A company that allows visitors to purchase Bitcoin using more than 300 payment methods has reported an increase in the number of transactions completed using US dollars – and states that it is determined to dismantle the problems that people have in gaining and transferring their money freely .
Paxful was launched in 2015 and aims to simplify the purchase of cryptocurrency, an advantage for people who have never done so before.
Cash deposits and bank transfers can be used on its platform – with the company that promises to deliver Bitcoin in less than one hour at an "exceptional price". Crypto can also be received instantly if Paxful customers opt for an online transfer via PayPal and Skrill, as long as they upload their ID for verification.
Debit and credit cards, including those of major brands such as Visa and MasterCard, are another option. That said, the costs incurred using these payment processors may mean that Bitcoin costs on average a little more.
Unlike other exchanges, Paxful also allows its customers to buy Bitcoins using gift cards, allowing them to exchange unwanted gifts for cryptocurrency. Accept coupons from a wide range of retailers, including Amazon, Apple, PlayStation Network, Google Play, Banana Republic, Walmart, Victoria's Secret and many others.
When it comes to these payment methods, Paxful uses a peer-to-peer marketplace where sellers connect directly with buyers. Those interested in exchanging their own Bitcoins with gift cards can specify the minimum or maximum value of the coupons they are willing to pay and set the exchange rate. This creates healthy competition among sellers, as well as providing a choice for buyers.
Paxful says that keeping their customers safe – as well as their money or encryption – is a top priority. The transactions go through an escrow service, with funds placed under the control of an independent third party until all the terms have been met. This helps prevent an unscrupulous vendor from taking someone's gift card or money without delivering the promised Bitcoin.
Disputes can also be raised whenever a transaction is not planned, with an impartial moderator intervening to solve the problem. In addition to these measures, Paxful has a customer support team that can respond to requests 24 hours a day, seven days a week.
The platform has also been proactive in preventing fraud and cyber attacks. Recently, he worked with an anti-phishing company to track down fake apps and websites that claimed to have an affiliation with Paxful.
To give back
In addition to helping the public get their hands on Bitcoin safely and securely, Paxful has made a concerted effort to engage in humanitarian projects that make a difference.
The company is planning to complete the construction of a second school for the benefit of children in the African nation of Rwanda through the #BuiltWithBitcoin initiative after receiving donations worth $ 100,000 in five cryptocurrencies.
With six classrooms, six full-time teachers, toilets and a water well, the school is the first to open up in the area and was created in collaboration with the Zam Zam Water humanitarian organization.
Paxful has courageous plans to build 100 African schools in the coming years – and is also devoted to other philanthropic causes, including providing scholarships to Afghan refugees. Ray Youseff, CEO and co-founder of the platform, said: "We encourage the cryptocurrency industry to contribute more to humanitarian projects.The #BuiltWithBitcoin initiative is an example of bitcoin used as more than a speculative tool, but a testimony of the usefulness of cryptocurrency. "