Trade For Free. You may think of Paxful as a newer but smaller version of LocalBitcoins. You are probably familiar with some of these payment methods, such as buying from an exchange with a debit or credit card. The payment system of Venmo was designed to be user-centric and pretty convenient to both parties involved. There is a lot of risk in buying bitcoin with Venmo. Log on to the Paxful. For example, while some people may prefer to buy stuff using their Venmo balance itself, others may prefer using their credit or debit cards.