PaxFul Review

 

PaxFul Basic InformationPAXFUL 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 PaxFul INTRODUCTION TO THE PAXFUL EXCHANGE

Paxful is a peer-to-peer Bitcoin exchange similar to LocalBitcoins. It operates as a decentralized marketplace, trading only Bitcoin through a network of more than 1,200 vendors. The platform acts as a mediator between Bitcoin traders and vendors, providing a framework for users to interact and exchange Bitcoins for fiat currencies. Paxful offers one of the widest selections of payment methods in the market (over 300) alongside an easy-to-use platform and an escrow service to ensure maximum security for Bitcoin transactions.

SUPPORTED COUNTRIES: Almost all countries

FIAT CURRENCIES: All Major currencies

 

Visit the PaxFul Bitcoin Exchange

 

PaxFul Fund MethodsPAXFUL 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 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 Asset IndexPAXFUL CRYPTO ASSET INDEX

Paxful is trading only Bitcoin.

□ BITCOIN (BTC)

 

 

PaxFul Platform 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

 

PaxFul Review (Advantages) 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

 

PaxFul Review (Disadvantages)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 PAXFUL REVIEW CONCLUSIONS

Based in the US since 2015, Paxful is a peer-to-peer marketplace very similar to LocalBitcoins. The platform offers a wide selection of payment methods and accepted currencies, making it easy for anyone to buy Bitcoins. The transaction process is straightforward. However, because it is a P2P network, users must exercise caution to avoid potential scammers.

How Buying Bitcoins Works on Paxful

You select the amount of Bitcoins, the currency, and a payment method, then you are shown all available vendors. Each vendor has reputation ratings and feedback for you to review. After carefully choosing a seller, buyers click “trade” and are redirected to a chat page where they can interact live with the seller. Once both parties agree on the trade, the vendor’s Bitcoins are transferred to Paxful’s dedicated escrow service. After the Bitcoins are credited to the buyer’s Paxful wallet, the vendor receives their payment, completing the transaction.

Overall, Paxful is a reliable and secure P2P marketplace that offers one of the easiest ways to buy Bitcoins using a vast selection of payment methods.

 

PaxFul Review

ExpertSignal.com

 

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