Paxful is a popular peer-to-peer crypto marketplace where users could trade bitcoin and gift cards, but they announced that they’ll stop operations. While this news may come as a disappointment to Paxful users, it does not mean the end of peer-to-peer transactions.
There are several other reputable platforms available that provide similar services, allowing users to trade gift cards and cryptocurrencies. In this article, we will discuss three alternatives to Paxful for those looking to sell their bitcoin for cash.
- Dart Africa
At the top of the list is Dart Africa, the go-to platform for getting great rates for your Bitcoin. You don’t have to look too far for a simple way to trade Bitcoin, Dart Africa has got you covered. Dart Africa supports a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, USDT, BNB, and more. One of the major advantages of using Dart Africa over other platforms like Paxful is that it supports Ethereum. Paxful recently removed Ethereum from its list of supported cryptocurrencies. Also, Dart Africa offers good rates that are better compared to the rates offered by P2P traders on Paxful.
How to trade on Dart Africa
- Register an account on dartafrica.io. You’ll need to provide your personal details, such as your name, email, and phone number. Once you’ve completed the registration process, you’ll need to verify your email address.
- After you’ve verified your account, you’ll be redirected to your dashboard. On your dashboard, you’ll find a rate calculator that allows you to determine the value of your bitcoin in naira or cedis. This will help you to know the current rate of bitcoin.
- Once you’ve determined the value of your bitcoin, you can proceed to trade by sending your bitcoin to the wallet address generated on your dashboard. Make sure to double-check the wallet address before sending your bitcoin to avoid sending it to the wrong address.
- Once you’ve sent your bitcoin, you’ll need to wait for the transaction to be confirmed. Dart Africa will notify you once your transaction has been confirmed. Your Dart Africa wallet will be credited instantly.
- Now that your wallet has been credited, you can withdraw your funds. Simply go to your dashboard and select the withdraw option. Enter the amount you want to withdraw and the account details. Your funds will be credited to your local bank account or mobile money account within a few minutes.
- Astro Africa
Astro Africa has been ranked as one of the best platforms to trade Bitcoin for cash. There are many positive reviews online that attest to this fact. What’s more, users can not only trade Bitcoin, but also buy and sell gift cards on the platform.
Astro Africa offers good rates, fast payout, and is very easy to use when compared to Paxful. One of the major advantages of Astro Africa over other platforms is that there are no rigorous verification processes, making it quick to start trading. The platform’s user-friendly interface also makes it easy for beginners to carry out trades seamlessly.
Prestmit is a relatively new platform launched in 2019 that allows users to trade Bitcoin for cash. Despite being new to the market, Prestmit has gained popularity among crypto traders due to its features. The platform offers a user-friendly interface that makes it easy for anyone to sell Bitcoin. Also, Prestmit has a secure system that makes sure users’ transactions are safe from fraud.
Disadvantages of Peer-to-Peer (P2P) Exchanges
Many people who trade bitcoin are attracted to peer-to-peer (P2P) exchange because they provide a flexible way to trade cryptocurrencies. Despite their benefits, they also have drawbacks:
- Scams: P2p exchanges lack regulation, which means that there are people who pretend to be legitimate traders, but in reality, they are scammers. It takes some experience to identify these scammers, and newbies can easily fall for them.
- Security: One major concern with p2p exchanges is their security. They typically rely on a reputation system and escrow to facilitate trades between users. The reputation system allows users to rate their experience with each other. The idea is that by seeing other users’ ratings, you can determine if they are trustworthy. However, this system is not perfect, as it can be manipulated by fake reviews. So, this means that even if someone has a high rating, they may not be entirely reliable.
Selling Gift Cards: Paxful vs. Cardvest
If you’re into gift card trading, then Cardvest is the place to be. Cardvest has become a top platform in the industry because of many reasons. Trading on p2p exchanges like Paxful can be exhausting, as you have to sift through deals to find the best rates. This can be time-consuming, but with Cardvest, you’re guaranteed to get the best rates without any stress. Other features of Cardvest include:
i. Wide range of accepted gift cards: Cardvest supports a wide range of gift cards, including those for popular retailers like Amazon, eBay, Target, Walmart, Nordstrom, Footlocker, NIKE, Sephora, e.t.c.
ii. Best rates in the market: Cardvest prides itself on providing the best rates in the gift card market. With our commitment to providing users with the best possible value, Cardvest ensures that users can get the most out of their gift card sales.
iii. Multiple payment methods: Cardvest stands out from other gift card trading platforms by offering multiple payment methods, including bank transfers and crypto payouts. This flexibility ensures that users can choose the payment method that works best for them.
Summarily, while Paxful’s decision to shut down its operations may have left some users searching for alternatives, there are other platforms available for crypto traders to sell their Bitcoin. One such platform is Dart Africa, which has gained reputation as a reliable option within the crypto community. Dart Africa has been vetted by numerous users and has earned positive reviews for its rate and fast payout speed.