Paxful or LocalBitcoins? Which one is better and why? - page 2.

Kyraishi

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Quote from: italianSCARP4 on October 19, 2019, 03:01:11 PM

Quote from: Wapinter on July 11, 2019, 06:14:17 AM

I have discovered paxful recently and was surprised to see some buyers are willing to buy btc at much higher price than market.
I have seen buy order upto $17,000 per btc while market price was still $11k.
I wonder why would someone buy at such a high price when he could have bought it at market rate Huh

I have also observed this. There find up to 100% above market price.

I do not know if it is attempted fraud or if it is really legitimate when it comes to the fact that many third world countries do not have access to bacaria and are experiencing severe crises.

It's fraud. 100 percent. Unless they are only for small amounts and just need to get some quick funds.

The way those work is that they usually get access to hacked or frauded bank accounts or credit cards and then purchase large amounts of crypto-currencies before they get banned and the amount becomes illegal.

Anyway. I'd pick localbitcoins any day of the week if your able to verify your ID. I usually find doing trades their easier and the spreads mean easier profits.

malevolent

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Quote from: italianSCARP4 on October 19, 2019, 03:01:11 PM

I have also observed this. There find up to 100% above market price.

I do not know if it is attempted fraud or if it is really legitimate when it comes to the fact that many third world countries do not have access to bacaria and are experiencing severe crises.

a. sometimes it's because only small amounts are involved;
b. to compensate for the risk of fraud;
c. and yeah, there are a lot of fraudsters doing business on paxful, even with the ones with numerous positive reviews, if I googled their usernames, I'd see links to their profiles on carding or social engineering forums, so you might find out that whatever you received in exchange for BTC has been chargebacked/clawed back/blocked/etc.;
d. 3rd world countries with limited banking capabilities to send fiat in exchange for bitcoin is also one of the reasons, true.

P.S. no need embolden your entire post, use the tags if you feel the need to emphasize an important point.

italianSCARP4

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Quote from: Wapinter on July 11, 2019, 06:14:17 AM

I have discovered paxful recently and was surprised to see some buyers are willing to buy btc at much higher price than market.
I have seen buy order upto $17,000 per btc while market price was still $11k.
I wonder why would someone buy at such a high price when he could have bought it at market rate Huh

I have also observed this. There find up to 100% above market price.

I do not know if it is attempted fraud or if it is really legitimate when it comes to the fact that many third world countries do not have access to bacaria and are experiencing severe crises.

AdolfinWolf

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Activity: 1946

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Quote from: Wapinter on July 11, 2019, 06:14:17 AM

I have discovered paxful recently and was surprised to see some buyers are willing to buy btc at much higher price than market.
I have seen buy order upto $17,000 per btc while market price was still $11k.
I wonder why would someone buy at such a high price when he could have bought it at market rate Huh

Because he often can't. Paxful serves a lot of people from third world countries where they really don't have access to ibans/sepa, paypal, or a bank account for that matter.

In nigeria for example, a lot of people deal in itunes giftcards as a form of currency. don't ask me why, it just is.

Due to high carding rates and such the actual value of those giftcards is highly depreciated, which is why they're asking 17k per BTC for them as conversion rate.

Wapinter

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I have discovered paxful recently and was surprised to see some buyers are willing to buy btc at much higher price than market.
I have seen buy order upto $17,000 per btc while market price was still $11k.
I wonder why would someone buy at such a high price when he could have bought it at market rate Huh

proTECH77

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Merit: 30

Bisq Market Day - March 20th 2023

Quote from: peonminer on February 26, 2019, 03:10:01 AM

www.paxful.com and www.localbitcoins.com both allow for an escrow system for exchanging bitcoins for cash with peer to peer

What are your experiences with each?

Which do you prefer?

Thanks

The both are exchange are good in terms of operations and i would live to suggest www.localbitcoins.com to any bitcoiner who is interested on peer to peer. The very first place to hear of escrow was on localbitcoin and will strongly recommend it for bitcoin transactions. Though www.paxful.com is a good exchange but not to be compare in terms of reputation with www.localbitcoins.com

St4yInTh3D4rk

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"STAY IN THE DARK"

Quote from: generatorhd on March 13, 2019, 01:00:13 PM

I don't like localbitcoins or paxful because they both want you to deposit about 200 USD worth of btc and I don't have that much I have way less than 100 USD btc. I'm trying to currency exchange on here to see if anyone is interested.

If you want to post a trade on LBC you need minimum amount of 0.04BTC on your LBC wallet,but you no need that much amount of bitcoins to sell it for fiat while you are contacting an advertiser through localbitcoin.You can even sell 0.000001BTC if advertiser accept it.

jvdp

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I am using LBC since 2015 I had awesome experience than local trader as well. Then how I can able to compare paxful or some other exchanges.

So far trade volume on localbitcoins increased 10+ BTC now and got great number trusted feedbacks there. That is really awesome may I may get such feedback here too. LOL. Grin

RocketSingh

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IMHO, LocalEthereum.com is better than both.

onecall123

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Been involved in Paxful since 2018. I have some research for you, their security system and trust level much good as completed a couple of exchanges safely! Personally, I'd prefer Paxful since never used Localbitcoins before. But, At the end of the day you made your own decision. You can’t blame anyone but yourself.

peonminer

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Quote from: generatorhd on March 13, 2019, 01:00:13 PM

I don't like localbitcoins or paxful because they both want you to deposit about 200 USD worth of btc and I don't have that much I have way less than 100 USD btc. I'm trying to currency exchange on here to see if anyone is interested.

Currency exchange subforum is where you should post if you are trying to make a trade of USD to BTC or visa versa. That's interesting I did not know that they have a minimum of deposit. Thanks for the info.

generatorhd

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I don't like localbitcoins or paxful because they both want you to deposit about 200 USD worth of btc and I don't have that much I have way less than 100 USD btc. I'm trying to currency exchange on here to see if anyone is interested.

proTECH77

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Bisq Market Day - March 20th 2023

Quote from: peonminer on February 27, 2019, 05:10:59 PM

Quote from: Ave_Maximus on February 27, 2019, 05:08:54 PM

I used LocalBitcoins for a while and never used Paxful. LocalBitcoins is quite convenient, but for me is more profitable to use changenow with their low fee

What is the link for changenow please? Thanks for the advice

https://changenow.io/ though haven't used the said exchange, would like you research into the exchange before start trade on their platform. There are many accusations against them as scam exchange, do due diligence into what they stand for will equally help. Don't make your deposit before research, please.

imstillthebest

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Quote from: Ave_Maximus on February 28, 2019, 06:29:03 PM

Quote from: peonminer on February 27, 2019, 05:10:59 PM

Quote from: Ave_Maximus on February 27, 2019, 05:08:54 PM

I used LocalBitcoins for a while and never used Paxful. LocalBitcoins is quite convenient, but for me is more profitable to use changenow with their low fee

What is the link for changenow please? Thanks for the advice

changenow.io. I'm using it for a while without problems. it's a non-custodial trading platform. and according to scam - it's just a competitor's gossip, I think.

they say changenow is scam and we dont talking any other exchange here only paxful and localbitcoins . anyway , i dont use both paxful and localbitcoins but i do heard that both platforms are verry legit although ive been hearing many complaints on localbitcoins . so overall my vote will go to paxful .

by the way here is the thread about the issue of localbitcoins : https://bitcointalksearch.org/topic/localbitcoins-this-is-the-end-5118335 , i find that on the same board .

audaciousbeing

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Quote from: peonminer on February 26, 2019, 03:10:01 AM

www.paxful.com and www.localbitcoins.com both allow for an escrow system for exchanging bitcoins for cash with peer to peer

What are your experiences with each?

Which do you prefer?

Thanks

Just like you have rightly said, they both offer the same kind of service and localbitcoin has higher volume and more presence that paxful. For me, I have only used paxful even though I have an account also on localbitcoin and I found it very interesting and straight forward without any hassles. The registration process is also straight forward although they are starting verification soon as welll. In all, I would pick paxful over others.

Patatas

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LocalBitcoins any fukin day! Like is there even a comparison? The site is in operations since I started to trade bitcoins and haven't had a single bad experience to date. Like try searching for scam accusations against them and you'd find nothing. The case is not the same with Paxful.

proTECH77

member

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Bisq Market Day - March 20th 2023

Quote from: peonminer on February 26, 2019, 03:10:01 AM

www.paxful.com and www.localbitcoins.com both allow for an escrow system for exchanging bitcoins for cash with peer to peer

What are your experiences with each?

Which do you prefer?

Thanks

Right from the very first day i went into cryptocurrency i have been a good fans of localbitcoins.com and had account with them till when i lost my account details. Paxful.com in the other hand is good but not to be compared to litbitcoin.com were huge amount of bitcoin can be exchange without any fear, also, that has been in existing over the year now. Though not too conversant with that of paxful.com.

Ave_Maximus

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Quote from: peonminer on February 27, 2019, 05:10:59 PM

Quote from: Ave_Maximus on February 27, 2019, 05:08:54 PM

I used LocalBitcoins for a while and never used Paxful. LocalBitcoins is quite convenient, but for me is more profitable to use changenow with their low fee

What is the link for changenow please? Thanks for the advice

changenow.io. I'm using it for a while without problems. it's a non-custodial trading platform. and according to scam - it's just a competitor's gossip, I think.

St4yInTh3D4rk

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"STAY IN THE DARK"

Quote from: Bostraticus on February 28, 2019, 09:32:17 AM

I used them many times to examine these charges. The user received a refund, and I did not see fraud in this, so I decided to check them out and was satisfied. I decided to try them for the reason that I found their rate more profitable. I do not see any problems with them, every exchange has problems, if we will try to avoid it, we will have nothing to use.

Use at your own risk,because already they has a problem with huge amount hold by them illegally,so when you are preferring this exchange for huge amount,make sure you can wait long time if there is any issues happened.
You can try our forum's currency exchange for converting your coins anonymously,maybe it will take few hours or days to find the trader but it is worth to wait than going for a risky exchange.

Bostraticus

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Quote from: semobo on February 27, 2019, 06:09:03 PM

Quote from: peonminer on February 27, 2019, 05:10:59 PM

Quote from: Ave_Maximus on February 27, 2019, 05:08:54 PM

I used LocalBitcoins for a while and never used Paxful. LocalBitcoins is quite convenient, but for me is more profitable to use changenow with their low fee

What is the link for changenow please? Thanks for the advice

Changenow is not a trading platform like LBC,which is an anonymous exchange let the users to trade without any verification but I heard that they turned into scam so using it is really not advisable.

I used them many times to examine these charges. The user received a refund, and I did not see fraud in this, so I decided to check them out and was satisfied. I decided to try them for the reason that I found their rate more profitable. I do not see any problems with them, every exchange has problems, if we will try to avoid it, we will have nothing to use.

Topic: Paxful or LocalBitcoins? Which one is better and why? - page 2. (Read 1086 times)