Paxful Review: Read First unless you want to hassle!

paxful review

If you’re looking for a hassle-free way to buy or sell bitcoins, Paxful is the perfect platform. With over 300 payment methods available, there’s sure to be a method that suits your needs. The user-friendly interface of Paxful makes it easy to navigate the site and find the best deals.

Overall, Paxful is an excellent option for those looking for an easy way to buy or sell bitcoins. Just be sure to do your Paxful research before making any trades.

What is Paxful?

Paxful is a leading peer-to-peer Bitcoin platform with over 1 million users worldwide. Launched in 2015 by Ray Youssef and Artur Schaback, Paxful allows anyone to buy and sell Bitcoin with nearly any payment method, including bank transfers, gift cards, and even cash. With a wide range of payment options for trade and 24/7 customer support, Paxful is a suitable choice for those looking to purchase Bitcoin.

One of the great facility about Paxful is that it’s available in nearly every country worldwide. Whether in the United States, Europe, Asia, or even Africa, you can use Paxful to buy and sell Bitcoin. This makes it a convenient option for those who want to invest in Bitcoin but don’t have easy access to traditional exchanges.

Another benefit of Paxful is that it offers a wide range of payment options. Whether you want to pay with a credit card, bank transfer, gift card, or even cash, Paxful has you covered. This makes it an ideal option for those who may not have access to traditional payment methods like credit cards or bank accounts.

With over 12,000 trusted vendors, Paxful is also known for its service of El Salvador’s adoption of Bitcoin (BTC) and crypto exchange. Above all, the Paxful app is also available for Android and iOS.

However, there are a few things to be aware of before using Paxful. First, the platform doesn’t offer buyer or seller protection, so it’s essential to do your due diligence before the trade. Second, Paxful charges a 1% fee on all transactions, higher than other exchanges.

Read this review first if you’re thinking about using Paxful to buy or sell bitcoin. We’ll cover everything you need to know about Paxful, including its fees, features, and customer service.

What Does Paxful Account Offer?

Paxful is a good option for peer-to-peer crypto exchanges if you are looking for those buyers and sellers who want to use crypto to complete their online transactions. This peer-to-peer exchange service is best for those interested in using the bankless method for bitcoin trading and various financial transactions.

Here are some top features of Paxful:

Top Features

Digital Wallet (free of cost)

The most prominent feature is the free wallet. After signing up for Paxful, you will get a free Bitcoin wallet lifetime limit app maintained and managed by BitGo. Digital Paxful Wallet allows you to connect to crypto wallets from any digital wallet provider. This service makes it easier to exchange your tokens or Bitcoin payments.

Cash Payment method

You can quickly receive cash from your Bitcoin and buy bitcoin tokens via cash. You can choose from payment options at trusted pickup points or complete your cash exchange at your doorstep.

Trade Goods And Services

Paxful allows you to buy goods and services using a Bitcoin wallet. It’s similar to a service that will enable you to find stores or people who accept Bitcoin for transactions and trading.

Paxful Virtual Kiosk

Another unique feature of Paxful is their “Paxful Virtual Kiosk.” This is a P2P marketplace that allows people to buy and sell Bitcoin without an account. All you need is a phone number or email address to start trading.

Easier Trading (CFDs) and Transactions

Paxful is a Bitcoin market square matching and connecting buyers with sellers. Select your favoured payment method and type in how many bitcoins you need. Sellers on Paxful offer a variety of payment methods, including Gift Cards, Online Wallets, Bank Transfers, Debit Cards, Credit Cards, and even Cash!

Once a buyer and seller agree on a trade, they can complete the transaction using our escrow system. This system holds the bitcoins until both parties have completed the business according to their agreed terms. Once the trade is completed, the escrow releases the bitcoins to the buyer.

Escrow Service

Paxful is a popular website that offers an escrow service for Bitcoin transactions. Buyers and sellers can use Paxful to trade Bitcoin with each other. Paxful charges a 1% fee for its escrow account.

When you create an account on Paxful, you will be given a unique Bitcoin address. This is the address that you will use to receive Bitcoin from Paxful. You can also use this address to send Bitcoin to Paxful. It also gives Escrow protection to your transactions.

Affiliate program

Paxful is excited to offer an affiliate program for our users! As a Paxful affiliate, you can earn commissions by referring new users to the Paxful platform.

It’s simple to join, and there’s no risk – all you need is a Paxful account. Once you’re signed up, you’ll be given a unique referral link to share with your friends, family, and followers.

You’ll earn a commission for every new user who signs up with your link and makes a trade. There’s no limit to how many people you can refer or how much you can earn – it all depends on how creative you are in promoting the Paxful website.

Pros (According to detailed Paxful Review)

As one of the most popular peer-to-peer bitcoin market squares, Paxful has a lot to offer its users. Here are some of the top benefits of using Paxful:

Accessibility

Paxful is available in over 190 countries and supports multiple payment methods, making it one of the most accessible bitcoin markets.

Safety and security measures

Paxful takes measures to protect its users, including KYC/AML verification, 2-factor authentication, and a built-in escrow system.

User-friendly platform

The Paxful platform is user-friendly, even for those new to bitcoin. It offers a simple interface and a wide range of features.

Competitive prices

Paxful offers competitive prices for bitcoin, with various payment methods to choose from. It also supports the use of fiat currencies.

Good customer support

Paxful has a dedicated customer support team available 24/7 to help with any issues.

Centralized exchanges

While Paxful is often lauded for its ease of use and accessibility, it’s important to remember that the exchange is centralized. This means that Paxful has control over its users’ funds, and there have been several instances of hacks and security breaches in the past.

If you’re looking to trade Bitcoin on a centralized exchange, then Paxful is definitely worth considering. However, it’s essential to be aware of the risks involved before making any decisions.

Paxful is an excellent option for those looking to buy or sell bitcoin. It offers a safe and secure platform with various features and competitive prices.

Cons (According to detailed Paxful Review)

There are a few potential downsides to using Paxful as your Bitcoin or cryptocurrency exchange. These include:

Counterparty risk

When you buy or sell Bitcoins on Paxful, you deal with another person directly. This means that there’s always the potential for fraud or scams. Be sure to do your research and only deal with people who have a good reputation.

Lack of regulation

Paxful is not a regulated cryptocurrency exchange, which some could see as a downside. However, this also means no fees or restrictions on what you can buy or sell.

Limited payment options

The only method to buy or sell Bitcoins on Paxful is with another currency. You’re out of luck if you don’t have any other currency to trade.

Potential for instability

Due to the lack of regulation, there’s always the potential for prices on Paxful to be more volatile than on other exchanges. This could lead to losses if you’re not careful.

No physical customer support

Paxful does not have any customer support in place, so if you have any problems with a trade, you’re on your own. This can be frustrating, especially if you’re new to Bitcoin or cryptocurrency exchange or trading.

Paxful is still a popular choice despite these potential downsides for many Bitcoin and cryptocurrency traders. If you’re willing to take on the risks, it could be a good option. Just be sure to do your research and only deal with people who have a good reputation.

What are coins and tokens?

Coins and tokens are digital assets that can be bought, sold, or traded on the Paxful website. Coins are typically used for payments, while tokens may have a variety of uses, including loyalty programs, in-game items, or access to certain features or services.

What are the different types of coins and tokens offered on Paxful?

Bitcoin (BTC) is the most popular cryptocurrency on Paxful, followed by Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Tether (USDT). There are also a number of altcoins and Tokens listed on our site, including but not limited to:

  • Ripple (XRP)
  • Dash
  • Monero (XMR)
  • Zcash (ZEC)
  • Dogecoin (DOGE)
  • Augur (REP)
  • Golem (GNT)
  • OmiseGO (OMG)
  • DigixDAO (DGD)
  • Melon (MLN)

Additionally, they offer a variety of stable coins, which are cryptocurrencies that are secured to the value of a fiat currency, such as the US dollar. Stablecoins can be used for payments or trading and may offer benefits such as lower volatility or faster transaction speeds.

Payment Methods

Paxful is a leading digital currency platform that offers users a wide range of payment methods. Below are some of the most popular payment methods available on Paxful:

  • Credit and debit cards
  • Bank transfer
  • eWallets (Paxful Wallet)
  • Cryptocurrencies (crypto exchange)

So, these are different payment methods offered by Paxful. Paxful also provides a wide range of customer support options, making it one of the most user-friendly digital currency platforms available.

What is a Paxful Wallet?

A Paxful wallet is a digital wallet that allows you to store, send, and receive Bitcoin. You can use your Paxful wallet to buy and sell Bitcoin and make payments at merchants that accept Bitcoin. You can also use your Paxful wallet to withdraw cash from ATMs that accept Bitcoin. Paxful wallets are available for both iOS and Android devices.

Opening An Account

If you’re looking to buy or sell bitcoin, Paxful is an excellent option. With Paxful, you can instantly and securely trade bitcoin with anyone, anywhere in the world. In this guide, we’ll show you how to open an account on Paxful.

  • Creating an account on Paxful is quick and easy. Just head to the homepage and click on the “Sign Up” button.
  • Enter your email address, create a strong password, and click on the “Create Account” button.
  • You’ll then be asked to verify your email address. Just head to your inbox and click on the verification link.
  • Once your email is verified, you can start buying and selling bitcoin on Paxful!

FAQs

How much can you earn from Paxful?

There isn’t any actual answer to this query, as earnings will vary depending on several factors, including the user’s country of residence, trading activity, and chosen payment method(s).

However, users can typically expect to earn around 1-2% commission on transactions. So, for example, if you were to buy $100 worth of bitcoin on Paxful, you would earn around $1-2 in commission.

As earnings are directly proportional to trading activity, the more trades you make, the more you can expect to earn. Furthermore, users who offer popular payment methods (such as PayPal or Western Union) can also expect to earn higher commissions, as they will be more in demand by buyers.

So, in short, there is no definite answer as to how much you can earn from Paxful. However, if you are an active trader and offer popular payment methods, you can expect to make a decent commission on your transactions.

How Can You Withdraw Money From Paxful?

You can withdraw money from Paxful in a few different ways. The most popular methods are bank transfer and Bitcoin wallets.

If you have a linked bank account, you can simply click ‘Withdraw’ on the Paxful website and choose your preferred withdrawal method. If you’re withdrawing to your own personal bank account, the funds should appear within 1-2 business days.

If you’re withdrawing to a Bitcoin wallet, the process is a bit different. You’ll need to generate a Paxful wallet address first. Once you have your Paxful wallet address, click ‘Withdraw’ on the Paxful website and choose ‘Bitcoin.’ Enter your Paxful wallet address and the amount you’d like to withdraw, then click ‘Submit.’

The funds should appear in your Paxful wallet within a few minutes. From there, you can transfer them to your personal Bitcoin wallet or use them to make purchases on the Paxful marketplace.

Paxful also offers a few other withdrawal methods, such as through PayPal or Skrill. However, these methods are not as popular and may take longer to process.

No matter which withdrawal method you choose, Paxful makes it easy to get your money out of the platform and into your own hands.

Is Coinbase better than Paxful?

Coinbase and Paxful are both popular digital currency exchanges that allow users to buy and sell cryptocurrencies. Both platforms have their own advantages and disadvantages, so it’s essential to compare them in order to decide which option is the best for you.

Coinbase is a large and well-established exchange that is available in 32 countries. It offers a user-friendly platform and is one of the most popular exchanges. Coinbase also has its own digital wallet, which is a significant advantage. However, it doesn’t offer as many payment methods as Paxful and has high fees.

Paxful is a newer exchange that is available in 190 countries. It offers a wide range of payment methods and has low fees. However, it doesn’t have its own wallet and is not as user-friendly as Coinbase.

So, which exchange is better? It depends on your needs. If you’re looking for a large and well-established exchange with its own wallet, then Coinbase is a good choice. However, if you’re looking for an exchange with low fees and a wide range of payment methods, then Paxful is a better choice.

How to trade crypto on Paxful?

Paxful is an excellent peer-to-peer exchange option for crypto traders looking for a secure platform for crypto exchanges. In this guide, we’ll show you how to trade crypto on Paxful.

To get started, sign up for a free account on Paxful. Once you’ve created your account, you’ll be able to buy and sell Bitcoin and other cryptocurrencies.

To buy Bitcoin, select the “Buy Bitcoin” option from the homepage. Then, choose your favoured payment method and enter the amount of money of Bitcoin you want to buy. Once you’ve found a seller that you’re happy with, click “Buy Bitcoin Now.”

Select the “Sell Bitcoin” option from the homepage to sell Bitcoin. Then, select your payment method and enter the amount of Bitcoin you want to sell. Once you’ve found a buyer that you’re happy with, click “Sell Bitcoin Now.” It also offers Bitcoin purchases with a regulated exchanges facility. If you have any queries, contact Paxful Support service!

So, when are you going to get your Paxful account?