PaxFul Review

 

PAXFUL REVIEW AT A GLANCE

■ TYPE: PEER-TO-PEER MARKETPLACE

■ WALLET: YES

■ HEADQUARTERS: USA, DELAWARE

■ ONLINE SINCE: 2015 (Paxful, Inc.)

■ CUSTOMER SERVICE: EMAIL | PHONE {+1 (865) 272-9385}

■ LANGUAGES: ENGLISH

 

INTRODUCTION TO THE PAXFUL EXCHANGE

PaxFul is a Peer-2-Peer Bitcoin exchange similar to LocalBitcoins. Paxful operates as a decentralized marketplace trading only Bitcoin via a network of more than 1,200 vendors. The marketplace operates as a mediator between Bitcoin traders and vendors and provides the framework for its users to interact and to exchange Bitcoins for FIAT currencies. Paxful offers a wider selection of payment methods in the market (300+ methods) plus an easy-to-use platform, and escrow service for the maximum security of Bitcoin transactions. 

■ SUPPORTED COUNTRIES: Almost all countries

■ FIAT CURRENCIES: All Major currencies

 

► Visit the PaxFul Bitcoin Exchange

 

PAXFUL FUND METHODS AND FEES

Paxful supports 300+ payment methods:

□ BITCOIN/ALTCOINS

□ BANK WIRE

□ CREDIT/DEBIT CARDS

□ WESTERN UNION

□ PAYPAL

□ SKRILL

□ GIFT CARDS

□ PAYONEER

□ Many more methods

 

 PAXFUL TRADING FEES

Paxful takes no fee from Bitcoin buyers, however, it takes 1.0% on the selling side.

□ 1.0% on the selling side

□ 0.0% on the buying side

□ Only the sender pays bitcoin network miner fees

Limits and Minimum Trades

□ There are no buying/selling limits

□ 10 USD minimum to buying Bitcoins

□ 0.001 BTC minimum when selling Bitcoins

 

PAXFUL CRYPTO ASSET INDEX

Paxful is trading only Bitcoin.

□ BITCOIN (BTC)

 

 PAXFUL PLATFORM AND TECHNOLOGY

The platform is very similar to LocalBitcoins. You can easily open trades even if you use Paxful for the first time.

-2Fa security

-Create an offer button

-Reputation Ratings (including feedbacks and trading history)

-Easy Bitcoin API server

-Paxful for Merchants (Note that merchants pay 0% on all sales, and Paxful take a cut only from vendors)

Paxful Escrow Service

When buying/selling Bitcoins on Paxful, all money is held in escrow until both parties confirm the transaction.

-Sellers can't cancel the trade, only buyers can cancel it

Tips for Peer-2-Peer Bitcoin Traders

These are some tips when using a peer-2-peer platform, such is Paxful:

(1) First, complete the registration process (confirming phone and email)

(2) Select only a Verified Vendor with a good reputation (the reputation derives from positive/negative (+/-) feedbacks)

(3) Any account must be at least 12 months old, with a reputation rating of at least 97% (deriving from at least 200 feedbacks)

(4) Read carefully the Vendor's terms before sending an order

(5) Check carefully the Bitcoin price you pay by comparing it to another Vendor and to an alternative Bitcoin marketplace

(6) If you use a Gift Card, only trade for the whole amount of the Gift Card

(7) Click the "I have read the instructions and Paid" button only when you have actually paid, this stops the countdown timer and the order from expiring

(8) If you are experiencing any inconvenient issues, use the forum or contact customer support

► Visit PaxFul Bitcoin Exchange

 

 POSITIVES OF PAXFUL REVIEW

(√) Over 300 payment options, plus all major currencies accepted

(√) No ID verification is required for paying via Bank Wire or Online Transfers

(√) Forum and a customer phone number

(√) Escrow-service (sellers can't cancel the trade, only buyers can)

(√) Reputation Ratings (including feedbacks and trading history)

(√) There are no buying/selling limits

 

NEGATIVES OF PAXFUL REVIEW

(x) Peer-2-Peer marketplaces need caution to avoid potential scams

(x) The exchange rate is higher than what you’ll pay in a popular centralized Bitcoin exchange

(x) Vendors incorporate the risk that a buyer may try a chargeback (i.e via MasterCard/Visa), this risk is incorporated as a price premium across the Paxful Bitcoin quotation (as in any other P2P Bitcoin marketplace)

 

 PAXFUL REVIEW CONCLUSIONS

Based in the US since 2015, Paxful is a Peer-2-Peer marketplace very similar to LocalBitcoins. The marketplace offers a very wide selection of payment methods and accepted currencies and that makes it easy for everyone to buy Bitcoins. The process of completing a transaction is very simple. Nevertheless, a P2P network incorporates risks and users must be very careful to avoid potential scammers.

Explaining the Process of Buying Bitcoins with Paxful

You choose the number of Bitcoins, the currency, and a payment method, and then you are presented with all available vendors. All vendors are presented with reputation ratings and feedbacks. After selecting carefully a seller, buyers click “trade” and redirect to a chat page where they can interact live with the seller. When the trade is agreed upon, the vendor's Bitcoins are transferred to the dedicated Paxful’s escrow service. After the Bitcoins are credited in the buyer's wallet (inside Paxful) the vendor gets his money, and the transaction is complete.

Overall, Paxful is a reliable and secure P2P marketplace offering the easiest way to buy Bitcoins via a massive selection of payment methods.

 

■ PaxFul Review

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