Unlike a few years ago, buying cryptocurrency is no longer a challenge for ordinary mortals.
The easiest way to buy cryptocurrency is through an exchange. There is a host of them, but here we will confine ourselves to paxful. This platform is ideal for easily exchanging virtual currencies between them. They also provide dedicated wallets that allow sending and receiving said cryptocurrencies to and from outside.
Paxful allows you to send BTC using a lightning network which makes you pay less fee when sending a small amount of BTC unless using the blockchain network
How To create an account
- visit paxful.com and click on register
- choose register with email or register with the number depending and create a password
- once done verify you will need to verify your phone number or email address
How to buy cryptocurrency on Paxful
currently, you can buy Bitcoin, Ethereum, and tether on Paxful. before you can trade or buy crypto on Paxful you will need to verify your account with an id
- if you are using the web version of Paxful then you will need to click on buy and choose the cryptocurrency that you want to buy but if you are on the mobile version then you have to select marketplace
- now choose your payment method and currency. note that Paxful is a peer2peer platform so you will be buying the crypto from people and users with green badges are verified on the platform
- you will see a long list of people on the marketplace, and below their username is their last seen, and besides their username is the amount of positive feedback they have received on Paxful. take note of the image below
- you will also see their limits and their market value in percent. so let’s say you see the limit of 65cedis – 100cedis this means the vendor only sells BTC or any crypto between the number of 65cedis to 100 cedis and you see let’s say 2.91% with an arrow up means the price of the sellers crypto is 2.91% above the current market price. you can also click on the user to know more about the seller
- now you will see a bar that will help you to know the amount of BTC you will receive when you pay in fiat currency. make sure you read about the offer terms
- and click on buy now when you are ready to trade. once you have made the payment click on paid and wait for the vendor to transfer the crypto into your wallet
if you don’t understand anything feel free to let us know in the comment section and we will assist you, please use our link to sign up