The Paxful team works hard to make trading clear and safe for all our users. To ensure that we always meet your safety needs, we recently expanded on a new feature called security deposits.
What are security deposits?
Security deposits allow Paxful sellers to commit to their sell offers, which means more completed trades, fewer cancellations, and a safer trading environment for all. Depending on where you are in the world and what payment method you’re using, security deposits can even be as low as 0.005 BTC. You’ll also receive your security deposit back seven days after your last trade with a security deposit—this includes successful and canceled trades.
How do security deposits work?
To create an offer on the platform and sell your BTC, you’ll need to place a deposit. Here’s how to get started:
- On your Dashboard, you can see how much is required for your offer to be activated. Keep in mind that specific offers can’t be activated until you meet the security deposit.
- Click on the Deposit button to deposit Bitcoin from your Paxful Wallet.
To withdraw your security deposit after seven days have passed, all you need to do is:
- Head back to My Offers in your Dashboard.
- Click on the Withdraw button and you’ll be notified once the funds reach your wallet.