Follow the link in the confirmation email to confirm your account. Go to your account profile page and verify your phone number by inserting the code sent by SMS. You may also set up SMS, Google Authenticator or Authy as a 2FA option.
- It’s not only buying Bitcoin that’s possible with Paxful, selling Bitcoin is also an option.
- The one downside, however, is that any trade over $50 will require the trader to complete a KYC verification before it can be completed.
- Consult an expert when making financial decisions and only invest money you can afford.
- Given that trade sizes in Africa tend to be fairly small Paxful has decided not to charge any transaction fees for trades below $20.
As mentioned, Paxful supports in person cash transactions. These can be very beneficial as the buyers and sellers can connect and transact without leaving a digital footprint, I.e. bank transfer record or credit card statement. Additionally, Paxful advises members never to cancel a trade when asked to do so by a seller after making a payment, especially in transactions that involve gift cards.
It has a beautiful interface and makes it easy for you to choose a vendor. If you choose vendors wisely, you can get excellent rates. However, there are a few general guidelines you can follow to help you choose the safest Bitcoin wallet for your needs. Bitcoin can make you rich if you are willing to invest in it for the long term. Bitcoin is a volatile asset, which means its price can go up and down a lot in a short period of time.
Another option is to use a paper wallet, which is essentially a piece of paper with your Bitcoin private keys printed on it. Someone suggested on one of those threads it was BitGo’s fault, yet the reputation of Paxful seems to be mixed. 0.001 BTC is the minimum amount that Paxful allows any vendor to offer, no matter their verification level.
Second, make sure your seller has enough reputation and has conducted enough trades in his past to avoid getting scammed. As long as you are aware of these two points, the platform offers a solid solution for purchasing Bitcoins. Paxful brings users the ability to buy Bitcoins with almost any conceivable payment method. The user experience is extremely intuitive and while everything seems pretty neat there are still some things you’ll need to look out for. Bank deposits, Western Union and Moneygram can take some time, as you must leave your home to their branch to deposit cash.
PAXFUL IS A SCAM
Once the seller confirms receipt of funds from Paxful’s escrow service, they release Bitcoins to the buyer directly. Sellers can accept over 300 different payment methods, not to mention a capacity to accept over 85% of international buyers. Sellers are charged by the platform, based on the payment method they supply. For using Bank Transfer they have to pay a fee of 0.5% and for gift cards it can be up to 5%.
On CryptoTips you read independent reviews about crypto companies where you can buy cryptocurrency or leave your own review. Find out which online crypto service or hardware suits the best for you and make the choice yourself. Paxful has an acceptable level of trust if you compare it with other exchanges available on the internet. If you look at the history of this exchange you will not find a single incidence of hacking. This increases the trust of its users on the platform.
Paxful review in a nutshell
The seller however pays a fee for the used payment method (between 0.5% and 5%). Bottom line is that you never exactly know how much fee https://forex-reviews.org/ you pay, since the seller can make up his own price. The fees must be higher than 0.5% / 1%, otherwise the seller will make a loss.
Cryptogeek.info needs to review the security of your connection before proceeding. However, it’s your obligation to read the potential signs every time you are about to engage in an online business. Last but not least, remember that even the best businesses in the world have occasional complaints and unhappy consumers. More importantly, if you disagree with this score, please write down your bad experience in the comments section so we can adjust the rating.
The best part about the Paxful wallet app is that you can sell bitcoin with them even if it does not belong to you at all. As of now, multiple vendors have been verified, and the platforms comprise thousands of buyers from around the world. Once you placed an order with the paxful review Paxful wallet app, the funds will be held in escrow until a bitcoin seller fulfills their obligation of sending the coins over to you. This process may take a little bit longer to receive the coins in your wallet. Paxful won’t ask you for ID if you have a tier 1 account.
This information is laid out in their terms of service. Overall Paxful wants to make it as easy as possible to buy and sell Bitcoin and that means that they try to let as many countries as possible participate. Paxful will now bring you through the buying process and the Bitcoin will arrive in your Bitcoin wallet once your payment method clears.
These rates vary based on factors such as your identity verification status, after which point you want to pay, and what currency combinations you’re interested in. The platform is available globally, and the minimum purchase amount in Paxful is only $10. But you want cash and crypto, not some useless gift cards to buy more pizza. You want to stack your bitcoins and retire on a private island before your 30th birthday.
Best Paxful Alternatives
The one downside, however, is that any trade over $50 will require the trader to complete a KYC verification before it can be completed. A lot of other exchanges have affiliate programs but very few of them are as generous as the Paxful program. The actual process of buying Bitcoin on Paxful is very straightforward. The most important thing to know about Paxful is that they only support the buying of Bitcoin. If there would be some problem you have the ability to open a dispute, in order for you to get your money back. You can then wait for the seller to release the BTC.
Can police trace Bitcoin?
Paxful became known thanks to a particular niche and has been loyal to its vision. All things considered, Paxful is quite a powerful platform and is considered to be a fair alternative for “normal people” to buy and sell Bitcoin. The Paxful forum is full of scam accusations against other users.
Paxful aims to make the Bitcoin trading process simpler. To begin trading, go to the official website and click the Buy Bitcoin option. A message box will appear, asking for the amount of Bitcoin and the type of fiat currency. Paxful provides a free digital wallet which comes automatically once you create your Paxful account.