Ethereum (ETH) FAQs

Modified on Mon, 29 Apr 2024 at 12:39 PM

What is Ethereum?

Ethereum is an open-source blockchain network on which software can be built and run. Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin (BTC), and also serves as the resolution layer for popular ERC-20 assets like USDT (Tether), USDC and many others to settle transactions. Originally starting as a proof of work model, Ethereum now runs as a proof of stake network. You can create an Ethereum wallet from anywhere, at any time, and explore a world of apps or build your own, and do so without trusting a central authority that could change the rules or restrict your access.

How to convert Ethereum on Paxful?
All users can convert Ethereum with a verified email address and phone number. For a full list of the verification status needed for Ethereum transactions, please visit this article.

For more information about Ethereum conversion, visit Converting Ethereum FAQs.

What are the fees for converting Ethereum?

As of writing, Ethereum transactions are priced dynamically based on network congestion and include a standard Paxful wallet fee. The expected fee will be displayed immediately before your external transfer.

Can my Ethereum transaction be cancelled or reversed?

Like Bitcoin transactions, Ethereum transactions cannot be cancelled or reversed. For more information, check out this article

What is the minimum amount of Ethereum I can convert?

ETH to BTC: 0.0001 BTC equivalent

How do I get my Ethereum wallet receiving address?

Head to the Wallet tab and click Receive in the Ethereum section. From there, you can accept Ethereum from your own or anyone else’s account.

How to trade ETH on Paxful?

Similar to trading Bitcoin, you can buy and sell Ethereum (ETH) by going through a standard trading flow on the peer-to-peer marketplace. With over 450 ways to pay on Paxful, once you're on the marketplace, input your preferred payment method, currency, and the amount you want to purchase or sell. After that, simply hit search to find offers that match your criteria. Happy trading!

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