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Paxful Review 2026

Written By

Tobias Robinson

Written By

Tobias Robinson

Tobias is the CEO of DayTrading.com, an active investor, and a brokerage expert. He has over 30 years of experience in financial services, including supervising the reviews of more than 500 trading brokers, and contributing via CySEC to the regulatory response to digital options and CFD trading in Europe. Tobias' expertise make him a trusted voice in the industry, where he's been quoted in various financial organizations and outlets, including the Nasdaq.

» Tobias Robinson Profile Page

Fact Checked By

William Berg

Fact Checked By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Updated

Feb 6, 2026

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Available in United States

Paxful is #86 in our crypto broker rankings.

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Customer Reviews

Minimum Deposit 0.005 BTC

Trading Platforms Own

Instruments Cryptos

Regulators

Account Currencies USD, EUR, GBP

Payment Options Bitcoin Payments, Wire Transfer, Credit Card, Mastercard, Visa, PayPal, Skrill, Neteller, Debit Card, Google Pay, Ethereum Payments, American Express, Przelewy24

Paxful was a peer-to-peer cryptocurrency exchange and digital wallet provider. Customers could buy and sell cryptos using 350+ payment methods. However, it closed down in November 2025 after turmoil amongst co-founders and mounting compliance costs.

Our review below is provided for historical purposes. It covers how you could open a Paxful wallet, the account login process, minimum deposit requirements, sending fees, and more.

About Paxful

Paxful was founded in 2015 (originally EasyBitz). The company had 6+ million users at one point and employed 400+ individuals, with global offices in Hong Kong, Estonia, and the Philippines. It was headquarters are located in the New York City (NYC) office, USA.

Its users also spanned the world, with Paxful traders found everywhere from Pakistan and Malaysia to the UAE, India, Zimbabwe, and Indonesia.

The vision of the founder and CEO was to create a world where finance was accessible to all, with cryptos connecting the dots.

The company’s charitable initiative #BuiltwithBitcoin was launched in 2017, supporting philanthropy projects in countries including Ghana, Nigeria, Kenya, Rwanda, and Uganda.

Coins & Tokens

Users could buy Bitcoin (BTC), Tether (USDT), and Ethereum (ETH) at Paxful. No other digital currencies were available to purchase.

This means the cryptocurrency trading platform was fairly limited vs competitors like Coinbase. However, when comparing Paxful vs LocalBitcoins, Paxful had more options. Minimum limits for BTC transactions apply.

Over 350 payment methods could be used to buy and sell Bitcoin, Tether, and Ethereum, including Ripple (XRP), Monero (XMR), and Dogecoin (DOGE).

Wallet

The Paxful Inc wallet was a free and convenient way to manage cryptocurrencies or access the P2P marketplace to buy and sell Bitcoin. The wallet was available for download to PC, mobile devices, or via API trading.

Users benefited from 0% commission fees, cloud backup protection, and stringent security measures. Online wallet services were maintained by BitGo.

Opening an Account

Clients needed to meet mandatory registration requirements to open a live account, including ID verification for specific territories. Customers from North Korea and Cuba could not open a Paxful account. However, day traders from Zambia, London, Jordan, and many other countries and cities could access services.

Additionally, should you have reached volume or wallet activity limits, you may have needed to complete additional KYC identity checks, including video verification and answering security questions.

Requirement limits by verification level were:

• Level 0 – No verification needed. $0 per trade and lifetime limit
• Level 1 – Phone. $1,000 per trade and lifetime limit
• Level 2 – Email and ID. $10,000 per trade and lifetime limit
• Level 3 – Address. $50,000 per trade. Unlimited lifetime limit
• Level 4 – Enhanced due diligence. $50,000+ per trade. Unlimited lifetime limit

Paxful reserved the right to cancel a trade or delete an account with a one-time withdrawal. This may have occured if terms of service were violated or if you were in a blocked jurisdiction when you logged in. The company also used a QR code feature for easy wallet address sharing to make trading efficient.

Mobile App

Paxful offered a Bitcoin wallet app available to download to iOS and Android (APK) devices. The application provided secure sign-in access to the cryptocurrency marketplace. Other features included:

• Real-time balance
• Personalize your profile
• View the status of recent transactions
• Access updated crypto to fiat conversion rates
• Receive notifications of trader requests, chats, or any other account activity
• Send, receive and store crypto coins in your mobile wallet, anytime and anywhere

Deposits & Withdrawals

The exchange did not charge a deposit fee. The platform supports 350+ payment methods for account funding. This is a significantly higher offering when compared to Coinbase.

Payment methods included:

• Bank transfer – Domestic and international
• Digital currencies – Including Litecoin and Dogecoin
• Goods & services – Including gold, cars, and game items
• Gift cards – Including Amazon, Google Play, and Xbox gift cards
• Debit/credit card – Including Greendot, American Express, and VISA
• Online wallets – Buy Bitcoin with PayPal, Zelle, Google Pay, MPesa, and mobile recharge

Paxful wallets were free, but withdrawal fees were charged. Users could remove Bitcoins from internal and external cryptocurrency wallets. External wallet transfers were subject to fees depending on the withdrawal size. Withdrawals of $20+ incur a 0.0004 BTC charge. Internal wallet withdrawals incurred fees based on associated limits. Withdrawals up to $1,000 per month incurred no charge. After this, a fee of $1 or 1% (whichever is higher) applied.

Buying Bitcoin

To start buying and trading Bitcoin you had to:

1. Sign up for a Paxful account and login
2. Select the buy logo and click Bitcoin
3. Click show all payment methods and select a deposit solution
4. Click any currency and select your currency from the list
5. Enter the amount you want to buy and trade
6. Select your country from the location list
7. Click search for offers and select as desired
8. Confirm the transaction

Rates & Margin

The broker and exchange offered a market price for Bitcoin taking an average rate from Coinbase, Bitstamp, and Bitfinex, though vendors could list an exchange price of their own. You could view the amount you could get for US Dollars under the rate per Bitcoin section of the ‘buy’ page.

Margin was set by the vendors. Paxful regarded it as a seller fee rather than traditional leveraged trading, and it could vary from 5% to 50%. Investors could review the terms and conditions set by the vendor before accepting an offer or find an alternative that meets pricing expectations.

Speed

Platform speeds to send or buy Bitcoin could vary. Influencing factors included the seller’s availability, specific owner terms and conditions, and payment methods. To improve transaction speeds or to limit the queued to send out time, it was worth contacting the seller directly via their online username to understand particular requirements.

Once Bitcoin was sent, you would receive a notification via Paxful stating confirmed or unconfirmed BTC.

Fees

Cryptocurrency conversions were subject to a 0.5% fee. The broker did not charge to buy cryptocurrency, but an exchange fee was set by other customers and account owners offering Bitcoin purchases.

Transfer fees applied to sell crypto coins, varying by payment method. Bank transfers incurred the lowest charge at 0.5%. Alternative methods, including debit cards, digital currencies, and online wallets were subject to a 1% fee. The gift card rate incurred the highest rate for selling crypto at 5%. An escrow network fee was deducted from a vendor’s wallet immediately and delivered to Paxful upon completion of a trade.

You could use the Bitcoin fee calculator to understand the worth of your crypto in fiat currencies using live exchange rates.

Pros

Reasons to start trading cryptos with Paxful include:

• No commission fees
• Secure escrow trading
• Positive wallet reviews
• Mobile app with full account features
• Hundreds of supported payment methods
• Supported charitable initiatives with Bitcoin
• Select crypto venders suited to specific requirements and pricing

Cons

Downsides to registering for a Paxful account include:

• Unregulated exchange
• Only three crypto assets
• Limited customer support options
• Services restricted in some countries

Customer Support

Customer support was limited. An online contact form and a live chat bot were available via the logo in the bottom right corner of the Paxful website, or on the mobile app. A contact phone number was not provided. The exchange’s office mailing address is 3422 Old Capitol Trail PMB# 989, Wilmington DE, 19808, USA.

The support email addresses were help@paxful.com and help@paxful.zendesk.com. However, we had to dig for the contact details. This information wasn’t readily available to its users, not even through a third-party research website like CrunchBase.

Paxful also offered an extensive FAQ page and help center (knowledge base). Topics included how to create a Paxful account, ID verification, how to buy Bitcoin, plus English and global language settings. Social media platforms including X also provided the latest news and help.

Security

Peer-to-peer transactions may lead to an unfair trading environment. Some online concerns queried whether Paxful is real or fake, and flagged related PayPal scams. Our recommendation to ensure legitimate trading was to keep transactions within the marketplace to maintain dispute and escrow protection. This could help reduce the risk of scams.

The Paxful BitGo wallet service provider assured high-tech features to protect client funds. This included 2FA for account login, 3d secure payments integration, and dual-factor code requirements for all crypto transactions.

Paxful Verdict

Paxful was a unique peer-to-peer crypto marketplace and wallet service. Our review was pleased to see the exchange supported 350+ payment methods, secure logins, and crypto vendor opportunities. Limited customer support and unregulated services should be a concern for many investors though. Also, you had to beware of high vendor fees and the narrow range of digital currencies available for trading.

FAQ

Is Paxful A Good Wallet?

Over 3 million customers had used the Paxful wallet to buy and sell over 40,000 BTC. The wallet was practical and easy to use on PC and mobile devices.

What Is A Paxful Account And Can I Sign Up Without ID?

Paxful was a P2P cryptocurrency trading platform and Bitcoin wallet. You could create an account quickly after you’ve completed the ID verify requirements. A business account was available, subject to eligibility criteria.

Is Paxful A Regulated Exchange?

Paxful was not regulated in any country. KYC and anti-money laundering standards were in place, meaning some of the verification standards seen at regulated exchanges may have been followed.

How Can I Become A Paxful Vendor?

Clients needed to create a vendor account on the exchange’s website. New users could join over 12,000 registered vendors to create offers, set margins, and build unique customer offerings.

Does Paxful Have A Minimum Age Requirement To Open An Account?

You had to be at least 18 years old to open an account to buy and sell cryptocurrency with Paxful.

How Do I Start A Dispute On Paxful?

Paxful interveneed in any disputes via a third-party moderator. The system provided through the exchange helped ensure quick and efficient resolutions.

Who Is QuickDeal?

QuickDeal was one of the most popular users on Paxful. They had a trading volume of 1000+ BTC.

Best Alternatives to Paxful

Compare Paxful with the best similar brokers that accept traders from your location.

1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
2. Dukascopy – Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
   Go to Dukascopy

Paxful Comparison Table

Compare Trading Instruments

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