Paxful Com Is It A Scam? Review

Once the trade has been finalized, and the payment made, click on the “Mark as Paid” and wait for the transfer of Bitcoin to your Paxful wallet. 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. As mentioned, Paxful supports in person cash transactions.

It is recommended that you do not store your bitcoins in the Paxful Bitcoin Wallet for the long-term and instead move them into a hardware wallet like the Trezor One. When you buy bitcoin it automatically goes into your free Paxful Bitcoin Wallet. A total of 3 confirmations are needed for bitcoin to be officially added to your wallet. Paxful charges a 1% fee on any successful sale; It is automatically deposited into escrow alongside the amount requested by your client.

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 Finance to trade outside. Once the seller is selected, Paxful will allow its buyers to view the sellers’ profiles to make an informed decision. Buyers can either proceed to buy Bitcoin from the chosen seller or select another one.

Regular customers can earn by placing a referral link on their website, account, social page. From the transaction amount of each attracted visitor, the client will receive 2% of the profit. Coincola is more sophisticated than Remitano because it’s a P2P market place as well as a trading platform.

After creating an account, you can search for available Bitcoin sellers. The common search categories include the method of payment and type of currency. Paxful is an online peer to peer over the counter exchange where peers interface with advertisements of other peers offering to trade in Bitcoin using online wallets. Paxful is a marketplace where buyers and sellers exchange Bitcoin.

paxful review

So well, I found this site and want to thank you all in the comments for warning me and confirming my suspicions before I made any trade. On the other hand, there’s a very easy to use chat box for all relevant support requests. Support representatives either answer immediately or reply later via email.

If you have doubts as to what the best service for storing your cryptos is, you can compare the best Bitcoin wallets. Paxful has to be commended for its high reliability record. The Bitcoin marketplace has a high trust rating among its customers and has never been hacked. Here is the step-by-step process to buy Bitcoin on Paxful.

Paxful Sending Or Receiving Fees

On the other hand there is Paxful which has dozens of payment options but the only coin available is Bitcoin. It’s not even possible to exchange coins directly on Paxful or through a Paxful wallet. So a partnership of Binance and Paxful makes perfect sense. By and large they don’t compete with each other but each has a strength that compliments the other’s weakness.

This process may take a little bit longer to receive the coins in your wallet. Before you pay, make sure to review the seller by looking at their profile picture or verifying their ID. If it’s all set up, type in how much money you want to spend, and your transaction will be put into an escrow until the seller hands over their cryptocurrency. Once they do, release the funds in escrows and buy the coins.

Paxful allows people to trade in Bitcoin, by connecting buyers and sellers on their platform. They are not an exchange who store crypto-assets but rather simply provide an exchange platform. All things considered, Paxful is quite a powerful platform. There is no real reason to use it over LocalBitcoins necessarily, although their wide range of accepted payment methods gives Paxful a competitive edge. Users need to take the necessary precautions to ensure they are not scammed by another person.

With a minimum 0.5% fee, while selling through bank transfer, Paxful can be one of the cheapest places to trade cryptocurrencies P2P. It is cheapest to sell cryptocurrencies for a bank transfer with Credit note just a 0.5% fee, whereas sales for gift cards will attract a 3-5% fee depending on the type of gift card. This makes it ideal for those looking to find the best rates available in their region.

Paxful Platform

The most important thing to know about Paxful is that they only support the buying of Bitcoin. Additionally, you can protect your Paxful account with security features like two-factor authentication . 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 paxful review multiple exchanges and other complex wallets. Paxful has a relatively simple and highly interactive user interface. We found placing sales posts as well as finding coins listed for sale quite straightforward. You can transfer your affiliate earnings to your Paxful wallet when your balance reaches the equivalent of 10 USD.

  • Use your unique wallet address or QR code to make quick transfers with millions of traders from around the world.
  • Paypal and gift cards, for example, are almost instant.
  • With Paxful, you can comfortably trade crypto products from anywhere.
  • From the transaction amount of each attracted visitor, the client will receive 2% of the profit.

The exchange seeks to empower the Bitcoin buyer and seller by allowing them to control the purchase process. Paxful supports 300 payment methods, enabling you to easily load and instantly access funds for bitcoin purchases. Generally, prudent investors leave only the funds they need for trading in a hot wallet and store the rest in a cold wallet. A decentralized exchange does not use an intermediary to hold customer funds and accounts.

A Closer Look At Paxful

The platform further supports numerous other unconventional methods that you can use to buy bitcoins. For instance, you can pay for bitcoins using the iTunes gift card, settling the seller’s bills, airline and even hotel booking. While Coinbase can feel limited in terms of payment options available, Paxful offers a far superior selection of payment options. The fees on Paxful are almost non-existent, however, merchants set their own prices, while Coinbase fees range from 1.49% to 3.99%. Coinbase offers a larger selection of cryptocurrencies.

paxful review

However, cryptocurrency sellers will be charged between 0.5% to 5% of order total for each sale. Paxful does offer a secure and free bitcoin wallet right after you create an account on Paxful. If you’re selling bitcoins, Paxful holds those bitcoins till you complete the transaction.

How To Buy Cryptocurrency On Paxful

These include credit/debit card, bank transfer, PayPal, Neteller, Skrill and a huge number of gift cards . Paxful is a peer-to-peer platform for buying, selling, and trading digital currencies. We believe in equal access to finance, Promissory Note enabling users to trade crypto and earn money in a safe, secure environment. Refundable payment methods like PayPal or credit cards, where the buyer can request a chargeback after the trade are more risky for sellers.

Found 96 Of Over 114 Reviews

Paxful is a cryptocurrency exchange that allows its 160,000 monthly users over 300 ways to buy Bitcoin. It can also be used by website owners to accept Bitcoin payments on their websites. Finally, coming to exchange fees, note that USDT to BTC conversions are free while BTC to USDT conversions or transfers are subject to a fee of 0.1% paid in Bitcoin. Note that Paxful has the authority and right to delete a client’s account with a single withdrawal or cancel an entire trade.

It has one of the highest customer satisfaction amongst the top exchanges. Plus it has never been hacked so you know your crypto is secure. 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. However, you can search for your preferred means of payment on the website. After this, you can choose the cryptocurrency and the amount you intend to buy.

The company likes to portray itself as being the PayPal and Uber of Wall Street for the average person. That is a bold statement, but the Wilmington-based company feels they can become such a driving force in the future. Paxful can even be called one of the few exchanges about which participants don’t complain. Negative feedback on the site isn’t available yet, notwithstanding the service has already been operating for the fourth year. The resource clearly fulfills all of its obligations and user information is under reliable protection. The site acts as an intermediary between the participants of transactions, serving as a space where the interests of the two sides intersect .