Paxful Review: Is it a Legit Platform to Trade Bitcoin?

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I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

Paxful is a legitimate cryptocurrency trading company that offers you many ways to pay, a decentralized peer-to-peer marketplace, low fees, top-notch customer support and a feedback platform.

Paxful Paxful
4.0
Fees: No fee to buy crypto
Account minimum: $10 trade minimum
Pros:
  • 350+ payment methods
  • Secure trading
  • Peer-to-peer marketplace
  • No fees for buying crypto
Cons:
  • Limited crypto selection
  • Risk of scammers on the platform

Are you worried your money might disappear into cyberspace if you invest in a dodgy company? Are you concerned about scammers and theft?

You might also worry about security and safety with a Paxful account.

Don’t worry because in this Paxful review, you will learn about the company’s history, security and benefits, as well as how to open your Paxful crypto account.

Read on to discover more about Paxful’s legitimacy, regulations and security measures.

What is Paxful?

Paxful homepage
Paxful.com homepage

Paxful is a crypto exchange based in the United States (U.S.) It’s available in dozens of countries, including the Philippines, Nigeria and most of the U.S.

It’s not available in the states of Washington, New York and West Virginia. The 10 million users trade crypto without a centralized force, which means they can buy crypto without their money going through a third-party bank account.

Transactions at Paxful happen directly between users. You can leave and read reviews through a feedback system, and there are many levels of identity verification.

Ray Youssef started Paxful in 2015 to help investors trade quickly and directly with other crypto investors. He is an Egyptian immigrant who grew up in New York City.

He gained experience in start-ups before establishing Paxful. Paxful’s mission is to make banking accessible to everyone.

The company is accessible in dozens of nations worldwide, and it gives back to society by building schools in underdeveloped countries.

How Does Paxful Work?

Paxful is a peer-to-peer cryptocurrency exchange that specializes in Bitcoin trades. It’s one of the leading decentralized exchanges with a user-friendly website.

You must create an account before viewing crypto sales. Select the form of crypto you want to buy, such as Bitcoin, then connect your payment method and start browsing sales.

The easy-to-follow beginners’ guide is a must-read. Once you create your account, you can also sell crypto. After you’ve advertised your coins for sale, interested users can contact you.

Paxful users make money by selling crypto to other traders. Paxful makes its money by charging small fees. There is no fee to buy Bitcoin, but sellers must pay a tariff of around 1%.

This is a service fee that helps keep the Paxful platform running.

LevelVerificationPer Trade LimitTrade Volume Lifetime LimitSend From Wallet Lifetime Limit
1N/A$0$0$0
2Phone$1,000$1,000$1,000
3Email and ID$10,000$10,000$10,000
4Address$50,000UnlimitedUnlimited
5Enhanced due diligenceHigher than $50,000UnlimitedUnlimited

Paxful Features

Paxful crypto users can take advantage of these features with a free account.

Paxful Peer-to-Peer Platform

The Paxful peer-to-peer platform is the hub for buying and selling your crypto. You can purchase or trade cryptocurrencies such as Bitcoin, or post your cryptocurrencies for sale.

Paxful supports three cryptocurrencies that are in use. You can buy or sell Bitcoin (BTC), Ethereum (ETH) or Tether (USDT) on the peer-to-peer platform.

Connect your Paxful wallet and use one of the 350+ payment methods to purchase cryptocurrencies.

Payment MethodSelling Fee
Bank transfer (same bank)0.5%
Bank transfer (different bank)1%
Credit or debit card1%
Digital currency1%
Online wallet1%
Cash1%
Goods and services1%
iTunes and Google Play gift cards5%
All other gift cards3%

Best for: Beginner or experienced traders who want a decentralized exchange to trade cryptocurrencies.

Paxful Bitcoin Wallet

The Paxful Bitcoin wallet is a secure tool for storing, buying, selling and sending Bitcoin. It’s a free and easy way to manage your money.

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.

Globetrotters find it easy to access their accounts across devices. You can use the online wallet to make a quick trade using one of the many payment options.

Fees: There are no commission fees for using the Paxful Bitcoin wallet.

Best for: People who use Bitcoin to make purchases, or trade large amounts of Bitcoin.

Paxful App

Use the Paxful app to browse sales and view Bitcoin prices and deals. You can see current exchange rates, get new coins or manage your account on the app.

Paxful’s app is a companion tool to the company’s website. It’s a fast way to manage your money, and you can select payment methods such as debit/credit cards, Paypal and bank transfers.

Best for: Traders who want to manage their crypto on the go.

Paxful Pay

Paxful Pay is a payment platform with over six million users. Businesses that deal with digital currencies can use Paxful Pay for easy and safe transactions with a moderator.

Customers log in with their Paxful account to use Paxful Pay. Then they can pay a business with the crypto in their Paxful wallet.

Paxful Pay is an alternative to fiat currencies and an efficient way for businesses to conduct sales.

Who Should Use Paxful?

I recommend Paxful.com for crypto users who want to use Bitcoin. The platform offers three coins, but most traders deal in Bitcoin.

If you use altcoins or fiat currencies, you must look for another platform. If you want a peer-to-peer crypto exchange, Paxful is perfect for you.

It’s decentralized, which means you can complete verified transactions without a moderator. Yet, Paxful does offer escrow options if you’re worried about authentication or scams.

Expect to trade Bitcoin safely and quickly if you open a Paxful account. It’s free to start, and the platform has a top-notch customer support team.

How Does Paxful Compare?

 
4.0
4.5
4.5
$10 trade minimum
$0
$0
No fee to buy crypto
0% - 3.99% varies by type of transaction
No fees for buying or selling Bitcoin
No current promotions
Sign up and get up to $200 in crypto
No trading fees for first month
4.0
$10 trade minimum
No fee to buy crypto
No current promotions
4.5
$0
0% - 3.99% varies by type of transaction
Sign up and get up to $200 in crypto
4.5
$0
No fees for buying or selling Bitcoin
No trading fees for first month

Getting Started with Paxful

Follow these steps to get started with Paxful:

  1. Register for a free account with Paxful.
  2. Choose your preferred payment method.
  3. Start buying, selling and trading cryptocurrencies.

Should I Use Paxful to Trade Bitcoin?

Use Paxful to trade Bitcoin if you want more control over your crypto. The decentralized aspect of Paxful helps users trade crypto without significant fees.

Paxful isn’t for everyone, and you may need to check if it’s available in your area. Regulations prohibit residents in the states of New York, Washington, and Virginia from using Paxful.

Paxful has top-notch safety measures such as identity verification, phone number verification, a lifetime limit and due diligence for high-volume traders.

Act today and sign up for your Paxful account.

Paxful FAQs

Here are some frequently asked questions about Paxful.

Is Paxful safe and legit?

Paxful is a legitimate company with millions of users, and BitGo secures the platform.

As with all crypto companies, scams are possible, but Paxful has a $100 million insurance policy to protect its crypto.

Can you make money on Paxful?

Yes, you can make money on Paxful by selling your crypto. Anyone can create a free account and post crypto for sale.

What crypto can you trade on Paxful?

You can trade three cryptocurrencies on Paxful, i.e., Bitcoin, Ethereum, and Tether.

Bitcoin is the most popular currency, so most trades are Bitcoin-based.

Where is Paxful located?

Paxful has its headquarters in Wilmington, Delaware, U.S., with satellite offices in Hong Kong, Estonia and the Philippines.

Paxful

Paxful is a global peer-to-peer platform building a financial system for the 100% — one #Bitcoin at a time. Join Paxful today!

We earn a commission if you sign up, at no additional cost to you.
Paxful
paxful review

Paxful is a global peer-to-peer platform building a financial system for the 100%

Product Brand: Paxful

Editor's Rating:
4

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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