Last Friday night, the usual party vibe and free flow of booze was also filled with talks on Bitcoin and how Paxful, a leader in peer-to-peer bitcoin trading marketplaces in the world, is able to streamline the process of buying and selling bitcoin. Headlining the event was Aleksei Petrov, Customer Support Specialist for Paxful Inc.
"Bitcoin and blockchain are really often used in the same phrase. But there's actually a difference. If a Bitcoin is a digital currency, then the blockchain is actually a place where you can see and check every single transaction made. It's a record of every single bitcoin transaction made out there. It's completely transparent, super useful, and easy to check and look at," Petrov said. He also emphasized that the process becomes peer-to-peer and there's an absence of a middleman. Just the user, and the person he want to transact with.
Currently, Paxful has 7,318 vendors with more than 480,000 bitcoins bought by roughly 800,000 customers. With Paxful, aside from buying and selling bitcoin in real time, there is also a secure escrow system to make transactions more secure, a free wallet maintained by BitGo, and the two-tier affiliate program also doesn't hurt as an added bonus for referring friends.
"Basically, you never have a middleman, you don't have a bank, you don't have any money translator in between. It's just you and that other person that you want to trade with who you're going to send money to. Because of this, Bitcoin transactions are extremely fast, unlimited, and completely open.
With the collaboration of BlockchainSpace PH, the event was filled to the brim with interested users and crypto enthusiasts, of whom five attendees won 100USD worth of bitcoin as a giveaway.
"If you use cryptocurrency, you use bitcoin, you basically have access to any financial system in the world. Any market, any country, without any limitations."
BlockchainSpace is a blockchain dedicated community platform hosting meetups, hackathons and specialized industry forums with an anchor location in the heart of the Manila business district.