Paxful Review 2022: Fees, Features, Security, and More!

A month is more than enough time for Paxful to review a case. I mean if I build a website like this, then I select random 5% members to ban and take their money and give a respond “We don’t ban people for no reason.” Once your account has been set up, you will receive an email asking you to confirm your account. Once your account has been confirmed, you need to go to your profile page and verify your mobile number.

• Nowadays, it is difficult to acquire Bitcoin through mining, so more and more people are opting to buy Bitcoin on peer-to-peer cryptocurrency exchanges.
• Then click on “Search for offers.” Next, the screen will get populated with all the offers, payment modes, and ask rate of the vendor.
• You can also sell your Bitcoin earnings on Paxful.
• For more information on the latter, check out our Gemini review page.
• On the dashboard, various prices will be offered to you.

Though when the buyers buy cryptocurrencies from their preferred sellers on the Paxful exchange, they are buying at the rates fixed by the sellers. This crypto exchange rate may vary based on different factors like currency pairs, payment options, and many more. Traders can use more than 300 payment methods for their trades; however, they will vary in each region based on the traders currently active. The platform supports the sale of only two cryptocurrencies, BTC and USDT, that can be sold using any supported payment methods. Traders are subject to buying and selling limits on the platform based on their ID verification levels. Paxful is a leading peer-to-peer crypto exchange as well as a digital wallet.

Features of Paxful

Paxful is not recognized by the Canadian regulator and is not registered with FINTRAC or OSC. Paxful, originally known as EasyBitz, was launched in 2015. It currently boasts over six million registered users worldwide, and its Bitcoin wallet has been used by over 3 million people to trade more than 40,000 bitcoins. However, the Canadian regulator does not recognize Paxful, and it is not registered with OSC or FINTRAC. The website is like the “eBay of cryptocurrency”.

The search results display the open orders for buyers to simply select the preferred seller. The Paxful wallet is safe and has been used by over 3 million people and 40,000 BTC. Paxful uses BitGo as their wallet service provider. 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.

Buying bitcoin on this wallet app is as easy as can be. You’ll know you got a good rate when you compare different vendors. Registering on the Paxful exchange is one of the most straightforward processes that take a few minutes and https://forex-reviews.org/ clicks to complete. To register, go to the official trading website and click on Create Account. Fill in the form with personal information like name, email ID, password, phone number, etc., and click Enter to create an account.

Paxful only takes less than a 1% fee for the total transaction . So, was there any transaction fee involved in the whole process? When you click on the buy option, paxful review the seller mentions the ask-rate for the given transaction. The asking rate differs with every payment mode and is generally highest for the gift cards.

Currencies and Payment Methods

If you know any victim of this theft or you are a victim yourself, kindly text “recoveryaid” via skype. Paxful is not a scam but there are scammers on paxful. Paxful offers crypto, and margins are the key things that make this platform unique.

Paxful looks a decent and useful platform for buying bitcoins at a meager rate using fiat currencies. The platform can be used both by new as well as experienced traders. It has placed many checks and balances to ensure users are not duped and have a high transaction success rate. The buyer deposits cash through Paxful’s payment methods such as prepaid VISA, Gift Card Code, or Western Union to the seller’s account.

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.

Since my account was suspended I was told to wait a year which I did, I messaged them after a year but they keep ignoring my message until I posted here on reddit . The last time I posted here my post was deleted but I had to do this cause this is the only medium in which people can see them for what they truly are. I’ve been diversifying my purchases so I thought I should hold on to some ETH as well . Saw in the news that ETH might go till 40k sometime in far future so that’s why .

You’ve probably asked yourself the question “Is Paxful safe? However, it’s important to note that this service does require a high level of expertise. First, make sure you’re getting a decent exchange rate. Depending on your payment method, the exchange rate can sometimes reach 2x of the “official” price of Bitcoin that can be found on traditional exchanges. Paxful also provides an escrow service for all Bitcoin transactions.

How to Buy Bitcoins on Paxful

The Paxful wallet is fully secured to ensure that your crypto is kept safe and sound. This is a payment solution that facilitates business payments. You can create an account for your business and use Paxful to receive payments from your customers.

I will leave the special referral link below to get this device, and I for one am VERY excited to use it and see how “durable” it really is. The verification process takes 3-7 working days, which enables them with enhanced limits. Blocking is a way to ensure that the bad apples don’t bother you. Trusting users is a way to make real connections with them, but just like in real life, be careful whom you trust on Paxful. The platform makes you agree to a disclaimer that fully indemnifies them in case any form of fraud happens as you transact with another person on the platform. The platform is working on different integration solutions like Paxful pay API, E-commerce plugins and a software development kit.

The final verdict on Paxful

Since Oct 9, 2022 almost a month, I opened a dispute about a scam. I requested a chargeback and it has since remained pending. I wrote a review about this when the case was a week old and Paxful did not even care to read it. Two transactions both scams and the money is locked up in pending.

The Paxful website teaches you how to buy and trade Bitcoin. The site is user-friendly and includes easy-to-read buttons that take you to a page where you can buy, sell, or receive BTC. It is best to compare the exchange rate before you make a purchase. Although the seller may charge a small fee for the transaction it will be much less than a transaction made through a central exchange.