Paxful Review 2023: Is It The Right Cryptocurrency Exchange For You?

As a Decentralized exchange, Paxful exchange offers its users access to a wide range of payment methods, including bank transfers, credit and debit cards, PayPal, and other methods.

In this Paxful review 2023, we will take a deep look into the platform and discuss if it is the right exchange for you.

Overview of Paxful Exchange

If you are looking for a reliable and secure cryptocurrency exchange in 2023, Paxful might be the right fit for you. Paxful is a peer-to-peer financial service provider that offers a wide range of services for cryptocurrency investors and traders.

As a decentralized exchange, Paxful offers its users access to a wide range of payment methods, including bank transfers, credit and debit cards, PayPal, and other methods.

In this Paxful review 2023, we will take a deep look into the platform and discuss if it is the right exchange for you and what is Paxful. Paxful is a peer-to-peer marketplace that connects buyers and sellers of bitcoin and other digital assets.

The company provides users with an easy way to find potential bitcoin buyers and sellers across the globe, whether you are looking to buy or sell larger quantities of bitcoin.

With Paxful exchange, you can buy bitcoin directly from other people, enabling you to avoid the hassle of setting up your own bitcoin exchange. You can also trade bitcoins with other users through a peer-to-peer marketplace.

Paxful is a simple and easy-to-use platform. It is a very user-friendly platform, even for those that are new to the world of cryptocurrency.

You can easily get started by creating an account, uploading your ID, and then searching for potential sellers. Once you find someone that has bitcoin listed for sale, you can commit to buying their bitcoin as quickly as possible.

You can also use Paxful’s social media features to find potential buyers and sellers of bitcoin who have similar interests.

Paxful Review 2023: Company History and Background

Founded in 2015 in New York, Paxful has subsequently spread to a number of other locations, including Estonia, the United Kingdom, the Philippines, Dubai, and St. Petersburg.

With a primary focus on providing financial services to the four billion people worldwide who lack access to banking or are underbanked, Paxful exchange is dedicated to empowering these individuals.

Paxful Supported Coins and Countries

The Paxful trading platform enables clients to purchase cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT).

It is accessible in a large majority of countries around the world; however, this year, the platform has made the decision to exclude certain countries from its list of supported nations.

These are countries that are involved in financial activities that could potentially endanger US national security, foreign policy, or the economy.

The countries that are now prohibited from using the Paxful platform are Yemen, Syria, Darfur, Sudan, Somalia, the Republic of Congo, North Korea, Cuba, Libya, Lebanon, Iran, Iraq, Central African Republic Sanctions, and Burundi.

Key Features of Paxful

User-Friendly Interface

Paxful has a simple, intuitive user interface that makes it easy to buy, sell, and store cryptocurrency. The platform provides a range of features and tools to help users manage their portfolios and make informed decisions.

Peer-to-Peer Crypto Trading

Paxful exchange is one of the top choices for P2P (peer-to-peer) crypto trades, which means that the buyer and seller are both directly involved in the process. It supports Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

If you’d like to purchase or sell one of those cryptocurrencies, you can take a look at the offers people have published, or create one of your own.

Each trade is secured because Paxful holds the crypto in an escrow account. Once the vendor confirms that they’ve accepted the payment, the crypto funds are then released to the buyer.

Some people favor P2P crypto trading over buying from large, centralized exchanges. It’s important to remember, however, that P2P trading platforms may be more attractive to scammers.

Paxful Review: Payment Methods

Paxful offers a variety of payment methods including credit cards, bank transfers, PayPal, cash deposits, and more. This makes it easy for users to find the ideal payment option for their needs.

No Fee for Buying Crypto

There is no charge for buying cryptocurrency through this exchange. Sellers pay a fee contingent on the payment method they select, ranging from 0.5% to 1% for most methods or from 3% to 5% for gift card payments.

Does this make investing in crypto on Paxful more economical than other exchanges? Not always. Each seller determines their own price, so there may be times when the prices are lower than those of other major exchanges, and other times when they are higher.

Paxful Review: Security

Paxful takes security seriously and provides top-notch safety measures such as two-factor authentication (2FA), encryption technology, cold storage wallets for storing digital assets offline, and more.

Paxful Review: Sleek Design

The appearance of peer-to-peer crypto exchanges can be a toss-up. A number of them possess plain designs and awkward interfaces.

Fortunately, that is not the condition with Paxful. It is attractive, it runs swiftly, and it is effortless to make use of. You would be able to plunge in and begin looking for crypto offers in a jiffy.

Affiliate Program

Paxful’s affiliate program allows users to earn money by referring new customers to the platform. Affiliates receive a percentage of each successful transaction made by their referrals in the form of Bitcoin or other cryptocurrencies.

Support

Paxful offers customer support around the clock via email or live chat in multiple languages including English, Spanish, French, German, Italian, Russian, and more.

Reputation System

Paxful utilizes a standing system where clients can leave comments after dealing with one another.

Comparable to eBay, you can take a look at the quantity of positive and negative reviews the user has received, observe what type of verification of identity they have finished, and read assessments from other customers.

This may make it easier to discover reliable trade associates and evade fraud.

Paxful Exchange: Pros and Cons

The Paxful exchange is a great place to buy and sell cryptocurrency, but it’s important to understand its pros and cons before getting started. Let’s take a look:

Paxful Pros

• Paxful is incredibly user-friendly, making it easy for users of all experience levels to buy and sell cryptocurrency.
• The platform supports a wide variety of payment methods, making it convenient for users from all over the world.
• Paxful has excellent security measures in place to protect your funds.
• The Paxful wallet and app make it easy to keep track of your trades.

Paxful Cons

• The fees on Paxful can be quite high compared to other exchanges.
• Paxful is not available in all countries, so some traders may be limited.

What is Paxful?

Paxful is a peer-to-peer (P2P) cryptocurrency exchange, which means that it doesn’t require the use of a third party to facilitate trades. Instead, buyers and sellers are able to directly trade with one another, using various payment methods and currencies.

This makes it incredibly easy and convenient for people to buy and sell cryptocurrency on the platform.

Paxful is a global platform, with users from all over the world. It currently supports over 300 payment methods and allows users to buy and sell Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.

How does Paxful Work?

Paxful is a peer-to-peer digital currency exchange that offers Bitcoin, Ethereum, and Tether. It allows buyers and sellers to connect via ads.

During the trade, the currency is kept in Paxful’s escrow account, and when the payment is confirmed, the crypto is sent to the buyer. Paxful exchange has its own wallets where the crypto is stored by default, but it is possible to withdraw it to an external wallet.

To use Paxful, you can either view the buy or sell offers of the wanted cryptocurrency, search for offers using filters, or post your own offer.

To start trading, you must create an account and pass identity verification. Your trade limits are based on the type of verification you passed. The verification levels are divided into several categories, each having its own requirements.

Level	Verification	Per Trade Limit	Trade Volume Lifetime Limit	Send From Wallet Lifetime Limit
0	N/A	$0	$0	$0
1	Phone	$1,000	$1,000	$1,000
2	Email and ID	$10,000	$10,000	$10,000
3	Address	$50,000	Unlimited	Unlimited
4	Enhanced due diligence	Higher than $50,000	Unlimited	Unlimited

Paxful Fees Overview

There is no cost to purchase cryptocurrency when using Paxful exchange; however, there is a fee incurred when selling cryptocurrency, and the amount of the fee is based on what payment method is used.

Trading Fees

Payment Group	Sell	Buy
Bank Transfer	0.5%	No fee
Other Bank Transfer	1%	No fee
Credit/Bank Card	1%	No fee
Digital Currency	1%	No fee
Online Wallet	1%	No fee
Cash	1%	No fee
Goods & Services	1%	No fee
iTunes and Google Play gift cards	5%	No fee
All other gift cards	3%	No fee

source: Paxful.com

When you dispatch cryptocurrency from Paxful to either another Paxful wallet or an external crypto wallet, there is a fee that is applicable. The amount of the fee varies depending on the type of cryptocurrency and the amount being sent. Conversely, it is free to receive cryptocurrency in a Paxful wallet.

On the other hand, a 0.5% conversion fee is charged for any cryptocurrency transactions completed on Paxful.

Read: 100 Best Centralized Exchanges of 2023 – What Are Centralized Exchanges (CEXs)?

Buying Cryptocurrency

When purchasing digital currency from another person on Paxful, the cost is determined by the retailers themselves. The rate fluctuates based on several elements, including your authentication standing, payment mode, currency set (like USD, EUR, CNY), and the magnitude of your order.

Selling Cryptocurrency

• At the beginning of the trade, a certain sum of money is removed from your Paxful exchange account. When the transaction is finalized, the escrow charge is taken by Paxful. However, if the exchange is not concluded, the digital currency is returned to the vendor without Paxful receiving any fee.
• On top of Paxful’s escrow cost, particular kiosk trades may necessitate an additional fee. To get more details on kiosk trades, refer to this section from our Support Center.

Sending and Receiving Bitcoin

Wallet Type	Send	Receive
External Wallet	$0 – $9.99 = 0.00008 BTC fee $10 – $19.99 = 0.00016 BTC fee $20+ = 0.0004 BTC fee	no fee
Internal Wallet	Up to 1,000 USD per month for free (between all cryptocurrencies) After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied	no fee

Sending and Receiving Tether (USDT)

Wallet Type	Send	Receive
External Wallet	Dynamic Ethereum or Tron network fee + Paxful Wallet fee Paxful Wallet fee breakdown: $0 – $9.99 = 1 USDT fee $10 – $19.99 = 2 USDT fee $20+ = 5 USDT fee	no fee
Internal Wallet	Up to 1,000 USD per month for free (between all cryptocurrencies) After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied	no fee

Sending and Receiving USD Coins (USDC)

Wallet Type	Send	Receive
External Wallet	Dynamic Ethereum network fee + Paxful Wallet fee Paxful Wallet fee breakdown: $0 – $9.99 = 1 USDC fee $10 – $19.99 = 2 USDC fee $20+ = 5 USDC fee	no fee
Internal Wallet	Up to 1,000 USD per month for free (between all cryptocurrencies) After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied	no fee

• When transferring USDC, it is essential to make sure that you are using an ERC-20 compatible Ethereum address as this digital asset can only be sent and received over this blockchain network.

Sending and Receiving Ethereum (ETH)

Wallet Type	Send	Receive
External Wallet	Dynamic Ethereum network fee + Paxful Wallet fee Paxful Wallet fee breakdown: $0 – $9.99 = 0.0005 ETH fee $10 – $19.99 = 0.001 ETH fee $20+ = 0.002 ETH fee	no fee
Internal Wallet	Up to 1,000 USD per month for free (between all cryptocurrencies) After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied	no fee

Lightning

Wallet Type	Send	Receive
External Wallet	1% of the amount being sent	no fee

Converting Cryptocurrency 

Conversion Type	Fee
All cryptocurrency conversions	0.5%

source: Paxful.com

Paxful Fees: What You Need to Know

Paxful fees can be quite high compared to other cryptocurrency exchanges, depending on the payment method you use. For example, if you’re using a credit card to purchase Bitcoin, you’ll be charged a 5% fee.

Other payment methods may have different fees, so it’s important to do your research before getting started.

Paxful Withdrawal Fee: Is it Worth it?

Paxful does charge a withdrawal fee, which is typically 0.001 BTC (or the equivalent in other currencies). This is a fairly standard fee among cryptocurrency exchanges, so it’s not really worth worrying about. As long as you’re aware of this fee, it shouldn’t be an issue.

Amazing Benefits of Doing a Paxful Review: Get the Full Story Now!

If you’re looking to get into the world of cryptocurrency trading, then you’ve likely heard of Paxful. Paxful is one of the most popular and reputable cryptocurrency exchanges out there, and it’s easy to see why.

In this blog post, I’m going to do a comprehensive Paxful review and break down all the amazing benefits you can get from doing a Paxful review.

We’ll look at everything from the Paxful exchange and fees to the Paxful wallet and app. Let’s get started!

Benefits of Doing a Paxful Review

Doing a Paxful review can be immensely helpful for anyone looking to get into cryptocurrency trading.

Let’s take a look at some of the benefits of doing a Paxful review:

• Learn about the variety of payment methods available on Paxful, from debit cards and bank transfers to gift cards and more.
• Understand the fees associated with trading on Paxful, so you can make informed decisions about your trades.
• Discover the security measures that Paxful has in place to protect your funds.
• Learn about the Paxful wallet and app, and how to use them to stay up-to-date with your trades.
• Get to know the Paxful sign-up process and how to create an account.
• Discover the benefits of having a Paxful account.

By doing a comprehensive Paxful review, you can learn all of this and more, giving you a better understanding of the platform and how to make the most of it.

Cryptocurrency Selection

As mentioned before, Paxful provides the facility of buying and selling Bitcoin, Ethereum, and Tether. In contrast, other crypto exchanges offer a more extensive selection of up to fifty different cryptocurrencies.

The downside of Paxful is that it only offers a small number of cryptocurrencies. If you wish to invest in anything besides the leading crypto coins, you need to look elsewhere.

What kind of services does Paxful provide?

Paxful exchange provides a variety of services to both its users and sellers of bitcoin. As a buyer, you can search for sellers of bitcoin based on the amount of bitcoin they have listed for sale.

You can also use the platform’s social media features to find potential buyers. When looking for a seller of bitcoin, you can search by listing bitcoin amount, location, and listing format. As a seller, you can list bitcoin amounts, bitcoin listing format, bitcoin price, and payment method.

You can also use the platform’s mobile app to sell goods and services, send and receive bitcoin payments, track bitcoin transactions, and exchange bitcoin for other cryptocurrencies.

When looking for a listing, you can choose to include your listing details, like bitcoin amount, bitcoin listing format, and bitcoin price. When someone commits to buying your bitcoin listing, you can instantly accept their payment.

What are the advantages of using Paxful?

• Easy to use interface.
• Easy to set up and use.
• High level of security, due to regulation and MFA.
• Low fees, due to regulation and MFA.
• No account minimum.
• No KYC/AML requirements.
• Instant bitcoin purchases.
• Bitcoin gifting.
• Bitcoin debit cards.

What are the disadvantages of using Paxful?

• User reviews are unavailable when making a bitcoin purchase.
• No fiat to bitcoin conversion.
• No margin trading.
• No zero-commission stocks.
• No free trading.
• No Android app.
• No Mac app.
• No Bitcoin Gold.
• No Bitcoin Cash.
• Limited payment options.
• No Bitcoin Scrypt.

Paxful Platforms

Paxful exchange provides users with two opportunities to trade in digital currencies, which are:

1. Paxful Web Interface: This platform is quite analogous to other trading ones. These web-based tools give buyers and sellers the capacity to carry out trades in a diversity of orders. The web-based interface automatically looks for the top deals for their trades in accordance with their particulars.
2. Paxful Mobile Interface: Recently, a mobile version of the Paxful platform was engineered, allowing traders to purchase and sell digital currencies while they are on the move. This mobile interface can also be utilized as a wallet, delivering the same features as its web counterpart.

Paxful Mobile App

The Bitcoin wallet application from Paxful is compatible with Android and iOS devices and can be downloaded on any gadget. Logging into the crypto trading platform is swift and safe through the mobile app.

The Paxful mobile application has the following features:–

1. Profile customization
2. Up-to-date balance
3. Verifying the current Bitcoin transactions
4. Keeping track of the current fiat-to-crypto exchange rate
5. Capability to store, send and receive various digital coins in the wallet app.

Paxful Wallet: Is it Safe?

The Paxful wallet is a great way to store your cryptocurrency, and it’s incredibly secure. All of your data is encrypted, and the wallet itself is secured using two-factor authentication.

This makes it incredibly difficult for anyone to access your wallet without your permission, so you can rest assured that your funds will be safe.

Paxful Bitcoin Wallet: Are There Alternatives?

If you’re not a fan of the Paxful wallet, there are other options available. For example, you can use a hardware wallet such as the Ledger Nano S or Trezor to store your Bitcoin.

These wallets are even more secure than the Paxful wallet, and they also offer additional features, such as multiple signature support and additional security features.

Paxful App: What You Should Know

The Paxful app makes it incredibly easy to stay up-to-date with your trades. It’s available for both Android and iOS devices, and it has all the same features as the web-based platform.

The Paxful app also makes it incredibly easy to monitor the cryptocurrency markets, so you can always stay on top of the latest trends.

Paxful Account: What Are the Benefits?

Having a Paxful account comes with a lot of benefits. For starters, you’ll be able to easily buy and sell cryptocurrency.

You’ll also be able to store your funds in the Paxful wallet and keep track of your trades with the app. Plus, you’ll get access to the Paxful support team, in case you ever have any questions or issues.

Create a Paxful Account – Opening an Account

To take advantage of the specialties of the Paxful trading platform, traders must have an active account and fulfill the compulsory rules for registration, which necessitates ID confirmation for certain areas.

It is important to note that people from Cuba and North Korea are not qualified for creating an account on Paxful.

Furthermore, customers need to meet extra KYC criteria and ID verifications for high-volume traders and high wallet limits, such as answering certain security questions and video verification.

The limitation requirements and their verification degrees are:–

1. Verification by phone and email is necessary and a lifetime limit of $1000 per transaction is provided.
2. Identity verification is needed and a $10,000 trade limit, as well as a lifetime limitation, is available.
3. Address confirmation is required and a $50,000 per trade limit with a limitless lifetime limit is provided.
4. Enhanced due diligence is mandatory and over $50,000 per trade with an infinite lifetime limit is offered. It is to be noted that Paxful has the authority and right to delete a user’s account with a single withdrawal or cancel a trade entirely if they find any breach of the terms of service or if the trader is in a restricted jurisdiction at the Paxful login.

Trade Crypto on Paxful – How to Buy Bitcoin on Paxful?

Signing up for an account on the Paxful exchange platform is an uncomplicated process that should take only a few minutes. Users simply have to visit the official website and click on Create Account, entering the necessary personal details.

An email will be sent to the user to confirm the account, and then they will need to visit their profile page to verify their phone number.

After that, the platform will permit buyers to put money into their Paxful wallets, which can be done by selecting from a variety of payment methods. Before investing, it is important to note that Paxful requires identification documents to authenticate the account.

Individuals who have placed funds in their digital wallets can start obtaining Bitcoin. Once more, go to the dashboard and click ‘Buy Bitcoin’ as well as the amount you wish to purchase. Choose your preferred method and currency from the website.

When you have selected the payment method and the currency, Paxful will display a list of eligible vendors. Customers can check the sellers either through their photo ID or their selfies and make certain that they are confirmed on the platform with over 200 ratings.

Once a verified vendor is selected, buyers will enter the amount of crypto they would like to spend. The money directly goes to the Paxful Escrow and eventually, the sellers receive it once they offer the digital currencies to their buyers.

Paxful Review 2023: What could be improved

Provides a limited selection of crypto assets

Paxful offers limited choices when it comes to trading cryptocurrencies, as it only has Bitcoin and Ethereum, two of the market’s leading coins, as well as Tether, a digital currency created to remain at a value of $1.

If your goal is to create a portfolio composed of different cryptos, this platform would not be able to meet your needs, and even if you are content with just Bitcoin and Ethereum for the moment, you may end up wanting to have more choices in the future.

Risk of scams

When engaging in peer-to-peer cryptocurrency trading with Paxful, one must be conscious of the potential for scammers. It is critical to review the reputation of the other person before making any deals. On the contrary, when utilizing cryptocurrency exchanges that handle transactions for you, these worries are not a factor.

If you are intending to utilize Paxful to purchase or sell cryptocurrency, there are a number of scams to be aware of:

1. Do not consider trading outside of the Paxful market even if the seller offers a discount. If you don’t use the website for your transaction, you will not have its escrow protection, and the seller could steal your money and run away.
2. Refuse to cancel the trade after payment. Be aware that this is a common scamming technique with gift card payments but could also happen with other methods. If you go ahead with the cancellation after you have already paid, the scammer could take your money.
3. Be careful when a buyer pays with a payment method that can be reversed and then launches a chargeback. This could be the case for credit cards or PayPal users, who could get the crypto and then request a chargeback. Despite the fact that you can report the chargeback to Paxful, the platform does not guarantee that you will get your money back.

Making trades can be challenging

Obtaining and disposing of crypto on Paxful can be quite a hassle. You need to go through multiple offers to select one at an affordable rate, with an appropriate payment method compatible with you, and from a vendor with excellent reviews.

When you have located a suitable offer, you must read the rules carefully and communicate with the other user. It is pertinent to point out that a lot of Paxful’s customers come from outside the U.S., so in certain cases, there could be a language constraint.

In the event that you are determined to utilize Paxful, these problems can be dealt with. But if you are looking for something speedy and straightforward, there are other crypto exchanges available.

Limited support options

Paxful does not have the most efficient customer service system. To get help, you are limited to two choices: use a chatbot or submit a ticket.

There is no option to communicate with a person directly or by telephone. To submit a ticket, you have to go through several steps with the chatbot before you can describe your problem and send it to Paxful.

Not accessible in three states

Regulatory limitations mean that Paxful cannot be utilized in New York, Washington, and West Virginia. Moreover, it is not permitted to provide Tether trading to customers in Texas.

Are there any fees to use Paxful?

Paxful charges no fees for trading bitcoin. When listing bitcoin amounts on the platform, you can choose from a variety of listing formats, such as “I have 0.02 BTC for sale” or “I am selling bitcoin for $500.”

You can also choose your listing format to help people who search for bitcoin listings. When you commit to buy bitcoin amounts listed on the platform, Paxful charges a fee of 1% of the bitcoin amount, in the form of a “Buy Guarantee Fee.”

When you buy bitcoin amounts, Paxful charges a “Buy Now Fee” of 0.5% of the purchase amount, which is in the form of a “Buy Now Guarantee.”

What payment methods are accepted on Paxful?

Paxful offers a variety of payment options for its users. You can use cash deposits, bank wire transfers, and a variety of payment methods available on the platform.

Paxful accepts cash deposits from the following countries: the United States, Canada, Singapore, South Africa, and Australia. You can also use various payment options available on the platform, like PayPal, Skrill, Neteller, and Amazon payment.

You can also use a number of gift cards like Starbucks, Amazon, and Walmart. Paxful also offers a mobile app that enables you to pay for goods and services with your mobile phone.

Is Paxful the right cryptocurrency exchange for you?

Paxful is a great way to quickly buy bitcoin and trade altcoins. It is easy to use, and there are no account requirements or minimum deposit amounts, or withdrawal amounts.

The platform is also regulated, secure, and backed by a strong referral program. When looking at these advantages and disadvantages, you can see that using Paxful is a great choice for both new and experienced cryptocurrency traders.

Paxful Review: How safe is Paxful?

Paxful is an incredibly safe exchange to use. The company is regulated by FINTRAC, and all users must pass a FINTRAC background check before using Paxful.

Paxful also uses State-of-the-Art security protocols, such as multi-factor authentication (MFA), to protect user accounts and bitcoins stored on the platform. Paxful has a Referral Program that rewards users who bring new users to the platform.

This can incentivize you to invite your friends who are looking to buy bitcoin to use Paxful. If someone commits to buying bitcoin from you through your referral link, you can receive 5% of that person’s bitcoin listing amount.

Paxful Review: Alternatives to consider

• If you are searching for a simpler approach to purchasing cryptocurrency: Gemini is straightforward to use. Not only does it have a simple trading interface, but it also provides some of the most comprehensive educational materials.
• If you desire to have a wider range of digital currencies to pick from: Bittrex offers you the opportunity to trade around 140 digital currencies, allowing you to purchase many of the prominent coins as well as some lesser-known ones. Furthermore, it is an excellent alternative if you are concerned about fraudulent activities on Paxful as it has a robust security system.

Paxful is right for you if

• You have the desire to participate in peer-to-peer cryptocurrency trading.
• You want the option to acquire or dispose of crypto using a vast selection of payment methods.
• You are willing to search for bargains in return for no costs for the transaction.

Which is better Coinbase or Paxful?

The answer to which platform is better depends on the individual user’s needs and preferences. Coinbase is generally considered to be a more established and secure platform, as it has been around since 2012 and is regulated by the Financial Conduct Authority in the UK.

Coinbase offers a variety of services such as buying, selling, and storing digital currencies, as well as offering its own cryptocurrency wallet. It also provides additional services such as trading and custodial services.

On the other hand, Paxful is a relatively new platform that was founded in 2015. It is a peer-to-peer marketplace that allows users to buy and sell cryptocurrencies with different payment methods such as bank transfer, debit/credit cards, PayPal, and even gift cards.

The platform provides an easy way to buy and sell digital currencies, however, it is not as secure as Coinbase due to its lack of regulation and lack of insurance for customers’ funds.

Ultimately, when deciding between Coinbase and Paxful, it is important to consider your individual needs and preferences.

Coinbase may be better suited if you are looking for a more established, secure, and regulated platform, while Paxful may be better suited if you are looking for a quick and easy way to buy and sell digital currencies.

Is your cryptocurrency safe with Paxful?

Purchasing, trading, and storing cryptocurrency on Paxful exchange is usually a safe experience. The escrow system provides protection for both buyers and sellers, but one must be aware of possible scams.

Paxful utilizes BitGo as its wallet service provider; BitGo is one of the leading digital asset custodians used by over 150 crypto exchanges. In addition to its state-of-the-art security, BitGo carries a $100 million insurance policy on the cryptocurrency it guards.

To add an extra layer of safety to accounts, Paxful offers two-factor authentication (2FA). This feature requires the user to enter a password and a code sent to their mobile phone to access their account, preventing hackers from accessing the account even if they have the password.

The biggest risk when using Paxful is scammers, so it’s important to review feedback and research common scams before trading with another user. It’s also suggested to store any crypto bought on Paxful in your own wallet so you have full control over it.

Final thoughts on Paxful Review 2023

If you are looking for a reliable and secure cryptocurrency exchange in 2023, Paxful might be the right fit for you. Paxful is a peer-to-peer financial service provider that offers a wide range of services for cryptocurrency investors and traders.

As a decentralized exchange, Paxful exchange offers its users access to a wide range of payment methods, including bank transfers, credit and debit cards, PayPal, and other methods.

In this Paxful review 2023, we will take a deep look into the platform and discuss if it is the right exchange for you.

Paxful Reviews 2023: Conclusion

Paxful exchange is an excellent platform for buying and selling cryptocurrency, and it comes with a lot of benefits.

Doing a Paxful review can be incredibly helpful for anyone looking to get into cryptocurrency trading, as it can give you a better understanding of the platform and how to make the most of it.

So, if you’re interested in trading cryptocurrency, be sure to do a Paxful review and get the full story now!

Paxful Reviews: FAQs