that is willing to accept you as a buyer with regard to your profile.
In the screen shot below you can see some sellers accepting Amazon gift card as a payment method.
However, you can also see that several sellers doesn’t accept us as buyers since we are not verified with Paxful yet.
You can get the following information about the seller already in the search result.
- Thumb up: Number of positive feedback
- Green dot: How long time ago the user was logged in
However, if you click on the user you can get a lot more information as we have described in the next screenshot.
As you can see in the screenshot below you can get all necessary information about the seller.
There are all verification details and all transaction history. Also, you can see all current active offers.
Once you have find a seller fulfilling your criteria you just click buy and follow the instructions given by Paxful.
Paxful VS LocalBitcoins
Paxful and LocalBitcoins are both peer-to-peer Bitcoin exchanges. However, they are a bit different and you should know about these differences before you choose one over another.
- LocalBitcoins have existed for a longer time and have a larger trading volume (even though Paxful is growing faster)
- Paxful has over 300 different payment methods while LocalBitcoins only can offer around 100.
- Paxful has a much more modern interface.
- Paxful doesnt charge any fees for the buyer but charge 0.5-5% for the sellers. Localbitcoins charges a flat 1% for the maker.