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How to sell bitcoin for bank transfer on paxful?

Paxful is a peer-to-peer marketplace that allows individuals to buy and sell bitcoin. One of the ways to sell bitcoin on Paxful is through a bank transfer. In this article, we will provide an in-depth guide on how to sell bitcoin for bank transfer on Paxful.Step 1: Sign up for a Paxful accountThe first step…

Paxful is a peer-to-peer marketplace that allows individuals to buy and sell bitcoin. One of the ways to sell bitcoin on Paxful is through a bank transfer. In this article, we will provide an in-depth guide on how to sell bitcoin for bank transfer on Paxful.

Step 1: Sign up for a Paxful account

The first step in selling bitcoin for bank transfer on Paxful is to sign up for an account. To do this, go to the Paxful website and click on the “Create Account” button. Fill in your details and verify your email address.

Step 2: Set up your bitcoin wallet

Once you have created your account, you will need to set up a bitcoin wallet. A bitcoin wallet is a digital wallet that allows you to store, send, and receive bitcoin. Paxful offers its users a built-in wallet, but you can also use any other Bitcoin wallet you prefer.

Step 3: List your bitcoin for sale

To list your bitcoin for sale, click on the “Sell Bitcoin” button on the Paxful homepage. Enter the amount of bitcoin you want to sell, the currency you want to receive, and the payment method you prefer. In this case, select bank transfer as your payment method.

Step 4: Find a buyer

Once you have listed your bitcoin for sale, it will be visible to potential buyers on the Paxful platform. You will receive notifications when a buyer expresses interest in your offer. Before accepting an offer, make sure to check the buyer’s feedback score and read their terms and conditions.

Step 5: Initiate the trade

When you have found a buyer and agreed on the terms of the trade, you can initiate the trade. Click on the “Start Trade” button, and the buyer will be notified to send the payment. You will receive a notification when the payment has been received.

Step 6: Release the bitcoin

Once you have received the payment, you will need to release the bitcoin to the buyer. To do this, click on the “Release Bitcoin” button. This will transfer the bitcoin from your wallet to the buyer’s wallet.

Step 7: Confirm the payment

After releasing the bitcoin, you will need to confirm the payment. This will ensure that the buyer has received the bitcoin and is satisfied with the transaction. Once the buyer has confirmed the payment, the trade will be complete.

Step 8: Withdraw the funds

After the trade is complete, you can withdraw the funds to your bank account. To do this, click on the “Withdraw” button on your Paxful dashboard. Enter your bank details and the amount you want to withdraw. The funds will be transferred to your bank account within a few business days.

Conclusion

Selling bitcoin for bank transfer on Paxful is a simple and straightforward process. By following the steps outlined above, you can easily sell your bitcoin for bank transfer and withdraw the funds to your bank account. It is important to exercise caution when dealing with buyers and only release the bitcoin once you have received the payment. With Paxful, you can sell bitcoin with ease and confidence.

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