Paxful is formerly known as EasyBitz. Based in New York, it is a Bitcoin exchange where you can buy, sell and trade Bitcoins. You can use any currency funding options such as US dollars and Bitcoins. The exchange accepts bank cash deposit, My Cash, PayPal and Western Union for users in funding their accounts. The transaction fee is at 1% charge. It features a Bitcoin wallet with 2-factor authentication, multi-signature support, and merchant tools.
The following are the four ways to fund your wallet in the Trade Chat:
1. Gift Cards
There are several popular gift cards that are currently accepted by Paxful vendors. These include OneVanilla, Amazon, Target, Walmart, Bestbuy, Gamestop gift cards. For your first time funding and small amounts earnings, gift cards are a great way to start from 1 USD to 20 USD.
The minimum amount for every offer is the smallest you can get on the gift card. Buy a gift card and use Cash only and Save receipt. Vendors will request cash receipts to prove you own the credit card used. You upload the picture of cash receipt at the trade chat. Vendors will give offers to your gift card and you can accept them by clicking on the BUY button and just follow instructions. Once you have confirmed the transaction, Bitcoins will be sent to your Bitcoin wallet and you can ask questions to vendors if needed.
2. Cash deposits
Vendors allow you to deposit cash in their bank accounts. Some of these banks are Bank of America, Wells Fargo, Western Union and Moneygram. You can trade with these vendors and they will give you their account number and name. Deposit your cash to the nearest bank and upload your receipt in the trade chat and confirm payment. You will be prompted with how many Bitcoins your cash deposit is equivalent. Wait for the Bitcoins to be sent to your Bitcoin wallet.
3. Paypal and Web Wallets
You can buy Bitcoins through Paypal, Google Wallet, Interac Transfer and Serve. Look for a vendor in the Trade chat who accepts Paypal. Then, click BUY and indicate how much will you spend. Note the equivalent amount of Bitcoins that will show. Follow the vendor’s instruction. Ask them questions in the Trade chat if necessary. Confirm your payment only after you have read and followed the instructions. Once confirmed, your Bitcoins should arrive in wallet not later than three hours. If a problem exists, you can click dispute and you will be given help by a moderator.
4. Debit, Credit, and Bank cards
Some vendors take a risk in accepting prepaid VISA, American Express, and Mastercard and they instantly give bitcoins. The charge is more than the usual to make up for the risk of having payments from stolen cards.
Find an online vendor with a good reputation and price and start trading with them. Again, confirm payment only once you followed their instructions carefully. Wait for you Bitcoins to arrive and ask them questions in the Trade chat when needed. Another great exchange which boasts of very secure transactions is the Winklevoss creation Winkdex.