How Profitable is paxful?

[Singa]

Can paxful really be reliable, in terms of conducting trades, and making money, by selling your Bitcoins with your margin above market Price? Can I count on it to Cash out?
And i mean with Paxful you can always sell at profit, Unlike regular platforms, where You have to do technical analysis
And wait for Bitcoin to moon then u can sell, but With Paxful bitcoin current Price doesn't really matter because you can put your own margin (Markup) anyway! So im just saying Why all the fuss, why not just use Paxful and do this cycle buy bitcoin and sell above market, and you can make Sustainable income Without any hassle!! So what you take on this argument?
...
1 more thing
And According to your experience, what is the best method (market) on Paxful to sell your BTC?

Thanks for reading

 

[Igemon]

To sell something above market price you have to find a fool who will buy something above the market price.
And they usually don't come in packs.
If something sells well above market, there is always a reason for that. Like some hidden commissions or other risks.

 

[Saho]

This totally depends on the payment methods. Some can be quite profitable such as PayPal or gift cards, but obviously there's the risk of getting scammed that has to be thought of.

 

[Singa]

To sell something above market price you have to find a fool who will buy something above the market price.
And they usually don't come in packs.
If something sells well above market, there is always a reason for that. Like some hidden commissions or other risks.

Paxful is about trust..
There are ppl in African countries who don't have bank accounts, and no douments and they only have 1 place to buy bitcoin in paltforms (p2p) like paxful..
The second thing, the others group of ppl need Privacy and anonymity, and have no problum to pay Premium...!

 

[Singa]

This totally depends on the payment methods. Some can be quite profitable such as PayPal or gift cards, but obviously there's the risk of getting scammed that has to be thought of.

Why paypal or gift Cards is so popular?

 

[Saho]

Why paypal or gift Cards is so popular?

Gift cards are so popular because there's lots of fraud going on there. The gift cards will be obtained illegally and then sold there for 50-70% normally.

PayPal is popular anyway, but also lots of Nigerians are active on there that were able to accept fraudulent payments and cash them out by using M-Pesa. They gave you like 50-80%.

Then PayPal started blocking transfers to Nigeria from lots of countries. Or at least you weren't able to send without calling PayPal. Funny stuff is going on there.

Most payments are legit though I'd say. And Paxful also has some KYC going on now.

 

[JackAlabama]

Yes, that is the golden grail of arbitrage.

Imagine you being able to trade inside North Korea, Iran, Sudan, Argentina, Venezuela, Lebanon (?), Zimbabwe and similar places where the devli struck badly and people want to get rid of their local currency asap (oftentimes at any cost).
How to make it work? --> That is the business trade secret.

 

[Singa]

Any others experiences and opinions guys would be helpful...

Thanks...

 

[12345]

Paxful trading can be profitable. It used to be what I did for living 2 years ago. But beware, the site is filled with nigerians trying to scam you in countless ways. Don't trust anyone and follow TOS when trading. I speculated it would get better when they merged with binance but it didn't

 

[Singa]

Paxful trading can be profitable. It used to be what I did for living 2 years ago. But beware, the site is filled with nigerians trying to scam you in countless ways. Don't trust anyone and follow TOS when trading. I speculated it would get better when they merged with binance but it didn't

What are you top 3 or 5 Payment methods in Paxful?
I want to use it with Transferwise method!

Thanks