Everyone is encouraged to verify their accounts. However, Paxful do has mandatory ID verification for the following users only:
- Users who reach an equivalent of $1,500 in trade volume or wallet activity must provide ID for verification.
- Users who reach $10,000 in trade volume or wallet activity must provide ID and address verification.
- Users who reach higher trade volumes or engage in certain wallet activity may undergo enhanced due diligence and may be asked for additional information.
- All buyers of bitcoin for bank transfer must provide ID and address verification.
What if I don’t want to verify my account?
Those who choose not to participate can, of course, continue to use Paxful services but there will be a trade and wallet limit in place for those who have not verified themselves.