Payfair is a decentralized competitor to LocalBitcoins. They offer investors the freedom to transact without interference from outside sources such as governments, or even the website owners themselves. Transactions can be made using a smart contract based escrow service, and if there is a dispute, then community members who run "escrow nodes" provide the arbitration as a completely impartial third party.
LocalBitcoins has recently announced that they will begin KYC verification for accounts that go over a certain volume. This is good news for Payfair who is now in a position to make themselves a great alternative. They've still got a way to go as far as adoption is concerned, but the team makes weekly updates, and they are dedicated to keeping the project on track.
If you're interested in making a PayFair Investment, then you'll also be interested to know that there are three ways for you to earn income from the platform. Read on to find out how.
Investors can buy Payfair on only a handful of exchanges but for the ones that are available the trading volume is good enough that you'll be able to easily make a trade. Ethereum is currently the only trading pair, so if you don't have any then you'll need to trade your Bitcoin or another cryptocurrency for some first before you can buy PFR.
This is an ERC20 token, and that means you'll be able to safely store it in any wallet that accepts ERC20 tokens. There are plenty of options available for this including Meta Mask, Coinomi's mobile wallet, or even hardware wallet options such as Ledger or Trezor. No matter which wallet you use, be sure to backup your seed or wallet file in case your device is lost, stolen or becomes inoperable. You'll need this in order to regain access to your funds.