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.
Once the vendor has reached a total of 50 trades with 20 different trading partners and has a success score of over 33%, then he/she can apply to become a verified vendor. The facility is available for vendors located in Europe, Australia, Canada, and America. Paxful doesn’t support anonymous trading and exchange of bitcoins; Users need to go through different verification processes for getting enhanced buying limits.
With a free eToro wallet and social features like messaging boards, users can copy experienced traders and access numerous assets. Take a look at what makes this platform perfect for starting your trading journey. A great variety of payment methods, low fees, and fast transactions.
Most Paxful reviews have rated this platform as user-friendly. If you’re looking to buy and sell something other than the above-mentioned coins, you have a lot more options on the table. Bybit’s spot trading platform supports a whopping 1,600+ cryptocurrencies. You can also try your hand at futures trading with USDT or USDC-margined perpetual contracts. Unlike most exchanges, Bybit includes standard futures contracts with an expiration date. I had a 2FA security setup for both logging in and authorizing transactions but still somehow I got scammed through phishing.
Plus, 24/7 customer support is available for any inquiries. Paxful also provides customer service before, during and after each transaction. To protect buyers and sellers, Paxful imposes limits on first time traders based on the payment method used. This helps avoid fraudulent activity that can occur with online transactions. You can buy and sell Bitcoin using 250+ different methods like PayPal, bank transfers, gift cards, Apple Pay, Cash App and more. Plus, Paxful’s escrow service ensures both parties get their money if they follow their agreement.
Paxful platform is full of scammers and your right is easily lost
- It has strict verification and password requirements for your security and peace of mind.
- After a long long wait it’s finally here and I must say, I am impressed with the good work.
- May be requested for significantly high volume institutional/corporate accounts.
- Confirm details with the provider you’re interested in before making a decision.
- This app was my favorite until card buyers ripped me off and I lost about $750.
The decentralized aspect of Paxful helps users trade crypto without significant fees. If you use altcoins or fiat currencies, you must look for another platform. If you want a peer-to-peer crypto exchange, Paxful is perfect for you. You can buy or sell Bitcoin (BTC), Ethereum (ETH) or Tether (USDT) on the peer-to-peer platform. If you need to contact a service provider for verification, use the customer service number or email found on their official website, not the contact details provided in a suspicious message.
Fee for sending and receiving Tether (USDT)
The site also cautions users against disclosing personal and contact details in the trade chat. Such precautions help prevent possible scams and impersonation (which might happen off-site). Paxful is committed to maintaining a secure trading environment, heightened by various security measures such as a dedicated escrow system and accurate user verification processes. Paxful offers a variety of options for buying Bitcoin, making it a favored platform among those who want to buy and sell Bitcoin. This commitment to providing a positive user experience is why many gravitate towards using Paxful for their Bitcoin transactions. Paxful delivers a smooth crypto trading experience within a supportive community, ensuring Paxful users have a pleasant and straightforward experience on the platform.
Paxful review
Regularly review the privacy settings of your online accounts. Limit the amount of personal information you share publicly, as scammers can use this information to make their scams more convincing. The scam exploits the trust users have in Venmo and the urgency created by the fake payment claim, making it more likely for users to respond hastily. Paxful was founded by entrepreneurs with the goal of democratizing access to financial services through Bitcoin. The company has established a global presence, with a particular focus on emerging markets.
Customer support
The platform offers three coins, but most traders deal in Bitcoin. The Paxful Bitcoin wallet is a secure tool for storing, buying, selling and sending Bitcoin. After you’ve advertised your coins for sale, interested users can contact you.
Ray Youssef and Artur Schaback founded the exchange and еnvisionеd a crypto community accessible to tradеrs worldwide. Data protection laws make sure personal information is secure from unauthorized access or misuse. So, players can be sure they get a fair game every time they play at Chumba Casino. That said, as I’ve already mentioned, you’re pretty much stuck in place without completing KYC. You’ll see a reminder on your dashboard or in the settings under the “Security” tab.
Make sure you keep all communication on Paxful and under no circumstances move the discussion off platform. The reason why is that if there is a dispute, the Paxful moderators will help you out. If you move things over to Telegram or Whatsapp, then you will miss out on this protection. Paxful simply offers the widest range of methods to buy Bitcoin out there.
Escrow protects buyers from sellers who refuse to release coins after sending payment. As an additional measure, buyers can upload proof paxful bitcoin review of payment for Paxful moderators to have them release bitcoin to their wallet. You may like Paxful’s low fees, variety of payment options, and safety measures, but it’s also important to check if it’s okay to use Paxful where you live.
The exchange is supported by more than 12,000 vendors and provides round-the-clock service for Paxful users. 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%. A buyer or seller can open a dispute and provide supporting documents to the moderators if the seller does not release the bitcoins on time or if the buyer is coin locking without making a payment. When compared to exchanges that only allow you to buy directly from them, Paxful has an escrow system that secures the buying and selling process for traders.
Perhaps, in practice, there are no 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. Be wary of websites that provide a limited number of customer support options. Live chat, email, and phone support are all available from Paxful.
- In addition, third-parties monitor activities on the platform to ensure it meets regulatory standards.
- The aforementioned selection also happens to include over 100 fiat currencies, which is where another benefit comes into the picture.
- Withdrawing to another Paxful Wallet (AKA, internal withdrawals) has no network fee but still costs 1%.
The Paxful affiliate program is a great way to earn bitcoin by referring other users to trade on the marketplace. Affiliates earn 50% of Tier 1 escrow fees and 10% of Tier 2 escrow fees. Paxful Desktop based trading platforms offer a more secure experience than their Paxful mobile app counterparts. Paxful trading applications must follow some fundamental guidelines, when giving traders access to live high risk financial markets.