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Create a paxful account and creating a paxful wallet is very easy. Norm, everyone that registers on Paxful automatically gets a Free Bitcoin wallet that can be found at https://paxful.com/wallet.
To create a Paxful account, watch the video below:
Your Bitcoin Balance on Paxful
You bitcoin Wallet on paxful always shows your current balance in bitcoins and your local currency, naira for instance.
How To Send Bitcoin On PAXFUL
You can send bitcoins out and make payments at anytime. Click the SEND button. Type in the amount you want to send in either bitcoin or dollars. It shows your balance in bitcoins by default but you can change it anytime by clicking the “Switch to Dollars” Link and back to bitcoin as well. Paste in the bitcoin address you got from the person you are paying. You paste it in where it says “bitcoin address” It looks like a very long scary password and is case sensitive. Click send and then click confirm.
BE CAREFUL AS ONCE YOU SEND BITCOIN YOU CAN NEVER GET IT BACK IF IT WAS A MISTAKE!
How To Receive Bitcoin On PAXFUL
Every bitcoin wallet gets a default bitcoin address. It looks like a long scary password and it will always work and never expire. Just copy it and give it to whomever you want to pay you and wait for the bitcoins to arrive. You can make a new address by clicking the “generate new bitcoin address” You can make as many as you want and use them anytime over and over if you wish. Once you get bitcoin it will inform you that you have “incoming bitcoin at 0 confirmations” It takes three confirmations before we credit the bitcoin to your balance. This can take anywhere from 20 minutes to three hours depending on how congested the bitcoin network is. We cannot help this and you must wait, once it clears three confirmations the bitcoins will be available for you to use. If you want it to clear faster ask the sender to use a higher network fee.
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Frequently Asked Questions about your Paxful Bitcoin Wallet
- Is everyone who takes bitcoin compatible with your wallet?
YES! All bitcoin wallets work with each other, web wallets or apps.
- Can I spend a fraction of a bitcoin?
Yes! You can send or spend any fraction of a bitcoin down to less than a penny. You can use your Paxful wallet or send to a wallet on your phone.
- Once I buy bitcoin can I spend it anywhere?
Yes. You can send bitcoin to any address or wallet. You can buy using bitcoin at major sites like overstock.com and newegg.com etc..
- Where is the bitcoin balance maintained?
When you buy bitcoin it automatically goes to your Paxful wallet. We hold the bitcoins for you but you can send them to your own wallet on your phone or computer anytime. We recommend you install a separate wallet on your phone, send your bitcoins to it from Paxful and then use your phone wallet to spend all your bitcoin. This is more secure for you as you hold and control your own bitcoin.
- Is this wallet secure?
Yes. It is as secure as your password, so use a good one. Our servers are very well guarded up to the highest banking specifications. 2-factor extra protections can be enabled when logging in, sending out bitcoins or in trade releasing bitcoins to buyer as a seller. We currently support Google Authenticator, Authy and SMS based 2-factors. Please also beware of phishing websites. Always make sure you are on https://paxful.com before entering in any account details. Paxful support will NEVER ask for your account details such as username or password in any way, not over email or chat. Paxful has NO SKYPE SUPPORT! Never send bitcoin or account details to anyone! Paxful support will never ask you to send bitcoin or account details. Paxful has no app on iPhone or Android so never download any Paxful apps as they are malware and contain viruses. It is up to you to protect your account. Paxful can not control phishing websites as even PayPal has 18000 phishing websites and it is impossible to take them all down.
- Why should I use this wallet?
We’ve built two other wallets before packed with features and this time around we have reduced it to the bare essentials. We will be adding some “smart” features in the future which will make it easy to give “allowances”, “commissions” and automate “savings” in the easiest possible way.
- How long does it take for all my coins to be available after they are sent?
We wait for 3 confirmations before we make your balance fully available. This is the industry standard for a truly secure wallet. This can take anywhere from five minutes to an hour depending on the bitcoin network.
- What about sending out bitcoins from my wallet and the bitcoin network miner fees? Who pays and when?
Great question. Only the sender pays bitcoin network miner fees. If you send 1 bitcoin to an outside address then they get 1 bitcoin and we deduct the bitcoin network miner fee from your remaining balance. If you only had 1 bitcoin as your balance then it show it as a zero balance but in our system it will actually be in the negative from the bitcoin network miner fee. When you deposit coins again it will go towards the negative balance. This way if you send out 1 bitcoin the receiving party always gets 1 bitcoin. When you send coins within the Paxful network, to another user, there is no mining fee.
- How can I send bitcoins from bitcoin ATM to Paxful wallet?
This is very simple. First you have to sign up at Paxful and you will receive instantly your free bitcoin wallet with us. In short you need to write down or print your Paxful bitcoin address and go to bitcoin ATM and when buying bitcoins let ATM send bitcoins directly to your Paxful bitcoin address. More detailed instructions is as following: go to your wallet page and find there your bitcoin address which is long string of characters and numbers, about 30 of length. You can either print it out or print the QR code. QR code is just representation of your bitcoin address. Next go to bitcoin ATM and ask ATM operator or check if ATM can send you bitcoins directly to your Paxful bitcoin address. Make sure you are not getting the private keys from ATM, because private key is just separate bitcoin address and you can’t add it simply to your Paxful wallet.
That’s all on How To Create A Paxful Account and Paxful Wallet.