Paxful was established in 2015 and soon became a significant player in the rise of Bitcoin. The founder’s Ray Youssef and Artur Schaback realized the opportunity to utilize their business as commercial aid for those with no banks and access to banking services as well as a social good by offering banking assistance when it is most needed in the developing world, which lacks infrastructure such as electricity grids, roads and so on. This makes them difficult that traditional bankers can function efficiently. Paxful’s founders are looking for financial success by using Bitcoin trading to create a means and social good by helping provide banking opportunities in areas where they are urgently needed.
In 2018 Paxful’s 2500-20million in revenue came from Africa. Africa region. This innovative approach has helped spread awareness about Bitcoin due to its multi-tier affiliate program; people can associate a person with Bitcoin – something that isn’t currently feasible for banks in the majority of cases.
Paxful improved the credibility of trading in crypto by giving a face to Bitcoin trading and spreading the word across the globe through their unique idea of affiliates who promote trading via social media platforms like Facebook or Twitter and a more significant amount of users coming in contact with one another which increases liquidity; and providing tools such as Google Translate so traders can communicate in a variety of languages without any difficulty.
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