Paxful Review Bitcoin

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Dig deeper and see what negative feedback there is, and when it occurred, and try to see if it’s valid. In some cases high positive feedback accounts will have some strange negative feedback, which really shouldn’t be counted. 2-Factor Authentication – The Paxful wallet requires a complex password, but that isn’t always enough to guarantee security. To make the wallets even more secure you will be required to enable 2-factor authentication on your wallet.

paxful review

If you like, you can simply deposit via credit or debit card, PayPal, Skrill, or any of the other usual services. You can also deposit cash, using a service like Western Union, upload the receipt, and pay that way too. On the flip-side, you should be aware that this is not a flexible cryptocurrency exchange.

How Do You Buy Bitcoins On Paxful?

Enter the code on the website in order to verify your account. In terms of wallets, a million new Paxful Bitcoin wallet accounts were opened in 2019 which means that Paxful now has a total of three million Bitcoin wallet accounts. Not bad for a platform that did just $5.9 million worth of trades its first year in business. Paxful had a great 2019 when it completed more than $1.6 billion in peer to peer Bitcoin trades. At first glance that might not sound like a lot, given that an exchange like Binance clears that much volume every couple of days. However, for a peer-to-peer exchange, $1.6 billion is a lot of traffic and it represents steady growth since Paxful’s founding in 2015.

This is really what sets Paxful apart from the competition, the number of payment methods that they support. Even though Coinbase’s trading fees are high they’re a very reliable and secure exchange with a fairly decent selection of cryptocurrencies. If you want to acquire any other currency, XRP, Ethereum, Cardano, etc. You’ll need to first buy the Bitcoin on Paxful and then send it to another cryptocurrency exchange to trade it for a different asset. The first thing to know here is that Bitcoin buyers on Paxful do not pay any fees at all.

These web-based platforms enable buyers and sellers to buy and sell in several types of orders. The web interface automatically searches for the best offers for their trades based on their preferences. In today’s world, there are a number of scam products such as automated trading robots which are out there to steal funds from people. However, we do believe that Alvexo is a better option as it has greater advantages than Paxful.

Cryptocurrencies Supported On Paxful

Paxful offers lots of financial opportunities that allow you to create a steady stream of income by joining its rewarding programs. You can check out more about Paxful by visiting their page. So, do you think Paxful has got you covered for your trading needs? The platform is trusted by over 6 million people from around the world who employ the marketplace to the fullest extent.

Paxful currently supports Google Authenticator, Authy and SMS based Two-Factor Authentication. As always, make sure to use a secure password such as one generated with a secure password generator tool. Increases trading volume limits, provides access to additional trading methods such as Bank Transfer.

Additionally, the platform’s wallets are provided by BitGo, the most popular and secure bitcoin wallet service in the industry. In that case, Paxful’s moderators will make a careful decision based on the available details. The Bitcoins will then be given to the seller or buyer accordingly. Mostly, the transactions go smoothly because of this platform’s strict moderation. You can get in touch with Paxful’s support teams through its contact form.

The good thing about Paxful is that they accept clients from almost all the countries of the world. However, as of October 2020, Paxful chose to comply with the Office of Foreign Assets Control sanctions. Paxful exempted foreign countries that are engaged in activities that are posing threats to foreign policy, national security, or the economy of the United States. You are just a click away from getting your fees and account statement in PDF form. On the Paxful platform, you can easily check to see your portfolio at any point in time. In this platform, a list is provided for you to help you check all your portfolios, either the past or the present.

The leading peer-to-peer Bitcoin marketplace is now in India. Paxful is the best option if you want to convert your Indian Rupee (INR) to BTC. … With stringent verification measures, and a transparent process, Paxful is one of the safest trading environments in the world. So, what are you waiting for?

You’ll also have the ability to choose another seller to make your purchase from. If you’re on the fence about Paxful, it’s definitely worth checking out, especially if you don’t have the means to go all in on multiple exchanges and other complex wallets. The process is pretty straightforward, but there are always problems that can crop up, and customer support is there to help you when something goes wrong. Your first step should always be to get in touch with the seller and ask for an echange on the paxful platform. If they try to get you to trade outside Paxful, block them immediately. You should never trade outside the platform for any reason as you’re giving away all the protections that have been put in place on Paxful to keep you from getting ripped off.

Where it also supports all the currencies from these countries. After finding a buyer and agreeing on the terms of the sale, the number of bitcoins to be sold is automatically moved to Paxful’s escrow account. The only issue I could see anyone having with Paxful is its peer-to-peer nature. If you prefer to deal directly with an exchange in your transactions, then fair enough.

The CEO and founder’s vision was to develop a crypto community accessible to every trader willing to buy and sell Bitcoin and other digital currencies. Choose the price you are willing to buy Bitcoin with a debit card at. The seller can establish their own criteria, such as a selfie with your photo ID. Your payment will go to escrow providing protection until the seller releases the Bitcoins to you. Select the amount of Bitcoins you want to purchase, the currency for the exchange and payment method. An alternative to scrolling down the 300 payment methods is to type in your preferred payment method.

Paxful Bitcoin Wallet

Because Bitcoin is a digital currency, all transfers are delivered into your Paxful e-wallet. Quickly buy and sell Bitcoin with this peer-to-peer marketplace. As you go through the queue, you’ll see whether a vendor is new. And if they’re not new, you’ll see the average time it takes them to complete a transaction under Average Trade Speed. People love just how smooth it is to transact on the platform.

Based on the users’ location, they can deposit or withdraw BTC only after completing the Level 1 identity verification process. The Paxful wallet is directly linked to its exchange platform so that traders can smoothly and quickly buy or sell Bitcoin from this free Bitcoin wallet. Paxful is the world’s largest Peer-to-Peer Marketplace with over 2 million users and is a simple way to exchange money for bitcoin. There are over 300+ payment methods to choose from and customers have the ability to buy and sell bitcoin through a multitude of channels. Paxful is an innovative online marketplace where you can ‘buy bitcoins instantly’ in a ‘secure and easy’ process.

One additional recommended step to take once your account is created is to sign in and setup 2-factor authentication on your account. This will help secure it against hackers and bad actors who may try to compromise your account, and is simply a good practice for any account these days. In the rare case of a dispute, Paxful’s moderators will investigate the trade to verify if you sent the payment or not. If you have proof you’ve sent the payment, the moderators will release the coins to you.

Fee For Converting Cryptocurrency On Paxful

And according to the company website, this is made possible by the number of services availed by the online trader. These include an escrow account, free wallet, a free client account, and detailed feedback service that helps you build a portfolio and online reputation. Paxful does not take any fees directly from the buyer when they are purchasing Bitcoin. However, the buyer will be charged a fee at the discretion of the seller; this percentage can vary greatly depending upon the payment method being used. These fees can be quite high, especially for niche payment methods like gift cards.

In case the trade is not completed, Paxful charges no fee. Once again, you will need to verify your email and phone number to start selling. Also, make sure that you have enough crypto in your wallet before you create an offer. Paxful offers a simple interface where users can directly trade Bitcoins and other cryptocurrencies without the need for any mediator. Given that LocalBitcoins recently extended their KYC requirements, Paxful is more important than ever.

In comparison, on exchanges like LocalBitcoins or Coinmama you will have to appeal to the payment processor for a remedy (e.g., Visa, PayPal). Keep in mind that different payment methods will result in different exchange rates. For example, non refundable payment methods will usually have lower exchange rates while payment methods that allow for chargebacks (i.e. credit cards, PayPal) will cost more. Being a peer-to-peer exchange network, it is only for buyers and sellers.

Paxful Reviews

Paxful continuously checks and verifies its clients’ IDs to make sure they are authentic. Hence, it is challenging to be scammed on the platform. Moreover, the funds are held securely in Escrow unless the seller releases the crypto. However, to avoid being scammed, always trade on the platform, even if the seller requests to trade outside. One of the best ways of withdrawing funds from a Paxful account is through Bitcoin withdrawal.

Why is my Paxful frozen?

Among the most common reasons for a frozen account is having a trade dispute to be resolved. A dispute is any misunderstanding or disagreement between two parties within a trade. On Paxful, disputes are useful when a trade does not go as planned. When a dispute is started, a moderator will step in to settle it.

By picking the right coin at the right time – click the button to learn more. The Paxful forum is full of scam accusations against other users. Someone also posted a thread on Bitcointalk, warning aboutthe modus operandi of those scammers. Use qWQbe6BZnkA referral code to get a discount on the fees. Please don’t send the money if you can’t afford to lose it.

She enters the amount of bitcoin she wants to buy and initiates the trade. In this post, I did a complete review of Paxful and compared it with its top rivals. After going through all other reviews online, I am proud to say that this is the most complete Paxful review. Quick Updates on latest trends in financial services, fintech, digital strategy and more with our industry leading Fintech Channel.

The platform exercises this right only if they find a violation of the terms of service or the trader is in a blocked jurisdiction at the Paxful login. Requires enhanced due diligence and offers over $50,000 per trade and an unlimited lifetime limit. First, the users need to create a Paxful account by filling a form with a valid email ID, username, and password. With the Paxful affiliate program, you can earn commission on two tiers of referrals.

Cryptocurrencies Supported

We will never sell or distribute your data to any third parties. Because it’s widely available, Paxful has all fiat currencies available on its network. Right from USD to INR , you can exchange any currency for Bitcoins. Click on the button below and fill the online form with your email address, name, and choose a secure password. If you’re selling crypto on Paxful, you need to watch out for scams. You must only do business with people who have a high rating.

How do I withdraw money from Paxful?

After a number of successful trades, you may decide to withdraw your Bitcoin from Paxful wallet. This can be done as a send-out transaction to an external wallet. You can send Bitcoin from your Wallet page. Check our guide for more information about the process.

For newer users, Paxful’s useful tour guide feature can be used to easily get to grips with the platform. Get the latest news and best offers from the crypto community by joining our newsletter. No, while Paxful is headquartered in the United States, it is not registered or regulated by any of the country’s financial regulatory agencies.

If you’re buying Bitcoins on Paxful, you won’t have to pay any fee to the site itself. Different sellers, however, may charge fees or a premium, depending on your payment method as stated before. Additionally, there are normal Bitcoin network fees which are paid by the sender, in order to transfer money through the network.

However, if you are selling bitcoin, the minimum amount per transaction is 0.001 BTC. On the dashboard, various prices will be offered to you. However, before you contact a buyer or a seller, ensure that such a person has been verified. It is also important to be on the lookout because the exchange rates could change before completing your transaction.

Support

They facilitate thieves who use BTC to lure gift card sellers. The platform looks legit, but I got suspicious when I paxful review found a BTC buyer, who bought BTC 80% over the market value. He had no negative reviews and 100 something positive.

While you’re at it take a look at the number of people who trust the seller. This should be far greater than the number that have blocked the seller. Look Hedge also to see if the seller has both verified email and phone numbers. Finally, you want to see a large number of transactions, preferably more than 1,000.

Paxful doesn’t have a mobile app and hasn’t stated any plans to build one. ALL CoinCentral Daily All CoinCentral articles, guides, news, press releases and reviews. The views expressed on this blog are based on personal opinion and experience, and should not be considered as professional financial investment advice. For our live charts & news, we’re using the awesome APIs from CryptoCompareandCryptopanic.

Before signing up, you need to be aware that this is not a wide-ranging cryptocurrency trading platform. You can use Paxful to buy and sell Bitcoin, and that’s literally all. If you’re looking to buy, then searching for a vendor could hardly be easier.

You can now buy Ethereum coins on our platform at a lower price than other exchanges using over 350 payment options. Start buying and selling Ethereum today right from your Paxful Wallet. When you are purchasing crypto on Paxful, the rate will be set by the sellers themselves. These rates will vary based on numerous factors such as your payment method, currency type, and order size. In that type of environment Paxful has done very well as it’s a peer to peer exchange where crypto trade happens between users instead of through a centralized platform. Although you must create a Paxful account in order to trade, the service is still able to fly under the regulatory radar in many places.

Your money will be deposited in the Paxful escrow system, and released once the trade is completed. You’ll often have the chance to live chat with the seller during this time too, to ensure you’re both on the same page. Security is another of the main issues faced in peer-to-peer services, so it’s next in our Paxful review. Buyers are 100% protected, and every single seller is verified.

paxful review

They have the option of 2FA (two-factor authentication), available for users. They also give regular warnings to users from time to time. They ask users to be careful while dealing with fiat currency in cash, for Bitcoins outside the network. This prompts them to raise the fees of overall trade in order to bear the cut! Since only sellers are charged, so it is natural that the price of Bitcoin will always be higher than other exchanges.

Paxful User Reviews

Pay attention to the sellers reputation and put that above the exchange rate you are offered. Put simply, the more happy customers a seller has, the more thumbs up they have. Paxful offers better fee structure, has more payment options and offers a higher limit of buying for the non-verified customers ($1500 vs $1000 on LBC). This system allows users to rate their experience with each other during a trade. The feature is only available to Europeans, Australians, Canadians, and Americans. Also, the requirements have had slight changes since the platform launch.

May be requested forsignificantly high volume institutional/corporate accounts. There are no fees for buying on the Paxful marketplace. Before making any purchase decision with an exchange always ensure to investigate the reputation of management, venture capital investors and regulatory approvals. Make sure to learn about each company’s values and core mission and to perform proper due diligence on review sites, message boards and with investment professionals. Daniel is a blockchain journalist who has written extensively in the crypto space.

There are several features embedded on the Paxful platform. That is, buyers can be rated by sellers and vice versa. The higher their reputation, the more power they have in the market. This was put in place to help prevent fraud on your bitcoin transaction. As mentioned, Paxful is a crypto exchange, which was established in 2015 to act as a marketplace for bringing together Bitcoin buyers and sellers. As a peer2peer platform, it implies that Paxful does not operate as a merchant for Bitcoin or a centralized exchange.

It is not only inspiring to see the co-founders of the company willing to sacrifice so much for the betterment and success of the company, it is motivates me to do the same. I appreciate the inclusion of so many diverse backgrounds, cultures, languages, and people welcomed at this company. It is the culture that continues to drive Paxful into the right direction.

Minutes or longer, depending on payment method and seller’s response. It doesn’t have as much hassle as you’d get in other payment methods like Skrill and PayPal. In other words, Paxful provides a place where Bitcoin buyers and sellers meet and transact.

This is a person-to-person trading site where people from different countries can exchange their bitcoins conveniently. The Paxful wallet is safe and has been used by over 3 million people and 40,000 BTC. BitGo is considered to be one of the market leaders in the security of their wallet.

Paxful is a leading peer-to-peer powered bitcoin marketplace and a universal money translator. With a background in professional poker, George became interested in cryptocurrency after looking for potentially lucrative investment opportunities. He now spends a lot of time navigating through the wealth of misinformation on altcoins in order to decide which will be the next addition to his portfolio.

It also requires cookie consent to process your personal data. The cryptocurrency trading platform is suitable for seasoned traders and newcomers while delivering a nice user experience. This becomes a 5% fee for iTunes and Google Play gift cards; and 2% for every other type of gift card. Although Paxful is primarily known for its cryptocurrency trading platform, it also offers a simple web-based Bitcoin and Tether wallet. Like most other peer-to-peer marketplaces, Paxful maintains a publicly visible user profile. Key features making up the trader profile include min/max trade, the rate per bitcoin and trading costs, and the current rate.

Search the available Bitcoin sellers and ensure to indicate the currency of choice and preferred method of payment. The search results show the open orders that you can simply click to select a specific seller. When you complete creating your account, Paxful will also create a free Bitcoin wallet for you to help simplify the purchase process. Requires address verification and offers $50,000 per trade limit along with an unlimited lifetime limit. Once the account is created, Paxful will ask users to create a free wallet to simplify the purchasing process.

This comes primarily through their requirement that all sellers are fully verified, but also from the escrow system they have in place. Well, unfortunately there’s not a straightforward answer to that question. The good news is that Paxful doesn’t directly charge any fees whatsoever to buyers.

paxful review

Tier 1 – Referrals who sign up on Paxful by following your link. Tier 2 – These second level referrals have followed your Tier 1 referral’s link. You will receive 10 percent of the escrow fee charged. Email support – Use the following contact methods to reach customer service.

However, one of the things to be aware of is that, because Paxful is a marketplace, the Bitcoin seller’s integrity should not be confused with the integrity of Paxful. In general this company seems to have no owners and is ran by a staff that have no clue what they are doing. Paxful added a “reviews” section to their site as a strategy to improve their image.

But have you ever thought about what this platform really has to offer? If you’ve been in the crypto space for a while now, you’ve probably heard about Paxful—one of the leading peer-to-peer platforms worldwide. To ensure you have the most up to date information, you should verify relevant information with the product or service provider and understand the information they provide. If you are unsure, you should get independent advice before you apply for any product or commit to any plan. To create a Paxful account, just go to their website and click Create Account located on the upper right side of the screen. When you successfully create a Paxful account, you’ll automatically get a Free Bitcoin wallet.

Words like “good”, “great”, “awesome”, “honest” were redundant. I googled Paxful, and even on Trustpilot they have a good rating. Paxful also offers “Pay with Paxful”, a payment processing feature which can be added to websites.

Some users struggle with issues like verification and choosing the right person to transact with. If that’s you, don’t worry, this guide will make it easy for you. Reviews of Paxful are positive and the site has served more than 55,000 satisfied customers since 2015.

Bitcoin is literally the only crypto you can buy here; no Litecoin, no Ethereum, just good old-fashioned BTC. If you want to trade a wide range of cryptos against each other or against fiats, then look elsewhere. I’m happy to say in this Paxful review that there are a ridiculous 300+ ways to pay for Bitcoin on their website, ranging from the usual suspects to some less commonplace options. As I’ve mentioned above, many of these also give complete anonymity to the people involved. Anonymity was supposed to be one of the main attractions of Bitcoin, and all cryptocurrencies for that matter.

Is The Paxful Wallet Safe?

What started out as a modest Bitcoin trading service has become a major force in the development of a universal currency. Founders Ray Youssef and Artur Schaback saw an opportunity to deliver both a commercial service and social good through Bitcoin trading. Almost one-third of the world is still unbanked, but three-quarters have a mobile phones.

Many exchanges have done away with this by requiring ID verification, but not Paxful. Now that cryptocurrencies have essentially become mainstream, a large industry is quickly building up around trading them. Some sites allow you trade every crypto under the sun, against either other cryptos or other fiats.

The amount that will get to the seller is 105% of the fraction of bitcoin you decide to buy. As a Buyer, the lesser you pay above market price, the better the deal is for you. A good cryptocurrency exchange seeks to guarantee users of optimal safety for their info and resources while simplifying the process of buying new coins. Paxful scores high on all the factors because it puts users in control of the process. Different sellers, however, may charge fees or a premium, depending on your payment method as I’ve stated before.

  • Paxful wallet is user-friendly as it supports multi-sig wallets.
  • If you have doubts as to what the best service for storing your cryptos is, you can compare the best Bitcoin wallets.
  • When you sign up and pass a verification procedure, you receive a verified account.

Once the seller confirms receipt of funds from Paxful’s escrow service, they release Bitcoins to the buyer directly. Sellers can accept over 300 different payment methods, not to mention a capacity to accept over 85% of international buyers. Users are free to register anonymously on Paxful and maintain their anonymity through to the end of the deal. No verification documents are required and you do not need to submit any kind of ID if the payment methods you choose do not require one! However, if you are buying Bitcoins using your debit cards, you might have to verify the bank account first and submit a valid ID too.

We will be taking a look at the two trading scenarios in a bit. The Paxful Web Platform has several features to make your trading experience a memorable one. The platform is very friendly, and traders can easily get in touch with customer services without complications.

I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. Paxful does not set the only exchange rate common for everyone. Every seller can choose the amount they want to sell their BTC for,and the amount can vary on a day-to-day basis.

Since Paxful is a peer-to-peer service, you should make sure that the user you are trading with is reputable and verified with positive feedback. Funds are protected by Escrow and any disputes between trading parties are resolved by Paxful’s team of moderators. Paxful was started in 2015 by Ray Youssef and Artur Schaback out of Europe. The company is based in Tallinn, Estonia, and has offices out of New York City, Manila and Kong Kong. This makes complete sense when you hear about the ways that Paxful can turn traditional assets into bitcoin and crypto. As a result, it is a good choice for both new and more experienced traders.

The Escrow service does everything in its power to keep scammers away from the wallets. However, buyers should always trade within the platform. If any seller wants to trade outside, the buyer should not take the risk, and any damage or theft will not be a part of Paxful’s responsibility. Yes, based on Paxful reviews, buying Bitcoin on the Paxful platform is safe and secure. The platform is known for keeping funds safe, abiding by anti-money laundering and KYC standards.

How To Buy Bitcoin In Paxful

Paxful uses simple login authentication measures that include a username and password and a two-factor authentication method. The entire interface of the Paxful web platform is highly sophisticated and user-friendly. It has a lot of unique features and customizations that help users, especially newbies, to get the best trading experience. During our review, we saw that the web platform is well optimized to give the perfect user experience. You can create an account with your email and password.

You will nonetheless have to verify the email and address first. Sellers are, however, required to pay a transaction fee for using Paxful systems that are currently fixed at 1% of the value of coins traded. If you like the look of a seller, click the “Buy” button, and you’ll be taken to a screen which confirms how much Bitcoin you want to buy. This screen will also show the seller’s terms—they’ll say exactly how they want to do the deal and give you instructions on completing it. If they want ID verification, you’ll need to send it to them directly, before the deal can go through. As I mentioned earlier, Paxful has an excellent search engine.

Paxful supports 2FA and as soon as you create your account you should enable it. In terms of a presence on social media, Paxful has accounts on Facebook, Instagram, Twitter and YouTube. As one would expect from such an internationally focused exchange Paxful supports quite a few different currencies. For example, USD, GBP, CAD, AUD and EUR to name just a few.

While Binance is famous for listing hundreds of cryptocurrencies, they are sorely lacking when it comes to payment methods. Binance has an option for their users to buy crypto with a credit or debit card but that’s about it. Perhaps, in practice, there are not offers for all the possible combinations because the site works in a P2P fashion. As an example, a quick search for offers in Korean Won or Fijian Dollar yielded no results. The buyer deposits cash through Paxful’s payment methods such as prepaid VISA, Gift Card Code, or Western Union to the seller’s account.

Buyers do not need to pay any fee for buying cryptocurrencies irrespective of the payment method chosen. However, the sellers are charged a price ranging between 0.5% and 5% of the total order for every sale. Other payment methods for selling cryptos have a flat fee of 1%. Paxful fees is a lucrative asset for users, as it does not charge anything from buyers. They charge 1% from sellers, which prompts them to include the fees in the price itself.

In actuality the list of supported currencies is much, much bigger. There are the standard requirements like a valid email address and secure password. The actual process of buying Bitcoin on Paxful is very straightforward.

One is that the seller simply wants to make a profit, and that’s understandable. Sellers also take a greater risk with some payment methods versus others. When purchasing Bitcoins on Paxful you’ll have your choice of hundreds of vendors selling Bitcoin, and accepting over 300 different payment methods. If you’re logged in the site and click the “Buy” button on any listing you’ll be taken to the escrow service, and a chat window to communicate directly with the seller. This will allow you to discuss the trade in more detail if that’s necessary.

This means the account is aged and has plenty of positive customer feedback. I’ll talk about the fees, how to bitcoin anonymously, and precautions you should take when trading. Paxful acts as an escrow, which ensures the safety for you and the seller. Confirm the process of sending the funds to the wallet. The desktop app is the main version of the Paxful platform, which is available for all users with desktopcomputers.

When you place a buy order the sellers Bitcoins are placed in the Paxful escrow service until you’ve made your own payment and clicked the “Mark as Paid” button. Paxful will also hold your payment in escrow and if everything is fine on both sides Paxful releases the payment to the seller and the Bitcoin to you. Note that you have just two hours to complete your payment. If you haven’t completed payment by that time the Bitcoin is returned from the escrow account to the seller.

Paxful is the perfect solution for those looking to use an online payment service. You do have to be prepared to pay a bit more for your Bitcoin to take advantage of this benefit. You won’t find many ways to buy and sell Bitcoin that are as easy to use as Paxful. Pretty much anyone with a computer or mobile device connected to the internet can make a purchase or sale through Paxful. And there’s no limit to the amount you can buy or sell.

Is Paxful legit for buying Bitcoin?

Yes, Paxful is legit! The funds on the platform are safely and securely protected from fraudulent transactions and scammers. The Escrow service does everything in its power to keep scammers away from the wallets. However, buyers should always trade within the platform.

But a user should remember that the service is also a bit different. Today you can only sell Bitcoins digital currency on the platform. The rest of the equally popular cryptocurrencies can only be used to pay for bitcoins bought on the platform.

This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. Sellers, however, pay a fee equal to 0.1% of the transaction amount. Don’t keep holding (in this industry, it’s called HODLing) money on this or any other platform long-term if you don’t know what you’re doing. Before doing any of these, it helps to learn how Bitcoin, cryptocurrency, and other currency markets work. If you’re not a professional Bitcoin trader and a client or customer pays you in Bitcoin, sell immediately.

Paxful ensures constant customer support via a live chat available for all its traders. However, the serviceprovides limited customer support because there is no call centre attached to the platform. If you want to convert your cryptocurrency and withdraw money, you need to pay a 0.5% fee. There is also a Paxful transfer fee, which varies depending on the currency sent or received.

Verification level two allows for a lifetime trade limit of up to $10,000. At this level a user must submit a copy of their driver’s license or passport in order to verify their identity. As a peer to peer exchange, Paxful’s primary goal is to make it as easy as possible to buy Bitcoin.

Paxful Review: Complete Exchange Overview

It’s easy to get started too as all you need to create a trade account is an email address and a cell phone number. This platform does offer an escrow service for every Bitcoin transaction. After a buyer finds a seller and the seller accepts the offer, the Bitcoin gets moved to escrow from the vendor’s wallet. After this, the seller won’t be able to cancel the trade. However, the buyer has just a little time to send the money to the seller.

It also doesn’t offer any additional features outside of the regular P2P exchange options—such as Coinbase’s Earn platform. Nonetheless, it serves its purpose well and is an ideal exchange for those simply looking to trade their cryptos with local vendors. Currency Risk It also offers a variety of account-side security features, which are used to protect your account from unauthorized access. As a cloud-based wallet option, the Paxful Bitcoin wallet can be accessed from anywhere, using any device with a web browser.

Paxful Vs Alvexo

But most importantly, this profile also points out the seller’s reputation. This is the trust score awarded by their past clients and pays a key role in helping the buyer determine whether to trust the seller or not. Paxful, when compared to all other trading forex trading platforms, stands out for the fact that it does not charge anything for withdrawals if you are a buyer. This allows you to cut down on what it would cost you to buy Bitcoins. Additionally, Paxful protects your identity with the ability to trade anonymously.

If you want to to buy Ethereum with PayPal, Ripple or alt coins, you will not currently find them for sale on Paxful. If you want to buy and sell Bitcoin on a secure exchange with 300 payment methods, visit Paxful. Among the payment methods are popular cryptocurrencies, including Ethereum , Ripple , Litecoin , Bitcoin Cash , DASH , and more.

Service fees are 1.00% per trade, but it is only paid by the seller. Users should remember that all trading carries risks and users should only invest in regulated firms. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

In the escrow, the bitcoin is not accessible to Jay or Damilola. Paxful is a P2P market place that supports over 300 payment methods. In other words, it supports any payment method that you can think of. Paxful is considered the ‘Uber of Bitcoin’ due to the ease it brings to the purchase and sales of BTC. It is similar to Remitano but supports a lot more payment methods than its close Rivals .

And if you’re buying BTC with gift cards, the merchant won’t ask for ID. However, if you’re using bank transfer then some merchants will require ID. Yes, it is legit, as the company runs its activity in accordance withinternational standards of the crypto exchange market. The platform ensures users’ safety by providing a great KYCverification system. To protect your online wallet, Paxful uses two-factor authentication.

Although this exchange provides some level of safety using the escrow. Users have to stay safe while trading by avoiding fraud due to human error. During a trade, the crypto funds are being held in escrow and released once the transaction is confirmed. Please I will like to know how to use my Apple pay to buy bitcoins from paxful..

Using Paxful is easy, that’s why the platform is popular. The minimum deposit limit is 0.005 BTC, while there is no maximum limit imposed on deposits. In addition, somelimits depend on the verification level. Watch the video with explanations and choose Continue verification.

Paxful Quick Facts

You may do that by simply making an offer on Paxful’s exchange to sell your Gift Card and wait for a Bitcoin seller to accept your offer for the price. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service and consult the relevant Regulators’ websites before making any decision.

There’s also a phone number and email address, as well as community forums. It’s very difficult to completely judge the security of a website like Paxful, simply because of the P2P nature of their service. When it comes to the trading fees, however, things get a little more complicated. Selling Bitcoin and creating offers are equally easy to do with Paxful’s help.

Paxful has grown greatly in the few years it has been in existence and it remains a very valuable option for those looking to purchase Bitcoin easily or anonymously. In some cases it allows individuals who might otherwise be unable to purchase Bitcoin to get involved with cryptocurrencies. This makes it very useful, whether you’re new to Bitcoin or an experienced Bitcoin hodler. Let the seller know exactly what your needs are and be sure that they understand fully.

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