Paxful launches mobile app to help unbanked users

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Paxful, an Estonian digital currency OTC trading platform, released its exclusive mobile wallet app on May 22. The app is available for Android and iOS systems, and can work with the Paxful official website to provide trading and storage functions to all customers. The Paxful wallet is not only safe for storage, but also allows trading or transfers with any selected device anytime, anywhere.

Ray Youssef, CEO and co-founder of Paxful, told Finance Magnates, “I hope this app will help our platform reach more people around the world. Most of our customers use our services through mobile phones, and this is a big step in that direction.”

Bitcoin seminars sweep across Asia, boosting Paxful mobile app

After achieving great success in Africa, Paxful began to expand into the Asian market in 2019, holding a number of dinners, seminars and exchanges to help Asian users better understand the industry and share their experiences.

China is one of the most important markets in Asia, and Paxful attaches great importance to the opinions of Chinese users. In August this year, Paxful held a three-day VIP sharing and exchange dinner in Shenzhen. Ray Youssef, the company's CEO and co-founder, came all the way from Europe to Shenzhen, China, to gather with Paxful VIP users from all over the world to share their views and gains. During the period, Ray also made a periodic work report to the VIP users, showing the results and progress of the team's work in various aspects since the Shanghai user meeting in March this year, humbly listened to the feedback from Chinese users, and expressed his heartfelt thanks for this.

Youssef said in an official statement that these activities are part of Paxful’s corporate mission: to provide stable and reliable financial services to individuals and communities without bank accounts. “Our goal has always been to empower individuals who do not have financial resources such as traditional banks, so that they can have more opportunities through investment and financial management tools such as cryptocurrencies,” Youssef told Finance Magnates.

Paxful promotes diversified payment methods in China

What Paxful Exchange is doing now is to connect global users more closely, ensure the transparency and flow of all investment information, and allow more individuals to benefit from the financial services traded between users.

In the Chinese market, Paxful has always been in a leading position in localization. China has the largest population in the world and different city levels, which means that there are both high-tech users like Europe, America, Japan and South Korea, and new players like those in Africa who know little about digital currencies, and many of them do not have bank accounts. At the same time, electronic payment modes such as WeChat and Alipay are far ahead of other countries. Many rural people may not have bank accounts, but they cannot be without WeChat Pay.

In order to cope with the differences in the Chinese market, Paxful can also use WeChat Pay and Alipay, giving Chinese netizens more choices in using Paxful wallets and various derivative services.

Paxful has more than 300 settlement methods to make buying and selling digital currencies more convenient and faster, such as bank transfers, cash deposits, gift cards, offline cash transactions, PayPal, Skrill, Neteller, etc. Users can also buy and sell Bitcoin on Paxful with other digital currencies such as Ethereum, Litecoin, Ripple, etc.

Of course, for customers without bank accounts, gift cards that can be purchased anywhere in life can also become a trading tool. Adidas, Amazon, Walmart, Steam, and even Apple's iTunes, these gift cards that can be easily purchased with cash at convenience stores can also be used to purchase Bitcoin on the Paxful platform, and settlement through gift cards can also have unexpected discounts on handling fees.