It’s no secret that if you’re in the crypto world, you’ll come across a slew of income opportunities. There are various methods to profit from Bitcoin, and Paxful is becoming popular for that.
What is Bitcoin trading, exactly? To make money, this technique entails buying and trading BTC. It’s especially good if you’re seeking new ways to make money and improve your financial situation.
If you’re a newcomer to the crypto world and have no idea how to trade Bitcoin, you’ve come to the correct spot. Read on to learn how to use Paxful to trade cryptocurrency and how to make it work for you.
What Is Paxful
Paxful is a peer-to-peer website and app for buying and selling cryptocurrencies like bitcoin, etheruem, and tether. It takes over 350 different forms of payment, including Gift Cards. Many individuals use Paxful to sell their gift cards all around the world.
Gift cards can only be sold for bitcoin on Paxful, and vice versa; both cryptocurrency and Gift Cards are automatically put into your Paxful wallet. Gift cards are unquestionably one of the accepted forms of payment for any cryptocurrency. As a result, you can buy any cryptocurrency with your Gift Card and buy a Gift Card with any cryptocurrency, including Bitcoin. However, you can afterwards sell the cryptocurrency and Gift Card for cash.
How To Sell Bitcoins On Paxful
As a Paxful vendor, it’s now simple to sell Bitcoin. You have complete control over your rates, as well as over 300 payment alternatives to receive cash for the Bitcoin you sell. Because Paxful is a peer-to-peer marketplace, you can sell your Bitcoin to over 3 million people all around the world. Our platform makes it simple for both newcomers and seasoned traders to benefit.
Create a Paxful account or log in to your existing one to sell Bitcoin quickly. Simply follow these instructions once you’ve logged in:
1. Create a List Of Prerequisites:
Select your chosen mode of payment and the maximum amount of Bitcoin you’re ready to sell. You can also specify your favourite currency and location. When you’re finished, click Find Offers. You will be presented with a list of appropriate offers from which to choose.
2. Review Offers:
Before choosing an offer, double-check all relevant information about the buyer, such as their name, reputation, level of verification, and rate per Bitcoin. When you’ve discovered a good deal, click Sell. It won’t open a deal just yet, but it will walk you through the buyer’s offer terms and conditions.
3. Start Trading:
If you agree with the seller’s terms and conditions, enter the amount of Bitcoin you wish to buy and click “Start Trading” which will initiate a live chat with the seller. Make the payment and confirm it according to the seller’s instructions.
4. Accept the Bitcoin:
The vendor will deposit the Bitcoin into your Paxful wallet immediately.
The procedures outlined above are simply how to sell gift cards on the internet.
If you also want to gain some cash, you can sell the bitcoin using cash as your preferred payment option.
You may easily sell your gift cards on Paxful by following the procedures outlined above.
How To Sell Your Bitcoins For Profit On Paxful
Let’s get to the good stuff now. We’ll teach you how to make a 20% profit by selling Bitcoin and receiving payment in the form of a OneVanilla Visa/MasterCard Gift Card.
You’ll need a payment gateway because you won’t be able to convert your gift card into cash right away. SquareUp is an example of this. This payment gateway enables you to charge gift cards from your computer, track all types of transactions, and transmit monies to your bank account.
Create a SquareUp account before you start selling BTC on Paxful if you want to cash out gift cards. The next step is to sell your Bitcoin for a OneVanilla Gift Card on Paxful once your payment gateway is up and operating.
1. Make a Buy Offer And Choose a Payment Option:
Go to your Paxful dashboard and select Create New Offer from the drop-down menu. Choose Bitcoin as your cryptocurrency and then pick Sell Bitcoin in the next step.
After that, decide on your preferred payment method. You can choose from seven different payment groups, based on your trade needs. Let’s use OneVanilla VISA/MasterCard Gift Card as an example, and set the desired currency to the Canadian dollar (CAD).
2. Establish Your Trade Pricing And Offer Restrictions:
Choose the Bitcoin exchange rate you want to use. The market price allows the selling price of your offer to fluctuate by the BTC market price, whereas the fixed price locks the selling price of your offer and is unaffected by market fluctuations.
Following that, specify your offer margin. This is your profit margin, which will fluctuate depending on your markup. For our existing payment method, let’s set it to 28%. It’s worth noting that when selling bitcoin for OneVanilla VISA/MasterCard Gift Cards, Paxful charges a 3% fee, leaving you with a 25% profit.
Set your offer trade limit after that. Let’s use a fixed amount of 200 CAD as an example. You can also utilize a range, which allows you to choose between the minimum and maximum trading amounts. If you’re new to trading and want to have a feel for the process, start with a little amount and gradually increase as you gain experience.
You can also specify an offer time limit, which will inform your trade partner of how long they have to complete the payment and click Paid.
3. Complete The Transaction By Writing Precise Trade Instructions:
You’ll be prompted to provide some offer tags in your submission. This will allow your business partners to rapidly understand your needs. You can include things like “physical cards only” or “receipt required,” among other things. By requiring images of genuine cards and receipts, you can ensure that you’re purchasing a gift card from a retailer rather than a reseller.
After that, indicate the your offer offer. This can help your offer extra ordinary, so make it interesting. Write clear and straightforward offer conditions and trade instructions for the most significant element. Your terms will be visible to users who view your offer, so make them basic and easy to understand.
You can also filter your buyers based on their verification level, country, and quantity of completed trades. However, keep in mind that this may limit the size of your market or product. When you’re finished, click Create Offer and wait for a buyer to make the first move.
4. Complete The Transaction By Waiting For Someone To Trade With You:
A live chat will appear after a trade has begun. This is where you and your buyer may talk about the instructions. You can request photos of receipts, cards, and other forms of verification here.
We’ll use the OneVanilla Visa/MasterCard Gift Card as an example. The first step is to carefully examine the receipt to ensure that the gift card was purchased from a store. You should also double-check the receipt’s legitimacy by looking at the date of purchase and the store’s location.
Next, request photographs of the gift card’s front and back. On the gift card’s website, manually check the amount by entering the 12-digit number on the front of the card, the expiration date, and the 3-digit CVV. After you’ve double-checked the gift card details, go to your SquareUp account.
You can log in to the website or utilize the mobile app. Simply fill in the amount of the gift card you want to charge on SquareUp, in our case, it’s 200 CAD. Then, under Manual Gift Card Entry, fill in the required gift card details. When you’re finished, click Charge.
Following that, you’ll be able to receive the gift card amount in your bank account in two to three business days.
Let’s return to the 28% offer margin we established before. We already explained that there will be a 3% fee for this gift card offer, leaving you with a 25% markup. SquareUp will charge you a 3.4 percent fee if you want to transfer the value of your gift card to your bank account. Overall, selling Bitcoin and receiving payment with a OneVanilla VISA/MasterCard Gift Card would net you a 21.6 percent profit.
Note: Only when you’ve successfully charged the gift card to your SquareUp account should the buyer mark the transaction as paid. Following this, you can release the BTC to the buyer.