All in all, dеspitе its low crypto support and potential risks, we think it dеsеrvеs sеrious considеration. Enter the code here, and you will be automatically taken to your user dashboard. Follow these steps to create a Paxful account in seconds. Sanding and receiving on Paxful operates on a dynamic network fee and a fixed Paxful wallet fee. Thanks to its intuitive interface, we found this app a practical alternative to the exchange’s web version.
- Previously if you wanted to go from gold to Bitcoin you would have had to sell the gold into cash and then use that cash to buy Bitcoin.
- Paxful crypto users can take advantage of these features with a free account.
- There are also other commodities you can comfortably trade on this platform.
- Paxful is a safe and easy to use peer-to-peer crypto exchange platform that uses Escrow service to protect buyers and sellers from scams.
Paxful brings users the ability to buy Bitcoins with almost any conceivable payment method. The user experience is extremely intuitive and while everything seems pretty neat there are still some things you’ll need to look out for. Other negative reviews are about specific sellers which have scammed buyers and not about the platform itself. Avoiding scam on Paxful is indeed an issue that needs to be taken into account (more on that later in this post). All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns.
You will also need to enter the fiat currency you prefer and the amount you wish to purchase. There are measures in place to ensure your wallets are protected from hackers. On the other hand, there’s a very easy to use chat box for all relevant support requests.
Paxful Review: Is it a Legit Platform to Trade Bitcoin?
There’s no fee to receive cryptocurrency to a Paxful wallet. It’s also prohibited from offering Tether trading to users in Texas. Paxful uses a reputation system where users can leave feedback after trading with one another. You could jump right in and start searching for crypto offers fairly quickly. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.
The whole time you would be paying exchange and commission fees. This new process is easy to use and really a great addition to the crypto ecosystem. It’s not only buying Bitcoin that’s possible with Paxful, selling Bitcoin is also an option. As a seller you’ll have the possibility of paxful bitcoin review getting paid via a bank transfer, Western Union or cash in person in addition to other payment methods. As mentioned, Paxful supports in person cash transactions. However, trading volumes are subject to individual buying and selling caps aligned with their KYC verification levels.
Paxful is a peer-to-peer cryptocurrency exchange offering Bitcoin, Ethereum, and Tether. It allows buyers and sellers to connect by posting and responding to ads. No matter how you want to buy crypto, it’s probably an option on Paxful. The exchange offers over 350 unique payment methods, from traditional options to digital currencies.
Step 2: Verify the Account
Paxful has its own crypto wallets where it stores crypto you purchase by default, but you can also transfer it to your own external wallet. We do our best to keep on top of all the latest developments. Check out our list of the best cryptocurrency apps and exchanges for the most up-to-date information on the platforms we recommend. Paxful is a peer-to-peer cryptocurrency marketplace that enables users to buy and sell cryptocurrencies directly with each other.
Paxful Review Summary
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 I’ve stated before. Paxful also provides an escrow service for all Bitcoin transactions. Once a buyer finds a seller and the offer is accepted by the seller, the Bitcoin are automatically moved from the vendor’s wallet to escrow.
You can purchase or trade cryptocurrencies such as Bitcoin, or post your cryptocurrencies for sale. People like its user-friendly interface and how easy it is to use. Its dynamic fee system is helpful too, as it shows different prices for different payment options. Keep in mind any fees that accompany converting currencies. Previously if you wanted to go from gold to Bitcoin you would have had to sell the gold into cash and then use that cash to buy Bitcoin.
It’s not available in the states of Washington, New York and West Virginia. The 10 million users trade crypto without a centralized force, which means they can buy crypto without their money going through a third-party bank account. In the end, it depends on your individual tastes and needs, if Paxful is right for you. Before trading on the platform, do your own research, analyzing the pros and cons versus other crypto exchanges. It is not regulated, meaning users don’t have the same protections as in regulated markets.
To trade on Paxful, you need to register for an account and provide identity verification. Your trading limits are determined by how much verification you provide. There aren’t many types of cryptocurrency you can trade on Paxful.
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 also provides 2FA security when you log into your account. On your web trading platform, click on the blue chat box at the bottom end of the screen to initiate a live chat with a moderator. For the email support, if you have any issues concerning your Paxful account, please do well to reach them at
Web-based platforms allow traders to place different types of orders. The good thing about the web platform is that the system can search for the best offers for you automatically. You can choose either the SMS authentication method or the Google Authentication method for the best experience. Take your time and review the seller either by a selfie or a photo ID.
Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Well secured and easy to navigate through the application. Paxful is a US based company licensed as a Money Services Business (MSB) under the regulation of the Financial Crimes Enforcement Network (FinCEN). The two exceptions in the United States are the states of Washington and New York as they are excluded from using the services of Paxful. With its headquarters in New York and offices in Estonia, the UK, Dubai, and other countries, Paxful employs over 400 people.
Yes Paxful does work in the UK (United Kingdom), residences of the UK can open a paxful account and start buying bitcoin, find out more HERE. No Paxful itself is not a wallet but your Paxful account comes with a free BitGo wallet that is functional, easy, and safe to use on all platforms. From the wallet, you can easily manage your Paxful funds and top-up in the best way.
Moreover, the platform also offers a lot of other features, and in this Paxful review, we’d try covering as many of those features as we could. It charges buyers 1% and sellers can choose a 1% or 2% fee, based on their exchange amount. All fees are kept as low as possible to maximize accessibility.