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Paxful review 2023

Quickly buy and sell Bitcoin with this peer-to-peer marketplace.

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Paxful announcement

On April 4, 2023, Ray Youssef, the CEO of Paxful announced in a blog post that Paxful will be suspending its marketplace and that he isn't sure that it will come back.

Youssef highlighted the fact that The Paxful Wallet will be up for customers to retrieve their funds and urged users to send their funds on Paxful to a non-custodial wallet.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Our take on Paxful

Paxful is a peer-to-peer online marketplace that allows you to buy and sell Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) with anyone in the world.

One of the best things about Paxful is that it allows users to pay for their crypto purchases using their choice of more than 350+ payment methods. These methods range from more traditional options like bank or wire transfers to newer options like Apple Pay or PayPal.

Paxful operates in more than 100 countries and has served over 10 million people.

You may prefer to be a buyer on Paxful as opposed to a seller, as sellers have to cover all of the transfer fees on the platform.


Finder Rating


Paxful pros and cons


  • Enables peer-to-peer crypto trading
  • No fee for buying crypto
  • Hundreds of payment methods
  • Simple sign-up process
  • Quick delivery of assets
  • Learning center


  • Sellers set rates – it may be hard to find a seller offering the quantity of Bitcoin you want at your desired price
  • Fees when paying with gift cards are high

Paxful pros explained

  • Peer-to-peer trading. Paxful enables trading directly from one person to another. You have the option to use Paxful’s custodial wallet when you use the platform, but you can also have funds directly to a non-custodial wallet.
  • No fee for crypto purchases. You don’t pay a fee when you buy crypto via Paxful. You only pay a fee when you sell it.
  • Hundreds of payment methods. You can use everything from bank transfers and gift cards to altcoins to purchase Bitcoin (BTC), Ethereum (ETH) or Tether (USDT) via Paxful.
  • Simple sign-up process. Creating your account on Paxful is easy. You just have to input your email, create a username and password and agree to the terms and conditions.
  • Quick delivery of assets. After 2 confirmations on the Bitcoin network, your balance will be available in your Paxful wallet.
  • Learning center. You can learn more about Bitcoin and other digital assets at Paxful University.

Paxful cons explained

  • Sellers set rates. Sellers on Paxful set the rate at which they are willing to sell their BTC, ETH or USDT. This can make it difficult to find a seller offering the crypto you want at the right price.
  • High fees for paying with gift cards. When you pay for your crypto with a gift card via Paxful, the fees are between 4% and 5%.

About Paxful – company history and background

Paxful was established in 2015 in New York City. It currently has offices in Estonia, the UK, the Philippines, Dubai and St. Petersburg.

Paxful’s mission is to empower the four billion people on Earth who are either unbanked or underbanked.

Listed Paxful crypto exchange assets

Paxful supports over 3 cryptocurrencies, but some notable assets are missing. Namely, Avalanche, Binance USD and BNB, which are in the top 20 cryptos by market cap. In total, 4 of the top 20 cryptos are available on Paxful.

Popular assets on Paxful
Paxful does not support
Avalanche (AVAX)
Paxful does not support
Binance USD (BUSD)
Paxful supports
Bitcoin (BTC)
Paxful does not support
Paxful does not support
Cardano (ADA)
Paxful does not support
Cosmos Hub (ATOM)
Paxful does not support
Dai (DAI)
Paxful does not support
Dogecoin (DOGE)
Paxful supports
Ethereum (ETH)
Paxful does not support
LEO Token (LEO)
Paxful does not support
Lido Staked Ether (stETH)
Paxful does not support
Polkadot (DOT)
Paxful does not support
Polygon (MATIC)
Paxful does not support
Ripple (XRP)
Paxful does not support
Shiba Inu (SHIB)
Paxful does not support
Solana (SOL)
Paxful supports
Tether (USDT)
Paxful does not support
Paxful supports
Paxful does not support
Wrapped Bitcoin (WBTC)

Paxful fees

Since Paxos is a peer-to-peer marketplace, you don’t deposit or withdraw money from the platform.

Instead, you send money from one of the many funding sources Paxos supports directly to the person from whom you’d like to purchase BTC, ETH or USDT or vice versa.

Deposit methods
  • Bank transfer (ACH)
  • Bank transfer
  • Cryptocurrency
  • Debit card
  • PayPal
  • Wire transfer
  • Apple Pay
  • Google Pay

Paxful trading fees

As a buyer, you won’t pay a transfer fee. Sellers pay a transfer fee, which varies depending on the source of the transfer. See tables in the following section.

The seller will then decide how much more they want to charge, so be sure to compare sellers’ rates before initiating a transaction.

Cryptocurrency Trading Fees

Payment GroupSellBuy
Bank Transfer0.5%No fee
Other Bank Transfer1%No fee
Credit/Bank Card1%No fee
Digital Currency1%No fee
Online Wallet1%No fee
Cash1%No fee
Goods & Services1%No fee
Gift Card5% iTunes and Google Play cards

3% for all gift card types

No fee

Buying Cryptocurrency
When buying cryptocurrency from another user on Paxful, you are buying cryptocurrency at a rate set by the customers themselves. These rates vary based on numerous factors such as your verification status, payment method, currency pair (such as USD, EUR, CNY), and order size.

Selling Cryptocurrency
This escrow amount is deducted from your Paxful Wallet at the beginning of the trade. Upon successful completion of the trade, Paxful receives the escrow fee. If the trade is not completed, i.e. cryptocurrency is released from escrow back to the cryptocurrency seller, Paxful takes no fee.

Sending and Receiving Bitcoin

Wallet TypeSendReceive
External Wallet$0 – $9.99 = 0.00008 BTC fee;
$10 – $19.99 = 0.00016 BTC fee;
$20+ = 0.0004 BTC fee
No fee
Internal WalletUp to 1,000 USD per month for free (between all cryptocurrencies)

After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied

No fee

Sending and Receiving Tether (USDT)

Wallet TypeSendReceive
External WalletDynamic Ethereum or Tron network fee + Paxful Wallet fee

Paxful Wallet fee breakdown:

$0 – $9.99 = 1 USDT fee
$10 – $19.99 = 2 USDT fee
$20+ = 5 USDT fee

No fee
Internal WalletUp to 1,000 USD per month for free (between all cryptocurrencies)

After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied

No fee

When you send TRC-20 based USDT from your Paxful wallet, you won’t pay a Tron network fee, but you will pay the Paxful wallet fee.

Sending and Receiving Ethereum (ETH)

Wallet TypeSendReceive
External WalletDynamic Ethereum network fee + Paxful Wallet fee

Paxful Wallet fee breakdown:

$0 – $9.99 = 0.0005 ETH fee
$10 – $19.99 = 0.001 ETH fee
$20+ = 0.002 ETH fee

No fee
Internal WalletUp to 1,000 USD per month for free (between all cryptocurrencies)

After 1,000 USD is reached, a fee of 1 USD or 1% of the amount being sent, whichever is greater, is applied

No fee

Lightning Network

Wallet TypeSendReceive
External Wallet1% of the amount being sentNo fee

Converting Cryptocurrency

Conversion TypeFee
All cryptocurrency conversions0.5%

How to sign up on Paxful

Buying digital assets via Paxful is a simple process.
  1. Get started
    Create an account and instantly receive a free e-wallet from Paxful.
  2. Set up payment
    Enter how much you want to spend and choose your payment method.
  3. Compare rates
    Compare sellers' rates and choose a sender.
  4. Start trading
    Initiate a live chat with that seller to agree on terms and complete transfer.

About the Paxful app

The Paxful app is available for both Android and iOS operating systems.

Is Paxful safe?

Yes, Paxful is safe. Paxful is regulated in the United States as a Money Service Business with the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN).

You must complete a Know Your Customer (KYC) process to use Paxful. The brokerage’s Anti-Money Laundering (AML) policies and procedures are designed to deter illicit activity on the platform.

The platform’s escrow system is designed to protect buyers and sellers, and its crypto wallet is provided by BitGo, a platform that helps over 150 crypto brokerages and exchanges custody the assets stored on their platforms in cold storage. Paxful also offers 2-factor authentication (2FA).

Keeping your crypto secure

All centralized exchanges, including Paxful, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

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Go to site

Supported assets


Supported assets


Price (USD)


Price (USD)


Paxful customer support

Paxful offers email and 24/7 chat bot support.

Downloads on Google Play23.5k reviews, 3 stars, 1M+ downloads
Downloads on Apple Store2.6k reviews, 3.6 stars

How to reach Paxful

  • Email
  • Facebook page
  • Live chat
  • Telegram
  • Twitter

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12 Responses

    Default Gravatar
    CodedtoneFebruary 20, 2020

    How much do I need to start trading on Paxful

      Default Gravatar
      nikkiangcoFebruary 20, 2020

      Hi Codedtone,

      Thanks for your comment and I hope you are doing well.

      Currently, Paxful sets the minimum exchange amount to 0.001 to BTC. You can start buying or selling as small as 0.001 BTC in the peer-to-peer exchange. Note that BItcoin’s market prices changes frequently, thus you may need to check the market price of Bitcoin often. To begin using Paxful, you’ll need to create a free account and gain access to your free e-wallet. When you’re ready to buy bitcoin, simply enter the amount that you’d like to spend, choose your payment method and then select a seller. Once you’ve selected your seller, you can initiate a live chat with them.

      This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering.

      It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision.

      Hope this helps and feel free to reach out to us again for further assistance.


    Default Gravatar
    ClaraJune 10, 2019

    Can I sell my gift card here?

      Avatarfinder Customer Care
      JeniJune 10, 2019Staff

      Hi Clara,

      Thank you for getting in touch with Finder.

      You may do that by simply making an offer on Paxful’s exchange to sell your Gift Card and wait for a Bitcoin seller to accept your offer for the price.

      I hope this helps.

      Thank you and have a wonderful day!


    Default Gravatar
    LekanMarch 16, 2019

    Please I will like to know how to use my Apple pay to buy bitcoins from paxful..

      Avatarfinder Customer Care
      BellaMarch 16, 2019Staff

      Hi Lekan,

      Thanks for your inquiry.

      Buying bitcoin is Paxful using Apple pay is simple and fast:

      1. Create an account and instantly receive a free e-wallet from Paxful.

      2. Enter how much you would like to spend, and choose your payment method.

      3. Compare seller rates and choose a sender.

      4. Initiate a live chat with that seller to agree on terms and complete your purchase.

      I hope this helps!

      Kind regards,

    Default Gravatar
    HabeebDecember 17, 2018

    How can I put my username….I just wanted to join..I have create my gmail ,the password, I have correct the captcha so am only having problem with username alone maybe you can sight an examples for me

      Default Gravatar
      nikkiangcoDecember 19, 2018

      Hi Habeeb,

      Thanks for getting in touch! A username and password is very private information that only you should know and access. Think of a name that is unique that no other person can predict therefor we cannot assign a sample for you. Hope this clarifies!


    Default Gravatar
    OpeyemiSeptember 7, 2018

    I want to create an account.

      Avatarfinder Customer Care
      JhezelynSeptember 7, 2018Staff

      Hello Opeyemi,

      Thank you for your comment.

      To create a Paxful account, just go to their website and click Create Account located on the upper right side of the screen. When you successfully create a Paxful account, you’ll automatically get a Free Bitcoin wallet.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


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