Paxful Kenya (2023): How to Register, Login,Available Wallets, Transaction Fees, and Everything You Need to Know
Looking to get started with Paxful in Kenya? This comprehensive review covers everything you need to know, including how to register, available wallets, transaction fees, and more
Paxful is a popular peer-to-peer cryptocurrency exchange that allows traders worldwide to buy, sell, and trade Bitcoins. With over 300 payment options available, including bank transfers, cash deposits via Mpesa, debit cards, credit cards, gift cards, e-wallet balances, and money transfer services, users can easily buy and sell Bitcoin with anyone on the Paxful platform. In this article, we will review the steps to register on Paxful, the available wallets, transaction fees, and other important information you need to know.
How to Get Started on Paxful
To get started on Paxful, follow these steps:
- Visit Paxful.com or download the Paxful app on your smartphone.
- Click on the "CREATE ACCOUNT" link on the main page.
- Enter your email address, choose a username, and create a strong password.
- Verify that you are human.
- Select "Create an account and free wallet" from the menu.
- After completing and submitting the online application form, a confirmation email will be sent to your email address. Click on the confirmation link to activate your account.
- Once you have created your account, log in and set up 2-factor authentication to protect your account from potential hackers.
Digital Currencies Supported on Paxful
Paxful supports a wide range of digital currencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
How to Purchase Bitcoins on Paxful
Paxful makes it easy to buy Bitcoins. Here's how:
- Log in to your Paxful account and select the number of Bitcoins you want to purchase.
- Select the fiat currency you will be using for the exchange rate.
- Choose one of the many payment options provided, such as Mpesa, for users in Kenya.
- Browse the list of sellers or be directed to the bestsellers based on the web site's criteria.
- Select a trustworthy seller and click "Trade."
Use the live chat feature on the trading website to communicate with the seller.
The seller will provide you with payment instructions. If you decide to proceed, select "Mark as Paid" and wait for the seller to send the coins to your wallet.
Transaction Fees on Paxful
Paxful charges a 1% transaction fee for every trade made on the platform. The seller, not the buyer, pays this fee. In addition to the transaction fee, users may also be subject to payment processing fees, depending on the payment method chosen.
Available Wallets on Paxful
Paxful offers a free online wallet to store your Bitcoins. This wallet is accessed through the Paxful website or app and is secure, with 2-factor authentication available for added protection. In addition to the free online wallet, Paxful offers a range of other wallet options, including hardware and mobile wallets.
Hardware wallets are physical devices that store your cryptocurrencies offline, providing security against hacks and other online threats. Some popular hardware wallet options on Paxful include Ledger and Trezor.
Mobile wallets are digital wallets that can be downloaded to your smartphone and are convenient for quick transactions. Paxful supports various mobile wallet options, including Coinbase, Mycelium, and Jaxx.
Is Paxful Safe?
Paxful takes security seriously and has implemented several measures to protect its users. These measures include 2-factor authentication, email verification, and secure SSL encryption. However, it is essential to remember that no platform is entirely immune to risks, and it is up to the user to take appropriate precautions, such as enabling 2-factor authentication and using strong passwords.
In addition, Paxful offers a user rating system to help buyers and sellers identify trustworthy individuals. Users can view a seller's rating and read reviews before making a trade to make an informed decision.
Paxful is a convenient and user-friendly platform for buying, selling, and trading Bitcoins in Kenya. With a wide range of payment options and a free online wallet, Paxful makes it easy to get started with cryptocurrency trading. While the platform takes security seriously, it is still essential for users to bring their precautions to protect their accounts. By following the steps outlined in this article, you can confidently and safely use Paxful to trade Bitcoins in Kenya.