Paxful, an Estonia-based service, facilitates buying and selling of virtual currency to any peer around the world. Founders Ray Youssef and Artur Schaback love Bitcoin and are very passionate about the currency.Speaking to Bitcoin.com, Youssef and Schaback explained about the company, the “BackPage Effect” and how their team is motivating new users to gain insight to the virtual money.Youssef said, “Paxful is a money marketplace where people exchange value using bitcoin and other financial instruments. At its core it is a listing service allowing buyers and sellers of bitcoin to find each other and an escrow service that protects their transactions.”When asked about the optional methods that users can wield to purchase bitcoin, Schaback said, “One of Paxful’s innovations is that nearly any custom payment method can be added on the fly. This removes any local limits to how market makers can be paid and how buyers can purchase and makes Paxful a truly global platform. Users have made ads to sell bitcoin for everything from cash deposits to prepaid debit cards to “mining gear” and many other things.”The company is integrating with BackPage, which lost access to Visa and Mastercard. Youssef said that the beginning of the integration process was rough.”This happened organically. When BackPage lost their access to visa and Mastercard they scrambled to implement bitcoin. The directory they linked to initially had Paxful and a brokerage site listed at the top”, said Youssef.He added, “Besides a complete and utter lack of sleep we had to deal with immense emotional stress coming from BackPage customers.”Talking about what future holds for Paxful, Youssef said, “In ten years we know everyone will have a bitcoin wallet and bits will be the dominant world currency. Our goal is to create the fertile ground for that coming reality. Welcoming first time buyers with a simple on-boarding process, empowering and protecting market makers with the right systems and uplifting the entire space with tools to monetize their work are all apart of that. It is several immense projects in one but they must all come together with a unified vision for this to work. We got this vision by listening to the people and we will execute it by continuing to keep to our core values of empowering those who need it most.”
The material has been provided by InstaForex Company – www.instaforex.com