PAXFUL.COM

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Overall Rating
PAXFUL.COM ★★★★☆ 3.5
5 1
Type Exchanger
Since2015
LocationOld Capitol Trail, Wilmington
WebsitePaxful.com
Social Links
FeaturesPaxful uses BitGo’s multi-sig algorithm to make sure that users’ wallets are safe
DerivativesNo
Margin TradingNo
Deposit FeesNo
Trading FeesThere is a great deal of unusual payment methods here and commissions vary accordingly
Withdrawal FeesNo
Tradeable Coins Bitcoin (BTC)

Advantages

  • A lot of payment methods and fiat currencies available for trading
  • Low fees
  • It is simple to create an account and to process deals

Disadvantages

  • Controversial customer feedback. There is a lot of scam accusations against Paxful on BitcoinTalks and other forums
  • Customer support is hard to reach and their reaction is slow
  • If you are looking for some coins except BTC, then Paxful is not a suitable option for you
  • Sellers usually charge high commissions for buying coins with unusual payment methods

Paxful: Can You Trust This Platform? A Complete Review

Paxful is a platform that aims to provide safe and convenient cryptocurrency trading environment. It functions as a peer-to-peer resource that is similar to the way Ebay facilitates trading. Thus, here you can buy something more interesting than everyday goods. Bitcoins!

Paxful is situated in USA and was created in 2015. The idea of this marketplace was to allow sellers and buyers freely communicate after locating trade offers. In a word, Paxful is an intermediary between traders and a space where people can interact.

How it works?

Paxful has a simple website and offers a wide range of trading and payment options for users. Among these options you will find credit-debit cards, MoneyGram, PayPal, and Skrill. Also, users are welcome to make purchases with the help of gift cards such as iTunes or Amazon.

Using Paxful is so simple that won’t make you any problems. All you need is just open their website, choose the amount of coins you would like to get, and mention your local currency. Create your personal account and you will have an opportunity to search for available sellers. Search categories include payment methods and the amount of currency.

Users may choose the most profitable orders, view available sellers, accepted payment methods, order amounts, and prices. Don’t forget to check seller’s feedback before locating your order to make sure that he is reliable enough.

When you have found a good option for you, just click the “Buy” button. Choose the amount of coins you want to buy and make a purchase. From this, you can benefit from an escrow service and a chat option to contact your seller face to face and discuss the deal in detail.

Once the deal is done and payment is made, click “Mark as paid” and wait for a while until seller sends coins to your personal wallet. After you receive your money, use them the way you want. Yes, everything is that simple.

Pros

  • An extremely wide range of payment methods are available at Paxful.
  • 2-factor authentication protects wallets and guarantees your security.
  • Sellers have reputation ratings based on their activity, trading history and customer feedback all available to view.
  • An escrow service keeps funds until both parties confirm that a transaction is done. This protects sellers and buyers from cheaters and makes the transactions smooth.
  • Customer support at Paxful is fast and responds via a range of options, including email, phone, messaging system and social media.

Cons

  • Considering the fact that Paxful acts as a peer-to-peer platform, there are risks that someone will try to cheat you. Be careful and never communicate with sellers via email, SMS or any other ways. Paxful’s website protects you only when you contact other users through the messaging box.
  • Be sure to check the price and commission before you confirm the deal. Prices may vary dramatically depending on the payment method you choose.

Conclusion

Paxful is a simple and popular way to trade bitcoins and remains a profitable option for the members of cryptocurrency community. This may be a good option for new and experienced buyers, since it makes the process fast and simple. Thus, the platform acts as a mediator between sellers and buyers, so you need to be attentive and verify sellers before making a deal.


Client Reviews

★★★☆☆
3 5 1

★★★★☆
4 5 1
I have already made a number of deals at paxful, everything was okay. You just have to cooperate with users who have a lot of past deals, good feedback, verification, etc. and chances for positive experience will grow.

★★★☆☆
3 5 1
Sorry for my great English but I want share the experience on paxful I opened a trade with seler who have good reputation and he asked for my phone number to give me code. I give number and get 3 sms with code and I give seller these code but he say it wrong!!!! I check again and everything is correct no mistakes. Then he says that will send another code but I say him go to hell. Then paxful closed my account due to security issues : ) : )

★★★★☆
4 5 1
Paxful can be a good choice, but it depends on how you use it. This is a service where buyers and sellers meet to make their deals, so the website itself offers nothing but trading space. They use escrow to protect users from scams but remember that your security mostly depends on you. So make a deep research before you start: read about payment methods and learn everything about a person you are going to make a deal with. You MUST know what you are doing. Also, make sure that a seller or buyer you are trading with is online at the moment you offer a deal, because orders are cancelled automatically after a short period. The biggest minus of the service is high fees, but if you need to buy btc very fast and the price is a peripheral matter than it may work for you. They have Paypal, which is pretty nice, but I use American Express. In a word, such services as Paxful are okay, but your success and security depends on you so make sure that you are aware of all details before you start. Good luck

★★★★☆
4 5 1
I have used Paxful and it seems to be a nice service, however mind that the payments sometimes might be charged back. This is not very convenient, but there is no getting around it – I believe that this is a common problem for most large exchanges and Paxful is no exception

★★★☆☆
3 5 1

★★★★☆
4 5 1
I used paxful for a couple of months and this is what I summarized. PROS No need for identification for most trading offers Convenient interface A lot of payment methods Security (very low risk of getting cheated) CONS High rates A risk of chargeback when selling In general, this service is worth your attention, if you are not afraid of high fees and want to get BTC.

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