The process of Transferring Bitcoins from Paxful to LocalBitcoins wallet and vice versa is simple. All you need is a wallet in both platforms and Bitcoins.
How to Transfer Bitcoins from Paxful to LocalBitcoins
- Login to your Paxful Account
- Go to your wallet
- Click Send
- Enter Your LocalBitcoins Wallet Address
- Send your Bitcoins
- Waiting for Confirmation of receipt
NOTE: Paxful will charge you a Withdrawal fee to Send Bitcoins to LocalBitcoins, and LocalBitcoins will as well charge you some fee to deposit Bitcoins. Therefore, you need to do your math on whether Selling Bitcoins on Paxful and then buying them on LocalBitcoins will cost you less than the total fee that you will be charged to withdraw and deposit.
Is it a good idea to transfer Bitcoins to external wallets?
I don’t recommend transferring Bitcoins from one Exchange platform to another because if something goes wrong then you will lose your Bitcoins. For example, if you accidentally send Bitcoins to the wrong address you cannot reverse them.
If you are interested to learn more about how to become a successful trader and some of the most common scams on Paxful and how to avoid being scammed, then get a copy of my book: Bitcoin Trading with Paxful.
Lastly, do you have any question about this post, education related, or something else? We are responding.