Paxful offers a wallet service for Bitcoin. One of the features of this service is to send bitcoins to both internal and external cryptocurrency wallets.
Login to your Paxful account and click on "WALLET":
Click on "SEND BITCOIN":
Insert the exact Bitcoin amount into the "BITCOIN AMOUNT" field:
Insert correct Bitcoin address into the "TO BITCOIN ADDRESS" field:
Doublecheck the address! This transaction is irreversible!
Insert your password into the "PASSWORD" field:
Click on "Send bitcoin now":
If 2FA Security is set for send out option, you will need to insert an SMS code or code from Google Authenticator Application.
In case of success, you will receive the following message:
The transaction will be visible in your transaction history:
You can check transaction status here:
https://live.blockcypher.com/ or https://www.blockchain.com/explorer and type in the transaction ID into the search field. It should then show how many confirmations the transaction has. If it has 3 or more confirmations, the recipient should have received the funds.
Sending Bitcoin fees
- Paxful charges a flat send out fee of 0.0005 BTC for every send out from the wallet to an external Bitcoin address.
- This fee covers the associated miner fee and maintenance of our secure wallet infrastructure.
- Only the first 5 internal transactions per month are FREE. Starting from the 6th transaction - 1 USD fee applies.
An internal wallet send out fee of $1.00 has been established due to the high amount of off-escrow trades on our platform. Off-escrow trades are trades made without our consent as they happen out of our regular trade process. This fee is used to prevent certain users from abusing our Terms of Service.
Bitcoin rate differences
- Paxful uses average market Bitcoin currency rate.
- External wallet service may have different Bitcoin rate from Paxful. In the case of external service, Paxful cannot affect the currency rate seen in the recipient's wallet.
- Some cryptocurrency wallet services have a deposit fee. This is a fee deducted from incoming transactions.