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Payfair (PFR)

Market Cap

$315,862 USD

Volume (24h)

-

2.6
SAFETY

Ranking factors:

  • Markets

    How many exchanges are there to trade this coin?

    Payfair Markets Rank: 2/100

  • Volume Ratio

    How actively is this asset being traded on the market?

    Payfair Volume Ratio Rank: 1/100

  • Market Cap

    The total cost of all coins available.

    Payfair Market Cap Rank: 51/100

  • 24h Change

    Is the price moving up or down?

    Payfair 24h Change Rank: 50/100

  • Social Following

    How many users are following this coin?

    Payfair Social Following Rank: 57/100

  • Google Trends

    How many users are searching for the coin?

    Payfair Google Trends Rank: 1/100

  • Twitter Citation

    How many users are talking about this coin in Twitter?

    Payfair Twitter Citation Rank: 1/100

  • User Voting

    How popular is this coin among Cointobuy community?

    Payfair User Voting Rank: 82/100

Payfair investment analysis

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.

current price
$0.003549
Potential Profit

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.

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Potential Price

The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.

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Rankings

The current coin position in cryptocurrency rankings by Safety Rank and Potential Profit.

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by Safety
-
by Profit
historical data

How to buy Payfair?

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.

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Is it safe to invest in PFR now?

It could be a good idea to invest in PFR now that LocalBitcoins has shown signs that they are going to begin complying with KYC. While they have been the longstanding number one venue for those who are looking to discreetly purchase Bitcoin, that could be coming to an end. It's likely that full compliance will likely follow, and a decentralized option like PFR could be a great alternative.

If we take a look at the Payfair analysis, we can see that the price has dropped substantially. While this can be disheartening, it can also be a solid opportunity to get in on the ground floor of a great project. This is especially true if you're interested in earning some side income, and there's three ways to do so with this platform.

First, if you have any interest in being a local cryptocurrency provider, then there's plenty of room for you to begin offering your services here. Marketplace providers can create listings using a "margin rate", which will automatically charge buyers the current market price of an asset, plus whatever percentage you want to take for yourself.

If that's not your style, then you could also run an escrow node. This type of node acts as an arbitrator if there is ever a dispute during a transaction. You'll be required to review any evidence, and then make a ruling in favor of one party.

If that sounds like too much work too, then there's yet another option. If you've got 10,000 tokens, then you can run a trust node. Every transaction must run through these for verification, and it's how the entire system works. Interestingly enough, this is one of the few nodes where you are not required to have a VPS.

While the earnings are quite low now, once volume picks up for these assets it could be a substantial side income producer since it is based on a percentage of the fees taken by the platform. The team at PFR is ramping up to add even more tools to their line up, including a goods and services escrow for freelancers or online sellers.

This could prove to be an excellent tool for the growing market of remote workers who need reliable options to make sure that they get paid.

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