Paxful takes its security very seriously, and to this date hasn’t had a known hack, unlike many exchanges and crypto market places. They’ve implemented a very strict verification process, and hired an enormous team of fraud prevention analysts. Furthermore, the platform has an escrow service where they’ll hold the crypto for a set period of time until the transaction’s been approved by both parties. You should know that Paxful is a marketplace and that the seller creates his own price.
Users have bought more than 950,000 Bitcoin since its existence that roughly translates to 8 billion euros. Being a peer to peer marketplace, Paxful offers a simple process to buy Bitcoin safely in no time. A user can simply select the preferred payment method and type the desired number of Bitcoins he/she wants to buy. Founded in 2015 with offices in multiple cities around the world and over 200 employees, Paxful aims to be the “eBay” of the Bitcoin community. Paxful enables individuals to become merchants and sell bitcoin online, similar to how eBay allows people to sell merchandise. Paxful also offers a great alternative for buyers, since sometimes traditional exchanges just don’t cut it.
FinanceBuzz has partnered with CardRatings for our coverage of credit card products. FinanceBuzz and CardRatings may receive a commission from card issuers. It’s important to note that cryptocurrencies represent a new alternative asset. The future is uncertain and there’s no way to tell whether crypto will become fully mainstream. Crypto is more volatile than many other asset classes, with wide swings in prices.
Buying Bitcoin on Paxful is easier than you think. When you create an account on the website you will get a free Bitcoin wallet instantly. As Paxful is based in USA, US-investors should be able to trade here.
Notably, Paxful is very popular in Africa where traditional exchanges have been slow to emerge. First things first, crypto purchases on Paxful are entirely free. Buyers do not need to pay any fee for buying cryptocurrencies irrespective of the payment method chosen. However, the sellers are charged a price ranging between 0.5% and 5% of the total order for every sale. Other payment methods for selling cryptos have a flat fee of 1%.
One of the best features offered by Paxful is instant live chat. When you open a trade on the platform you will be able to chat with the vendor who is selling you the coins using the live chat. They offer more than 58 cryptos, supply built-in wallets and have a great support team.
Questions? Get answers from the Paxful staff and other customers.
FinanceBuzz is not a financial institution and does not provide credit cards or any other financial products. FinanceBuzz.com does not make any credit decisions. Paxful offers opportunities, such as the affiliate program, to earn more crypto. If you get more people to participate, you could earn more money over time.
Get a life-time free Bitcoin wallet maintained by BitGo, the leading provider of secure Bitcoin wallets. With the Paxful wallet app, you can buy and sell bitcoin and Ethereum while being in control of your money the entire time. It offers users a wide variety of choices in payment methods, the most preferred option being bank transfers. Also, all payments are held in secure escrows until both parties have received their end of the deal.
I would not recommend this company to anyone, you will most likely be scammed. Completing the CAPTCHA proves to us that you’re a human and gives you access to our platform.
- It is also crucial to pay attention to the exchange rates because the fee can be very high.
- We should note, however, that peer-to-peer trading platforms also tend to attract more scammers.
- BitGo is a leader in digital asset custody that’s used by over 150 crypto exchanges.
- However, buyers should always trade within the platform.
Level 2 has a $10,000 limit for trading and sending money from the wallet for a lifetime. Level 3 and 4 have no limit for lifetime trading volume and sending and receiving coins from the wallet. However, level three has a limit of 10 grands for a single trade. And if you know what you’re doing, it’s a wonderful place to trade or speculate. Like many other users out there, this is my favorite Bitcoin marketplace. You can ask clients to be paying you in Bitcoin via your Paxful wallet.
A Premier Global Digital Asset Trading Platform Bitmart has signed a Joint venture partnership with Paxful. This partnership will allow both platforms to quickly scale and increase their liquidity. The advantage for the users of both platforms is that they will be able to make payments on the Bitmart platform using a strong payment method of Paxful. Both these companies are heading fast to achieve greater success in the revolutionary peer to peer financial services. Safety, security, and ease of purchasing the world’s first decentralized digital cryptocurrency called Bitcoin are the main objectives of establishing this marketplace. If you are a new cryptocurrency buyer, then this place can be right for you.
The site is open to buying with any digital currencies. The supposedly cool thing aboutPaxfulis that there are no fees for the buyer. However, it’s a bit naive to say that there are no transaction fees because most sellers just portray these fees inside their exchange rate. It should be taken into account that for uncommon payment methods the conversion rate is usually far lower than the market price. In other words, this means that the buyer pays a commission to the seller.
It is also important to be on the lookout because the exchange rates could change before completing your transaction. Therefore, compare the exchange rate and ensure to only work with the seller charging a lower fee. Paxful has a couple of peculiarities when it comes to fees. First, Bitcoin buyers on Paxful do not pay any fees at all. And then Paxful charges the seller 1% of the amount of the transaction.
Who can open an account with Paxful?
They can opt for being notified of a broad range of activities related to their account via email. However, only alerts about critical movements are sent via SMS. In this case, you can always use networks of Bitcoin sellers from around the world that allow almost anyone to buy Bitcoins. This network can be best described as “the eBay of purchasing Bitcoin”. We may also have tips and more information to help you compare providers. We are not a financial advisor and the content on this website is not financial advice.
You don’t need to have any technical knowledge about the cryptocurrencies to buy from Paxful. Safety and security are the most important concerns for the investors, so the platform offers what the users want. Moreover, selling gift cards for bitcoin is awesome.
Service fees are 1.00% per trade, but it is only paid by the seller. It cost you $0 fees to buy because the burden is on the seller. The website is like the “eBay of cryptocurrency”. The platform connects you to other people, who are looking to buy or sell cryptocurrency.
Primarily developed as a cryptocurrency trading platform, Paxful also functions as a web-based Tether and Bitcoin wallet. Being a cloud-based wallet, Paxful can be used anywhere globally, using any device with an internet browser. Based on the users’ location, they can deposit or withdraw BTC only after completing the Level 1 identity verification process. There are tons of trading exchanges available on the internet. The beauty of Paxful is that when you buy on this website you don’t have to pay anything in transaction fees to the platform. The seller pays between the 0.5% and 5% of the total value of the trade to the website and can decide the Bitcoin price for himself.
But a user should remember that the service is also a bit different. Paxful won’t ask you for ID if you have a tier 1 account. And if you’re buying BTC with gift cards, the merchant won’t ask https://forex-reviews.org/ for ID. However, if you’re using bank transfer then some merchants will require ID. Some claim that Paxful scammed them because they received a huge payment and were unable to transact.
Please do some good research about the current market price. Being a p2p marketplace, Paxful allows its users to buy and sell Bitcoin easily and safely to other users. You can buy and sell your coins in 4 simple steps.
Sell your Bitcoin at your chosen rate, and get paid in one of numerous payment methods. Your Bitcoin is held in our secure escrow until the trade is completed successfully. Our user feedback system enables you to identify trusted and experienced peers to trade with.
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The platform exercises this right only if they find a violation of the terms of service or the trader is in a blocked jurisdiction at the Paxful login. Once the account is created, Paxful will ask users to create a free wallet to simplify the purchasing process. Established paxful review in 2015, Paxful was initially known as EasyBitz. The Nigeria crypto exchange has over 4.8 million users and more than 200 workers with global offices in the Philippines, Estonia, and Hong Kong. View all the buy or sell offers for the cryptocurrency you want.
Registering on the Paxful exchange is one of the most straightforward processes that take a few minutes and 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 makes it so easy and secure to buy crypto. If you’re selling crypto on Paxful, you need to watch out for scams. When the trade is successful, leave the user a rating and comment. If you’re not a professional Bitcoin trader and a client or customer pays you in Bitcoin, sell immediately. I believe your main interest is in protecting your cash, right? It’s best to do whatever it takes to ensure you’re safe in any marketplace.
I have also informed Apple that giftcard codes were stolen and Apple ID under which were redeemed should be blocked/investigated for fraud. Apple also confirmed that, as expected, codes were indeed redeemed and spent. When I start to dispute and upload all documents in my account suddenly it’s showing temporarily locked and band. It’s very frustrating that they don’t try to weed out fraudsters from their platform.