Paxful Review: Peer-To-Peer, Instant, Legit

Fast and wild

Great for fast anonymous Bitcoin purchases. Due diligence required!

Try Paxful today
  • Ease of use
  • Anonymity
  • Prices & Fees
  • Trustworthiness
  • Speed

Paxful is a peer-to-peer online marketplace with a built-in escrow mechanism. Bitcoin sellers list the amount of BTC they are willing to sell and the payment methods they accept and Bitcoin buyers search and select the offer they are interested in. Both parties exchange payment details and then Bitcoin is released from Paxful escrow. The goal of the platform is to let users buy Bitcoin fast and at the level of anonymity they select themselves. Paxful does not collect personal data more than each individual Bitcoin seller would ask.

Anonymity of Paxful largely depends on the payment method you choose to use. If you select a debit card payment – naturally there is a way to trace your purchase if the card is issued to your name. If, on the other hand, you exchange a gift car for Bitcoin – there is practically zero chance the purchase will be tied to your name.

Paxful headquarters is registered in Delaware, USA, Ray Youssef being the CEO, you can view the company info on LinkedIn.

Paxful app

First and foremost – there is NO official Paxful app on Google Play. The one listed there as “Paxful” right now is a scammy imposter app from another manufacturer. The user reviews there indicate this is not an official Paxful app, but Google Play moderators take a while to purge it for some reasons:

paxful app playstore not genuine avoid scam

As you can see there are two manufacturers having made a Paxful app each, none of them are Paxful:

paxful apps playstore fake

There is also an app on websites called Appsgeyser and an Appypie, and none of them are official. It’s a bad idea to use any of those apps even if they are not malicious – do not compromise your Paxful credentials or wallet password.

Use the official Paxful website to avoid any confusion.

Payment methods

Paxful payment methods are what seals the deal with this marketplace. There are over 300 payment methods of varying degree of safety, privacy and reversibility. The fact that you can buy Bitcoin for practically anything on Paxful is why the exchange is growing more and more popular.

As an example, here is a quick list of all payment methods available for Bitocin purchases at the time of writing:

iTunes Gift Card, Amazon Gift Card, PayPal, Western Union, Steam Wallet Gift Card, Skrill, Bank transfer from ANY Bank, MoneyGram, Nigeria Banks Transfers, National Bank Transfer, Cash in Person, Serve to Serve Account Transfer, eBay Gift Card, OneVanilla VISA/MasterCard Gift Card, Payoneer, ANY Credit/Debit Card, Perfect Money, Cash deposit to Bank, Playstation Network Gift Card, Neteller, Walmart Gift Card, Vanilla VISA Gift Card, Local Bank Transfer, Paytm Online Wallet, Alipay, Bluebird American Express, ANY VISA MasterCard AmEx Gift Card, GTBank (Guaranty Trust Bank) Nigeria, VISA Credit/Debit Card, Ethereum (ETH), Target Gift Card, IMPS Transfer, VISA Gift Card, Gift Cards, Xbox Gift Card, MasterCard Gift Card, Paysafecard, GreenDot CardCard Transfer, Litecoin (LTC), Google Wallet, Interac e-transfer, Google Play Gift Card, Best Buy Gift Card, Walmart Visa Gift Card, MoneyPak, Payeer, Target VISA Gift Card, WalmartWalmart, American Express Gift Card, Bitcoin Cash (altcoin), Netspend Web Transfer FlashPay, Walmart Money Card, GObank Card Account Transfer, GameStop Gift Card, Venmo, Nordstrom Gift Card, American Express, Zelle, Home Depot Gift Card, AdvCash, Uber Gift Card, GreenDot Prepaid Debit Card, Square Cash, Reloadit, Apple Gift Card, M-Pesa, Bitcoin ATM, Simple Bank instant transfer, TD Bank Cash Deposit, Bank of America Online Transfer, ANY Gift Card Code, Bank of America Cash Deposit, Same bank transfer, RushCard, Wells Fargo Cash Deposit, Gift Card, Prepaid Debit Card, Chase Quickpay, Lowe’s Gift Card, Bank deposit electronicTransfer, Amazon Wishlist, WebMoney, Flashpay, Cash By Mail, SEPA, Chimp Change Mobile App Transfer, UPI Payments, FIRST BANK OF NIGERIA, Sephora Gift Card, Sears Gift Card, Nike Gift Card, Neosurf Gift Card, Dell Gift Card, RIA Money Transfers, MyVanilla CardCard Transfer, Suntrust Cash Deposit, SUBWAY Gift Card, Netspend Prepaid Debit Card, CO-OP Credit Unions Cash Deposit, Wells Fargo SurePay, gift cards of us based retailers, Monero, PayPal My Cash Gift Card, MyVanilla Prepaid Debit Card, Staples Gift Card, Macy’s Gift Card, Simple Card peerpeer transfer, Netspend Reload Pack, Newegg Gift Card, WorldRemit, Electronic Funds Transfer (Bank Deposit), Dash, Simple, code, Bank Wire (Fedwire), Paysera, MTN Mobile Money, CashU, PNC Cash Deposit, Virtual visa mc gift card, Victoria’s Secret Gift Card, Babies R Us Gift Card, Reloadable Vanilla Card, OkPay, Leupay, WeChat Pay, Adidas Gift Card, PayM, Zumiez Gift Card, Zappos Gift Card, Guitar Center Gift Card, Foot Locker Gift Card, Jcpenny Gift Card, US Bank, PostePay, Ulta Gift Card, Mango CardCard, Rue Gift Card, Walmart to walmart, Chase Cash Deposit, Yandex.Money, Michael Kors Gift Card, Barnes & Noble Gift Card,, Finish Line Gift Card, Office Depot Gift Card, Starbucks Card, Kroger to Kroger prepaid, Bkash Banking (Bangladesh), Equitel Mobile Money, INTERAC Online, AccountNow CardCard Transfer, Neiman Marcus Gift Card, StubHub Gift Card, Gift Card, CVS Pharmacy Gift Card, Applesbee’s Restaurant Gift Card, Bankwest Cash Deposit, International Wire Transfer (SWIFT), Netflix Gift Card, Email wire transfer, Quiksilver Gift Card, Hyatt EGifts, Pizza Hut Gift Card, Viber Out Gift Card, UK Fidor Bank Transfer, Rocket Banking (Banglaldesh), Pokerstars, Dunkin’ Donuts Card, Macaroni Restaurant Gift Card, Forever Gift Card, Cash Deposit: Royal Bank of Canada, Postal Money Order, Cash deposit: ANZ, ASB, BNZ, KIWI, WESTPAC, INSTANT RELEASE!, Home Shopping Network e Gift Card, Key Bank Cash Deposit, Wells Fargo cardless ATM, Stripe, MobilePay,, Wendy’s Gift Card, usbank cash deposit, OneWest Bank Cash Deposit, Cardless Cash, Jomashop Gift Card, Dean & DeLuca Gift Card, Shutterfly Gift Card, BNZ Same Bank Transfer, Dogecoin, Skype Voucher Code, Commonwealth Bank – Cash Deposit @ Branch |or| / ATM, Bill payment, Belk Gift Card, Gift Card Nintendo eShop Digital Card Email delivery, Whole Foods Market Gift Card, Southwest Airlines Gift Card, Cash Deposit: All Aus Banks, Cash deposit (Coinstar Kiosk), Great Wolf Lodge e-Gift Certificate, BPI & Cebuana Lhuiller, Kaiku Card-to-Card Transfer, Player to Player transfer, Facebook Messenger Payment, Cracker Barrel Gift Card, EB Games Gift Card, Commonwealth NetBank Transfer, mCash – mobile payment Norway, PaySon, First Republic Bank Cash Deposit, Straight Talk Reload, Chipotle Gift Card, Gift Card, Mobile Recharge, SWISH, Costco Cash Card, Westpac – Cash Deposit @ Branch or / Deposit ATM, Banana Republic Gift Card, Bank Transfer from/to any Thai Bank, Target/GameStop/BestBuy Offline, MoneyPolo, Capital One PP Payment – Online Bank Transfer, Maybank, Reebok Gift Card, TransferWise, Bancolombia Cash Deposit, CBA/WestPac/NAB/ANZ – same bank transfer, CBA to CBA Netbank Transfer, Mandat Cash Urgent, Stream Gift Card Code, Vanilla Reload Card, Cash Deposit: Fifth Third Bank, Spotify Gift Card, H&M Gift Card, Cash Deposit: BB&T, Wells Fargo, Bank of America, Cheesecake Factory Gift Card, Cash Deposit: Key/Us Bank, Cash Depost: BPI, Postal Order, Same Bank Transfer: CBA, Westpac, INSTANT RELEASE!, Runescape Gold, Paypower, Claim Jumper Gift Card, Pottery Barn Gift Card, Outback Restaurant Gift Card, RBC Bank Cash Deposit, Taco Bell Gift Card, Maybank Cash Deposit, TicketMaster Gift Card, Mexican Banks Cash Deposit, Lloyds Bank, Bath and Body Works Gift Card, Bank transfer: ANZ & Westpac online transfer ONLY IN AUSTRALIA, LiqPay, Vodafone Cash Egypt, Cash in Mail, Fandango Gift Card, Payza, CVS Gift Card, Bank of the West Cash Deposit, Bitgold, Olive Garden Restaurant Gift Card, Under Armor Gift Card, First Tennessee Bank Cash Deposit, U.S. Bank Cash Deposit, Westpac – Cash Deposit CBD ATM /, Chili’s Restaurant Gift Card, CBA or Westpac, INSTANT RELEASE!, Skype Credits, AMC Theaters Gift Card, IHOP Gift Card, Cash deposit to CBA or Westpac, INSTANT RELEASE!, Paxum, Game Packs, HSBC Cash Deposit, Flexepin Gift Card, ApplePay, BOA❁TD❁WF❁PNC❁BBT Cash Deposit, Microsoft Gift card, AT&T Gift Card, Popmoney, Citibank Cash Deposit, Groupon Gift Card, Cash Deposit: BB&T, CITI Bank, TD Bank, Brazilian National Bank Transfer, Steak and Shake Restaurant Gift Card, Cash deposit: CBA/WestPac/NAB/ANZ, Xoom Bank Transfer Worldwide, Tim Horton Gift Card, Coles Gift Card, Bed Bath & Beyond Gift Card, Payless Shoes Gift Card Code, Burger King Gift Card, Holiday, International Remittance, CIBC Cash Deposit, BB&T Cash Deposit, Scotia Bank Cash Deposit, La Banque Postale Cash Deposit, CASH DEPOSIT: BB&T AND CREDIT UNIONS, Peercoin, Novacoin, Namecoin, Marriott Gift Card, Citibank Online Transfer, Kroger Recharge, code, Ready-Debit® Prepaid Transfer, Eco Cash, Cash deposit to all major New Zealand banks, Cash Deposit Navy Federal Credit Union, Desjardins Bank Cash Deposit, Westpac – Cash Deposit, Del Taco Gift Card, Compass Cash DEposit, Brookstone Gift Card, Wells Fargo Account Transfer, BBVA Compass Cash Deposit, Bank Mandiri, Ticket Premium, Domino’s Pizza Gift Card, Boston Market Gift Card, National Bank of Canada Cash Deposit, Akimbo, Office Max Gift Card, Bank transfer to ANY US bank, Monese, PlusGiro, St George Cash Deposit, Cirque Du Soleil Gift Card, Solid Trust Pay STP, Community First Credit Union Cash Deposit, Rbs/Natwest/Ulster BANK ONLY-GET CASH ONLY, Natwest/RBS/Ulster Mobile Banking ONLY, NAB – Branch |or| / ATM Cash Deposit, Time Stamp Selfie, Cash Deposit: CSOB Branches & ATMs, Cash Deposit: CSOB ATMs, Cash Deposit: ANZ, UGO Pay, Cash Deposits Bank of America, Capitol One, Barclays Pingit, Shell Gift Card, Delta Airlines Gift Card, Bank transfer: ANZ, ASB, BNZ, KIWI, WESTPAC, INSTANT RELEASE!, Myer Gift Card, Ready Debit, Santander Bank Cash Deposit, Swipp (DKK), Voucher, Flipkart e-Gift Voucher, Woodforest National Bank Cash Deposit, NXT coin, M&T Cash Deposit, BPI Bank Philippines, Cash Deposit: ANZ, Cash Deposit: CBA Westpac INSTANT RELEASE!, Hooters Gift Card, West Elm Gift Card, Allied Bank, Santander Bank, LibertyX Pins, Capitol One, McDonald’s Gift Card, Check, E-check, Cashier’s check, BMO Cash Deposit, Regions Cash Deposit, SQUARE UP, Cebuana Lhuiller Pawn Shops, EastWest Bank Cash Deposit, Riot Points, MINT E-Gift Card, FasaPay, Cash Deposit: Commonwealth Bank, BMO Harris Cash Deposit, Suntrust account transfer, Commonwealth Bank of Australia, Gift Card, Frost Bank Deposit, TD/Wells/Citi/US/Capital/PNC/BB&T/SunTrust, Calvin Klein Gift Card, rd Bank Cash Deposit, Abra, Same Bank Transfer: ASB, BNZ, CO-OP,KIWI, WESTPAC, INSTANT RELEASE!, ING Direct, Huntington Bank Cash Deposit, Cash Deposits Bank of America, Capitol Onee, CO/OP Shared, Hilton HHonors Points, Citizens Bank Cash Deposit, Regions Bank Transfer, Boost Mobile, HULU Gift Card, iDEAL, Comerica Bank Cash Depostit, Union Bank Cash Deposit, United Airlines Gift Card, AstroPay Direct, AC Moore Gift Card, Cash Deposit: US Bank, Cash at CVS Pharmacy, Invite Code, Safe.Cash, Cash Deposit, Cold Stone Creamery Gift Card, Ez Remit, Westpac Same Bank Transfer, Polo ralph lauren gift card, CO-OP Shared, Capital One Cash Deposit, Cash Deposit Capitol One, Cash deposit: StGeorge/BankSA/Bank of Melb/NAV/Bankwest/Suncorp, Walmart/CVS/-Eleven Cash Deposit.

If this variety is not impressive then we do not know what is.

Paxful fees

The fee structure is very simple at Paxful:

  • the Bitcoin buyer has no fees payable to the Paxful platform
  • the Bitcoin seller pays a 1% fee to Paxful

Even though there are no buyer fees, sellers set their prices as they please, so you will always overpay a bit to match the seller’s price. Most of the legitimate sellers on Paxful convert reversible payments into irreversible ones (i.e. fiat money into Bitcoin), which means they have to hedge against the risks. For instance, the seller will exchange your $100 gift card for $80 worth of bitcoin, $20 being your fee for a fast, direct and untraceable Bitcoin purchase.

All the info is clearly displayed in the Paxful knowledgebase.

Paxful Safety

Paxful is a peer-to-peer marketplace that simply matches people willing to buy and sell Bitcoin fast. You need to understand that there will be scammers on a site like that, but it’s easy to stay safe if you follow simple steps, including those listed by Paxful in their knowledgebase.

First, the danger of getting scammed mostly affects Bitcoin sellers, not buyers. Since most traditional payment methods (PayPal, debit & credit cards, even gift cards) are mostly reversible, a buyer can get his/her funds back in case of a mishap. The Bitcoin seller, on the other hand, will lose any access to the BTC they send out, since all Bitcoin transactions are irreversible. So if you are just using Paxful for a quick Bitcoin buy using PayPal, debit card, cash or any other payment methods they support – you have very little to worry about. It is mostly the sellers that are working with the risk of reversible payment methods.

With that said, here is the list of Paxful safety tips for sellers (read these too if you are a buyer!):

1) Instantly reversible payment methodsPayPal, Venmo, Chase QuickPay, Google Wallet, VISA/MasterCard/Amex

Use buyer ID verification and extreme security precautions while accepting these payment methods. Ask for a selfie with a state issued ID and a handwritten note with your, seller’s, nickname – something to prove neither the card nor the ID are stolen. A lot of Bitcoin sellers have been scammed on Paxful when they took customer vetting easy with these payment methods.

2) Most gift cards are reversible too, just with time limits (e.g. Amazon gift card is reversible within 45 days). Though gift cards are usually cheap and offer little reward for scammers, take these safety measures:

a) ask for a photo of the gift card with the code at the back;
b) ask for a photo of the cash receipt
c) ask them to write your username on the receipt

All that will prove that the card was bought with cash and has not been re-used.

3) In general, there are several warning signs if the user is unreliable:

a) he/she ignores your instructions and/or sends information you did not ask for.
b) high amount ($50+) gift cards used for bitcoin purchase without any purchase history (first time buyers will use $20-$30 gift cards)
c) he/she buys a very small amount of Bitcoin from you to establish trust and then comes back buying a MUCH larger ammount nearly immediately. Legitimate buyers rarely buy their first bitcoin twice in one week.

4) Check the Paxful forum for any reports on the user you are dealing with. No matter if you are a buyer or a seller, the feedback on the forum may give a lot of background on the person you are dealing with. Also, immediately report user to Paxful if you have been scammed or if you suspect you might be getting scammed. You can start a dispute too in order to bring the attention of Paxful moderators to your case.

Verdict. Is Paxful legit?

Paxful is legit and trustable as a marketplace with built-in security measures, ratings system and a vigilant community. However, the marketplace may host malicious actors before they get neutralized, that is why you need to be careful while trading and adhere to safety measures listed above.

The benefits of Paxful are that it gives an opportunity to buy bitcoin with either cash, debit or a credit card instantly and without any ID verification (the seller may and will ask you to prove yourself if you use a credit/debit card though). How long Paxful takes depends on the payment method you select, but most cash or gift card transactions are very fast.

Once you buy your Bitcoin and it’s deposited to your Paxful wallet make sure you withdraw it to another wallet where you control the private keys.



Fast and wild

Great for fast anonymous Bitcoin purchases. Due diligence required!

Try Paxful today
  • Ease of use
  • Anonymity
  • Prices & Fees
  • Trustworthiness
  • Speed
1 Comment
  1. MeaganxMeagan says

    I have been using them since day one for trading! They have lots of youtube tutorials as well!

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