Paxful Review

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Overview
Good

Attracts low processing fees and comes forth with myriad payment schemes. This online platform boasts of an intuitive yet simple user interface.

Bad

Customer support services are on the slower side as noted by several users.

Overall

Paxful is one reliable network of Bitcoin sellers and buyers that allows customers to trade seamlessly without depending on exchanges and currency lenders.

Detailed Review

In simpler words, Paxful is one peer-to-peer Bitcoin trading arena with global visibility. The platform offers completely legit way to exchange crypto currencies and transactions are initiated at a faster rate as compared to some of the other service providers.

Purchasing Bitcoins via Paxful

When it comes to buying virtual currency, this online platform offers a simple yet bankable layout. Customers can select the number of Bitcoins to be purchased and then zero in on the preferred fiat currency mode of exchange. Once the payment method is selected, the process initiates rather quickly. Users can go through the complete list of sellers and trade accordingly. Moreover, this platform allows peers to chat with each other, further simplifying the process.

Instant Trading

Trading over Paxful is easy, fast and completely safe. While the purchase speed depends on seller’s discretion, the preferred payment modes which are faster than other include gift cards and PayPal. Customers can also opt for union cash and bank deposits followed by the likes of MoneyGram, Western Union and a host of other avenues. Regardless of the payment method, most transactions conclude within an hour.

Buyers get the Upper Hand

Once the trade is initiated, the concerned virtual currency is readily transferred to Paxful’s highly secured escrow from the seller’s account. After this, the concerned seller cannot cancel the trade and it’s the buyer who gets to call the shots. The buyer can either mark the payment method and proceed or cancel the purchase at any point of time. If cancelled, the Bitcoins head back to the seller’s wallet. This online platform also auto-cancels select trades, in case of indefinite delays. Overall, this P2P Bitcoin broker is empathic towards the customers and offers a host of functional choices to them.

Minimal Transaction Fees

When it comes to the transaction fees, this platform is probably the best one to get Bitcoins from. Be it a smaller transaction or something sizeable, Paxful doesn’t take anything from the buyer in the name of processing fees. Instead it levies a minimum charge of 1 percent from the concerned seller which is usually camouflaged by them as the ongoing exchange rate. That said, the overhead costs are negligible and do not burn a hole in anyone’s pocket.

Credibility and Security

While is good to approach random sellers with skepticism, Paxful is one safe Bitcoin broker with reliable options to work with. Firstly, this platform doesn’t entertain any form of scam or fraudulency. Moreover, there is an active support system associated with this P2P broker, allowing customers to address the grievances and know more about the existing platform. Apart from that, buyers also get guidance regarding safe purchases.

Interactive Layout

In terms of customer experience and responsiveness, nothing beats this online Bitcoin broker. The interface is minimalistic and offers a decent distribution of utilitarian menu option. Most importantly, the ‘Help’ Menu has been beefed up for better visibility. In addition to all that, customers get the Live Chat flexibility where customer-care representatives answer queries and guide them towards making better purchases. Although the chat-based replies can take a while to arrive, the solutions are completely worth the wait.

Customer Protection

Paxful offers a 2-step authentication system for protecting customer funds. SMS verification can also be enabled by the buyers. Two-factor authentication is applicable on all active logins and can simultaneously look over 20 transactions for a single account. Moreover, this service provider has joined hands with BitGo for securing the featured hot wallet via multi-sig. Lastly; the existing interface is highly credible and keeps scams and illegitimacies at bay.

Bottom-Line

This is one functional P2P vendor sans stringent verification laws and higher processing fees. Customers can make seamless purchases over this platform without having to worry about security and privacy. Overall, Paxful is loyal to the customer requirements and delivers as promised.

Top Features

General

  • Instant Bitcoin Purchase
  • Peer-to-peer Bitcoin Marketplace
  • Multiple Payment Options
  • Easy Bitcoin Purchase
  • Two-factor Authentication
  • Escrow Service
  • Cash Deposits Purchase
  • Instant Gift Cards
  • Online Bitcoin Transfer
  • Minimal Transaction Fees
Pricing
Merchant Price
Official Website $0.00
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