Similar to LocalBitcoins, Paxful allows a wide range of payment methods and buying options that can’t be found on traditional exchanges. Fees typically range from 0.5% -5% when you use debit cards, 1% fee for e-wallets, and 3-5% for gift cards. There is also a 1% transaction fee charged when users transfer crypto from one Paxful account to another crypto wallet. Unlike some service providers, Paxful does not offer commissions for sales made.
Some people like peer-to-peer crypto trading more than buying through one of the big centralized exchanges. We should note, however, that peer-to-peer trading platforms also tend to attract more scammers. The Scam Detector algorithm aggregated factors that looked at the company’s website in particular, in this case paxful.com. When we analyze websites, we try to find details that reveal key information about the professionalism of a business – e.g., poor customer service, how they sell, etc.
There are measures in place to ensure your wallets are protected from hackers. The one downside, however, is that any trade over $50 will require the trader to complete a KYC verification before it can be completed. In terms of a presence on social media, Paxful has accounts on Facebook, Instagram, Twitter and YouTube.
Once you have fed in all the details, it is time to verify your identity. A verification link will be sent to the email address you provided, and you can verify that you are the one who is opening the account. paxful bitcoin review Users are also asked to set up two-factor authentication and provide ID verification to enhance security. This is especially important for frequent users or anyone looking to transact more than $1500.
LocalBitcoins is a crypto marketplace that was launched in 2012 and is one of Paxful’s biggest competitors. The site boasts of being in the industry longer, so many people find it trustworthy. The services offered are almost similar, except for the fact that LocalBitcoins has a wider portfolio of cryptocurrencies in comparison to the three offered by Paxful. Paxful had a great 2019 when it completed more than $1.6 billion in peer to peer Bitcoin trades.
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. While most exchanges have two or three payment options, Paxful has dozens.
You may also want to store crypto bought on Paxful in your own wallet so you have full control of it. Paxful is generally a safe place to buy, sell, and store cryptocurrency. The escrow system protects buyers and sellers, although you do need to watch out for scams.
Paxful complies with the Office of Foreign Asset Control (OFAC), which means it doesn’t operate in or accept users from banned countries. We receive compensation from the products and services mentioned in this story, but the opinions are the author’s own. Learn more about how we make money and our editorial policies.
Fake products are often a lot cheaper than the real thing. However, they also have several disadvantages like helping organized crime and possibly endangering your own health. Websites offering fakes also often do not deliver as they know you are less likely to report them to the police. We recommend you check our blog post “How to recognize counterfeit products” in order to be sure. How can I not have bond on my account and be in buy dispute and of which my last successful trade was 2 days before it was banned.
In addition to a referral program, Coinbase also offers a way to earn crypto rewards and earn through staking. As with any other method of investing money, how much you can earn with Paxful depends on various factors. The type of cryptocurrency token you choose to purchase can make a difference, as well as market movements and types of transactions you choose. In some cases, you could lose money if you are scammed, or if the token you buy loses value. Bank deposits, Western Union and Moneygram can take some time, as you must leave your home to their branch to deposit cash. When you send cryptocurrency from Paxful to either another Paxful wallet or an external crypto wallet, there is a transfer fee.
You can get the deal only this week HERE or by clicking the button below. Guardio has over a million users and while it is affordable for the benefits it provides (just a few dollars a month), it covers up to 5 family members. Other dominant factors in the paxful.com review include, but are not limited to, Tranco rank, SSL certificate, and IP address. Our VLDTR algorithm gave the 52.00 rank according to the work of 53 factors that are relevant to paxful.com’s industry. We have aggregated essential elements from the quality of service in its Trading niche to public feedback from clients and DA (Domain Authority).
Uncover Bybit’s pros and cons, trading options, security measures, and other features of this crypto exchange. Paxful is a peer-to-peer trading platform that allows people across the world to buy and sell Bitcoin and other cryptocurrencies. Paxful has a chat box feature that users can use to access the customer support desk for any requests. The reply is almost instant, and if not, a representative will send a follow-up email and attend to you. On the other hand, the platform has a rather detailed FAQ section that covers most, if not all, of the questions most users have. Users can access customer service when they have issues or inquiries they need to be attended to.
He is an Egyptian immigrant who grew up in New York City. Read on to discover more about Paxful’s legitimacy, regulations and security measures. You might also worry about security and safety with a Paxful account.
