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PAXFUL Now allows Users From Over 35 Countries to Add and Use Bank Accounts to Trade

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Leading Peer to Peer online marketplace for bitcoin and giftcards, Paxful has announced it had added support for users from over 35 countries to add their bank accounts and use it for trading.


The features allows users from about 4 continents to trade on the platform by adding their bank accounts and easily share them with their trade partners with just 2 clicks of a button during bank transfer trades.

The countries supported are Azerbaijan, Bosnia and Herzegovina, Brazil, Dominican Republic, Georgia, Kazakhstan, Mauritania, Moldova, Montenegro, Saudi Arabia, Serbia, Tunisia, Turkey, United Arab Emirates, British Virgin Islands, Sao Tome and Principe, El Salvador, Ukraine, Kosovo, Andorra, Cyprus, Denmark, Faroe Islands, France, Gibraltar, Greece, Greenland, Iceland, Ireland, Italy, Lithuania, Poland, Romania, Sweden, UK.


Exchange Trading Volume


Paxful was founded in few years ago by Ray Youssef and Artur Schaback and has positioned itself as an industry leader in the peer to peer market across the Africa and the world.

In 2016, the CEO of Paxful, Youssef Ray said in an interview that the platform processes 8,000 Bitcoin transactions per day with represents a 4% of total onchain transaction as at that time.


The P2P exchange commands a weekly volume of over $5 Million dollars from the Nigerian Market alone.

New Product Updates


Paxful also released some interesting product updates which were designed to make trading on the platform easier, faster, smarter and secure.

As one of the leading P2P marketplaces for the sale and purchase of bitcoin and giftcards, Paxful recently released a giftcard trading feature which helps to automate gift card trading by letting vendors that selected the option to view receipts of the giftcards before seeing the giftcard codes. This helps to make trades faster and better.


Paxful now also allows traders who create Buy offers to have their offers visible without having the 0.02BTC previously needed to make their offer visible.

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Popular Malaysian Thespian Pleads Guilty to a $50,000 Crpyto Assets Theft Claim By His Producer

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Few days ago, it was revealed by a Malaysian local media that a Malaysian actor, Mas Khan, was sentenced to 26 months imprisonment with an option of $4,000 as fine for robbing his executive producer of a whopping $50,000 worth of cryptocurrency.

Mas Khan, who played a significant role in a  widespread local movie dubbed Abang Long Fadil 2, looted his producers’ wallet twice very early March 7 2019, after gaining access to his private keys. 

source: azhan.co

The first plundering saw Khan emptying approximately $14,000 worth of Cryptocurrency from his executive producer. On another day, a sizeable sum of about $36,000 was evacuated by Khan from Datuk A. Aida, his producer.

What is not clear, at the moment, is the exact amount that the Abang Long Fadil 2 Actor appropriated.

The crypto appropriation was carried out very close to Kuala Lumpur in the high class district of Taman Ukay Perdana.

Khan pleaded guilty in the court of first instance after initially not willing to do so. This fast-tracked his case as the magistrate sentenced Khan, christened Mas Hidzhir Khan bin Mas Fadzillah Khan, to one year imprisonment or £1600 for the first count. Khan was sentenced to 14 months in jail or $2,300 as fine for the second count. The section of the Malaysian law under which Khan was sentenced provides for a maximum prison term of seven years or fine or both. 

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Defrauded Indians Abduct A 38 Year Old Man For a $ 200,000 Bitcoin –Connected Scam

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The Kerala Bitcoin community went bonkers when indigenous news outlets in Kerela, India revealed this week that eleven people were detained for kidnapping one 38 years old Mohammed Nawaz . They alleged that he had conned them into a bitcoin-connected scam.

More succinctly, it was reported that the alleged offender claimed to have influenced inhabitants of the area to put their money in some “Bitcoin Network Investment”, a cryptocurrency connected investment plan which was learned to be a fraud much later.

A whooping sum of $200,320 went down the drain because of this investment scam. The affected investors then resorted to jungle justice. The people decided they were not having any of this and on this note, they got hoodlums to abduct Muhammed Nawaz.

The local news outlet also disclosed that the police got hold of the kidnappers and arrested them. Subsequently, Nawaz decided to sell off his properties and appropriate same in settling the claims made against him.

Prior to this time, Kerala, which happens to be the region with the highest number of literates in India disclosed that it projects to train 20,000 Blockchain experts. In their flagship program in September, the government-endorsed Blockchain Academy KDA espoused on the idea of using blockchain to secure the issue of School certificates. 

source: prokerala.com

 Although proponents of Bitcoin continue to activate for its mainstream use, clever swindlers are also bent on extinguishing their efforts by using the tool for cryptocurrency-related fraudulent schemes.

source: nsbanking.com

In fact, cryptocurrency connected scams are on the rise as one Olalekan Jacob Ponle, aka Woodberry was reported by Coinfomania to have been detained for fraudulently coverting some proportion( $15,000) of monies worth millions of dollars from some United States companies into Bitcoin. Sadly, the FBI have expressed regrets over their inability to repossess the monies due to the complexity of the Bitcoin technology. It is to be noted that Olalekan is still a suspect as the world awaits the verdict of the court.

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BINANCE OFFERS CUSTOMERS A 4% CASHBACK BY ACQUIRING PAYMENT GIANT SWIPE

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On Tuesday, the 7th of June 2020, the global digital exchange giant, Binance married commerce with cryptocurrency by acquiring Swipe, a leading multi-asset digital application. Swipe offers users an avenue to trade, convert and expend cryptocurrencies via its digital wallet and Visa debit Card platform.

source: Binance news

 This acquisition will help to promote the use of cryptocurrencies and other digital assets to the masses. It will also make payments and purchases with the use of digital assets to become more attractive to conventional financial systems, the world over, as the arrangement is not in any way to sideline fiat currencies, but to bridge the gap between the use of fiat currencies and cryptocurrencies.

Chang Peng Zhao, the Binance CEO, stated that: 

source: fortune.com

“To achieve our mission of making crypto more accessible to the masses, off-ramps are a key component as well. By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone,” 

He continued that:

 “Swipe’s exceptional team has made great strides in furthering this mission and has been instrumental in the industry for bridging the gap between commerce and crypto. The Swipe Wallet alone is unique which acts as a digital bank account for its users, providing access to traditional banking services. We are thrilled to work with a team that shares the same core values and looking forward to our larger efforts ahead.” 

The monetary value of the acquisition was not announced.

Joselito Lizarondo, Swipe CEO, revealed that:

“Swipe’s goal is to further synchronize crypto with fiat currency-based transactions…Partnering with Binance, given their world-recognized track record and user base, alongside a team that constantly executes, will place Swipe in the position to make cryptocurrencies more accessible for millions of users worldwide. We are excited to work with Binance to continue innovating in this crypto-banking space to further build towards mass adoption on our current and future product lines.” 

@jlswipe/ twitter

While the companies revealed that the future plans of the acquisition will be disclosed much later, Swipe has listed BNB, giving its users the benefit of trading BNB with their traditional bank accounts which has to be linked to their wallets. This is done via Swift wire transfers and Single Euro Payments Area (SEPA).

The result of this is that, BNB can now be spent with fiat currency in 50 million plus locations worldwide through the Swipe Visa Debit Card. 

What is more, when buying Bitcoin, Card holders can now enjoy 4% cashback plus other pecks when using SXP on the Swipe platform.

Where ever you are in the 31 countries where Swipe is available, all you have to do is push buttons on your phone and swipe your card, and BOOM! You get to convert your cryptocurrencies to fiat currency via the Visa payment rails. 

source: personal financial.com

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CEO of Cryptocurrency Agency declared bankrupt

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Willie Breedt, CEO of VaultAge solutions and South African national has been tracked down by angered investors and South African authorities after he has been allegedly accused of scam. He was accused of stealing about $16.3 million from about 2,000 investors through his VaultAge scheme. He was forced to bankruptcy by a local court after one of his largest investors filed for sequestration order against him. According to a recent report from News24, the sequestration order was initiated on 3rd July by Simon Dix; one of VaultAge’s largest investors who invested over $440,000; 7.5 million South African Rand in Breedt’s company.
Willie Breedt founded VaultAge solutions in 2018, assuring customers weekly returns on investment through crypto trading and mining and taking in investments from $50. The investors are said to have received only 1% of expected return on investments. An estimated amount of about 227 million South African Rand was invested by 2000 investors into Breedt’s VaultAge solutions according to the report.
Breedt was said to have went into hiding few weeks back after some investors led a colonel to find Breedt and recover their money from him; he filed a case of intimidation with the police before he disappeared according to the report.
However, he was tracked to a guest house in Silver Lakes Pretoria where he was hiding. He allegedly booked the guesthouse in the name of his friend probably trying to hide his identity. Shortly after the Sequestration order was granted to Simon, his apartment in Silver Lakes was raided. Laptops, Ledger Nano crypto hardwallet, and a number of electronic devices were confiscated by the Police, the Hawks and other specialists. The nano wallet might have contained some of the missing funds. His Bank account was reportedly freezed too early this month. According to News24, Breedt has not been arrested.

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