Automated Bank Transfers

Buying and selling cryptocurrencies using Bank transfers is now automated on Paxful to make trading even easier and safer for you.

From now on, the trade chat will be disabled in Bank Transfer offers you create or edit. Instead, we’ll automatically share the buyer's and seller’s account details with each other. We’ve also introduced new Offer Terms for Bank Transfer trades, which have been set by Paxful. These Offer Terms outline how the trade will proceed.

Here’s how our automated Bank Transfers work:

How to sell cryptocurrency with an automated Bank Transfer

Creating an Offer

• Click “Create an Offer” on the Paxful homepage.
  
• Choose the cryptocurrency you’d like to sell, then ensure “Sell Bitcoin/Tether/Ethereum” is selected
• Select “Bank Transfer” as your payment method, then choose the currency you’d like to receive and the country where your bank account is based. 
  
• You’ll need to accept Paxful’s new terms for Bank Transfers to continue with an automated trade.
• Select the bank account(s) that you’d like to use for this offer and enter your bank’s name(s). If you’ve not added a bank account yet, you can do so here. Click “Next Step” when you’re done. 

• Set the rate, offer trade limits, and offer margin before continuing to “Next Step”. 
  
  
• You’ll now see “guided trade”, “no third parties,” and “receipt required” set as the Offer Tags by default. The “guided trade” tag is mandatory. You can remove or change the latter two tags to suit your needs.
  
  
  
  
• Make sure to read Paxful’s new Offer Terms carefully, then select whether you’d like your trade partner to be verified, the visibility of your offer and a reason for the Bank Transfer (optional).
  
  
  
• Click “Create Offer” and your offer will be live!
  

Making a Trade

When a buyer initiates an active trade with your offer, your cryptocurrency will be securely held in escrow until you decide to release it.

You will see the amount of cryptocurrency you’re selling, what you’ll receive in return, and the account details for both you and the buyer.

1. Once the buyer marks the trade as Paid and attaches proof of payment, check your account to confirm that you’ve received the funds.
   
2. When the funds have arrived, click “Send Bitcoin.”
   
3. Enter your 2FA code to release the cryptocurrency from escrow and complete the transaction.

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How to buy cryptocurrency with an automated Bank Transfer

Creating an Offer

1. Click "Create an Offer" on the Paxful homepage.
   Choose the cryptocurrency you want to buy, ensuring that “Buy Bitcoin/Tether/Ethereum” is selected.
2. Select “Bank Transfer” as your payment method. Then, choose the currency you’d like to transfer and select the country where your bank account is located.
3. Accept Paxful’s new terms for Bank Transfers to proceed with an automated trade.
4. Select the banks you’re willing to send payment to (or choose “All Banks”). Then, specify which bank account you’ll use for the payment. If you haven’t added a bank account yet, you can do so at this step. Click “Next Step” when you’re ready.
5. Set your trade parameters by defining the rate, offer trade limits, and offer margin before moving on to the “Next Step.”
6. By default, you’ll see “guided trade,” “no third parties,” and “receipt required” as the Offer Tags. Note that the “guided trade” tag is mandatory, while the latter two can be removed or modified according to your preferences.
7. Carefully review Paxful’s new Offer Terms. You can also adjust any additional instructions and limitations for your offer as needed.