Describe the company – the elevator pitch …
Paxful is a peer to peer Bitcoin marketplace. An universal wallet and translator for money. This is where people from all over the world can meet and exchange different payment methods. We believe that online payments are a human right and are making it happen for those who wouldn’t normally have a way to do so.
How to Keep Your Bitcoin Wallet Safe – https://t.co/GCz54DGNnw
— Paxful (@paxful) July 19, 2017
How are you different?
Other wallets only let you add or send money in a few ways with a bank account etc.. We use a P2P network of vendors to convert 300+ forms of fiat into crypto and vice-versa.
Why will the company/product do well?
The 2.5 billion underbanked people of the world want a financial passport and we are giving it to them. We are bootstrapped almost two years old and growing 30% each month because we actually listen to our customers.
Where are you based?
USA Delaware Corp with our Dev HQ in Estonia and multiple support offices in Asia and South America
When was the company launched?
— Paxful (@paxful) July 14, 2017
What have been your biggest wins to date?
When the 2nd biggest classifieds ads site in the world lost their Visa/Mastercard merchant account and switched to Bitcoin. Their users were confused, desperate and vulnerable. The entire crypto space ignored them because it was too difficult to educate and onboard them as they were non- technical and unbanked. We were just two guys but we got on the phones with each and every one of these people. They all began flooding to us as word got out we could help. Based on their feedback we tailored the product to become the place where everyday users got and used their bitcoin. We even made a video about it.
What type of people (market segment) are you trying to attract to your product?
We got into bitcoin for the promise of it helping the people who needed it most. The unbanked people of the world who had little to no financial freedom outside of their local areas. We wanted to help this invisible class of people by giving them financial services as a human right. We want to help them wherever they may be, Africa, India, Asia even in our own backyard here in the USA.
Tell us about your team?
Artur Schaback and I met at a bitcoin dev meetup in New York City. It was our first time learning about bitcoin and we were introduced by the organizer. Both Artur and I are developers and we both have the same mind for business, we like helping people with their problems and we think big. The rest of the team we have built in Estonia, Artur’s home country. We are essentially a family and all believe completely in our ultimate mission – to give financial services and true independence to the unbanked peoples of the world. This is what unites us as we work, eat and play together.
What are your long term plans for your product/company?
We are focused on helping people, all the users of our platform all ask for different things. We are launching products now for merchants to be able to accept ANY form of payment even from the 2.5 billion unbanked people without any risk, something credit cards cannot do but thanks to bitcoin, blockchain technology, and our P2P market we’ve made it possible. We will also be giving our unbanked users around the world access to a prepaid reloadable VISA/MC card in the near future and launching a second market for other cryptocurrency and tokens for those who want to invest easily in this new world of money.
What are your favorite tech gadgets?
Little gadgets that solve big problems with style are always fun. Electric lighters, watches that broadcast notifications from your phone, slick little flashlights, combs and pens.. or many combinations of them.
What tech gadgets do you wish you could use to help you?
I have wild hair and need a comb always, I also like having a pen on me at all times and whatever other cool little device I could use to wow my buddies on a night out is appreciated.
How do people get in touch with you?
We are always available and Artur and I personally do support a few times a week at [email protected]
Ray Youssef – CEO of Paxful