My Paxum account is blocked without any reason. I was ordinary affiliate but as you can see it's not enough to protect an account from ban. It means that your funds are not safe in this system. They can block an account any day and you will loose an access to your assets.
The ONLY reason why I used this dying and outdated system is because it was the only option to receive small sums from different affiliate programs wich low commissions. Even if you earned 20 dollars a month you could receive them and accumulate on such system and then just use a credit card to withdraw your honestly eaned money. It's funny but I remember a time when I was a bigger affiliate and asked affiliate programs to add Paxum as a payment option.
But today when cryptocurrencies and especially stablecoins exist it's crazy to use such outdated systems like Paxum. It's not safe, they can block your assets any day without any reason. And there are many other risks with such systems. For example all their credit cards can be blocked one day and it's possible that this time they will not find any replacement. People will start withdrawing money like crazy using all available methods and it will lead to the end of this system. I already remember at least 5 such payment systems which are dead and I think each one of them will have the same story at the end. But why to do use it when stablecoins exist?
The advantages of stablecoins:
1) They solve the same problems, but in some cases they solve them even better. If you use trc-20 USDT (not erc-20) then a commission can be zero. So you can even get $1 and it can be free for affiliate program to send it depending of how they do that.
2) If you use your own wallet then you don't have to care that somebody will block your account, nobody will do that. There are so many stablecoins today and even if one of them will start doing something like that (usdt can block assets on address in theory, but they don't do that) you can easily switch to other one. There are even decentralized stablecoins exist where there is no even physical possibility to block your funds or address.
3) While your funds are on crypto wallet you can stake them with some defi systems and earn interest for this. It can be even 20% APR or more. In other words you provide liquidity and earn money for this. Paxum and other such systems pay you nothing for holding your money.
4) Every day there is more and more acceptance of cryptocurrencies in the world. In some cases you don't even need to withdraw your money, you can pay for programming services, for design services and so on directly with cryptocurrencies.
5) If you want to withdraw your money there are many methods available, you are not limited with only unionpay credit card which can stop working any day and which is not accepted by many ATM, you choose where to send money to withdraw them and you send them only when you want to do that so there is much less risk.
Why it happened that after all this I still continued to work with Paxum? I used it because there are still lots of affiliate programs exist which pay only with Paxum. In some cases they are also outdated and dying and there is no even chance to ask them to implement a payment method. But there are some of them which are still doing well and it's only a question of a time when they add usdt and other stablecoins as a payment option.
So what I suggest to do - if you work with Paxum - think twice - your assets are under crazy risk. You can loose everything any day. Probably your account is already blocked while you're reading this. And you don't have to do anything - receiving money from affiliate programs can already cause this. If you agree with me that usdt and other stablecoins is better and safer payment option - you can ask your affiliate programs to implement it. You will help an entire industry to feel better. Getting rid of such old monsters is good for everybody.
The ONLY reason why I used this dying and outdated system is because it was the only option to receive small sums from different affiliate programs wich low commissions. Even if you earned 20 dollars a month you could receive them and accumulate on such system and then just use a credit card to withdraw your honestly eaned money. It's funny but I remember a time when I was a bigger affiliate and asked affiliate programs to add Paxum as a payment option.
But today when cryptocurrencies and especially stablecoins exist it's crazy to use such outdated systems like Paxum. It's not safe, they can block your assets any day without any reason. And there are many other risks with such systems. For example all their credit cards can be blocked one day and it's possible that this time they will not find any replacement. People will start withdrawing money like crazy using all available methods and it will lead to the end of this system. I already remember at least 5 such payment systems which are dead and I think each one of them will have the same story at the end. But why to do use it when stablecoins exist?
The advantages of stablecoins:
1) They solve the same problems, but in some cases they solve them even better. If you use trc-20 USDT (not erc-20) then a commission can be zero. So you can even get $1 and it can be free for affiliate program to send it depending of how they do that.
2) If you use your own wallet then you don't have to care that somebody will block your account, nobody will do that. There are so many stablecoins today and even if one of them will start doing something like that (usdt can block assets on address in theory, but they don't do that) you can easily switch to other one. There are even decentralized stablecoins exist where there is no even physical possibility to block your funds or address.
3) While your funds are on crypto wallet you can stake them with some defi systems and earn interest for this. It can be even 20% APR or more. In other words you provide liquidity and earn money for this. Paxum and other such systems pay you nothing for holding your money.
4) Every day there is more and more acceptance of cryptocurrencies in the world. In some cases you don't even need to withdraw your money, you can pay for programming services, for design services and so on directly with cryptocurrencies.
5) If you want to withdraw your money there are many methods available, you are not limited with only unionpay credit card which can stop working any day and which is not accepted by many ATM, you choose where to send money to withdraw them and you send them only when you want to do that so there is much less risk.
Why it happened that after all this I still continued to work with Paxum? I used it because there are still lots of affiliate programs exist which pay only with Paxum. In some cases they are also outdated and dying and there is no even chance to ask them to implement a payment method. But there are some of them which are still doing well and it's only a question of a time when they add usdt and other stablecoins as a payment option.
So what I suggest to do - if you work with Paxum - think twice - your assets are under crazy risk. You can loose everything any day. Probably your account is already blocked while you're reading this. And you don't have to do anything - receiving money from affiliate programs can already cause this. If you agree with me that usdt and other stablecoins is better and safer payment option - you can ask your affiliate programs to implement it. You will help an entire industry to feel better. Getting rid of such old monsters is good for everybody.
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