Is Paxful Legit? What You Need to Know Before Investing

It comes with user-friendly services that allow for instant cryptocurrency transactions. It is designed to work with Android and iOS devices, delivering the convenience and features of the Paxful platform directly to your mobile device. Although Paxful is primarily known for its paxful bitcoin review cryptocurrency trading platform, it also offers a simple web-based Bitcoin and Tether wallet. It’s also a bold move given that a review has shown that 45% of all of Paxful’s wallets belong to African traders.

Unlike some service providers, Paxful does not offer commissions for sales made. While it’s more difficult to mine for Bitcoin these days, cryptocurrencies are gaining acceptance for even everyday purchases. Paxful helps connect buyers and sellers to easily exchange Bitcoin, accepting more than 300 different payment methods. For businesses, Paxful provides a simplified way for online shoppers to pay using Bitcoin. Paxful and LocalBitcoins are both global marketplaces for people to buy and sell bitcoin with any payment method. In such scenarios, P2P crypto exchanges perform the best and are also regarded as the platform of the future.

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• You usually get either a wide range of available offers, payment methods, and features, but have to pay expensive fees for the privilege, or you get low fees, but the features are lacking.
• This platform does offer an escrow service for every Bitcoin transaction.
• People post anonymously, so we cannot confirm their individual experiences or circumstances.
• Here, you’ll be asked to enter your email address and choose a password—make sure it’s long and complicated to keep it secure.
• If you move things over to Telegram or Whatsapp, then you will miss out on this protection.

The note urges victims to call a bogus PayPal customer service number, which is actually operated by the scammers, potentially leading to further fraud or theft of personal information. When compared to exchanges that only allow you to buy directly from them, Paxful has an escrow system that secures the buying and selling process for traders. The mission of Paxful is to give working people a simple, fair and secure platform for trading the value of their work and to be the Uber of bitcoin services. The company is disrupting the financial services industry by offering a brand new way for merchants to become their own exchange. Paxful charges a fee for sending Bitcoin from your Paxful wallet to an external wallet.

Scammers initiate the scam by sending a payment request to Paxful users, typically asking for a specific amount like $99.99. Overall, I recommend Paxful as a strong option for all audiences who are just getting started with bitcoin. Paxful is also a popular marketplace for advanced bitcoin sellers.

No Fees in Africa

• Paxful is a powerful and user-friendly crypto P2P trading marketplace with 300+ methods of payment, including a large selection of fiat currencies.
• They can monitor for suspicious activity and take steps to protect your accounts.
• When it comes to buying and selling limits you will need to complete various levels of identity verification to access higher and higher limits.
• Avoid disappointment by making sure that the person you are wanting to trade with is online.

After they unlocked it, they informed me that the scammers had won the dispute and released all my cryptocurrency to them.Paxful, you have broken my heart and the hearts of many others. You don’t seem to care about the impact of your actions on families like mine. I’m now struggling to provide for my wife and daughter, and it’s been an incredibly painful experience.

Written by the company

Paxful’s community has over 4.8 million users, and it is continuously growing. I am currently at risk of losing my asset in a P2P transaction on Paxful. I sent a detailed email outlining the situation, but I have only received automated responses.

Too many scammers on Paxful and the…

Paxful has no customer support besides the Live Chat Bot, I can’t recover my account it’s not sending me a recovery email. They’re charging me fee’s for no reason I don’t even use Paxful. Paxful is a legitimate company with millions of users, and BitGo secures the platform. It has strict verification and password requirements for your security and peace of mind. Over three million users across the world have Bitcoin wallets with Paxful. Paxful crypto users can take advantage of these features with a free account.

Payment Methods Supported

Whether you are using the web platform or the mobile app, the user experience is easy. To open a trade, users click on “New Order” to either place a bid or ask a seller to open a trade. Sellers can advertise their services to attract more buyers. Additionally, in order to verify the accounts created, Paxful has a rating system, like a verification badge on social media, to help users rate sellers and buyers they trade with.

Potential disputes are solved by the platform’s team of moderators. That said, a lot of Paxful reviews from other users have complained of inadequate customer support. Bybit’s P2P selection features the same four coins you’ll find on Paxful. It offers over 300 payment methods, putting it on par with our platform in question – although the list doesn’t include other cryptocurrencies. Both buyers and sellers can trade on its P2P platform with no additional fees.

Courtney has been interviewed as a retail authority by “Good Morning America,” Cheddar and CBSN. Her prior experience includes freelance writing for California newspapers. If you’ve been the victim of a financial scam, you’re not alone.

To activate the Paxful wallet, a buyer needs to make a cash deposit to the seller’s account using one of Paxful’s payment options, such as prepaid VISA, Gift Card Code, or Western Union. The seller releases Bitcoins to the customer immediately once they have received payment confirmation via Paxful wallet’s escrow service. Yes, Paxful is one of the most secure platforms for buying and selling bitcoin with different payment methods. The platform implements security measures to protect transactions, including an escrow service and two-factor authentication. However, like on any online marketplace, users should exercise caution and follow best practices to stay safe. Paxful is a peer-to-peer cryptocurrency exchange that operates a legitimate business.