CJ – Cryptocurrency Enthusiast
Ethereum was withdrawn from Paxful's marketplace for a variety of reasons
The move of Ethereum from PoW to PoS consensus and the assertion that Ethereum is a centralized platform are some of the justifications
The company's ultimate goal is to achieve honesty
Paxful, a global platform for peer-to-peer trading, has removed the Ethereum native token, ETH, from its marketplace, stating that "integrity over money" was its goal. Paxful CEO Ray Youssef tweeted on December 20, 2022 that the platform had started accepting Ethereum, but also announced that the ETH transaction would be terminated on Thursday, giving customers time to "settle deals and arguments."
The main reason for Paxful's decision to remove Ethereum from its marketplace was the network's switch from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus process. Youssef claimed that Bitcoin, with its PoW design, is "honest money," but Ethereum, after switching to PoS, has become a "digital kind of cash."
Paxful is not the only platform that allows individuals to invest in Bitcoin and other crypto assets. There are many other platforms that offer Bitcoin investment and Bitcoin cash buy options, as well as other crypto assets such as Bitcoins for sale. One of the best ways to buy, sell and trade Bitcoin is through a reputable cryptocurrency trading platform such as BCBitcoin.