Has anyone used Paxful before?

[RonnyD17]

Hey all

I'm a long time user of LocalBitcoins but I am stopping because of their KYC.

I came across Paxful but I am unsure of the reputation, has anyone here used it? If so, please can you let me know of your experience. I've read some dreadful Reddit reviews about scammers etc.

Also, has anyone ever used a cash service on Paxful?

Thanks

[1714178274]

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[1714178274]

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[Etshy]

i'm using Paxful daily , secure website to deal with .. the only problem i face is when i have bitcoin in my account on the website and i try to exchange it for anything else then someone makes an offer and refuse to follow the terms of the trade or just open a trade and leave , your bitcoin will be on hold until the trade is closed

[magneto]

Hey all

I'm a long time user of LocalBitcoins but I am stopping because of their KYC.

I came across Paxful but I am unsure of the reputation, has anyone here used it? If so, please can you let me know of your experience. I've read some dreadful Reddit reviews about scammers etc.

Also, has anyone ever used a cash service on Paxful?

Thanks

There used to be a lot of GC scammers on Paxful but I think this is less of an issue now.

I remember I had an ad to sell BTC for AdvCash and I even got a few carders trying to promote themselves through the chat which actually held my coins in escrow in a while, which was a hassle.

In terms of the support, it's honestly not that great, perhaps industry average at best. But they have been running for a long time now, and there are some pretty good spreads (anywhere between 3-10%) that you can take advantage of if you are creating an ad to sell/buy BTC. Just beware that they are moving towards more KYC as well - you wouldn't be able to trade anonymously forever.

[mersal]

Not much of a difference between paxful and LBC, both require KYC for higher tier and both are having potential risk of trading with hacked accounts. If you are okay with the paxful's KYC requirement then you can start trading there but you need to be careful while choosing your trading partner, and avoid newly created accounts and accounts with less number of trades and inactive accounts came back to active after a while.

[Jawhead999]

If you don't want to submit your KYC on an exchanges, you may need to avoid centralized P2P marketplace (e.g. LocalBitcoins, Skrill and Paxful). They can force you to submit KYC or your funds will be frozen [1] [2]

All "centralized" exchanges has his own security and system to track customer account activities to determine how large the trading amount, suspicious activities that can be considered as money laundering. However no system is 100% perfect so even though you didn't break any rules from their TOS, you can be targeted as well.

You can choose decentralized P2P marketplace between (e.g. Bisq [3] or HodlHodl [4]) it's far better to hide your KYC, so you don't need to worry again.

[1] https://bitcointalk.org/index.php?topic=5278207.0
[2] https://bitcointalk.org/index.php?topic=5207597.0
[3] https://bisq.network/
[4] https://hodlhodl.com/

[LeGaulois]

...

You may re-consider your definition of a decentralized marketplace. HodlHodl is in no way decentralized.
Secondly, Skrill is not a marketplace, it's a payment processor. Totally different.

@OP
For the persons looking to avoid the KYC verification, Paxful is not a good alternative to consider and you can be sure the system will have more restrictions very soon? to the point it won't be different than LocalBitcoin.
You should rather take a look at Localcryptos and as someone mentionned HodlHodl too.