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Paxful: Reviews, Features, Pros & Cons, Alternative

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Paxful is an online marketplace where buyers and sellers meet online and trade bitcoins. Paxful is one of the biggest USD peer-to-peer bitcoin marketplaces by volume which can be said it has revenue of over $20,703,199 as of December 1, 2018. You can buy bitcoin from Paxful bitcoin with any payment method. You can know on this article about paxful review and all things about

paxful review

History of

In July 2015, Paxful Inc. was co-founded by Ray Youssef and ArturSchaback. It was first started as a payment processing platform for brick-and-mortar merchants. Then it was eventually reintroduced on the bitcoin market as Paxful Inc.

It is an easier way for people to buy bitcoin and also it emphasized a peer-to-peer working system, which would become the service’s chief focus. The platform of Paxful saw an increase in users after the classified advertising website Backpage had their credit card merchant services removed in 2015. This led the site to provide the link to Paxful to their users, which was then known by the platform’s co-founders as the ‘Back page Effect’.

Paxful Inc. saw more increase in its popularity among users with the launch of the Pay with Paxful feature, which allows users to pay with bitcoins instantly in 2016. Paxful Inc. has expanded its services worldwide, namely New York, The Philippines, and Hong Kong, and provides more than 300 payment methods for users as of 2018.

A gift card is one of the most famous payment methods available on the platform which makes up 64% of the trades conducted on the platform and over $880,000,000 worth of bitcoins being purchased. Their expansion to Venezuela beginning in October is one of the most recent ventures of Paxful Inc. of 2018.

The Co-Founder of Paxful Inc.Ray Youssef has stated that the plan for expansion was to help more mobile phone subscribers of the country gain access to bitcoins in an interview with CoinDesk. Youssef has also stated in introducing the platform as an application through Android in the same interview. Paxful Inc. was cited in a report by the email defense firm Agari in early 2018. The report presents findings on a Nigerian scam group the company has dubbed Scarlet Widow with potentially millions of dollars of stolen gift cards laundered through the Paxful platform. So you just need Paxful account.

The uses of

You can buy bitcoin from with any payment method. There are payment methods like E-Wallet, Bank Transfer, Paypal, Skrill, Perfect Money, Western Union, etc. and many more. The partnership with Binanceenables you to buy and sell digital currencies on Paxful, using your existing Binance account. You can buy bitcoin with iTunes gift cards and Amazon gift cards. With the help of this platform, you can buy an exchange bitcoin with Bank Transfer and cash deposit.

You can also use it to buy bitcoin with PayPal, Neteller, and Skrill. You can also do a bitcoin exchange locally by exchanging cash in person on this platform. From Paxful, you can buy bitcoin with Ripple, bitcoin, and Etherum too.

paxful review

How does work? is very simple with navigation and all the tools you need to accomplish your desired tasks are right at your hand. In fact, it has similar features as local bitcoins. After creating an account on Paxful and being set to begin a trade, you need to select the cryptocurrency you want to trade and the amount paxful wallet. You will be provided with a list of all the sellers who meets your criteria along with a smaller list of popular vendors which Paxful review provides for being helpful.

To initiate negotiation with the vendor via Live Chat, press on ’Trade’. To provide customers with security from scammers, paxful review has an inbuilt escrow. After you click ‘Trade’, the Bitcoin being traded is transferred into escrow. The meaning of escrow is that paxful review takes the Bitcoin being traded from the seller and holds them for the buyer until the transaction is completed. After the Bitcoins are in escrow, the buyer can cancel the trade but the seller cannot cancel the trade.

The Bitcoins will be reverted back to the vendor’s wallet if the buyer cancels the trade. The buyer will finally click ‘Mark as Paid’ to close the trade if the trade proceeds so

successfully. The Bitcoins to the buyer will be released by the escrow then. It takes approximately 3 hours for Paxful to review Bitcoin transmit.

paxful review

Disadvantages of

As Paxful review acts as a peer-to-peer platform, there are risks that someone will try to cheat you. So, you need to be careful and never communicate with sellers via email, SMS, or any other way. protects you only when you contact other users through the messaging box.

Shimanto Neer
Shimanto Neer is the CEO of Dot Mirror, a company that helps other businesses get noticed online. We make SEO easy and are the go-to for marketing pros. We’re all about helping your business grow bigger. Enjoyed reading this? There’s more helpful stuff on our blog!