Paxful is one of the most advanced and widely available cryptocurrency services to buy cryptocurrencies online. As the number of crypto exchanges expanded all over the world, Paxful was able to become a leader in regions where fiat on-ramp solutions are not available for most users.
The company is now allowing buyers and sellers to get connected and select from a wide range of payment methods. The main difference between Paxful and other crypto services is related to the fact that Paxful is a peer-to-peer cryptocurrency exchange.
Rather than working with advanced matching engines and order books, Paxful connects buyers and sellers that manually select to which person to buy or sell their currencies. Moreover, users can also select the payment method they use for the transaction.
In this guide, we are going to show you how to instantly buy crypto for gambling at Winz.io with Paxful. This is going to take you just a few minutes and you can get ready to enjoy the benefits of using digital assets for gambling and casino games.
This is the first thing you should take into consideration if you want to get access to virtual currencies in the Paxful platform. You will have to open an account. This is a process that can take you just a few minutes. If you come from traditional industries such as banks, then you will realize that the process is ten times faster and easier than most banking solutions. If you are a crypto user, then this is a standard procedure to start using and handling virtual currencies.
In order to create an account on Paxful, you will have to share your email address and create a password for your account. Until here, everything is easy and fast.
As in most online services nowadays, you will have to verify your email account and also your phone number. These are security measures that several exchanges have implemented in order to protect users’ funds and accounts.
How to buy cryptocurrency?
Now the main question is how to buy cryptocurrency on Paxful. Let us tell you that if you already have an account, this is going to be straightforward. You go to the Buy bitcoin page that will appear on the main menu of this platform.
Once you do that, you will be able to select the cryptocurrency you want to buy. As you can see in the image below, the cryptocurrency we have selected is Bitcoin at a price of €40,609.36 per BTC. We can also select the amount of cryptocurrency we want to buy, for example, 0.10 BTC.
On the right side, we see that there is a person offering between €150 and €405 in BTC using the PayPal platform.
Select the coin
You can also select the payment method you want to use. This would help you select solutions such as PayPal, PayID, Pago Fácil, Revolut, and many other solutions. Take into consideration that these options are different from country to country. Each region has different payment methods. Below you can find a list of some of the most popular ones.
Choose a seller from the list
It is worth taking into consideration that if you want to buy large sums of Bitcoin or cryptocurrencies, you will have to pass a security ID verification. This is a standard measure that most of the exchanges require in order to be compliant with regulatory agencies all around the world.
The platform will let you know if you have to undergo KYC and AML processes. Nevertheless, this is not the standard measure for small amounts.
There are different levels of ID verification. An ID verification would allow you to get a limit of $10,000 USD per trade. At the same time, you will need a level 2 verification (ID) In order to withdraw or sell your crypto using your account. Indeed, you will have to undergo an ID verification process if you want to deposit funds on the platform.
It is also worth taking into consideration that to get unlimited trades, you should also verify your address. We know these are tedious regulations but most of the exchanges are being compliant with the regulations imposed on them.
How to sell crypto back?
As we have mentioned before, in order to sell your cryptocurrencies, you would need a Level 2 verification account. Then, the process is very simple. You select the payment method you want to use to receive funds for your digital assets and write down the price at which you’d like to sell your coins.
The steps are the same as if you’d like to buy virtual currencies. Thus, Paxful makes it very easy and simple for users to get access to the crypto market and to gain liquidity if they want to sell their crypto back to cash.