During the first days of 2021, Bitcoin (the most used cryptocurrency in the world) has reached its historical maximum price of US $ 40,000, this generated that more non-specialized citizens on the subject were curious and wanted to get on to this train. In this note, we show you the basic guide for beginners and the novel method of the Paxful wallet to buy and sell from user to user.
Buying on traditional cryptocurrency exchanges is like going to an exchange house and getting a coin at an officially established price. Business is done directly with the exchange and the prices of cryptocurrencies move according to supply and demand.
On the other hand, in Paxful and through Blockchain technology -which provides security to operations-, you can buy bitcoins from other users directly, with the possibility of negotiating payment methods (various virtual wallets) and prices. Centralized exchanges do not have payment methods like these, they go directly to bank transfers.
Another advantage of Paxful is that it asks its users for fewer requirements when creating an account and starting to buy cryptocurrencies, unlike centralized exchanges, which request more documents.
The user-to-user business
To buy, the user can open a purchase offer with its conditions to attract interested in selling BTC, or can also enter the available sale offers, see which is the most convenient and the one that corresponds to their payment methods. When you open the trade you will have a chat window with the seller where you will be told how to make the payment in a period of 15 to 30 minutes. Once the transfer has been made, you must click on the payment made button and wait for the seller to verify that the money has entered your account. Once this is done, the seller will release the bitcoin to your wallet.
In the event that the user wants to sell their cryptocurrencies, they can create a sale offer with their conditions, or also enter the available purchase offers and in this case it will be the one that will provide the data of the chosen payment method to the buyer of the cryptocurrencies. Once the money is transferred to your account, it will proceed to release the bitcoin to the buyer’s wallet.
When you are new to the business it is advisable to operate with users with a good reputation and positive feedback. Likewise, you should always request proof of payment and release the bitcoins once said proof is available.
Argentines who use Paxful
Currently, the wallet has 41,382 users in Argentina. A 1,900% growth has been reported in 2020 in our country and worldwide the platform achieved a growth of 525% in 2020 (with more than 4.5 million users worldwide).
In 2019 Paxful began operating in Argentina, managing to close that year with more than 1,900 users. It started 2021 with 41,382 and aims to end it by tripling the growth of the past 2020.
USDT (digital dollars) in Argentina
It is a stable currency backed by the dollar, that is to say a “digital dollar”. Many Argentines have consulted the Paxful wallet about this currency due to exchange restrictions and the difficulty of obtaining dollars in the country. As a result, the wallet already offers this digital dollar, thus allowing users to buy from others or transforming the bitcoins that are available into USDT.
Basic guide for newcomers to the world of cryptocurrencies
-What are cryptocurrencies and which are the most used in Argentina?
Cryptocurrencies are digital assets that function as a means of exchange of value and in our country the most used are Bitcoin, USDT (Tether), Ether, DAI and Monero.
-How to start trading cryptocurrencies?
-Create an account on a cryptocurrency transaction platform such as Paxful.
-Verify identity, key to guarantee the safety of buyers and sellers.
-Once the account is set up you can start making transactions.
-Is it safe to operate with crypto?
Thanks to blockchain technology, operating with digital currencies is highly secure, it works as a decentralized network in which all transactions made in a public way are recorded and verified on all the computers that make up said network.
In platforms such as Paxful, users are offered a guarantee deposit, which ensures a fair transaction experience for both parties since when initiating a transaction, the bitcoin from the seller’s wallet is automatically transferred to a temporary safe deposit account where it will be saved. until the transaction is complete.
-What are the requirements to operate?
The only requirements are that the user be over 18 years old and that they make a minimum investment of US $ 3.