Difference between revisions of "Paxful"

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| homepage =      [https://paxful.com/ Paxful]
 
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Paxful is a peer-to-peer platform focused primarily on [[bitcoin]]. As a peer-to-peer platform, Paxful provides a a bulletin board of purchase and sale offers, rules for settlements, and surveillance of know-your-customer (KYC) rule compliance. Unlike many peer-to-peer platforms, Paxful requires traders to open an account. Chainalysis announced in March 2020 that it provides Paxful with KYC tools.<ref>{{cite web|url=https://www.theblockcrypto.com/linked/59548/chainalysis-strikes-its-first-ever-deal-with-a-p2p-crypto-exchange|name=Chainalysis strikes its first-ever deal with a P2P crypto exchange|org=The Block Crypto|date=June 16, 2020}}</ref>
 
Paxful is a peer-to-peer platform focused primarily on [[bitcoin]]. As a peer-to-peer platform, Paxful provides a a bulletin board of purchase and sale offers, rules for settlements, and surveillance of know-your-customer (KYC) rule compliance. Unlike many peer-to-peer platforms, Paxful requires traders to open an account. Chainalysis announced in March 2020 that it provides Paxful with KYC tools.<ref>{{cite web|url=https://www.theblockcrypto.com/linked/59548/chainalysis-strikes-its-first-ever-deal-with-a-p2p-crypto-exchange|name=Chainalysis strikes its first-ever deal with a P2P crypto exchange|org=The Block Crypto|date=June 16, 2020}}</ref>
 
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Paxful announced that it conducted $1.6 billion in transactions in 2019. Its largest markets, Nigeria, Ghana, South Africa, Kenya and other countries in Africa, grew by 57% in 2019.<ref>{{cite web|url=https://paxful.com/blog/paxful-african-market-2020/|name=Paxful Ready to Build on its African Market Success in 2020|org=Paxful|date=June 16, 2020}}</ref>   
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== African outreach ==
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Paxful's business plan includes a significant social welfare component. In 2018, Co-Founder Ray Youssef told CoinDesk, the online cryptocurrency-focused news service, that the company had supported two schools in Rwanda and that Paxful would partner with institutions in Africa to educate students about bitcoin and how to manage personal wallets. “The huge challenge is educating the educators,” Youssef said. “We want to build our next school in western Africa, preferably Nigeria. We are now looking for build partners on the ground.”
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That year, Paxful also hired employees in the troubled country of Venezuela.<ref>{{cite web|url=https://www.coindesk.com/p2p-bitcoin-exchange-crypto-growth-africa|name=Bitcoin Exchange Paxful Sees 20% 2018 Growth, Driven by Africa|org=CoinDesk|date=June 16, 2020}}</ref>
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After growing by 20% in 2018, Paxful announced that it conducted $1.6 billion in transactions in 2019. Its largest markets, Nigeria, Ghana, South Africa, Kenya and other countries in Africa, grew by 57% that year.<ref>{{cite web|url=https://paxful.com/blog/paxful-african-market-2020/|name=Paxful Ready to Build on its African Market Success in 2020|org=Paxful|date=June 16, 2020}}</ref>   
  
 
== Products and services ==
 
== Products and services ==
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Paxful began offering services to support gold transactions priced in bitcoin in March 2020. The transaction can be negotiated on the Paxful platform, and once it is agreed Paxful holds the bitcoin in escrow until the gold purchaser confirms acceptance of the physical gold.<ref>{{cite web|url=https://www.coindesk.com/peer-to-peer-crypto-exchange-paxful-now-lets-you-trade-bitcoin-for-gold|name=Peer-to-Peer Crypto Exchange Paxful Now Lets You Trade Bitcoin for Gold|org=CoinDesk|date=June 16, 2020}}</ref>  
 
Paxful began offering services to support gold transactions priced in bitcoin in March 2020. The transaction can be negotiated on the Paxful platform, and once it is agreed Paxful holds the bitcoin in escrow until the gold purchaser confirms acceptance of the physical gold.<ref>{{cite web|url=https://www.coindesk.com/peer-to-peer-crypto-exchange-paxful-now-lets-you-trade-bitcoin-for-gold|name=Peer-to-Peer Crypto Exchange Paxful Now Lets You Trade Bitcoin for Gold|org=CoinDesk|date=June 16, 2020}}</ref>  
 
 
 
 
  
  
 
== References ==
 
== References ==
 
<references />
 
<references />
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Latest revision as of 21:50, 16 June 2020

Paxful
Paxful logo.png
Founded 2015
Headquarters New York, New York
Key People Artur Schaback and Ray Youssef, Co-Founders
Employees 200
Products Peer-to-peer cryptocurrency platform
Twitter @Paxful
LinkedIn Profile
Facebook Paxful
Website Paxful
Releases Company News
Blog Blog

Paxful is a peer-to-peer platform focused primarily on bitcoin. As a peer-to-peer platform, Paxful provides a a bulletin board of purchase and sale offers, rules for settlements, and surveillance of know-your-customer (KYC) rule compliance. Unlike many peer-to-peer platforms, Paxful requires traders to open an account. Chainalysis announced in March 2020 that it provides Paxful with KYC tools.[1]

African outreach

Paxful's business plan includes a significant social welfare component. In 2018, Co-Founder Ray Youssef told CoinDesk, the online cryptocurrency-focused news service, that the company had supported two schools in Rwanda and that Paxful would partner with institutions in Africa to educate students about bitcoin and how to manage personal wallets. “The huge challenge is educating the educators,” Youssef said. “We want to build our next school in western Africa, preferably Nigeria. We are now looking for build partners on the ground.” That year, Paxful also hired employees in the troubled country of Venezuela.[2]

After growing by 20% in 2018, Paxful announced that it conducted $1.6 billion in transactions in 2019. Its largest markets, Nigeria, Ghana, South Africa, Kenya and other countries in Africa, grew by 57% that year.[3]

Products and services

Paxful provides approximately 340 different ways to transfer fiat currencies, including PayPal and Amazon Gift Cards.[4]

Paxful began offering services to support gold transactions priced in bitcoin in March 2020. The transaction can be negotiated on the Paxful platform, and once it is agreed Paxful holds the bitcoin in escrow until the gold purchaser confirms acceptance of the physical gold.[5]


References