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5 Steps to buy cryptocurrencies quickly and safely

  • Visit our recommended platform to buy crypto by clicking the button at the bottom of this section.
  • Enter the details in the required fields to create a new free account.
  • Add funds to your account using your preferred payment method and confirm your new balance.
  • Choose your favorite cryptocurrency and select a “market / instant order” to make a quick purchase.
  • Enter the amount to buy (you will see the equivalent in crypto) and confirm your order!

What is Paxful?

It is an Exchange that brings investors closer, so that they sell or buy their bitcoins in a way of interaction that makes them very good deals for both parties and Paxful acts as an intermediary for each to ensure the operation. At Paxful you buy bitcoin directly from other people. It is a listing service like Craigslist or Airbnb. Sellers list their ads to sell you bitcoin for a certain price and to get paid in a certain way.

Once you find the deal you like, start a deal with the seller. You will be in a live chat with them and they will tell you how to pay them, then once you pay they release the bitcoins directly from your escrow to your Paxful wallet. Now you can spend them anywhere.

One of the best things about Paxful is that it allows users to pay for their bitcoin purchase using over 300 payment methods including gift cards, Apple Pay, Facebook Messenger, and more traditional methods like their debit card, cash, or wallet at line.

Paxful account registration and verification

First, you have to have a registration account. That said, we entered their website to register, it is worth mentioning that Paxful has one of the simplest registrations among all the exchanges. To create a new account, simply visit the Paxful website, select “Create Account” .

Later you only have to fill out a registration form, where you will have to put the requested information: Email, username, password and validate that you are not a robot. Once this information is entered, we click on «Create Account & free wallet»  to create our registry.

After that, you will automatically go to your created user profile. That’s how easy it is to create an account on Paxful. Two-factor checkDuring the last two years, many exchanges have incorporated a very good security measure, which is the double factor of authentication.

It is an extra security measure that frequently requires a code obtained from an application, or an SMS message, as well as a password to access the service.

For PC users, who are tired of having to memorize a dozen passwords, this seems like the last thing they need, but double-factor authentication can be the difference between being a victim of a cybercriminal and staying protected. This requires downloading an application called google authenticator to validate if you are the user of the account. The program sends you a different code every 5 minutes.

In this Exchange you can configure this in your user, selecting“Control Panel” and then select “security”, with which you put the highest security to your account and personal wallet on this platform.

Deposit of funds

To be deposits in our account there are many accepted means.

Payment methods accepted on Paxful

It is possible to buy bitcoins in many ways. Anything that someone accepts in exchange for bitcoins is a payment method. We allow members around the world to create their own payment methods that can be requested, to provide more payment details with a simplified approach. You can buy Bitcoin with Credit or Debit Cards, paypal, local bank transfers, skrill, gift cards and a wide variety of options; There are endless combinations! I leave you an image of more payment options:

Minimum deposit at Paxful

In Fiat currency, only a minimum deposit of $ 100 USD or its equivalent is allowed in each selected currency. In the case of making a deposit in Bitcoin, at least 2 Bitcoin is accepted  . Only the sender pays bitcoin network miner fees. If you send 1 bitcoin to an external address, they get 1 bitcoin and deduct the bitcoin network miner commission from their remaining balance.

Minimum amount of operations in Paxful

You can buy a minimum value of $ 10 USD . Sellers also have limits. These are called trading ranges. For instance. A seller may be willing to sell $ 100- $ 1000 worth of bitcoin. If a single bitcoin costs $ 300 , then you must buy a minimum of 1/3 of a bitcoin from that seller. Check your rank according to your account.

Advantages and disadvantages of Paxful

Advantages There are users from 248 countries, so you will be able to trade from anywhere in the world and do it directly with people interested in cryptocurrencies. The payment options are very diverse, from bank transfer, to Paypal, Neteller, etc.

Its search engine is really simple, just enter the country and the payment method, so that the sellers who accept it appear. Each buyer or seller can give the other person a score, so the user scoring system is a very reliable way to know what reputation each one has.

Disadvantages Very high commissions compared to other Exchange Limited to Bitcoin as a cryptocurrency of operation  The price you use as a reference of Bitcoin is different from the current market price. Rates for sellers. Paxful charges sellers a 1% fee on the transaction.

What cryptocurrencies does Paxful offer?

This Exchange is focused solely on Bitcoin as a reference virtual currency.

Opening and closing of operations in Paxful

The opening of operations is done through deposits to our account. To make deposits in this Exchange we only need to be on our platform and do the following steps:

  1. Select the option “Buy Bitcoin” in your main menu
  2. Select the currency you want to buy with, all currencies from a wide variety of countries are accepted here.
  3. We select the method with which we want to buy and click the “Search” button .
  4. A list of purchase options available through the selected payment method automatically appears. Select the one you like the most and click on “Buy”
  5. Once here you just have to enter the amount of money you want to buy and the system automatically tells you the amount of Bitcoins you get, as well as the commission to pay. In our example, we show that we are going to buy $ 150 USD, it tells us that we will receive 0.01258893 BTC and that of that amount of money, we are really buying 122.62 USD in bitcoins, this means that it charges us a commission close to 19.12%

Once the purchase is made, this platform protects your money and transfers the purchased Bitcoin to your wallet

Paxful commissions

Trading fees

Sellers pay a fee equal to  1% of the transaction amount . Another cost you will need to pay attention to is the exchange rate. Paxful updates your rates online so you can see them before you trade. Each seller can also set their own price slightly higher than the exchange rate for the speed and convenience of their transfers.

Deposit and withdrawal fees

Being a peer-to-peer network, Paxful does not charge buyers any fees for Bitcoin purchases. This responsibility falls on sellers who charge buyers a fee depending on the payment method they are using. For example, if you make payments through gift cards, you will be charged higher fees than if you use credit or debit cards for purchases. Sellers on the Paxful exchange platform are charged one percent . Additionally, sellers will also have to pay a mining fee when sending cryptocurrencies from one address to another. In addition to these, Paxful does not charge any more fees.

Use Paxful in your country

Paxful Spain

There are not too many compelling reasons to use Paxful in Spain. This country is open to many possibilities to acquire bitcoins with other more popular exchanges or through CFDs with a broker such as Etoro . However, there are some exceptions to using it. For example: if you are looking for someone who operates with the same bank or who can close a personal deal in cash. Otherwise, it is more advisable to use another exchange. Why? Simple, with Paxful you will pay much higher rates while in Spain.

Paxful Mexico

Mexico has a wide variety of local exchanges. There aren’t too many good reasons to use Paxful in Mexico. However, there are some exceptions. For example: if you are looking for someone who operates with the same bank or who can close a personal deal in cash. Otherwise, it is more advisable to use another exchange. Why? Simple, with Paxful you will pay much higher rates while in Mexico.

Paxful Colombia

This platform can be used without any problem in Colombia. Although there are popular platforms like SurBTC where you can get bitcoins in Colombia, Paxful represents an excellent opportunity. To find the best bitcoin deals in Colombia, simply change the currency in the search bar and make sure the currency is COP (Colombian pesos)

Paxful Venezuela

Paxful is a platform where you can buy bitcoin without any problem in Venezuela. As there are no popular local platforms to obtain bitcoins in Venezuela, Paxful represents an excellent opportunity. To find the best bitcoin deals in Venezuela, simply change the currency in the search bar and make sure the currency is VEF (Venezuelan Bolivar)

Paxful Argentina

This platform can be used without any problem in Argentina. There are local exchanges like SatoshiTango or Ripio,  where you can get bitcoins in Argentina. Paxful represents an excellent opportunity. To find the best bitcoin deals in Argentina, simply change the currency in the search bar and make sure the currency is ARS (Argentine Pesos)

Paxful Peru

This Exchange can be used without any problem in Peru. Although there are no other popular exchanges where you can get your bitcoins in Peru. Paxful represents an excellent opportunity. To find the best bitcoin deals in Peru, simply change the currency in the search bar and make sure the currency is PEN (Peruvian Soles)

Paxful Chile

Chile has very good local exchanges. So there aren’t too many reasons to use Paxful in Chile. This country is open to many possibilities to acquire bitcoins, such as Buda, SurBTC, among others to directly and instantly obtain your coins. However, there are some exceptions. For example: if you are looking for someone who operates with the same bank or who can close a personal deal in cash. Otherwise, it is more advisable to use another exchange. Why? Simple, with Paxful you will pay much higher rates while in Chile.

How safe is Paxful?

Paxful is a secure and regulated exchange platform. However, the security breach of this platform is precisely the type of exchange. When connecting buyers and sellers from all over the world, there is always the risk that the person will not fulfill their end of the bargain. To mitigate incidences of fraud, Paxful places part of the transaction in a ‘ security deposit’».

User funds are held in escrow when traded on Paxful until both parties involved confirm that the transaction has been completed successfully. In this way, traders are assured that they will not lose their funds, which can fall into the hands of scammers looking to take advantage of unsuspecting traders. In addition, Paxful servers are protected according to the best banking requirements. There is always a small risk and to avoid problems the best thing to do is:

  • Select reputable sellers . Although surely the price per bitcoin will be much higher.
  • Trading small amounts . To avoid problems, start with low-value transactions. Thus, the security deposit will have greater coverage.
  • Carefully review the details of the seller in question.
  • Avoid suspicious transactions.
  • Read the seller’s conditions before making a purchase / offer. Make sure you can meet them.
  • Record everything concerning the transaction . Take screenshots of your deposits, transfers, etc. Thus, you can show that you have really followed everything to the letter.

Generally speaking,  Paxful is a fairly secure platform and there are very few cases of scam. The transaction may take longer than usual and is strictly dependent on the seller’s response time and procedure. In case of a problem, the platform will look for the best solution using the guarantee deposit.

Is Paxful a scam?

If you’ve read up to this point, you may have noticed that Paxful is not a scam. It is actually one of the  safest exchanges out  there. The opinions and comments about Paxful are quite positive on the net. Paxful is a wonderful place to buy and sell bitcoin, as well as being a registered company in the US, it allows you to operate from almost every country in the world. Remember: no  exchange  is risk-free! Much of the mistakes are made by users. Follow the suggestions below to avoid problems:

  • Activate all the security tools provided by your  exchange .
  • Enable two-factor authentication whenever it’s available!
  • It is imperative that the site has an SSL certificate for a secure connection through the HTTPS protocol.
  • If you use more than one  exchange ,  use different passwords for each one .
  • Do not install unknown software on your system . Some malware can steal personal information and eventually steal your funds.

Paxful or Etoro?

Paxful is a good exchange, but due to its limitations regarding cryptocurrencies that you can use and its high commissions, we recommend the eToro broker  , because it has the following options that are important for clients around the world: ✅ Leverage: you allows you to reduce the risk in the purchase of your coins. ✅ Market liquidity ✅ 100% regulated ✅ Crypto CopyFund – You can copy cryptocurrency trades with one click! ✅ Buy your cryptocurrencies through Paypal, Bank Accounts and other forms of payment ✅ Very low commissions

Conclusion on Paxful

Paxful is one of the cryptocurrency  exchanges  with the largest number of clients in the world. It is a safe, reliable platform that has managed to maintain a fairly positive reputation, it has a system of custody of the operation to avoid scams or significant failures. Although the competition is getting more and more intense, Paxful has managed to stay with a very considerable volume and its versatility of deposit options makes it a good option.

With future expansion plans, Paxful is sure to rank among the top  Bitcoin exchanges. So far, it has managed to respond adequately to the changing circumstances of the cryptocurrency market. This is probably one of the most specialized Bitcoin platforms to consider, for any  trader  and those who are just starting to trade should definitely try Paxful’s services. You can visit our guide ” The 20 best  exchanges  of criptomonedas ” to compare this platform with other  exchanges  popular.

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