How To Buy Bitcoin P2P – Step By Step Guide
What is Bitcoin?
Bitcoin is a peer to peer electronic payment system created by an unknown cryptographer named Satoshi Nakamoto in 2009. Bitcoin is a decentralized cryptocurrency with its decentralized network of nodes and it can not be controlled by any central authority or any government.
How To Buy Bitcoin?
You can buy bitcoin peer-to-peer (p2p) from any bitcoin seller and hence in order to find a bitcoin seller you can use some p2p platform like Paxful.
Paxful is a Peer to Peer Bitcoin marketplace where bitcoin buyers and sellers connecting together. It was launched in 2015 and has headquarters in Wilmington, Delaware.
It allows buyers/sellers to chat with each other where they can complete their trades easily by sharing the required info.
Steps To Buy Bitcoin On Paxful
Create an Account on Paxful
The first step is to create an account on the Paxful website. Click here to go to the official website of Paxful. A form will appear on your screen. You need a valid email address and password to create an account.
We recommend you to choose a strong and unique password.
Now follow the steps given below to buy bitcoin on Paxful:
Step 1– After creating an account on Paxful
Step 2– Click on the Buy Bitcoin tab from the menu bar or visit URL https://paxful.com/buy-bitcoin
Step 3– Now you will see many offers from bitcoin sellers with different payment conditions, So select the best one that suits well to you. You can also see a green thumb up icon on every seller. The green thumbs up number show that the seller has done good trades and buyers are satisfied with their behavior. Always choose a seller with a good reputation.
Step 4– After selecting a bitcoin seller’s offer, enter the bitcoin amount you wanted to buy and then click on the Buy button to proceed further
Step 5– Now you will be directed to escrow where you can chat with the seller and can share payment details or instructions to each other (buyer need to upload the screenshot of payment by clicking on Upload button)
Step 6– After you complete your payment to the seller then you need to upload the payment receipt and also need to click on the Paid button as well as request the seller to release your bitcoin.
Step 7– Now after confirming your payment, the seller will release your bitcoin.
Step 8– Now, go back to the wallet section by clicking on the Wallet button shown on the top menu and check your balance in your wallet. Your bitcoin will be shown in your wallet.
Users can send Bitcoin to other Paxful accounts for free. Paxful allows the free internal transfer (5 transactions per month).
Step 9– If you didn’t saw your bitcoin in your wallet then you can also contact the Paxful support team.
You will get your payment transfers into your account instantly within 1-2 minutes after BUY/SELL bitcoin on Paxful.
Paxful has a rating system for users where you can easily find the most legitimate users in order to deal with them for buying and selling bitcoins directly.
Paxful also provides its app available on android as well as on ios devices where users can access all features in the app as well.
Advantages:
- Nice user interface
- Easy to get started, Best for new users
- Instant Buy/Sell,
- Better market rates,
- Active team,
- Good User Reviews
- Good Reputation
- 24h live support,
- A wide variety of payment methods accepted
Important Precautions While Buying Bitcoin On Peer To peer Exchange
- First of all, please be careful before doing any p2p bitcoin deal and do some research before doing any deal like check user reviews, user ranking of the user on that exchange because an exchange is not responsible for any loss in p2p deals.
- You must start with a small amount first and better to buy/sell in a number of trades with normal amounts. Please do not use large amounts in a single trade.
- Only deal with users who are most trusted and have a good reputation in history.
- Only deal with users who are most trusted and have a good reputation in history.
- Follow the above rules honestly.
