How to use M-Pesa to buy Bitcoins on Paxful

Paxful is a bitcoin marketplace where buyers and sellers can trade bitcoins for over 300 payment methods, including M-Pesa. M-Pesa is a mobile money transfer service that allows users to send and receive money via their mobile phones. It’s a safe and convenient way to transact and one of the most popular payment methods on Paxful. This blog post will show you how to use M-Pesa to buy bitcoins on Paxful. We’ll also give you some tips on how to choose a reputable seller and how to stay safe when trading online.

What is M-Pesa?

M-Pesa is a mobile money transfer service that allows users to send and receive money using their mobile phones. The service is available in Kenya, Uganda, Tanzania, Rwanda, and South Africa. M-Pesa allows users to send money to any mobile phone number worldwide.

M-Pesa was launched in 2007 by Safaricom, a Kenyan telecommunications company. The service was originally designed to help people send money to relatives who did not have bank accounts. Today, M-Pesa is used by millions of people to send and receive money, pay bills, and make purchases.

To use M-Pesa, users must first register for an account with Safaricom. Once registered, users can load money onto their accounts using cash or a credit/debit card. To send money, users enter the amount they wish to send and the recipient’s mobile phone number. The recipient will receive a text message with a link to claim the funds.

M-Pesa is a convenient way to send and receive money internationally. It is also one of the most popular payment methods on Paxful, a peer-to-peer bitcoin marketplace. To buy bitcoins on Paxful using M-Pesa, select M-Pesa as your payment method when creating your buy offer. You will then need to provide your M-Pesa phone number so buyers can send you the funds.

Also, Read 5G network coverage in Kenya-What you need to Know

What is Paxful?

Paxful is a global marketplace to securely trade Bitcoin with millions of users, using over 300 payment methods. Founded in 2015, our mission is to empower the world’s unbanked and underserved by providing them with financial freedom and opportunity. They are based in New York City.

Paxful is the best place to buy bitcoin with M-Pesa. Buying bitcoins on Paxful is easy and secure, with over 300 different payment methods. You can pay for your bitcoins with cash, a bank transfer, or even by using M-Pesa. All you need is an M-Pesa account, and you’re good to go!

How to use M-Pesa to buy bitcoins on Paxful

Assuming you already have a Paxful account (if not, sign up here), you can follow these steps to buy bitcoins using M-Pesa:

1. On the main Paxful page, select “M-Pesa” as your payment method.

2. Enter the number of bitcoins you want to buy or the amount of Kenyan Shillings you want to spend.

3. Choose a seller from the list of offers that appears. We recommend choosing a seller with a high reputation score and a good number of completed trades.

4. Click “Buy Bitcoin Now.”

5. Enter your M-Pesa phone number when prompted, and confirm the transaction via SMS.

6. Once the trade is confirmed by both parties, the bitcoins will be released from escrow and delivered to your Paxful wallet.

What are the fees for using M-Pesa to buy Bitcoins on Paxful

Paxful does not charge any fees for using M-Pesa to buy bitcoins. However, M-Pesa does charge a small fee for each transaction. The fee depends on your country and account type but is typically around 2% of the total transaction amount.

What are the Pros and Cons of buying Bitcoins using M-Pesa on Paxful

M-Pesa is a mobile payment system that allows users to send and receive money using their mobile phones. There are over 30 million M-Pesa users in Kenya, making it one of the most popular payment methods in the country. Paxful is a peer-to-peer marketplace that allows users to buy and sell bitcoins using various payment methods, including M-Pesa.

There are several advantages to using M-Pesa to buy bitcoins on Paxful. First, M-Pesa is a prevalent payment method in Kenya, so there are many buyers and sellers who are willing to trade bitcoins for M-Pesa. Second, Paxful does not charge fees for using M-Pesa as a payment method. Third, Paxful offers escrow protection for all trades, which means that your bitcoins will be safe until you receive your M-Pesa payment.

There are also some disadvantages to using M-Pesa to buy bitcoins on Paxful. First, because Paxful is a peer-to-peer marketplace, you must find a reputable seller willing to trade with you. This can be difficult, as there are many scammers on the platform. Second, while Paxful does offer escrow protection, it is not 100% foolproof. If you do not trust the person you are trading with, we recommend using another payment method.

What are the Alternatives to buying Bitcoins on Paxful using M-Pesa?

If you’re looking for alternatives to M-Pesa for buying bitcoins on Paxful, a few options are available. To buy bitcoins, you can use a different mobile money service, like Airtel Money or Tigo Pesa. Or, you can use a traditional bank transfer to fund your account and purchase bitcoins. Lastly, you can also buy bitcoins with cash using one of many ATM or teller locations worldwide.

Wrapping Up

So there you have it — a basic guide on how to use M-Pesa to buy bitcoins on Paxful. Paxful is a great platform for those looking to invest in cryptocurrencies, and with M-Pesa, it’s easy to get started. With a few simple steps, you can be on your way to buying bitcoins and other cryptocurrencies in no time.

Related reading: How To Buy Bitcoins With M-Pesa: An In-Depth Guide

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