Paxful Review 3.75/10⭐

If you have not triedPaxful yet, then give it a try today. Never has it been easier to get started with buying crypto.


NOTE: Customers from United States are not allowed to register. Find another broker here.

Paxful has over 350 different deposit methods to help you get started with crypto investing.

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Background & Overview

 

Paxful allows crypto traders to buy cryptocurrencies without paying any fees. However, sellers have to pay a fee that ranges from 0.5% to 5% depending on the payment method used. Since this is a peer-to-peer crypto exchange, the prices for
the tokens will be set by the seller of the coins. In many cases, you will find the prices for cryptocurrencies on this platform highly competitive, especially when compared with other major crypto exchanges.

A major benefit of
Paxful is that it supports a wide range of payment methods. You can use more than 300 deposit methods to purchase coins on this site. Some of the available options include bank transfer, PayPal, Amazon gift cards, Walmart gift cards,
and other cryptocurrencies.

It is easy to avoid scams on Paxful since it uses a reputation system. Users can leave feedback after trading with one another, and this makes it easier to find trustworthy trading partners. You should
check the number of positive and negative customer reviews to avoid scams. It is also important to look at the customer verification of the traders. Visit Paxful now!

 

Advantages at Paxful

+You wont have to pay a buying fee when using the service.
+Users of Paxful are not required to complete the verification procedure.
+Paxful
supports a wide range of payment methods.
+The site has a reputation system that helps traders avoid scams.
+You can access the service from almost all parts of the world.
+Paxful is very easy to use. 

Disadvantages

-It only supports a
handful on cryptocurrencies; BTC, ETH & USDT.
-The Paxful exchange is not regulated by any government.
-It is possible for users to get scammed on the site.
-You cannot use an Android or iOS app to access your
account.
-Paxful don't offer deposits with Zimpler, PayID or Solana yet. 

KYC & Registration

You can complete the Paxful signup process within a few seconds. The process simply involves filling in your telephone number or email and creating a strong password. To access more features and increase the security of your Paxful account, you will have to verify your email address, identity, and physical
address.

 

Company Account

Good news, you can indeed open a business account on Paxful! Their website details which documents are needed for sign up, and as to be expected verification and KYC is more lengthy than for individuals. You can have an individual account as well as a business one at the same time, and the business account enables you to trade up to 100,000 USD worth of crypto in one go.

 

Leverage

Paxful doesn't offer any leverage. It's a peer to peer crypto exchange, with a huge range of deposit options.

 

Costs

▪ Rated at 3/10

Paxful doesn't have any buying fees for crypto traders, and that means you will get to keep more of your
Bitcoins. However, sellers have to pay a fee that varies depending on the payment method used. Bank transfer trades have the lowest fees, at 0.5%. When using credit cards, digital currencies, online wallets, cash, and goods and
services, the rate will go up to 1%. If you want to transact with iTunes and Google Play cards, you will have to pay a trading fee of 5%. The fee goes down to 3% for all other gift cards.

 

Deposit Methods

▪ Rated at 7/10
Below you can see a list of the deposit methods available on Paxful. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.

Paxful supports all currencies in the world,
including but not limited to, US Dollar (USD), British pound (GBP), Canadian Dollar (CAD), Euro (EUR), Indian rupee (INR), Nigerian Naira (NGN), Chinease Renminbi (CNY), Australian Dollar (AUD), Brazilian Real (BRL), Chilean Peso
(CLP), Check Koruna (CHZ), Ethiopian Birr (ETB), Hong Kong Dollar (HKD), Jamaican Dollar (JMD) and Japanese Yen (JPY). However, when it comes to cryptocurrencies, only Tether (USDT), Bitcoin (BTC) and Ether (ETH) are supported.
Want to see how to get started? Go here to get get started with Paxful today. However, if you like many other users have a problem with deposits, despite the huge amount of deposit methods - then sign-up with eToro instead, a way more popular crypto site. Read more about the deposit methods at Paxful here.

 

Platforms

▪ Rated at 4/10

Paxful crypto exchange seems easy to use, but many have problems after they signed up. The site uses white and purple colours and is easy on the eye. In order to buy or sell cryptocurrencies on the site, you will have to use the links at the top of the page. You can filter the offers by the type of cryptocurrency, the available payment method, and the amount you want to sell or buy. Before initiating a trade, you should go through the reviews of the seller or buyer. This will help you determine whether the trader is reliable and reputable. What are you waiting for? Register for Paxful now - give it a try!

 

Automated Trading and Copy Trading

While they don't have an autotrade feature built in, they have a variety of third-party integrations that they discuss at length on their website. In terms of copy trading, there doesn't appear to be any feature of that nature live yet on Paxful, but there may be in the future.

›› Get started with Crypto Auto Trading at Paxful now. 

Languages supported

The following languages are supported on Paxful:

Arabic, Bulgarian, Chinese, English, Estonian, Danish, Finnish, Filipino, French, German, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Romanian, Russian, Slovenian, Spanish, Swedish, Thai and Turkish and Vietnamese

 

Broker Support

▪ Rated at 2/10

You can access Paxful customer support using only
two options: live chat and submitting a ticket. The site uses a live chatbot, so you won't be able to communicate with human beings via live chat. If you want to talk to the support team, you will have to submit a ticket through the live
chat function. The support agents are helpful and will always sort out your issues fast. However, the process of submitting a ticket can be frustrating.

 

Other Names for Paxful

Paxful is or has also been known under the following names: Paxful Inc

 

FAQ

Where can I register for Paxful?

The best way is to open an account here and if you have any further questions you can get in touch with their support directly.

Is Paxful a reliable website?

Yes, this platform is reliable and can be used to
trade 24/7. You can avoid scams on the site by going through the reviews of the traders. Also, avoid working with people who want to trade outside the website as this will leave you vulnerable to scams.

Are my cryptocurrencies
safe at Paxful?

Yes, this website uses an escrow system to prevent fraud. For the storage of your cryptocurrencies, the website uses BitGo, a leader in digital asset custody. The main risk to your cryptocurrencies on this website is
scammers, so you should enable 2-factor authentication.

Which fees do I have to pay when trading on this platform?

You don't need to pay any fees when buying cryptocurrencies on this site. However, selling these coins
comes with a fee of between 0.5% and 5%.

Is this website accessible in all countries?

No, a few countries have been banned Paxful, including North Korea, Libya, Yemen, Burundi, Central African Republic and Iraq.

 

History of Paxful

21/12 - Payful reveals that they are removing the world second largest cryptocurrency, Ether (ETH), from trading at their platform. They do not seems to like proof of stake, but still haven't removed the other crypto coins and tokens that use PoS.
4/10 - Paxful are not doing so well and they have stopped working with all kinds of partners, without any prior warning.

 

Instruments available

Find the full list of instruments available to trade at Paxful here. Here are the instruments available on Paxful that you can buy or sell.

▪ Rated at 6/10

Crypto Currencies

USD/BTC, USD/USDT, USD/ETH, GBP/BTC, GBP/ETH, GBP/USDT, BTC/ETH, BTC/USDT, ETH/USDT, CAD/USDT

›› Sign up at Paxful here
NOTE: Customers from United States are not allowed to register. Find another broker here.

Screenshots from Paxful

Related blockchain? Learn more about Bitcoin Blockchain

Bitcoin Blockchain is the blockchain that Paxful relates to, so it's worth reading more about it below.

A couple of decades ago, the financial world was taken by storm by the introduction of digital currency. The first of its kind is Bitcoin, which is also the world's most known cryptocurrency and blockchain. Among others like Ethereum, this digital asset operates on a technology known as the blockchain, hence the term Bitcoin Blockchain...

›› Read our full Bitcoin Blockchain review here

Bitcoin is the first major blockchain, consisting of an innovative payment network and a new kind of money.

Read the Paxful Terms and Conditions here.
Paxful Review Published: Tuesday, 12 Jul 2022 6:43 pm
Last Updated: Thursday, 9 May 2024 1:26 pm