Payoneer merchants can be annoying at times, giving you meaningless rates and getting aggressive with funds transfer processes. Some might even try to scam you in the process, let’s get rid of that!
Another reason why you might want to exchange your Payoneer funds for bitcoins is due to variation in rates, even though often times there won’t be enough reasonable difference in conversion rates, at times it might get beneficial.
Now let’s dive straight in. There are several services online that allow the exchange of bitcoins for Payoneer funds but the one I’ll recommend is PAXFUL.
More often than not, you must have seen there adverts flying across your screen in recent time, as there advertisement has been pretty aggressive in Nigeria especially, these days.
How To Exchange Your Payoneer Funds For Bitcoins On PAXFUL
Head to PAXFUL website, better still, directly to the PAYONEER TO BITCOIN Exchange Page On PAXFUL. On the navigation menu, select “BUY BITCOIN“. Of course, you have to register and login first.
Then on the next page, select Payoneer as the “Way To Pay“. You can always type it in and search instead of scrolling down the long list of unwanted items. Subsequent to that, click on “Search“.
It will bring a list of available vendor offers as shown below:
Look for anyone with a good reputation and click the “BUY” button that corresponds to it.
On the next page, you will have to input the amount of Payoneer you have to sell, you will see the worth of bitcoin you will get and below all, you will see the limits of the vendor. Click on “BUY NOW“.
This will automatically open a trade session with the vendor, you will be given 30 minutes to finalize the trade. Which means, you and the vendor both have 30minutes to send Payoneer and receive bitcoins.
In the message box, notify the vendor with a message, the vendor will reply with his/her Payoneer email. Send Payoneer funds to the Email and upload a screenshot.
You Don’t Need To Worry About Getting Scammed: Once you open a trade session, PAXFUL uses escrow services and would withdraw the equivalent amount of bitcoins for the trade from the vendor’s wallet. So just in case, if the vendor acts funny, you still get paid anyways.
Once you have sent the Payoneer funds and uploaded a screenshot for the vendor to confirm, click on “I HAVE PAID THE SELLER AS REQUESTED“.
Once you click on that, the trade countdown will stop. The vendor will confirm and release bitcoins to you. This bitcoins will be found in your PAXFUL wallet which is more like a normal bitcoin wallet.
If the vendor refuses to release bitcoins then a dispute will open automatically for the trade, PAXFUL moderators will take a look at the trade and release the bitcoins to you after all.
From there you can flex however you like with your Bitcoins.
Meanwhile, we at Hustle.ng buy Payoneer Funds as well, you can check out our services.
DISCLAIMER: Whatever vendor username that might have been used in the screenshot is not endorsed by me, that was just a sample. Trade with whichever vendor you want.
Don’t forget to share this.