Paxful Review
Paxful, founded in 2015 in the US, is a peer-to-peer marketplace where users can buy, sell and store various cryptocurrencies. The service is available on their website, or in a “virtual kiosk link”, that any person or website owner can use.
It is accessible in over 50 countries, such as the USA, the UK and Hong Kong, and available in over 50 languages as well, including English, Spanish and Chinese.
Paxful enables trading cryptocurrencies and over 50 fiat currencies, including USD, EUR and GBP.
In order to register to the platform, Paxful conducts a customer verification process that requires a government-issued ID, proof of address, and photos and videos should the platform ask for them. After signing up Paxful grants all it users a free wallet.
As for payment methods, the platform offers more than 300, including but not limited to bank transfers, PayPal and cash. When buying cryptocurrencies on the site there are no fees, but when selling they range from 0.5%-5%, depending on the payment method, while there is a fixed conversion fee of 0.5%.
Furthermore,the platform is entitled to impose limitations or restrictions on the size, type or manner of any proposed transaction,such as a limit on the total amount of digital assetsthat may be listed for sale.
Regarding user reviews, Paxfulis rated 2.5 stars on TrustPilot, with users leaving mixed reviews about their experiences.
If you wish to contact Paxful, you should be able to do that through their website, or various social media accounts.
In conclusion, Paxful is a free trading platform that offers many payment methods, but its peer-to-peer nature could cause some unpleasant experiences.
For a more detailed review, please see the attached table:
| Supported countries | There are over 50 supported countries including the USA, the UK, Germany and Honk Kong. |
| Supported languages | There are 28 supported languages such as English, Spanish, Chinese and Japanese. |
| Supported currencies | There are over 50 supported currencies, such as USD, EUR and GBP. |
| Supported platforms | Paxful wallet – Paxful grants every user a free wallet. |
| Fees | Buying cryptocurrencies – There are no fees when purchasing cryptocurrencies. However there is a 1% fee when selling them, and a further 0.5% when using bank transfer, 3% when using gift cards and a further 5% when using iTunes and Google cards.
Bitcoin fees – When sending Bitcoin to an address outside of the platformthere is a $20 |
| Fees | Buying cryptocurrencies – There are no fees when purchasing cryptocurrencies. However there is a 1% fee when selling them, and a further 0.5% when using bank transfer, 3% when using gift cards and a further 5% when using iTunes and Google cards.
Bitcoin fees – When sending Bitcoin to an address outside of the platformthere is a $20 and 0.0004% fee. When sending Bitcoin to another address in the platform, a transaction higher than $1,000 requires a 1% or $1 fee, whichever is higher. Conversion fees – There is a 0.5% conversion fee. |
| Payment methods | There are over 300 payment methods, including gift cards, bank transfers, PayPal and cash. |
| Limits | The platform may, in its sole discretion, impose limitations or restrictions on the size, type or manner of any proposed transaction, such as a limit on the total amount of digital assets that may be posted for sale.
All transactions must take place within Paxful. |
| Contacts | You can contact the service through its website or via its Instagram, Facebook, Twitter or YouTube accounts. |
| Reviews | The service is rated 2.5/5 stars on TrustPilot. |