How to Buy Cryptocurrency on Paxful Using Altcoins
Paxful allows you to purchase cryptocurrency using other digital currencies, commonly referred to as altcoins. This guide will walk you through the entire process step-by-step.
Before You Begin
Before starting any transactions, make sure you have a sufficient balance in your digital wallet. It’s also important to research the specific cryptocurrency you plan to buy, including any transaction limits or special requirements it may involve.
HOW TO TRADE
1. Finding an Offer
The first step is to search for an offer that accepts the altcoin you want to use and supports the cryptocurrency you want to buy. Enter the amount you’re interested in purchasing and select your preferred currency.
Note: You will still need to choose a reference fiat currency, typically USD, as most cryptocurrency market prices are based on it.
After finding a suitable offer, carefully review the offer terms before starting the trade. These terms will outline what the seller expects from you.
Once the trade is initiated, you’ll receive detailed trade instructions from the seller. These instructions can vary depending on the payment method being used.
Important: The seller is responsible for providing the correct wallet address. Take your time to verify the wallet details with the seller before sending any funds.
2. Creating Your Offer
You also have the option to create your offer to buy cryptocurrency with altcoins. Here are some tips:
Set a margin that ensures a profitable trade for you, as negotiations aren't allowed during the trade.
Clearly outline your offer terms and instructions.
Specify who will cover any transaction fees.
After publishing your offer, wait for a seller to initiate a trade. Once that happens, you’ll be notified. You can then discuss any necessary details with the seller and send funds to the provided wallet address.
COMPLETING THE TRADE
After sending the payment and uploading proof (such as the transaction ID), click "Paid" to confirm. If you don’t do this, the trade will expire, and the cryptocurrency will be returned to the seller from the escrow.
The seller will then need to confirm the payment. This may take some time, so be patient. Once the seller confirms, they will release the cryptocurrency, completing the transaction.
AFTER THE TRADE
Once everything is finalized, consider leaving feedback for your trading partner. If you had a good experience, you can also add them to your trusted list for future trades.
For more detailed tips and guidance on using Paxful to buy cryptocurrency, check out additional resources on the platform.
For any trade issue, please file a dispute. Check out this article for the steps: How Do I Start a Dispute on Paxful?If you need any assistance from our Support team, do not hesitate to contact us. Check out this article on How to Contact Support.