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Transcript Anita Posch: Hello Ray. Thanks for taking the time to do this interview with me today. Ray, you are paxful egypt co- founder and CEO of Paxful. We will get deeper paxful egypt the values and goals of Paxful a little later. Can you please start with a short introduction to what Paxful is doing in which countries is it operating, and how many people are you serving?
Ray Youssef: Paxful is https://magazin-show.ru/2019/bitcoin-era-review-2019.html people powered marketplace for paxful egypt transfers for anywhere.
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Paxful egypt anytime. Paxful egypt borders. Paxful serves about almost 4 million people in every country in the world, but our biggest user bases are in emerging markets like Africa, India, and also the United States. We serve the entire world.
Anita Posch: I thought your focus is on emerging countries and I didn't know that you also have a focus on paxful egypt U S that's interesting.
I mean, I know you have an office in there in New York. I've been there. Paxful egypt met with one of your marketing people last year.
Ray Youssef: Oh nice. Anita Posch: I was looking forward to do this interview learn more here you since February, because back then I heard an interview with you when I paxful egypt sitting click at this page the plane to Zimbabwe to prepare myself, to https://magazin-show.ru/2019/polymath-company.html a little bit more about Bitcoin usage in Africa.
And I really liked the way you approach things and also your attitude to business and life seems to be quite different from what the, I would say, paxful egypt Silicon Valley founder style is, is maybe your life story and your upbringing, a paxful egypt for that. Paxful egypt Youssef: Yeah, absolutely.
I'm not one of those Silicon Valley boys, you know, first generation immigrants, African immigrants to the United States.
My parents came to New York city from Egypt when I was two years old. I grew up working in their new stand Columbus circle.
It's an hell's kitchen in Manhattan in the eighties, which was quite a different time, very different, New York. Paxful egypt I mining asic 2019 vs gpu up working on the paxful egypt and understanding how to deal with people.
And then I got a computer when I was 19, and I started developing right away to myself with a code, had, two startups, which were successful my first two.
Then, I thought I and I needed a break was I was in the ringtone business, honestly, and it was, it was extremely difficult. It was just when Napster went down, I had paxful egypt deal with all the record labels. Anyway, long story short, I took a break after buying my mother a brownstone in New York.
That paxful egypt my dream, and then I took paxful egypt break, traveled the world, did boxing, MMA, what do you call the ashes time?
And my mother got a divorce. So now is that the buyer, another place.
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So I came back and I started working hard again. I thought I was going to hit it paxful egypt with the Paxful egypt touch. Instead, I had 11 failures in a row click I finally got to Paxful. Anita Posch: Oh, that's very interesting.
I mean, I read about that story a little bit. I found a website within a story about you and Paxful egypt found also the part that you were a mixed martial art fighter. So did you do this really for money?
Ray Youssef: No, it wasn't for money. It was just paxful egypt understand myself a little bit, knowing my limitations or know the kind of person I really was.
I was searching for myself.
I was a know. I was a super nerd. I still am a super nerd, but. Paxful egypt first two startups I built by myself completely bootstrapped and they took paxful egypt big toll on my life. I was trying to understand who I was, what I paxful egypt here paxful egypt do, so I wanted to explore other parts of itself.
Anita Posch: Okay. Paxful egypt understand. And that's why you also try to be an actor. Ray Youssef: Yeah. We're trying to enjoy it. I enjoy writing scripts far more though. Anita Posch: it seems to me like a, a lifelong learning and then, getting paxful egypt what you are and also to find, the thing you really like to do.
And it paxful egypt that this, came perfectly together with Bitcoin in a way. Ray Youssef: Absolutely.
I mean, looking at my job now as a CEO of Paxful, I could not do this job unless I had the lessons paxful egypt every single one of those 11 failures taught me that year. I mean, it's, it's amazing.
Paxful CEO Ray Youssef on Bitcoin Usage in Africa and its Emerging Market Future
Literally, I could not do this job. Unless I had every single one of those experiences. So here I am guys, you know, six years ago in New York city, I was almost in my cofounder were surfing couches just to get by. We had run to the end of our savings and paxful egypt had to make some really hard paxful egypt with the values that we learned stayed with us.
Paxful has three values. Only three, but they're great ones they are: one, paxful egypt connected to the street, two, build paxful egypt people, Paxful is not an abstract thing that machines use.
It's a real tool that people use and paxful egypt, be heroic and I'll be paxful egypt to talk to you about how those three manifests everyday here at Paxful. Anita Posch: Yes, we will. We'll talk about that. That's a, I think you also mentioned another five values.
I think we can talk about that later.Paxful Review - The Complete Review \u0026 Tutorial - How to Trade (2020)
And one of these is social, social justice, I think, and I'm sure. Interested in that.
So one of read article startups was called easybitz.
What did you try to do. Ray Youssef: We were paxful egypt to get retail merchants like bars and hotdog vendors, restaurants to accept Bitcoin using a POS and it flopped.
We tried it for a year and a half, but no one had any Bitcoin to paxful egypt.
So it wasn't the interest of click to train their staff on how to accept bitcoin it just didn't make any sense.
We were trying to solve a problem that did not exist. And that goes back to our second value. We build for people, meaning it starts people first.
You have to go to the people, find out what problems they have and click something to help them with their problems.
So we said, okay, we're going to pivot. What problems do we have? Me and my co founder, Paxful egypt looked around and said, Hey man, we don't even have an apartment. This is bad. We need to make some money.
So a friend of ours came up to us one day and said, Hey guys, you learn more here you can make money selling bitcoin for gift cards. I was like, what? That doesn't make any sense. Like, yeah, you can take a PayPal, my cash gift card and you can buy one of paxful egypt cards and charge it up.
I didn't believe it, but I was desperate. I had nothing to lose. I barely had bucks of bitcoin left. paxful egypt
So I did it. It worked.
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All of a sudden I had paxful egypt for bucks on, paxful egypt kept repeating that. And then we weren't homeless anymore. And we're like, Hey. This gift card paxful egypt is, is incredibly profitable.
Ray Youssef: Bringing Bitcoin Into Africa With Gift Cards Is Solving Real Problems
It's, we didn't know it at the time, but it's absolutely the best way to onboard the unbanked, and there's 40 million unbanked in paxful egypt United States, which we'll get to later.
So then we decided, Hey, let's build a system. That allows people paxful egypt get their Bitcoin quickly and sell their Bitcoin too, paxful egypt focused around things like gift cards and other digital assets.
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