The Review of Paxful Crypto Exchange
What is Paxful crypto exchange? It is a P2P Bitcoin buying and selling site. Users can trade Bitcoin for fiat or vice versa from anywhere in the world. It is easy to set up an account on the site. Users provide an e-mail address to register on the site. Users can also verify their mobile phone number and activate SMS notifications. Find a review of Paxful crypto exchange to learn more.
How Selling Works on Paxful?
Vendors can offer a minimum of 0.001BTC, which is the minimum that the site allows. The site charges sellers a 1% fee. It takes the fee automatically from the user’s wallet. Users can apply to become a verified vendor once they reach 50 trades with over 20 different partners and the users need to have a success score of more than 33%.
How Buying Works on Paxful?
Paxful offers a variety of payment methods and it accepts any currency. Some of their payment methods include; gift cards and cash deposits, debit or credit cards, and bank transfers. Users can only sell Bitcoin, even though Paxful is open to buying with any currency. There are no fees for buyers.
How Paxful Protects Its Users?
Paxful encourages its users to use Google Authenticator to set up 2-factor authentication and to enable Authy and SMS verification to further protect their accounts. The seller sent the Bitcoin to an escrow during a trade. Then, the seller manually releases the Bitcoin once he confirms the payment from the buyer.
Pros of Paxful Crypto Exchange
It has low fees
It offers various payment methods and accepts almost all currencies
It is easy to join and trade
It is easy to buy and sell Bitcoin on Paxful. It accepts users from almost every part of the world. And it is easy to find reputable sellers and buyers on the site, so you do not have to worry about getting scammed.