Paxful is closed. What P2P alternative do you recommend?

[twiki]

I would appreciate it if you could reassure me and recommend an alternative to Paxful (thank God I withdraw my funds a day ago).


Please provide solid arguments. Thx!

[1714327773]

1714327773

[1714327773]

1714327773

[1714327773]

1714327773

[BlackBoss_]

Paxful directs their customers to Noones.com which looks to be their new brand for Global South customers.

You must be citizens of non-banned countries to use their service. List of countries blocked on Noones.

If you want truly Peer-to-Peer marketplace, choose Bisq.network.

Non-KYC exchanges: https://kycnot.me/

[mk4]

Not sure how good/bad it is right now, but HodlHodl has worked well for me in the past with the few times I've used it. As for a P2P exchange with the best liquidity, it's unfortunately Binance P2P which requires AML/KYC.

Would've recommended LocalCryptos, but they got borked real bad lol.

[Nwada001]

I would appreciate it if you could reassure me and recommend an alternative to Paxful (thank God I withdraw my funds a day ago).


Please provide solid arguments. Thx!

Your choice of P2P will depend on your location because almost all P2P right now is on a centralized platform, which means they will need you to verify your account before it can be used on their platform for any form of exchange.
If not, I will also recommend
https://hodlhodl.com/
https://localcoinswap.com/ (KYC required)
I haven't used them before, but I have read about them as a decentralized P2P marketplace where you won't be required to use any form of ID verification.

But if you need a place where you need to pass KYC, then I can recommend Binance for you, but you need to be careful when using any centralized exchange. Buy and withdraw to your private wallet. Don't store crypto on exchanges.

[Orpichukwu]

Not sure how good/bad it is right now, but HodlHodl has worked well for me in the past with the few times I've used it.

Yea Hodlhodl is still working perfectly right now just used it few days back, the only challenge I experience their was the delay with the Marchant to confirm payment so that my BTC purchase can go straight to my wallet, and the withdrawal fee are always deducted from my end, although I know every Marchant have their own terms.

Off-topic: @mk4, Missed your post's around here, have not been seeing you lately like before 

[SquirrelJulietGarden]

If not, I will also recommend
https://localcoinswap.com/
I haven't used them before, but I have read about them as a decentralized P2P marketplace where you won't be required to use any form of ID verification.

It is not true. LocalCoinSwap.com requires Identity Verification.

Identity Verification

In order to ensure LocalCoinSwap remains a safe platform for all of our customers we may require you to verify your identity as part of the services we offer. Identity verification may be required during trade disputes, fraud investigations, and to ensure account ownership. As part of our ID verification process we may require you to provide us with your full name as well as documents and photographs that verify your identity.

In certain situations we may require enhanced identity verification. This may include requirements to verify details regarding payments you have made or received during trades on LocalCoinSwap as well as cryptocurrency transactions that you’ve sent or received from your LocalCoinSwap account.

Dispute review

During a dispute review LocalCoinSwap support may give you instructions that you are required to follow. The instructions given to you may require you to provide proof of payment, proof that you have or have not received payment (e.g. bank transaction history), additional ID verification, photo; audio; or video evidence, or any other documents deemed relevant by LocalCoinSwap. Unless otherwise specified by LocalCoinSwap, these documents must be added to the disputed trade itself. Failure to follow the instructions may lead to the dispute being resolved against you.

Limitation, Suspension, and Termination of Your User Account

snip
    we have reason to believe that you have supplied false, misleading or deceptive information in connection with your registration, identity verification, trades or any other use of our services, either to us or to another user;

https://hodlhodl.com/

It is good for hodlhodl.com, they don't require KYC.

[Dr.Bitcoin_Strange]

OP, there are some helpfully suggested alternatives for Paxful in the below threads.

COINBAAZAR IS THE ONLY ALTERNATIVE TO PAXFUL
The only alternative to p2p Marketplace like paxful etc, with 250+ payment modes

Also check this out @OP
List of Decentralized/Centralized Exchanges

[SquirrelJulietGarden]

OP, there are some helpfully suggested alternatives for Paxful in the below threads.

COINBAAZAR IS THE ONLY ALTERNATIVE TO PAXFUL
The only alternative to p2p Marketplace like paxful etc, with 250+ payment modes

I disagree if you say Coinbaazar is the only alternative to Paxful.

Paxful provides hundreds of payment methods and one of their most favorite payment methods is Giftcards. You can have many alternative platforms to trade Giftcards to cryptocurrency and cryptocurrency to giftcards. If you are not against KYC, many Paxful alternatives for you to choose.

[List] Gift cards providers. Your choices will become less if you don't like KYC.

[SquirrelJulietGarden]

Paxful and also other such peer to peer exchanges have been closed because they were not users friendly and that's a main reason they have been failed and I still can't believe that these exchanges were so much bad that they offer so much trading fee that not even a small trader can support.

Being not user friendly and have millions of users and have about $35M to $40M trading volume. Are you sure about what you know?

Paxful trading volume from Coin.dance.

As Bitcoin Platform Paxful Closes, Co-Founder Youssef Talks Up Alternatives

Their closing is related to compliance problems and fees for it.

“We spent millions on compliance, but even that still wasn’t enough,” Youssef told CoinDesk in an interview. “And then to make things worse, in the middle of January, my co-founder decided to sue the company and myself. The litigation got really nasty and he scared away our best people. My entire chief level staff resigned. I had no operational staff.”

That's why when Binance cake they launched free Peer to peer trading

Binance cake, what is this?

P2P Fee rates on Binance P2P is free now but it won't last forever.

[Dave1]

You can follow the thread here with regards to Paxful closing,

https://bitcointalk.org/index.php?topic=5447568.0

As far as alternatives, no one comes closed to Paxful though, that's why it's a big loss to hear that they are shutting down. But that's the nature of this business though, really hard to survived as there are a lot of regulations and side issues that you have to face.

So far from what I see, https://hodlhodl.com/ could be one of the best alternative.

[adzino]

I would appreciate it if you could reassure me and recommend an alternative to Paxful (thank God I withdraw my funds a day ago).


Please provide solid arguments. Thx!

Paxful closed, but they didn't confiscate anyone's fund. Saying "thank God I withdrew my funds a day ago" makes it sound like users that didn't withdraw their funds lost their coins. You can still withdraw your funds from Paxful to an external wallet. They also recommend another marketplace Noones.com, which seems to be the same as paxful, just operating using a different name, from a different country and not serving to users from certain countries (because of regulator issues). You could try using that if you aren't from the restricted country. Or try one of the exchanges P2P method. Just letting you know, none of those platforms are decentralized and you might lose your coins there.

[Dr.Bitcoin_Strange]

I disagree if you say Coinbaazar is the only alternative to Paxful.

LOL, but I'm not the one directly saying it; it's just based on the OP's title of his thread and on what he thought and his experience with COINBAAZAR back in 2020. Back then, PAXFUL was also a perfect choice for many people. I referred the thread to the OP because it could also be of help to him. There are definitely going to be a lot of opinions for the OP, and I believe he has the choice to make his financial decisions. We're all just trying to make things easy for him.

[Solosanz]

@OP are you only looking for P2P site regardless it's require KYC or not? Paxful is a KYC P2P platform, I still don't find any reason why I need to use P2P platform when it's require KYC, centralized exchange is better since the liquidity is really high and they have many features.

Better to use no KYC P2P platform e.g. hodlhodl or you can use decentralized exchange e.g. Bisq. You can read this thread to know why privacy is really important Why beginners should pay attention to their privacy.

It is not true. LocalCoinSwap.com requires Identity Verification.

I disagree if you say Coinbaazar is the only alternative to Paxful.

Some users just shitposting without knowing anything about the platform

Moreover someone recommend to use Shitcoinbaazar which shilled by this user, I think he just using google search and then found the thread, so he suggest what he read on the subject title.

[SquirrelJulietGarden]

Paxful closed, but they didn't confiscate anyone's fund. Saying "thank God I withdrew my funds a day ago" makes it sound like users that didn't withdraw their funds lost their coins. You can still withdraw your funds from Paxful to an external wallet. They also recommend another marketplace Noones.com, which seems to be the same as paxful, just operating using a different name, from a different country and not serving to users from certain countries (because of regulator issues). You could try using that if you aren't from the restricted country. Or try one of the exchanges P2P method. Just letting you know, none of those platforms are decentralized and you might lose your coins there.

Their platform was overloaded by massive withdrawal requests but it was cleared yesterday and Ray (their CEO) requested users to confirm if their withdrawals were proceeed to clear fud and panic in Paxful community.

Four hours ago, he tweeted that if your funds still have not cleared please post here. I need nap 😴 but will power thru

LOL, but I'm not the one directly saying it; it's just based on the OP's title of his thread and on what he thought and his experience with COINBAAZAR back in 2020.

You must be careful when you shared information.

It is like you did not know about available P2P marketplaces and quickly copied, pasted what you got from Google search or ChatGPT answer.

Some users just shitposting without knowing anything about the platform

They tried to make long posts and they thought writing long will create high quality and posts will be counted.

[CryptSafe]

About the paxful saga, the founder of paxful hinted on some reasons through his twitter handle why they are  shutting down and he said "his co-founder sued him and the company to court after being kicked out of the company over a year ago"

source: https://punchng.com/bitcoin-platform-with-over-one-million-nigerian-users-shuts-down/?amp

I think the co-founder wants some gigs which they understand but are bent on not settling him but rather shutting down and using court cases to cover up on not understanding what he is up to.

According to the above sources, over 1,500,000 Nigerians patronize paxful which  makes it critically obvious to be noticed which does not augur well with both parties involved.

This issue is likened to the parables that says " When two elephants fights dirty, the grass bears the cruel burden of it all"  This is the situation of the paxful founder, co-founder and customers.

[Dr.Bitcoin_Strange]

You must be careful when you shared information.

That's correct.

It is like you did not know about available P2P marketplaces and quickly copied, pasted what you got from Google search or ChatGPT answer.

I did not share the thread because the OP said COINBAAZAR was the only viable alternative, but because there were some useful suggestions by @hugeblack.

There are many options that can be alternative to both Paxful & Localbitcoin. I suggest these lists that give you some of those options^{[1] [2]}.
I can add some good alternatives to you:

 - https://localcryptos.com/: old Localethereum
 - BISQ: open-source, peer-to-peer application
 - Bitify.com: good escrow for selling/buying crypto products.

[1] https://bitcointalk.org/index.php?topic=2906237.0 *
[2] https://bitcointalk.org/index.php?topic=5218464.msg53632740#msg53632740

* This list has not been updated for a while and many of those platforms have turned out to be scam, you should search before testing.

[Findingnemo]

Paxful directs their customers to Noones.com which looks to be their new brand for Global South customers.

Thanks for the info fella, just now saw this and entered into the platform which is same as Paxful UI with new name and one more point the website also carry over the feedback history of Paxful which I noticed after logged into the site. For now this seems to be my day trading platform but I encourage everyone to use platforms like Bisq that is something really p2p and completely anonymous.

[Potato Chips]

Thanks for the info fella, just now saw this and entered into the platform which is same as Paxful UI with new name and one more point the website also carry over the feedback history of Paxful which I noticed after logged into the site. For now this seems to be my day trading platform but I encourage everyone to use platforms like Bisq that is something really p2p and completely anonymous.

If you're going with centralized platforms, you could probably get a better deal elsewhere.  I've looked into noones the other day and noticed people won't get too far with their email and ID, see lifetime limits.



While noones doesn't have mandatory identity verification for most countries, people should always be ready for it given the nature of these exchanges, unless you're only dealing with amounts you're fine parting with.

[Findingnemo]

While noones doesn't have mandatory identity verification for most countries, people should always be ready for it given the nature of these exchanges, unless you're only dealing with amounts you're fine parting with.

The platform needs some fixes in their Tos because they say someone can have $700 trading limit for email verification but without going through ID verification I can't able to access the marketplace so they made KYC now mandatory yet to make changes in the list I guess but its exact replica of Paxful and tried few trades there which works fine for me.

Yes by using centralized exchanges the deal can be better but here I feel people are ready for the price which I am quoting compared to Centralized exchanges.

[Potato Chips]

While noones doesn't have mandatory identity verification for most countries, people should always be ready for it given the nature of these exchanges, unless you're only dealing with amounts you're fine parting with.

The platform needs some fixes in their Tos because they say someone can have $700 trading limit for email verification but without going through ID verification I can't able to access the marketplace so they made KYC now mandatory yet to make changes in the list I guess but its exact replica of Paxful and tried few trades there which works fine for me.

Thanks for the heads up. Can I confirm that you were not coming from one of these countries, see: https://support.noones.com/hc/en-us/articles/6125405610639-What-Countries-Require-ID-Verification-

and has confirmed your phone number with them when you tried the no-kyc tier?