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+---- Thread: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? (/showthread.php?tid=6066021)
Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Scaze561 - Apr 11, 2020
Hey guys I'm thinking of joining in on the fun of Paxful and Local Bitcoins and I'm wondering if any of you have made any major $$$ on there consistently....not talking $100-200 USD a day but like $500+ USD daily.
Yea yea, I also know Paxful/Localbitcoins is a major hunting grounds for scammers and is not ez territory to be successful in but I'm just curious.
My guide for making deals on Paxful to combat fraud (personal):
Spoiler (Click to View)
PLEASE NO TRYING TO UPSELL ME UR EBOOKS!!!! IM NOT ASKING FOR IT!!!
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Morty - Apr 11, 2020
I have traded over 10 BTC on Paxful and never been scammed or had a problem. Honestly people with 5 feedback and ID verified are just fine to trade with if you're using like Apple Pay, Cash App, Zelle ect. Anything but Paypal unless it's a reputable person. I don't have any experience actually buying and selling for higher price but i'm sure there's plenty of money to be made. You can get like 15-20% markup on some and 7-10% on others. Just depends who's online.
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Parks - Apr 11, 2020
SIM-3889772 has, maybe direct any questions you got to him.
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Scaze561 - Apr 11, 2020
(Apr 11, 2020 10:07 PM)Morty Wrote: I have traded over 10 BTC on Paxful and never been scammed or had a problem. Honestly people with 5 feedback and ID verified are just fine to trade with if you're using like Apple Pay, Cash App, Zelle ect. Anything but Paypal unless it's a reputable person. I don't have any experience actually buying and selling for higher price but i'm sure there's plenty of money to be made. You can get like 15-20% markup on some and 7-10% on others. Just depends who's online.
Yea I'm honestly trying to stay away from the 25-40% mark up Sales as It seems like they have of higher percentage of scammers (Amazon AGC, PayPal especially). I have I decent amount of money to play with everyday like $3000 and making a consistent 10-15% markup daily I think that would be enough for me.
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - BubbleKush - Apr 12, 2020
I think you can make more money if you join some local Facebook groups and sell to people there
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - funtela - Apr 12, 2020
(Apr 12, 2020 04:04 AM)BubbleKush Wrote: I think you can make more money if you join some local Facebook groups and sell to people there
Does Facebook marketplace allow BTC and digital products?
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - BubbleKush - Apr 12, 2020
(Apr 12, 2020 07:52 AM)funtela Wrote: Does Facebook marketplace allow BTC and digital products?
I've seen people do it. Way better if you don't want to pay taxes
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - funtela - Apr 12, 2020
(Apr 12, 2020 08:03 AM)BubbleKush Wrote: I've seen people do it. Way better if you don't want to pay taxes
I’ve always wondered how it would go selling digital products there. Ebooks, coupons, etc. I probably shouldn’t use my real account though lol
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Scaze561 - Apr 13, 2020
(Apr 12, 2020 08:37 AM)funtela Wrote: I’ve always wondered how it would go selling digital products there. Ebooks, coupons, etc. I probably shouldn’t use my real account though lol
Havent found those so called trading groups when I looked yesterday. Anyhow seriously who has made at least $500 a day on paxful/localbitcoins or even those Facebook groups?
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - sumguy14 - Apr 13, 2020
If you have $3000 (assuming ~.5 BTC) to play with every day there's no real point to exchanging. It'll be a nice side hustle (which is all it should be) but don't think that you'll start off with a max +$500 profit every day, especially not on the platforms you've mentioned.
Bitcoin is wanted but why buy from you when there are many more established traders on these platforms already? I'm not saying you can't do it, but it'll take you months/years to get to that level safely, doing it quickly exposes you to way too many risks and not enough reward. Regardless, it's chump change to what you can make playing the market with almost none of the exchange-oriented risk (eg dirty funds, carded agc, stolen accounts).
It all depends on your personal risk tolerance level. I like going balls to the wall personally. Just pm if you have any Q's :)
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Scaze561 - Apr 14, 2020
(Apr 13, 2020 09:00 PM)sumguy14 Wrote: If you have $3000 (assuming ~.5 BTC) to play with every day there's no real point to exchanging. It'll be a nice side hustle (which is all it should be) but don't think that you'll start off with a max +$500 profit every day, especially not on the platforms you've mentioned.
Bitcoin is wanted but why buy from you when there are many more established traders on these platforms already? I'm not saying you can't do it, but it'll take you months/years to get to that level safely, doing it quickly exposes you to way too many risks and not enough reward. Regardless, it's chump change to what you can make playing the market with almost none of the exchange-oriented risk (eg dirty funds, carded agc, stolen accounts).
It all depends on your personal risk tolerance level. I like going balls to the wall personally. Just pm if you have any Q's :)
Lol yes I get where ur coming from but I gotta say I'm skeptical. I'm not ignorant of the amount of scammers on those platforms but making a 10% daily/every other day off 3k doesnt seem too far fetched imo. Ur time frame seems a little exaggerated also, doesnt seem to take much time building rep with small trades.
Now playing with the cryptocurrency market, honestly wouldn't wanna do it. Seems a bit too random and requires lots of TA (aka staring at charts all day). In that case I'd rather play with stock options/margins if I'm looking for quick daily flips, crypto day trading seems way to ethereal without much substance. As u can guess I am in stock options atm.
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - InvisibleZeus - Apr 14, 2020
I had a user pay me $400 Zelle for bitcoin on LBC, name matched and everything, he had ratings... a week later I got an email from my bank claiming I was paid with stolen money, and they were threatening legal action against me. They closed my bank account and banned me from using their bank services for the rest of my life... I physically went to my branch and they said they cannot do anything and escorted me out....
Trust me, scammers are there and get smarter every minute.
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - Scaze561 - Apr 14, 2020
(Apr 14, 2020 06:38 AM)mbergwall2222 Wrote: I had a user pay me $400 Zelle for bitcoin on LBC, name matched and everything, he had ratings... a week later I got an email from my bank claiming I was paid with stolen money, and they were threatening legal action against me. They closed my bank account and banned me from using their bank services for the rest of my life... I physically went to my branch and they said they cannot do anything and escorted me out....
Trust me, scammers are there and get smarter every minute.
Accepting reversible payment on those platforms was your first and biggest mistake.
RE: Has anyone here made serious money on Paxful/Localbitcoins on a consistent level? - InvisibleZeus - Apr 14, 2020
(Apr 14, 2020 05:50 PM)Scaze561 Wrote: Accepting reversible payment on those platforms was your first and biggest mistake.
That's essentially how the platform works.... It's risky, but that's where most exchangers make their money.