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Paxful Bitcoin marketplace review

Gabrielle Pastorek
Gabrielle Pastorek
Last updated:  

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

While it’s more difficult to mine for Bitcoin these days, cryptocurrencies are gaining acceptance for even everyday purchases. Paxful helps to connect buyers and sellers to easily exchange Bitcoin, accepting more than 300 different payment methods. For businesses, Paxful provides a quick and easy way for online shoppers to pay using Bitcoin.

158

Fiat currencies

1

Cryptocurrencies

Details

Product Name Paxful P2P Cryptocurrency Marketplace
Fiat Currencies DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more
Cryptocurrencies BTC
Deposit Methods Cash
Credit card
Cryptocurrency
PayPal
Western Union
Trading Fee Buyer: None
Seller: 0.1%
Deposit Fees 0.5%
Withdrawal Fees None

Pros

  • Easily and quickly buy and sell bitcoin online.
  • Accepts hundreds of payments that include cash and cards
  • Buyers pay no transaction fees, while sellers pay 1%.
  • Offers the potential for extra cash as Pay with Paxful affiliate.

Cons

  • Exchange rates vary by seller — sometimes wildly.
  • Sellers set maximum and minimum amounts.
  • Delivery speeds depend largely on a seller's response time.
  • Potential for scammers, so you must be vigilant.
Disclaimer: 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.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more
  • Supported cryptocurrencies: 1 cryptocurrencies
  • BTC

What is Paxful?

Paxful is a peer-to-peer online marketplace that allows you to buy and sell Bitcoin with anyone in the world. One of the best things about Paxful is that it allows users to pay for their Bitcoin purchase using their choice of more than 300 payment methods. Options include gift cards and Apple Pay, as well as more traditional methods like your debit card, cash or online wallet.

Details

  • Minimum transfers. $10 minimum, but may vary by seller.
  • Maximum transfers. Varies by seller.
  • Transfer methods. Credit or debit card, bank transfers, third-party transfers and 300+ other methods.
  • Transfer options. Delivery to Paxful e-wallet.
  • Delivery speed. Minutes or longer, depending on payment method and seller’s response.
  • Available currencies. 100+ currencies.
  • Fees. No fee for buyers; 1% of transaction for sellers.
  • Exchange rates. Bitcoin exchange rates fluctuate more dramatically than other currencies. Paxful updates its rates online.
  • Customer service. Email and 24/7 live chat support on the Paxful website.

How much will I pay with Paxful?

As a buyer, you won’t pay a transfer fee. Sellers, however, pay a fee equal to 0.1% of the transaction amount.

A bigger cost you’ll need to pay attention to is the exchange rate. Bitcoin is a decentralized currency, but it’s still affected by government regulation and other market trends. On Paxful, sellers define their own prices at slightly higher than the exchange rate for the speed and convenience of its transfers.

Exchange rates also vary by the transfer service you choose. For example, if the mid-market rate is 1 USD = 1,049.20 BTC, Paxful might offer an exchange rate of 1 USD = 1,037.15 BTC. The seller will then decide how much more they want to charge, so be sure to compare sellers’ rates before initiating a transaction.

Available countries

Paxful operates in more than 100 countries, giving you lots of options when it comes to currencies that you can trade for Bitcoin.

What types of transfer does Paxful support?

Because Bitcoin is a digital currency, all transfers are delivered into your Paxful e-wallet.

To buy Bitcoin, you can use one of more than 300 payments options that include:

  • Bank transfers
  • Cash deposits
  • Debit or credit cards
  • Gift cards
  • E-wallet balances
  • PayPal
  • Money transfer services like Western Union and MoneyGram

Visit Paxful’s website to see a full list of payment methods that sellers can choose to accept.

Benefits and drawbacks

Benefits

  • It’s easy to use. Both buyers and sellers enjoy a quick and simple process.
  • Hundreds of payment methods. Pay with cash, debit or credit cards, your bank account, gift cards, Apple Pay and more.
  • Speedy transfer deliveries. In most cases, your Bitcoin shows up in your e-wallet instantly.
  • No buyer fee. Though Paxful does charge sellers a 1% fee on the transaction.

Drawbacks

  • Sellers choose the exchange rates they want to offer. Compare sellers’ rates before choosing the best deal for you.

How do I buy Bitcoin through Paxful?

Buying Bitcoin is a simple process with Paxful:

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

Paxful money transfer screenshot

  1. Enter how much you want to spend and choose your payment method.
  2. Compare sellers’ rates and choose a sender.
  3. Initiate a live chat with that seller to agree on terms and complete transfer.

Bottom line

Paxful can be a convenient option to help you buy and sell Bitcoin, but the value of Bitcoin can be somewhat volatile. Compare exchange rates, transfer speeds and fees with other Bitcoin exchange services like LocalBitcoins, CEX.IO and Cryptonit.

Frequently asked questions

Disclaimer: 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. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.

12 Comments

  1. Default Gravatar
    Codedtone
    February 20, 2020

    How much do I need to start trading on Paxful

    Reply
    • Avatarfinder Customer Care
      nikkiangco
      February 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.

      Best,
      Nikki

      Reply
  2. Default Gravatar
    Clara
    June 10, 2019

    Can I sell my gift card here?

    Reply
    • Avatarfinder Customer Care
      Jeni
      June 10, 2019

      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!

      Cheers,
      Jeni

      Reply
  3. Default Gravatar
    Lekan
    March 16, 2019

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

    Reply
    • Default Gravatar
      Bella
      March 16, 2019

      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,
      Bella

      Reply
  4. Default Gravatar
    Habeeb
    December 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

    Reply
    • Avatarfinder Customer Care
      nikkiangco
      December 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!

      Best,
      Nikki

      Reply
  5. Default Gravatar
    Opeyemi
    September 7, 2018

    I want to create an account.

    Reply
    • Avatarfinder Customer Care
      Jhez
      September 7, 2018

      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.

      Regards,
      Jhezelyn

      Reply
  6. Default Gravatar
    steve
    January 4, 2018

    can I buy ripple on paxful.com?

    Reply
    • Avatarfinder Customer Care
      Ash
      January 6, 2018

      Hi Steve,

      Thank you for reaching out to us.

      Please be advised that Paxful is an online marketplace that allows you to buy and sell bitcoin to anyone in the world. If you want to purchase Ripple, you may purchase Bitcoins in Paxful first then use it to purchase Ripple in the exchanges available at this page.

      I hope this helps.

      Let us know if there is anything else that we may assist you with.

      Cheers,
      Ash

      Reply
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