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Paxful Review – Pros, Cons, Fees, Features, and Safety

Paxful is a cryptocurrency exchange that allows its 160,000 monthly users over 300 ways to buy Bitcoin. It can also be used by website owners to accept Bitcoin payments on their websites.
Rating 3/5


If a cryptocurrency exchange can be all things to all people, Paxful is the service! Paxful offers 300 ways to buy cryptocurrency, all the while maintaining a great trust rating with the 160,000 monthly users of its Bitcoin exchange platform. Following its recent partnership with BitMart, the peer-to-peer bitcoin marketplace is integrating into the top 20 cryptocurrency exchange and bringing real-time crypto trading to its global community.

Has Paxful fulfilled its mission to provide a “simple, fair and secure” Bitcoin exchange service? We have conducted an in-depth review of the fees, features, and pros and cons of Paxful and concluded that Paxful earns high marks on fees, service quality and reliability. No doubt Bitmart courted Paxful for its successful P2P decentralized exchange model.

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    What is Paxful?

    What started out as a modest Bitcoin trading service has become a major force in the development of a universal currency. Founders Ray Youssef and Artur Schaback saw an opportunity to deliver both a commercial service and social good through Bitcoin trading. Almost one-third of the world is still unbanked, but three-quarters have a mobile phones. With a mobile, anyone in the world can connect to Paxful and find trading partners. A multi-tier affiliate program helps spread the word. In 2018, 41 percent of Paxful’s USD 20 million in revenue was generated from the Africa region.

    Paxful has improved the legitimacy of crypto trading by putting a face on Bitcoin trading through:

    ◻️ Live social connections – Paxful users complete the sale over live chat, placing a real person behind the trade in the sometimes murky world of crypto trading.
    ◻️ Reputation ratings – Buyers and sellers increase their market power through reputation management. Both parties to a transaction are rated at the completion of a sale. The higher a seller’s reputation, the more pricing power they have in the market.

    The introduction of biometric identification this year stamps a real facial imprint on a Bitcoin transaction, making fraud even more difficult to perpetrate.

    How does the Paxful exchange work?

    Paxful provides a website and app to instantly buy cryptocurrency. The two ways to connect and trade Bitcoin on Paxful are:

    Website – See more details on how to trade using the website dashboard below.
    Virtual Kiosk Link – The Virtual Kiosk is a widget that can be placed in any website, mobile app, YouTube channel or social media. You receive a 2 percent commission on all sales made through your kiosk.

    An escrow account is used to protect both buyer and seller. If there is a disagreement, a dispute process is used, which has enhanced the reputation of the service. In comparison, on exchanges like LocalBitcoins or Coinmama you will have to appeal to the payment processor for a remedy (e.g., Visa, PayPal).

    If you want to accept Bitcoin on your website, add a Pay With Paxful button. The payment will be processed instantly from the user’s wallet.

    What cryptocurrencies does Paxful support?

    Paxful supports the buying of Bitcoin. If you want to to buy Ethereum with PayPal, Ripple or alt coins, you will not currently find them for sale on Paxful. If you want to buy and sell Bitcoin on a secure exchange with 300 payment methods, visit Paxful. You can sell cryptos for Bitcoin. Among the payment methods are popular cryptocurrencies, including Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), DASH (DASH), and more. The upcoming integration of Paxful and BitMart could add over 100 cryptocurrencies to Paxful.

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    Rating
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    Mobile App Rating
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    Mobile App
    Wallet
    Number of Coins
    14059223413535915115
    Trading Fees
    SpreadsSpreads0.1%0.1%0.1%0.1%0.50%Spreads0.2%
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $5N/A0.0005 BTCN/AN/AN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCACySECN/AN/AN/AFCAFCACBI, MiFIDN/A
    Min. Deposit
    $50100 EURN/AN/A$10$10$2$100N/A
    Leveraged Trading
    N/AN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30x1-200x
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