Paxful Kenya review: How to register, Available wallets, transaction fees, and everything that you need to know

If you have been Into cryptocurrencies here in Kenya, the Platform Paxful is one of those exchanges you must have come across if you are just getting started and not quite sure whether to use it. This article explains everything in detail that should be on your radar. Read to the end to understand more.g

Paxful Kenya review: How to register, Available wallets, transaction fees, and everything that you need to know
Paxful Kenya review: How to register, Available wallets, transaction fees, and everything that you need to know

Paxful is undoubtedly one of the leading peer-to-peer cryptocurrency exchanges in Kenya. The platforms easily allow any trader to sell, buy, trade, and sell their Bitcoins anywhere in the world. All that you need to do with Paxful is to register on their site, get a free wallet that will be used to hold your Bitcoins

Using more than 300 different payment options, including bank transfers, cash deposits Via Mpesa, debit cards, credit cards, gift cards, e-wallet balances, PayPal, and money transfer services, clients may buy and sell Bitcoin with anybody in the globe using the Paxful platform.

How to get started on Paxful

As mentioned previously, registering is the first step you will have to take while starting out with Paxful. 

  • Visit Paxful.com or, if you prefer, get the Paxful app on your smartphone.
  •  On the main page, choose the "CREATE ACCOUNT" link.
  •  Double-click your email address.
  •  Select a username.
  •  Pick a strong password.
  • Select the "I accept the Paxful Terms of Use and Privacy Policy" checkbox.
  • 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. On the confirmation link, click. After creating your account, you should check in to Paxful through the website or the mobile app and set up 2-factor authentication. This will assist in defending the account from potential hackers and other nefarious individuals.

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The platform interface is fantastic for rapidly and simply buying and selling Bitcoin. From when you log in, you will be greeted with your dashboard, and Paxful has gone further to provide that will guide your way when starting. When using Paxful, always be careful not to fall out of the hands of individuals who may con you. To know who is a legit sell on Paxful, we advise you to read the seller's Paxful profile and look at their rating before trading. 

Digital Currencies supported on Paxful

The platform offers a wide range of currencies. It is possible to purchase or sell Bitcoin, Ethereum, and Tether using Paxful. Here are the digital currencies supported on Paxful.

  • Tether (USDT)
  • Bitcoin (BTC)
  •  Ethereum ETH

 How To Purchase Bitcoins on Paxful

Paxful makes it simple to buy bitcoins. All you need to do is access your Paxful account and select the number of Bitcoins you want to purchase. Throughout this process, you will have to  Select the FIAT currency you'll be using for the exchange rate. Next, please choose one of the many payment alternatives provided to you. For example, you can Choose Mpesa for those of us who hail from Kenya to complete the transaction.

You can then browse the whole list of merchants or choose to be steered to the bestsellers depending on the criteria the website has chosen. Select a trustworthy seller, then click "Trade." You may use the live chat feature on the trading website to communicate with the supplier. The vendor will provide you with payment instructions. If you decide to proceed, choose "Mark as Paid" and watch for the vendor to send the coins to your wallet.

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Trades are often performed instantaneously. However, this is frequently influenced by the payment method and availability of the supplier online. While bank deposits take some time to process, the good thing is that Mpesa can be used right away.

Coins from the seller are instantly sent to Paxful's highly secure escrow account as a deal begins. The cryptocurrency is remitted and returned from the secure escrow account to the seller's Paxful wallet when a buyer cancels an exchange, in this case, even if the seller is unable to do so.

The deal is immediately terminated, and the seller is given his bitcoin back since the buyer failed to deliver the money and did not declare that it was finished within the designated payment window of two hours.

 Which payment options are offered on Paxful?

There are more than 300 different payment methods. The following methods of payment are accepted for purchases: 

  • M-Pesa
  • Gift cards
  • Deposits made in cash
  • PayPal for online transfers
  • Credit/debit cards

How to Buy Bitcoin using M-Pesa Option on Paxful

M-Pesa enables customers to store and transfer funds via a mobile phone app. It makes it possible to receive the financial services that you may need. As of the writing of this article, you may also purchase Bitcoin (BTC) on Paxful using your M-Pesa account.

  •  Login to your Paxful Account and make sure that Paxful free wallet is attached to your account
  • Click Buy Bitcoin from several options presented on your account to be sent to the specific offer page, where you can quickly review the deal.
  • When you're ready to purchase Bitcoin, enter the amount and click the Buy now button.
  • You'll get complete instructions on how to pay your merchant once the deal begins. Make careful to mark your deal as Paid after making your money to prevent it from expiring.
  •  Allow your trading partner a little window of time to confirm the payment. Upon confirmation, they will transfer the Bitcoin from our safe escrow service into your Paxful wallet, concluding the deal.

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How to sell Bitcoin on Paxful 

If you want to make huge profits on Paxful, you must verify your account to become a verified seller. This will boost your credibility with new clients and offer you access to other advantages like positive Paxful reviews.

To become a verified seller on Paxful, you must provide a printed document proving your physical address. Submit a high-resolution picture of your passport, license, or identification card, and upload a video of yourself holding your passport or ID card.

 How To transfer bitcoins on Paxful?

You may transmit bitcoin and make payments at any moment with Paxful. To get started, log in again to your account, Open the Paxful wallet, Press the SUBMIT button, Enter the desired payment amount, and Enter the address to which you want to send the money. Look for where it says "Bitcoin address" and paste it there. Finally, click on "Send" to confirm this.

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Paxful Fee structure

 Currently, there are no fees for buyers. However, this is offset by the premium the provider charges, which may be higher or lower depending on the payment method. But it is understandable because sellers want to profit from the goods they sell. If you are a vendor on Paxful, you will be charged a 1% fee for the total amount you earn on a sale.