Assets, Bitcoin

Can I Receive Bitcoin on Paxful Without Verification?

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million.

NOTE: Warning: In order to protect your security and privacy, it is recommended that you verify your identity before using Paxful to receive Bitcoin. Without verification, you may be at risk of fraud or having your funds stolen. Additionally, Paxful may not provide customer support if any issues arise from an unverified account.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

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