Is ID verification mandatory?

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.

 

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