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Author Topic: Paxful shows negative balance  (Read 67 times)
sunnynadsunny
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January 23, 2018, 03:31:54 PM
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in my wallet 0.00055979 btc,  i send 0.00015979 btc, now it shows -0.00040000 btc why it is negative please help
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Nap0nTilt
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January 23, 2018, 03:36:53 PM
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That is because they have changed their withdrawal fee (to 0.0008 i think).
And now they are charging it backwards for the last transaction you did.

But you can also go in negative balance again.
Means you now are -$4, purchase something, get $10 and have $6
on your wallet.
NOW you can send these $6 dollars and go in negative again to not
completly burn all of your funds Cheesy

Pretty fraudulent in my eyes, but thats how they do that Roll Eyes
kevoh
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January 23, 2018, 04:14:52 PM
 #3

That is because they have changed their withdrawal fee (to 0.0008 i think).
And now they are charging it backwards for the last transaction you did.

But you can also go in negative balance again.
Means you now are -$4, purchase something, get $10 and have $6
on your wallet.
NOW you can send these $6 dollars and go in negative again to not
completly burn all of your funds Cheesy

Pretty fraudulent in my eyes, but thats how they do that Roll Eyes

It's not fraudulent. It's written in bold in their support section. Users should probably spend more time to get acquainted with the rules and guidelines of an online web wallet before proceeding to create a wallet.

Quote
Why is my account balance negative?
If you send 1 bitcoin to an outside address then they get 1 bitcoin and we deduct the bitcoin network miner fee from your remaining balance. If you only had 1 bitcoin as your balance then it shows it as a zero balance but in our system, it will actually be in the negative from the bitcoin network miner fee. When you deposit coins again it will go towards the negative balance. This way if you send out 1 bitcoin the receiving party always gets 1 bitcoin. When you send coins within the Paxful network, to another user, there is no mining fee.

One more example:

A user X is buying coins and gets 0.1 BTC from his trade. 0.1 BTC was deposited to his paxful wallet. After that, the user decided to send all bitcoins out of Paxful to his external wallet or pay for services. For every external transaction, bitcoin network takes 0.0008 BTC fee. User received exactly 0.1 BTC in his external wallet and Paxful pays 0.0008 btc fee for him, at this moment wallet balance become negative for the amount of fee -0.0008 btc. When the user logs into his account next time and buys another 0.1 BTC, he will receive total amount minus fee (-0.0008 + 0.1 = 0.0992 btc).

Please keep in mind this simple rule when you are sending bitcoins out.

in my wallet 0.00055979 btc,  i send 0.00015979 btc, now it shows -0.00040000 btc why it is negative please help
Kindly read the excerpt above that I got from paxful's FAQ website.
Kryptcoin
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January 23, 2018, 05:18:26 PM
 #4

in my wallet 0.00055979 btc,  i send 0.00015979 btc, now it shows -0.00040000 btc why it is negative please help
You sent your bitcoin to an address outside the paxful network. This attracts the mining fee. The negative appears hence you have no balance to pay for the fee.
cipher-x_09
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January 24, 2018, 09:31:53 AM
 #5

Because you chose to send the coins to other external wallet and the miner's fee you chose is high which resulted in negative balance on your account, and since you are in a hurry to send your coins to the external wallet you've probably chosen the high amount of transaction fee so that the priority for your confirmation will be high without you even noticing the amount of transaction fee required.

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Nap0nTilt
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January 24, 2018, 11:17:34 AM
 #6

That is because they have changed their withdrawal fee (to 0.0008 i think).
And now they are charging it backwards for the last transaction you did.

But you can also go in negative balance again.
Means you now are -$4, purchase something, get $10 and have $6
on your wallet.
NOW you can send these $6 dollars and go in negative again to not
completly burn all of your funds Cheesy

Pretty fraudulent in my eyes, but thats how they do that Roll Eyes

It's not fraudulent. It's written in bold in their support section. Users should probably spend more time to get acquainted with the rules and guidelines of an online web wallet before proceeding to create a wallet.

Quote
Why is my account balance negative?
If you send 1 bitcoin to an outside address then they get 1 bitcoin and we deduct the bitcoin network miner fee from your remaining balance. If you only had 1 bitcoin as your balance then it shows it as a zero balance but in our system, it will actually be in the negative from the bitcoin network miner fee. When you deposit coins again it will go towards the negative balance. This way if you send out 1 bitcoin the receiving party always gets 1 bitcoin. When you send coins within the Paxful network, to another user, there is no mining fee.

One more example:

A user X is buying coins and gets 0.1 BTC from his trade. 0.1 BTC was deposited to his paxful wallet. After that, the user decided to send all bitcoins out of Paxful to his external wallet or pay for services. For every external transaction, bitcoin network takes 0.0008 BTC fee. User received exactly 0.1 BTC in his external wallet and Paxful pays 0.0008 btc fee for him, at this moment wallet balance become negative for the amount of fee -0.0008 btc. When the user logs into his account next time and buys another 0.1 BTC, he will receive total amount minus fee (-0.0008 + 0.1 = 0.0992 btc).

Please keep in mind this simple rule when you are sending bitcoins out.

in my wallet 0.00055979 btc,  i send 0.00015979 btc, now it shows -0.00040000 btc why it is negative please help
Kindly read the excerpt above that I got from paxful's FAQ website.

Thats right.
But charging it backwards for a transaction done in the past is not correct at all
in my opinion.
Thats like btctalk suddenly decides to charge a membership and is forcing you to pay
it not only from now but from the point you registered here.
sunnynadsunny
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January 24, 2018, 01:32:22 PM
 #7

thanks to all
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