The popular crypto exchange Paxful, enabled USDT peer-to-peer trading on its platform so any verified user can now protect their funds from the volatile BTC market and trader Tether which is currently the largest stablecoin by market cap as we are reading in our tether news.
The pilot version initially launched in Nigeria and a few other selected regions which turned out to be a huge success according to Arthur Shaback who is the Chief Product Officer and co-founder of Paxful:
“To honor one of our biggest markets, we decided to offer the feature to top users in Nigeria first. Confirming its efficiency and ease of use, we received practical feedback that we applied to polish the trading feature, and now we are ready to present it to the rest of the world.”
Same as with the Bitcoin trading in the Paxful marketplace, now users can buy and sell USDT with more than 300 payment methods including online wallets, gift cards, and bank transfers. The USDT can be acquired without having to purchase BTC first and the stable coin can be withdrawn directly from the wallet of the exchange. The users get provided with the option to hedge Bitcoin by converting it to USDT and vice versa. The recently added hedging function was well-received as thousands of users protected their coins from volatility as they converted more than 1.5 million USD to tether to date. Paxful also introduced multiple updates to the platform which improved the user experience.
You can now trade your USDT on Paxful!
Want to know how it works? Ysabelle is here to walk you through how to buy and sell USDT on our platform! 👇
— Paxful (@paxful) September 29, 2020
All of the users can add their bank account details in the user setting and will make trading within bank transfers faster. When creating an offer, the users can choose the bank details to be shared right away when the trades start which will eliminate the sharing of incorrect details and saving both parties time. Another development is that the users can send each other bitcoin by using their Paxful usernames that were accessible via the wallet address:
“Part of making our platform truly ‘powered by the people’ is listening to what our users have to say. The addition is aimed at simplifying transactions, so our users around the world can send Bitcoin with ease. Be that family or friends, remittance just became easier.”
As paxful enabled USDT trading, it became even more popular for money transfers with anyone across the world. The mission of the exchange is to empower the forgotten unbanked people around the world and to have control of their money by using peer to peer transactions. The company was founded in 2015 and now has more than 5 million users that can buy and sell Bitcoin and Tether with using over 300 different payment methods.
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