General Questions and Guides

  • I sent funds to the wrong address. How do I get them back?

    Sometimes you may accidentally send your cryptocurrency to the wrong wallet address.

    As cryptocurrency transactions are irreversible, they can neither be canceled nor reversed once initiated. In case you end up sending the funds to the wrong person, you may have to contact them and request a refund. If you don’t know whom the address belongs to, you can’t do anything else to retrieve the funds.

    Warning: Always double-check and ensure that the address you’re sending funds to, exactly matches the address of the recipient beforehand.

Tether (USDT) Wallet

  • Receiving and Depositing Tether (USDT)

    If you have a Tether wallet address and you’re looking to deposit USDT into your Paxful wallet, check out the steps below to get started:

    1. Log in to your Paxful account and head to the Wallet page.Send_-_Step_1_-_Final.png
    2. Click “Receive” under your Tether wallet.step_2_--_receiving_.png
    3. You'll now see your wallet address here, allowing you to copy and paste the address, or you can use the QR code. You’ll also see the current fee associated with receiving USDT in your Paxful wallet at this step. Please make sure the amount you’ll be receiving is worth more than the fee!Receive_-_Step_2_-_Final.png

    Notes:

    • After USDT is sent, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan to track. 
    • Not everyone has access to a Tether wallet address right now. If you do not have one but you’d like one, please reach out to our support team for more information.
  • Sending Tether (USDT)

    Sending Tether (USDT) from your Paxful wallet is easy! Check out the steps below to get started:

    1. Log in to your Paxful account and head to the Wallet page.Send_-_Step_1_-_Final.png
    2. Click “Send” under your Tether walletSend_-_Step_2_-_Final.png
    3. Enter in the amount of USDT that you’d like to send and the recipient’s Tether address. Once that’s done, hit “Continue”.Send_-_Step_3_-_Final.png
    4. Next, you’ll see a confirmation page. Double check that your recipient’s address is correct here! If you're sending Tether to an external wallet, you will also see the current fees associated with this transaction at this step. To learn more about this fee, check out this article. Once you’re ready and you’ve confirmed all of the information is correct, hit “Send Tether now” and you are good to go!new_send_step_4.png

     

    Notes:

    • You can send USDT internally to another Paxful wallet address up to 5 times a month with no network fee. After those five transfers, you will be required to pay the network fee. For more information on fees, check out this article.
    • After USDT is sent, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan to track.

    Warning: If you are in an OFAC grey country, you’ll need to be ID verified to send funds out of your Paxful wallet.

  • Tether FAQs
    What is Tether?
    Tether (USDT) is a stablecoin that is worth around 1 USD. The rate can fluctuate a bit, but it's a 1:1 representation of 1 US dollar on the Ethereum blockchain.
    Who can trade Tether on Paxful?
    Only ID-verified users can trade or convert Tether (USDT) on Paxful.
    What are the fees for converting USDT?
    For the full breakdown of Tether fees, check on this article.
    Can my Tether transaction be cancelled or reversed?
    Unfortunately, transactions on the blockchain can’t be cancelled or reversed. For more information, check out this article.
    What is the minimum USDT amount I can sell, buy, or convert?
    With Paxful, the minimum amount you can buy, sell, and convert is 10 USDT.
    How can I buy or sell Tether?

    You can buy or sell Tether the same way as you would buy or sell Bitcoin in the marketplace! 

    • Head over to the buy and sell pages to see a list of the current Tether offers. 
    • You can also create your own Tether offers (just make sure you’re ID verified!).
    • You can also convert your BTC into USDT in your Paxful Wallet. Check out this article for more information.
    How do I get a Tether wallet address?
    If you don’t have a Tether wallet address, please contact our support team through the "Contact Paxful" widget on our homepage and select “I don’t have a Tether address” under “Wallet”. From there, our team will see what we can do to help.Contact_us.png

Bitcoin Wallet

  • I sent Bitcoin from Paxful wallet but it doesn't appear on the recipient's balance

    Sometimes the Bitcoin you send from your Paxful wallet may not appear in the recipient’s wallet balance. This doesn’t mean that your funds are lost. Here are some steps for you to figure out what could have happened:

    1. Ensure that you’ve sent the Bitcoin to the correct recipient’s wallet address. You can check this by going over your transaction history.
      • If the recipient’s wallet address is correct, go to the next step.
      • If you have used an incorrect address, go to this article about recovering funds sent to the wrong wallet address.
    1. Check the transaction status on Blockcypher.com or Blockchain.com
      • If you see less than three confirmations, give the transaction some more time to be processed  (this may take up to 24 hours). 
      • If you see three or more confirmations, contact the recipient’s wallet service provider to investigate this situation further.

    Note: Don't worry! If you've entered the correct recipient's wallet address, your funds will be recovered.

  • Bitcoin was sent to my Paxful wallet but I don't see it on my balance

    You may notice that the Bitcoin sent to your Paxful wallet (by yourself or a third party) isn’t showing up on your balance. This doesn’t mean that your funds are lost. Here are some steps that you can take to fix this:

    1. Make sure that the funds were sent to the correct wallet address. If they were sent from an online wallet, check the transaction history. If they were sent from an ATM, check the transaction history and the receipt.
      • If the recipient’s wallet address matches your wallet address, go to the next step.
      • If the address is incorrect, go to this article about recovering funds sent to the wrong wallet address.
    1. Check the transaction status on Blockcypher.com or Blockchain.com
      • If you see less than three confirmations, give the transaction some more time to be processed (this can take up to 24 hours). 
      • If you see three or more confirmations, go to the next step.
    1. Check your wallet page for notifications and our Twitter feed for any announcements. 
      • If you see a message on your wallet page or on our Twitter, just wait for further updates.
      • If there is no information about any technical issues, contact Support right away. Make sure you have provided us with the recipient’s wallet address and transaction ID.

    Note: Don't worry! If the sender has entered the correct recipient's wallet address, your funds will be recovered.

  • Can I withdraw Bitcoin from Paxful wallet to my external wallet?

    You can easily send your Bitcoin from your Paxful wallet to an external wallet from the Wallet page. We support all major Bitcoin wallet types, however, there is an exception. 

    There are three Bitcoin address formats currently in use:

    1. P2PKH addresses which begin with the number 1.
      Example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2.
    2. P2SH addresses starting with the number 3.
      Example: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy.
    3. Bech32 addresses also known as "bc1 addresses" starting with bc1.
      Example: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq.

    Bech32 is supported by the majority of software and hardware wallets, but only a few exchange platforms.

    Paxful Wallet allows withdrawals to P2PKH, P2SH, and Bech32 addresses.

    Additionally, see how to send Bitcoin from your Paxful wallet and the details of Paxful fees.

  • How to check Bitcoin transaction status?

    If you send Bitcoin from one Paxful wallet to another, transactions are instant. However, if you make transactions from or to an external wallet, you may need to monitor the process. Here’s how to check the Bitcoin transaction status:

    1. Look for the transaction ID. You can find it in the transaction history of the sending wallet provider or, in case of ATM, you will see it on the screen and on your receipt. It will look something like this: e2e400094he873ec4af1c0ae7af8c3697aaace9f7f56564137dd1ca21b448502s

    2. Go to https://live.blockcypher.com/ or https://www.blockchain.com/explorer and type or paste the transaction ID into the search field. You can see how many confirmations your transaction has.

      If it has three or more confirmations, the recipient should have received the funds. If the transaction still hasn’t appeared in the recipient's wallet, then reach out to the recipient's wallet provider.

      If the transaction has less than three confirmations, the funds have left the sending wallet but the transaction is still in progress. If your transaction says “No Transaction Found”, then the transaction never left the sending wallet. In that case, you should contact the service provider of the sender’s wallet.

    See our guide on how to deposit Bitcoin to your Paxful wallet and how to send funds from your wallet. Additionally, here’s a quick look at the Paxful fees.

  • Receiving and depositing Bitcoin

    When you sign up on Paxful, you get a free Bitcoin wallet. With this free wallet, you also get a default Bitcoin address. This address looks like a long complex password with numbers and letters (both uppercase and lowercase) in no apparent sequence. 

    This address never expires, so just copy it and use it to receive Bitcoin from other wallets or Bitcoin ATMs. You can also generate a new Bitcoin address for extra privacy/security. You can create as many Bitcoin addresses as you want and use them any number of times.

    When other people send Bitcoin to this address, it goes straight into your wallet. It’s not always instant. This is because Bitcoin transactions are non-reversible and hence, the Bitcoin network needs to confirm the transaction three times before the Bitcoin is released into your wallet. So be patient and give it some time. Once the Bitcoin is sent, you should get a notification saying “incoming Bitcoin at 0 confirmations” or "Unconfirmed". When that count reaches 3, you should see your Bitcoin in your wallet. This can take anywhere from 20 minutes to a couple of hours depending on how congested the Bitcoin network is.

    To deposit Bitcoin to your Paxful wallet:

    1. Log in to your Paxful account and click Wallet.
    Deposit1.png

    The Wallet page appears.
    2. Copy the wallet address from the screen or click COPY ADDRESS.
    If the app or ATM you are using to send Bitcoin to your Paxful wallet has an option to scan  QR-code, simply scan the QR-code from your Paxful wallet.
    Screenshot_2020-02-06_at_15.23.38.png

    Note:

    • You can click Get a new address to generate a new additional address with a new QR-code.
    • Usually, after scanning the QR-code, apps or ATMs do not make an instant transfer but simply download the wallet address into their system. So if you scanned the wrong address, you still have the opportunity to cancel the transaction.

     3. Enter your Paxful wallet address into the app, website, or ATM. If you have scanned the QR-code, your wallet address appears on the screen of the app or ATM automatically.
    4. Confirm sending Bitcoin to your Paxful wallet.

    Warning: Make sure that you are sending Bitcoin and not any other cryptocurrency (Litecoin, Bitcoin Cash, Ethereum, etc.). Such transactions can result in a loss of your funds.

    Note:

    • Make sure you have enough funds in the sending wallet or ATM. Be aware of the minimum BTC transaction amount.
    • Remember that the person sending the Bitcoin will bear the transaction fee. Usually, the amount you send, the amount you will be charged as a network fee, the total amount deducted from your wallet are clearly shown to you before you confirm the Bitcoin transfer.

    Wait for your BTC to arrive and start trading as soon as you are ready. You can also always check your Bitcoin transaction status.

    Additionally, see how to send Bitcoin from your Paxful wallet. If you want to start trading, check out the following guides: creating sell Bitcoin offer and selling Bitcoin.

  • Sending Bitcoin

    Paxful offers a free wallet service for Bitcoin. One of the features of this service is to enable you to send Bitcoin to both internal and external cryptocurrency wallets. To send Bitcoin from your Paxful wallet:

    1. Log in to your Paxful account and click Wallet.

    Deposit1.png
    The Wallet page appears.
    2. Click SEND BITCOIN.
    Screenshot_2020-02-06_at_17.53.35.png

    The Send from Paxful wallet dialog box appears.
    3. Enter the Bitcoin amount into BTC AMOUNT field, the recipient’s Bitcoin address into TO BITCOIN ADDRESS field and click Continue.
    send3.png
    4. Double-check the receiver’s Bitcoin address and the amount you are sending. In case you have enabled 2FA for sending Bitcoin, enter your 2FA one-time password into the 2FA Code field and click Send bitcoin now.
    send4.pngYour Bitcoin is sent successfully and you are redirected to the Wallet page.

    Note: To be extra sure of the transaction status, go to the Transactions tab and check your last outgoing transaction. If you made a transaction to a non-Paxful wallet, read our article on how to check transaction status for such transfers.

    Warning: If your country is in the OFAC grey list, sending Bitcoin to an external wallet requires you to verify your ID.

    To send Bitcoin to your Paxful wallet read how to deposit Bitcoin. Learn more about  Paxful wallet fees from our knowledgebase.

     

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