Is ID verification mandatory?

We encourage all our users to get their identity verified. However, verification is mandatory in the following cases:

  • Users who reach an equivalent of 1,000 USD in trade volume or wallet activity per year must complete ID verification.
  • All users from the USA, EU, Canada, UK, and OFAC grey list countries require ID verification to do wallet withdrawals and trades for any amounts.
  • Users who reach 10,000 USD in trade volume or wallet activity per year must complete ID and address verification.
  • Users who reach higher trade volumes or engage in certain wallet activity may be subjected to enhanced due diligence and may be asked for additional information, including video verification. 
  • Users trading bitcoin for cash in person and cash by mail for trades higher than 50 USD must complete ID and address verification.
  • Users wanting to create an offer to buy bitcoin must complete ID verification.
  • Users wanting to create an offer to buy or sell bitcoin for cash in person and cash by mail must complete ID and address verification.

What if I don’t want to verify my account?

Those who choose not to verify their ID or address can still continue to use Paxful services but they will be subject to a trade and wallet limit put in place for unverified users. Read more about verification levels here.

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