Is Paxful safe?
It sounds like a plan with the word “Is Paxful safe” but in the article, we discuss so much better some challenges you asked yourself about the Paxful platform. But before we go ahead into the main article to discuss what then we should know what “ Paxful ” means
What is Paxful?
If I should take deep research from google search, you only found only one platform and it’s Paxful. Paxful is a global peer-to-peer (Also known as P2P) platform building a financial system for the 100%- one bitcoin at a time.
They help the world in exchange for digital finance, this means they deal with digitalize currency including gift cards and other way as payment methods using a P2P method. Paxful is a people-powered platform for buying, selling, and trading digital currencies. Its mission is to provide everyone, everywhere with equal access to the global economy.
Paxful really change the way the world moves money and their system is not just for the 1% but for the 100% the question for this article is that “is Paxful safe”
Is Paxful safe?
Is Paxful a good company?
If I’m to conduct a Paxful platform a score, all over under 10, I will give them 9, they are a good company that has a great-looking website and application with all possible ways to buy Bitcoin, Ethereum & Tether (USDT), and other Digitial gift cards all over the world.
I have been on Paxful for close to a year and it’s a great website that is easy to use, has the best rate for all the crypto, has great support staff, and plenty of trading partners. In short, they connect buyers and sellers together.
Where is Paxful located?
Paxful was founded in 2013 and their headquarters was held in New York with a lot of offices in the UK, currently, they have like 400 deducted employees globally.
People do ask if that is Paxful a US company, now the answer is Yes.
Is Paxful safe and secure?
Normally, an official company will along secure its platform and save its users from being scammed. This made it for them to have some legal rules and uses of their platform Paxful.
A quick and better way to have a safe trade on Paxful is when you make your account verified. Paxful has a different level of verification.
Verification method using ID card or Selfie when the high properly verification that second to the last and it’s more show that you are honest and willing traders.
So for P2P (peer-to-peer) transaction concerns then feedback is the best feature to be included even for the new or low profile to trade with someone else, the user feedback needs to push it hard.
Users with a large amount of positive feedback are generally a good sign of being a legit trusted partner to trade with but the question is “What if you still get scammed dealing with such a partner, the next option should you out.
Discussing disputes, it’s along ready to help you out whenever you are in trouble. It’s just like a method whereby you call out support/ moderators to assist you to intervene in the trading.
They revive all the discussions both you and your partner discuss during trading and come to conclusion than automatically closes the trade.
Two Factor Authentication (2FA)
Before I pause under this, the word “Paxful Safety”, you also have a way to protect yourself (Accounts), its best method of verification during some click task on the account. It’s the first line of defense and security against anyone and other aspects like logins, transactions, withdrawals, and send-outs.
And the end, seek a help center, even if you need to know about something important.
Read Also: Crypto credit cards – the perfect way to boost your budget! Click Here
Can I get scammed on Paxful?
There are some playful risks on the Paxful platform that can guarantee you 100% loss that you can get scammed. There are both spaces for buyer and seller and they both have pure/rules to obey if they don’t want to get scammed.
For buyer users
- Sellers asking you to cancel trade after you’ve paid. This must happen when the seller opens an order to sell while you as a buyer have made a transfer of the money to the seller. Kindly don’t cancel and seek moderator assistance if needed.
- Trading outside Paxful
This is the first and most popular way to get scammed on the Paxful platform even if we are to come to think of it, trading outside is not helpful because you won’t able to seek moderator assistance.
- Reversible Payment Method
Be assured and make sure that you as a seller use a reliable payment method by yourself to receive your payment. There is some payment method that a buyer can reverse some payment that is already made such as Paypal or credit cards after the trade is completed. The solution as a seller, you can request a chargeback of your payment by going to the classic dashboard and checking on view past trades then follow the procedure to request for a chargeback.
- Gift cards that have already been redeemed,
This is a common method, you can’t know if you have been ripped off but there are some gift cards that give you a charge to check your balance before you open a trade
- Buyers using a fake ID or a stolen credit card using a credit card or fake ID on blur image is somehow suspicious cause using a stolen credit card can cause a dispute on the transaction and you as a seller won’t know what the buyer makes use of to process payment. That is why it’s advisable to accept payment in that person’s name if you don’t mind.
Verification and Limits on Paxful
Verification is important as part of registration on Paxful, this gives you high priority chance to make use of any of their services without limitation.
Transfer, send and withdrawal also work along with verification. We have four (4) levels of verification and their limits
Verification needed – phone number
Limit – $1,000
Verification needed – email and ID
Limit – $10,000
Verification needed – address
Limit – $50,000 and trade and send are unlimited
Verification needed – enhanced due diligence
Limit – higher than $50,000 and trade and send is unlimited as well.
Paxful is an online marketplace where people can sell or buy Bitcoins, Ethereum, and other cryptocurrencies.
Paxful is a peer-to-peer bitcoin exchange.
Paxful is a digital currency exchange based out of Canada.