Paxful Review: 5 Benefits To Know In 2017

  • 11 September 2017
  • James Njau

Those folks that started Bitcoin trading a few years ago can attest to the hurdles that one had to go through before making a substantial profit. It wasn’t easy! You had to go through unreliable brokers and probably even get scammed along the way. But fortunately the world is changing, and we are seeing dedicated companies come up to help people make a living off Bitcoin trading.

Image result for paxful logo

When it comes to listing top brands in the world of Bitcoin trading, you just can’t omit Paxful as one of the top names in the industry. It has created a Bitcoin market that works on a peer to peer basis to offer and maintain a safe and secure way for people to trade cryptocurrency online.

Ray Youssef – CEO of Paxful

Together with a team of skilled financial as well as IT experts, Paxful’s CEO Ray Youssef has managed to leverage the collective professional experience of the company to build revolutionary solutions that take advantage of escrow services. Simply put, it has created a reliable link between buyers and sellers of Bitcoin and with over 1289 vendors and 55,125 happy customers.

Currently, Paxful has managed to trade over 40,000 Bitcoins making it one of the biggest peer-to-peer Bitcoin markets available. It makes it easy for vendors to earn an income while buyers get what they want without too much stress, which is all that we want, right? Well, there’s more! What gives it an edge is its simple, easy and straight forward interface that customers just love, not to mention the professional customer service that keeps everyone on the platform satisfied.

Here’s what Paxful has in store for you:

Top 5 Paxful benefits

1. Easy to use

Judging from the reviews of real users, it's clear that Paxful is one of the simplest cryptocurrency markets you will find out there. It features a straight forward interface to get started. Actually, all you have to do is log into the site and start buying or selling Bitcoins!

2. Fast transactions

The biggest problem that many Bitcoin traders face is the fact that there can be delays when withdrawing their Bitcoin. Fortunately, Paxful features 24 hours 7 days a week service that keeps its platform open to everyone at all times, while delivering fast and reliable transactions.

3. Beginner friendly

The one thing that most newbies trying to get into the Bitcoin space will love about Paxful is the fact that it conducts painless transactions with a verification process that anyone can follow easily. It is designed to also be affordable owing to the fact that the buyers don't pay any transactions fees.

4. Global Access

The world is literally turning into a global village when it comes to business and Paxful is making this a reality by allowing anyone from any country across the globe to trade Bitcoins on its platform. Whether you are from the US, UK, Australia or any other country, you can take advantage of the features the company offer and make a living off Bitcoin trading. This is unlike most platforms out there since most restrict their access to certain countries.

5. An active support forum

Support Forum – Paxful

Let's face it; with over 56,000 users on its platform, there is no doubt that Paxful has one of the richest support forums. Besides, its friendly customer service is a plus to anyone who is about to start trading Bitcoins and needs guidance.

Top 10 questions about Paxful

1. How does it work?

By now everyone is catching up to the fact that Bitcoin is a great way to make payments without the need of a third party. Paxful models the same revolutionary idea of freedom to the masses, using a P2P system to enable anyone to buy and sell across the planet.  The platform allows you to exchange your gift cards for bitcoins or even change your coins back to cash to pay your bills. It all depends on how you want it! The best part is that most of its payment methods are private therefore simplifying the verification process. To put it simply, it’s a digital wallet with thousands of possibilities.

2. How do I buy my Bitcoins?

Well, it's all pretty simple. First of all, you get a free Paxful wallet when you sign up for an account. This allows you to browse through the list of people selling their bitcoins for the best offers. Once you identify a seller that you like, you are free to click the “Buy” button and enter how many bitcoins you want. There are a couple of simple instructions to follow on how to add money to your account but ultimately, remember to click on the “I HAVE PAID BUTTON” when you are done. It's that simple!

3. How many Bitcoins do I get for “X” amount of money?

First of all, you have to understand that Bitcoin’s exchange rates are constantly fluctuating. As a result, the amount of bitcoins you get in your wallet will depend on a couple of variables. The vendor you choose to buy from will also determine your Bitcoin amount. Paxful is not a 1 to 1 transaction and since the sellers have to make a profit, they are free to add either a 5% fee or a 50% fee.  

4. Is there a way to know how much I will get?

Well, of course, there is! And even though it's a free trade platform with each vendor having their own price, Paxful has a simple and easy-t- use interface that anyone can use to determine the general price. All you have to do is to insert the amount you wish to use to buy Bitcoins and the calculator on the site will indicate to you the average amount of Bitcoins to expect from the vendors with all factors considered. Amazing right?

5. Is it Secure?

Yes! Paxful uses well-guarded servers that match up to high banking specifications. With a 2-factor authentication process, including Google Authenticator as well as SMS and Authy, you can be sure that your digital currency is well protected. Remember to also come up with a good password to boost your protection.

6. What is an Escrow?

Well, trust is very important when it comes to making online transactions and an escrow service is what you need to protect yourself from scammers that only want to take your money. When you deposit your money either through PayPal, credit card or any other form of payment, the escrow service keeps your payment safe by placing the money in an independent third party account. It is only when the trade is successful that the funds are released to your seller. It actually works like a safety net that keeps you protected while trading with anyone online.

7. How does the Paxful escrow work?

Paxful operates as a peer to peer online marketplace where vendors can create offers and buyers can buy as they please. When you buy your Bitcoins, you trigger an automatic transfer of the bitcoins to go to the escrow account to be held until the transaction is complete. The money is only released to your seller after both the seller and the buyer confirm the success of the transaction. In case of a dispute, Paxful’s moderators will work to solve the issue.

8. What payment method can I use to buy Bitcoins on Paxful?

Paxful offers a variety of payment methods that you can use by simply typing in the method that you prefer in the search box. Some examples include:

  • Using Paypal
  • You can use Cash deposit
  • You can also buy Bitcoins with iTunes gift card
  • Or you can use an online wallet such as NetTeller or Skrill
Payment methods – Paxful

9. How can I be a vendor on Paxful?

It's easy to start selling your bitcoins on Paxful.  Once you have registered, all you need is to create an offer on, fill in all the necessary details to entice your buyers and fund your wallet. When the trade begins, your funds will automatically be moved to the escrow service and you will get paid as soon as you and the buyer confirm the trade. Quite easily done right?

10. How will I receive the Bitcoins I’ve bought?

First of all, to receive bitcoins you need to get a bitcoin wallet that comes with every bitcoin address. It is more like an email account that you give to the person paying you so that they can deposit the Bitcoins to your wallet. How do you create a bitcoin address? Again there this is an easy process; on Paxful’s website, you can generate one by clicking on the “Generate new bitcoin address” button.

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