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. The platform is safeguarded with multiple layers of security, comprising two-factor authentication & email verification. Customers can rate each other to make sure all traders are honest & reliable. Additionally, Paxful provides an escrow service to protect buyers’ payments until they receive their purchased cryptocurrency.
The seemingly interesting thing about Paxful is that there are no commissions for the buyer. However, it’s a bit naïve to say that there are no transaction fees because most sellers portray these fees within their exchange rate. It should be taken into account that for uncommon payment methods the conversion rate is usually much lower than the market price. In other words, this means that the buyer pays a commission to the seller. It allows buyers and sellers to trade cryptocurrency with a range of payment methods.
The Trustpilot Experience
- Seller fees seem outrageously high compared to many other platforms, too.
- However, most people trade on the web application with the best quality of customer support.
- Paxful offers a better fee structure, has more payment options, and offers a higher limit of buying for non-verified customers ($1500 vs $1000 on LBC).
- KYC is the most basic, garden-variety security measure any crypto trading platform should have.
- For example, the non-refundable payment option (bank transfer, cash) has the lowest fees.
The commonest ones amongst the traders are the MoneyGram and the Western Union. The customer service that Paxful provided is one of the best and fastest when compared to their competitors’. During our review, we were impressed by the quality of customer support in the system. If you have any need to contact Paxful, you can reach them via live chat and email support.
This flexibility is a key factor in Paxful’s popularity, as it allows for greater inclusivity in the cryptocurrency market. Generally, the exchange rate fees on Paxful are competitive with other exchanges. However, they differ based on the payment method selected. Some payment methods may be pricier than others, so it’s essential to weigh up the cost before picking. Also, Paxful offers a Buyer Protection program in case of disputes between buyers and sellers. Paxful is an online marketplace for people to buy and sell Bitcoin.
They urge users to read the community guidelines before buying or selling Bitcoin – for a safe transaction. It has become more popular lately because it’s thought to be a safe trading platform. This guide will discuss the legitimacy of Paxful services, fees, and more. We’ll also offer some tips to help you get the most out of your time on the website. The app stands apart among P2P cryptocurrency exchanges for having among the best online reputation systems and is a superb beginning point for newbies to the space. In addition, its search and type functions allow Paxful customers to situate offers swiftly.
Is eToro Broker Safe?
Join the Paxful Support Telegram channel to ask questions and get answers from Paxful or other platform users. To create a Paxful account, just go to their website and click Create Account located on the upper right side of the screen. When you successfully create a Paxful account, you’ll automatically get a Free Bitcoin wallet. Please I will like to know how to use my Apple pay to buy bitcoins from paxful.. Paxful operates in more than 100 countries and has served over 10 million people.
Deposit Fees and Deposit Times
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. Click it, and you’ll be redirected to the verification page. After that, you’ll be sent to the Paxful login page again. Paxful is not officially licensed in any of the countries where it’s currently available. Since its launch in 2015, Paxful has expanded to over 140 countries, which puts it on par with most popular exchanges like Binance, Kraken, and Bybit.
A dedicated Paxful wallet for users
- While Paxful offers many advantages, it also presents inherent risks.
- When I complained about this, they stayed silent after banning my account.
- You think they are trading as your broker using signals from geo political events etc.
- Read ahead to find if this renowned crypto platform is real and secure for people.
This safeguards your money and helps make sure the crypto goes to the right party in case of disputes. Be wary of websites that provide a limited number of customer support options. Live chat, email, and phone support are all available from Paxful. KuCoin’s P2P crypto list includes BTC, ETH, USDT, USDC, and KCS (KuCoin’s native token).
Key Features of Paxful
The platform offers three coins, but most traders deal in Bitcoin. Once you create your account, you can also sell crypto. After you’ve advertised your coins for sale, interested users can contact you. How long a transaction takes to complete depends on the trader, the payment method used, and other factors, such as the time taken for the transaction to be confirmed. Paxful is one of the top platforms where P2P crypto trading is done.
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. Another drawback is that Paxful can be quite pricey for sellers. In contrast with buying crypto, which is completely free, selling entails an escrow fee from 1% to 5%, depending on the payment method. Paxful Pay is a payment platform with over six million users.
Paxful has transparent policies to protect your funds. The verification process takes 3-7 working days, which enables them with enhanced limits. Nevertheless, it is possible to use Paxful securely, if paxful bitcoin review you take time to research before trading. In the end, whether or not you use it depends on your individual needs and preferences. However, several scammers may try to get in contact with you outside the platform.
Risks And Challenges
Well, if you have been in crypto for a while, you will know that many exchanges have a huge number of blocked countries and a very limited number of payment options. You have no emotional of personal connection to Paxful when trading. Paxful traders have to make their own decisions based on their own research and knowledge. It is your responiblity to educate yourself to market trends and risk management strategies when using Paxful to trade. Paxful as a broker will not be able to assist Paxful traders in navigating the complex terrain of the financial markets.
You then think you can see them transferring a lot of bit coin to your Wallet. Then they send a fake email from Blockchain for a ‘fully refundable’ £13k security deposit. Connect your Paxful wallet and use one of the 350+ payment methods to purchase cryptocurrencies.
It is also crucial to pay attention to the exchange rates because the fee can be very high. In fact, sellers set the exchange rates at rates higher than the centralized exchanges such as Binance and KuCoin. However, it has higher fees than other crypto-exchanges. Plus, there is the risk of fraud when dealing with public offers.