Paxful Bitcoin marketplace review 2019 | finder.com

Paxful money transfer review

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Paxful P2P Cryptocurrency Marketplace
Paxful P2P Cryptocurrency Marketplace
  • Buy bitcoin online
  • Sell bitcoin
  • Trade with secure escrow
  • Get a free wallet

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.

Product Name Paxful P2P Cryptocurrency Marketplace
Fiat Currencies AUD, USD, EUR, GBP, CAD, CNY & 50+ more
Cryptocurrencies BTC
Deposit Methods Cash
Credit card
Cryptocurrency
Debit card
Flexepin
iDEAL
Neosurf
Neteller
PayPal
Perfect Money
SWIFT
Western Union
Trading Fee Buyer: None
Seller: 1%
Deposit Fees None
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.

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 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.

Image source: Paxful

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8 Responses

  1. Default Gravatar
    LekanMarch 16, 2019

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

    • finder 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,
      Bella

  2. 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

    • finder Customer Care
      nikkiangcoDecember 19, 2018Staff

      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

  3. Default Gravatar
    OpeyemiSeptember 7, 2018

    I want to create an account.

    • finder 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.

      Regards,
      Jhezelyn

  4. Default Gravatar
    steveJanuary 4, 2018

    can I buy ripple on paxful.com?

    • finder Customer Care
      AshJanuary 6, 2018Staff

      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

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