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Bitcoin Hustling Paxful Method $100 a day (Canadian Friendly)

Discussion in 'Making Money' started by yellowcat, May 6, 2016.

  1. yellowcat

    yellowcat Regular Member

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    Hey all, i thought i would give a method out for my 100th post on Bhw ^
    Essentially what you do is sell bitcoins on Paxful.
    Paxful has gained some popularity over the years.
    It is associated with the XXX section of Backpage.

    Brief history

    Backpage is a classified website like kijiji and craigslist, only difference is there is a section where you can buy escorts and other sketchy XXX stuff. Well they use to accept mastercard/visa for payments but after a while mastercard/visa dropped them. So backpage now uses bitcoins for their XXX section. There is a "how to buy bitcoins" page on backpage, it directs to paxful. So essentially allot of people buying bitcoins on paxful are none tech savvy escorts just trying to make a living. This is why i believe it is more easier to sell btc at a higher price then localbitcoins(Plus localbitcoins website design is atrocious).
    Anyways moving on.

    For this method you will be Buying bitcoins from coinbase, selling them on paxful rinse and repeat.

    Buying bitcoins on coinbase. I prefer them because you are able to instantly purchase coins through interac online. Unlike having to wait days for the purchase to go through like on bitstamp ect, It's easy just sign up ,verify and you will get a limit of roughly $200 to buy btc. The time window for purchasing btc is important. Purchasing bitcoins at market value is a must also.

    Selling Bitcoins on Paxful.
    Okay this is where it gets tricky, Everyone and their dog is trying to scam you with chargebacks.But this is a good thing, it works the market to your favor.There are many different avenues you can take for selling btc but i will start with the 2 safest ways to not get scammed.

    Moneygram and Western Union.
    You have to physically walk to moneygram/western union to pick the money up. The scammers can't chargeback since the cash is already in your hand. So just simply go to the sell section of paxful select moneygram and western union and sell coins at a 15%-35% mark up. This means for every $100 of btc you sell you will make $15-$35. Scout out where you live, look for places that are close that give cash loans, they typically have western union same with walmart. Shoppers drug mart has moneygram. I suggest you get a bike or something.
    It goes like this; Post your sell add -> Give buyer your first and last name ,location-> have buyer send you the money transfer number(I prefer getting a receipt because allot of people mess up the numbers), first and last name, depending on how stingy the western union is you may have to get the address etc. Once the cash is in hand release the coins.

    Bank direct deposit's
    I'm in canada, so i like using scotiabank/rbc/bmo/td if you are young and don't have an account just tell them you are a student studying philanthropy. Student's get free bank accounts. Anyways scout out the area for how many banks are close to you. Even if only one is close that is okay. Pretend a Rbc bank branch is close to you, and you sell coins through Bank of montreal, you can just transfer the funds to Rbc and withdrawal them at rbc, easy work around. You will need to get a direct deposit form from each bank.
    Direct Bank Deposit's sell for roughly 15%-4% but that's okay since people will normally purchase $500-$2000 worth for the smaller percentages, which can net you some good cash. Make sure people upload a physical receipt, you want to avoid people using interac transfers or anything else because these are easily chargebackable. Keep in mind people have been screwed over by requesting a refund through this, It is not 100% safe but id say it is 95% safe. You don't have to physically go to the bank but i prefer to for large amounts. Just so someone doesn't chargeback scam you.

    Paypal
    Always be paranoid for this method. Paypal hands out chargebacks like jehovah witness's hand out bibles on a hot summer day. To add onto this, Hacked paypal accounts sell a dime a dozen on the darknet. So you don't only have to watch out for Paypal scammers using their own accounts, but people using hacked paypal accounts to make purchases also. Sales are very rewarding if done correctly. People genuinely request ID verification, some with holding id up to face, others may also want a written letter with a signature stating they will not chargeback, some may only request reputable accounts. Pick your poison and go for it. At the start you may be scammed, but after a while you will build up a trust worthy client-base of returning customers.

    Building Reputation
    Rep is a joke :heh: on paxful. For people just starting out i suggest you try to get at-least 10+ rep.
    Simply go over to https://www.hushmail.com/signup/ and create an email.
    Create a new account on paxful with the email. Add a picture and choose a none sketchy username to make it legit.
    With your main account make a posting for paypal, at a 0% rate, select some random currency such as "LSL libyan dinar" etc. The search engine there uses currencies so the chances of someone looking at LSL currency for paypal is next to nothing.
    Buy the btc on your 2nd account. Rinse and repeat.
    It's just a matter of shuffling coins and accounts around.

    I suggest you get familiar with paxful at first, Get familiar with your payment methods as well, I hear in the states it's easier to scam through banking so look into that if you are american.
     
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    Last edited: May 6, 2016
  2. Shadexpwn

    Shadexpwn Jr. VIP Jr. VIP

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    Sounds a bit like new era gold farming.

    Keep in mid you can always buy Bitcoin at other places like Xapo too.

    Don't be afraid to venture into different sites to twist this, all should work well.
     
  3. fanatik1389

    fanatik1389 Regular Member

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    Sounds interesting. How much did you made doing this?
     
  4. yellowcat

    yellowcat Regular Member

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    Enough to say i successfully ran a covert business in Walmart :lol
     
  5. Sp3ctrum

    Sp3ctrum Registered Member

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    This is a rare breed of unique and informative methods, thanks!
     
  6. yellowcat

    yellowcat Regular Member

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    I wish you the best of luck !
     
  7. paidmason

    paidmason Newbie

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    so how much we must prepare to start this method ?
     
  8. blackhatcrazen

    blackhatcrazen Regular Member

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    I will try this wish me luck..
     
  9. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    Are you not doing this anymore, OP?

    It sounds like something, which can get saturated really fast.
     
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  10. jacker818

    jacker818 Power Member

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    I sell BTC at 105% and it flies on other forums, this is how i do it..
     
  11. financhill

    financhill Registered Member

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    Dont forget to mix your coins.
     
  12. dhihi

    dhihi Junior Member

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    Unique arbitrage method. First time I hear about that Paxful site, looks interesting
     
  13. yellowcat

    yellowcat Regular Member

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    nope i got bored/tired of people trying to scam me every day XD
    I doubt it will get saturated, i don't even believe in the whole "saturation" thing, i think it's just what people say to throw off newbies or an excuse for when they fail.
    The price really relies on scammer scab nabz scamming and none technologically inclined escorts, and i don't so see either going away anytime soon
     
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    Last edited: May 8, 2016
  14. yellowcat

    yellowcat Regular Member

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    Oh btw you seem to be so obsessed with correlating being a student and having "lack of" intelligence, for some reason i believe you think age == intelligence
    So i have a question for you, who would you rather trust to do heart surgery on you?
    A 50 year old man who studied an hour a week.
    or a "student" who beats on his craft utterly relentless for 5 years. ^
     
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    Last edited: May 8, 2016
  15. Syste M

    Syste M BANNED BANNED

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    ^^No actually I'm correlating you to having a lack of intelligence because of your age.

    Its not your fault you're ignorant.

    And this is all coming for someone who started a thread called: "Hello Bhw "meow"

    ^^Its things like that why I think you lack intelligence actually.

    Also the .png picture you created above with the word "gay" pointing to my name is another reason why I think you lack intelligence. You are also ignorant once again and try to use homo-phobic slurs to insult people. Using the word "gay" as an insult or flame, shows just how truely ignorant and low intelligence you really are. You are a closed minded, homo-phobic hateful person who shared a method that could get people in trouble for attempting it.

    So you can take your crap method, ignorance and homo-phobic thoughts elsewhere bro, I'm done arguing with you. Hope you get arrested soon for money laundering, maybe that'll teach you some common sense.
     
    Last edited: May 8, 2016
  16. yellowcat

    yellowcat Regular Member

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    You go have yourself a meowful day! meowf.jpg
     
  17. veki971

    veki971 Registered Member

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    Hey OP, from what I read there is a true tough situation with PayPal scamers, and as it looks there is no efficient way of preventing it, but with Moneygram and Western Union it may work nicely, although they charge some substantial fees. Definitely worth a try. Thanks.
     
  18. yellowcat

    yellowcat Regular Member

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    Bump for epic method
     
  19. Mrkoco

    Mrkoco Power Member

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    It still works on local bitcoins too
     
  20. Sarah Jane

    Sarah Jane BANNED BANNED

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    there is no bitcoin alive now,its dead