• Paxful escrow

    Paxful’s escrow feature aims to ensure a fair trade experience for both parties. Paxful is a peer-to-peer bitcoin marketplace where people can meet and safely trade bitcoin using over 300 payment methods. When a trade starts, the bitcoin from the seller’s wallet is automatically moved into a temporary safe deposit account (escrow) where it will be held until the transaction is complete.

    So how does the escrow work?

    When a trade starts, the seller’s bitcoin is automatically transferred into our secure escrow. 

    Note: The amount transferred into the escrow is the trade amount plus escrow fee.

    How escrow helps bitcoin buyers: If you as a  buyer make the payment but the seller refuses to release your bitcoin, the secure escrow serves as a guarantee. The seller’s bitcoin will stay in escrow until our moderators step in to investigate the situation and award the bitcoin to the deserving party.

    How escrow helps bitcoin sellers: Sometimes a buyer may not be able to finalize the payment for the bitcoin. If you’re the seller in this case, then your bitcoin is safely returned back to your wallet.

    Once the payment is made and confirmed, the seller can release bitcoin from escrow to the buyer, and this will mark the completion of the trade. 

    escrowImage.png

    Here is more information on how you can start a dispute. Also, check how you can contact our 24/7 dedicated customer support team.

  • Paxful trades flow

    All Paxful trades flow in a similar way. However, you may encounter some specific cases depending on the payment method you choose. If you familiarize yourself with the process, it’ll make trading on Paxful a lot easier.  

    Buying bitcoin

    Find an offer on our Buy Bitcoin list. For more information on how to buy bitcoin see our guide.

    You can also create your own offers directly from your Paxful account. See our short guide on how to create your first offer.

    Selling bitcoin

    Find an offer on our Sell Bitcoin list. For more information on how to sell bitcoin see our guide.

    You can also create your own offers directly from your Paxful account. See our short guide on how to create your first offer.

    Note: Some payment methods on our platform have automated trade flow. Here is the list:

  • Trade status

    Trade statuses determine the progress of your trades. 

    Each trade on Paxful may have a different status. You can see the exact status of your trades from your dashboard. There are eight statuses your trade could possibly have:

    Active funded – a trade has started, and funds have been transferred from the bitcoin seller’s wallet into trade escrow.

    Paid – a buyer has marked the trade as paid. It means that a buyer of bitcoin is sure that he has made the payment and has actually clicked the Paid button.

    Expired – every trade has a payment window for a buyer to make a payment. When a trade is funded, but a buyer failed to mark a trade as paid, the payment window expires. This status means that a trade has been cancelled.

    Cancelled – a buyer or a seller has willingly cancelled a trade.

    Dispute open – a buyer or a seller has opened a dispute.

    Successful – a seller of bitcoin has released funds from the trade escrow to the buyer’s wallet.

    Awarded seller – a dispute has taken place, and bitcoin was awarded to the seller of bitcoin.

    Awarded buyer – a dispute has taken place, and bitcoin was awarded to the buyer of bitcoin.

  • Watermarking images

    Why Paxful watermarks images?

    You may have noticed that all images uploaded in trade chat have a watermark with a trade number and our platform's name. This is a security measure, which prevents sensitive information such as gift card images from being used in fraudulent activities such as irresponsible re-selling or brokering. We want to prevent scammers from re-selling any gift cards which they manage to obtain on our platform.

    When images are not watermarked?

    There are also reasons for possessing a clear non-watermarked picture. One of those reasons, for example with gift cards, is to solve any questions with the gift card company. So how to get not watermarked images?

    1. The KYC/ID verification process should be completed and successfully confirmed.
    2. Images in the trade chat will then be shown without a watermark 24 hours after the bitcoin has been released.
  • Gift card trade specifics

    Gift cards are one of the most popular ways that the unbanked use to earn bitcoin and enter the peer-to-peer economy. However, using gift cards to trade for bitcoin poses certain risks and we want you to be aware of these important specifics. At Paxful, we do our best to minimize all the downsides and foster a safer trading environment, but it’s imperative that you know how to protect yourself while trading. Here are some main cornerstones to consider:

    1. Gift card seller 

    1.1 High number of bad cards/codes. 

    The percentage of codes that may be inactive or invalid is relatively high. Depending on the market and gift card type, you may find anywhere between one and five invalid codes out of 10 codes.

    Solution: To relieve this situation, we have expanded our customer support team and are using more advanced technology to make it more difficult for invalid codes to get into our platform.

    1.2 Coin locking. 

    Gift card sellers may not always be certain about the validity of their codes. Still, they may keep the trade active by insisting that their cards are valid. When a buyer doesn’t trust the code and initiates a dispute, the bitcoin of a gift card buyer remains immobile and locked in the secure trade escrow.

    Solution: For such cases, we have an efficient dispute-handling procedure that decreases the handling time significantly and releases bitcoin back to the bitcoin seller quickly.

    1.3 Brokering. 

    Some of our users neglect the details in our Terms of Service and attempt to re-sell the same gift card multiple times — this is a violation of our TOS. Brokering, or reselling gift card codes, is fraudulent behavior and poses risks and time loss for gift card buyers.

    Solution: To counter this, we have grown our dispute-handling teams significantly across the globe. All confirmed brokers are subject to getting banned from our platform.

    2. Gift card buyer

    2.1 Unauthorized use of codes by bitcoin sellers. 

    In some cases, you may encounter a bitcoin seller with fraudulent intentions. Such traders redeem valid codes but deny having done so. This is a complicated issue — please see more details in the next point.

    Solution: Paxful invests heavily in tools that help in the investigation and KYC process to check our bitcoin sellers’ background and transaction history.

    2.2 Bitcoin sellers (vendors) are favored during disputes. 

    Bitcoin buyers who bring gift cards to our platform may have the impression that bitcoin sellers have an advantage during disputes.

    Here’s why: 

    • A high percentage of cards offered in trades by gift card holders is invalid.
    • Many gift card sellers refuse to provide proof of card ownership.
    • Inexperienced gift card holders start a trade without reading offer terms and instructions.
    • Some gift cards cannot have their balance checked.

    2.3 Unresponsive seller. 

    This happens when the bitcoin seller stops communicating and does not release bitcoin even after the gift card seller provides a code. This may be due to specific trade flow, usually mentioned in the seller’s offer instructions, but it may also be the seller using the code without paying the gift card buyer. The latter then is left with the only option to cancel the trade.

    Solution: We have increased the staff number in our Support Team so that we can assist gift card sellers as quickly as possible.

    3. Evidence required for disputes

    The following items are required as evidence to facilitate a smooth and fair resolution of any trade disputes:

    3.1 A photo of the original gift card with your Paxful trade chat clearly visible in the background.

    Edited or photoshopped images are not accepted.

    3.2 A complete photo of the original receipt. 

    All four corners of the paper receipt must be visible in the photo.

    3.3 For electronic codes (e-codes), an invoice for the original payment and a video recording of the bank statement as proof of purchase.

    E-codes require clear proof of ownership just as physical gift cards do.

    3.4 Proof of exchange between the third party’s customer support.

    We may request the gift card seller to contact the gift card company for additional evidence.

    4. Long dispute handling time

    4.1 Average dispute handling time may be up to three weeks.

    The volume of bad trades involving used gift card codes impacts the handling time for gift card disputes.

    4.2 Disputes take a long time due to the following factors:

    • High volume of disputes.
    • Complete lack or partially presented evidence from both sides.
    • No special agreements between Paxful and gift card companies.
    • Unresponsive users.

    5. Irresolvable disputes

    A dispute may go unresolved under the following circumstances:

    5.1 Neither side managed to provide adequate evidence to our moderators.

    With some disputes, our moderators simply do not receive enough cooperation from either side. This may render a dispute-solving process close to impossible.

    Solution: By implementing more strict ID verification requirements, Paxful aims to decrease the number of irresponsible users in general.

    5.2 The gift card balance cannot be checked for some gift card types.

    It is very important to remember that Paxful is an intermediate platform. We do not possess special tools to check personal e-codes or gift cards.

    Solution: To avoid such a scenario, we invest in advanced ID verification tools and check suspicious users’ transaction history closely.

    If you’d like to learn more about buying bitcoin with gift cards, please click here. We also have an article and a video to guide you through disputes. If you have lost a gift card dispute, please see additional information here.

  • Using Gift Code Check

    Gift Code Check is specifically designed for trades using discount gift cards. This feature gives an opportunity to upload all necessary proofs of purchase and ownership before the actual trade starts. As a result, bitcoin sellers can avoid unresponsive trade partners. This guide will show how to use Gift Code Check from both the bitcoin seller’s and bitcoin buyer’s perspectives.

    Currently, the Gift Code Check is available for the following card types:

    • iTunes
    • Amazon
    • Google Play
    • eBay
    • Steam Wallet
    • Playstation
    • Xbox

    Using Gift Code Check as a bitcoin seller

    Before a trade

    To begin with, simply create an offer as usual.

    While creating an offer, simply choose gift cards as a payment method. And on step 3 of offer creation flow (Trade instructions), add the "Automated" tag into the offer tags field.

    Automatedtag.png

    Additionally, you can choose other offer tags according to your needs, however, some offer tags will trigger certain corresponding restrictions on the offer. For example, the “physical cards only” offer tag will remove the option to upload e-codes to your trade chat. Selecting the “no receipt needed” tag, will remove the option to upload a proof of purchase from the trade flow, and the buyer will not be able to send this information to you before the trade starts.

    Tags.png

    From this point on, follow our usual guidelines for offer creation.

    During a trade


    1. Once a trade has started, click View receipt in the trade chat.

    ViewReceipt1.png

    The receipt of purchase dialog window appears.

    2. Review the proof of purchase and click Accept & Reveal Gift Card.

    AcceptReceipt.png

    The Gift card details box appears in the trade chat.

    Note: You can click Decline & Cancel trade, to cancel the trade.

    Tip: Click View original image for a better view of the picture.

     3. Click View card image to reveal the image of the gift card or Copy code to clipboard to use the gift card code.

    ViewCard.png

    4. After checking the validity of the gift card code, click Release bitcoin, and follow the next steps as usual.

    ReleaseCoin.png

    Note: If you face any issues with the code, click Dispute to invite our moderators for an investigation.

    Using Gift Code Check as a bitcoin buyer

    Note: 

    • Only one card can be used per trade. The card you have must match the value of your trade offer exactly.
    • Use a card in the same currency as stated in the offer terms.

    1. On the offer page, click Submit gift cards.

    Submitcards.png

    A warning dialog box appears.

    2. Read the warning messages with additional instructions and click Continue.

    WarningMessage.png 

    Gift Code Check page appears.

    3. To choose your card type, click on one of the options in the list.

    ChooseType.png

    Note: If your offer has a tag such as “e-gift cards only” or “physical cards only”, this step will be handled automatically.

     4. To upload a receipt for your gift card, click Upload receipt.

    UploadReceiptStart.png

    The Select Files to Upload dialog window appears.

    SelectFile.png

    5. Select the file and click Upload.

    UploadReceipt.png

    Note: If your offer has the tag “no receipt needed”, this step will be removed from the flow.

    Warning: Make sure your gift card code is not visible on this image! Bitcoin seller can easily cancel the trade after viewing this picture.

     6. To upload a gift card image, click Upload image.

    UploadImageStart.png

    The Select Files to Upload dialog window appears.

    SelectFile.png

    7. Select the file and click Upload.

    UploadImagelast.png

    Note:  If you’re trading an e-card, this step is removed from the flow.

    8. Enter the code into the Gift card code field, enter the card value into the Card amount field and click Save card & continue.

    SubmitCard.png

    Note:

    • Click Delete card to submit a different card.
    • Click Back to offer to return to the offer page.

    The trade chat page appears. Wait for the bitcoin seller to view your receipt, check your card, and release bitcoin into your wallet.

    Tip:

    • To view more information about your trade partner, click Show details on the top right corner.
    • If your trade gets canceled, your gift card details are stored in our database. Before your next trade, click Submit gift cards and select one of your saved cards from the dialogue box that appears.

     SavedCards.png

    See our article about gift card trades specifics. Also, check our guide on how to create an offer to sell bitcoin and our tips to buy bitcoin, in case if you want to buy bitcoin.

  • Why can't I use my gift card in a trade?

    During our automated gift card trade flow, it may happen that your gift card code gets rejected. The main possible reason behind this is that we have detected this gift card in another trade. Please be reminded that you can sell a gift card only in one trade at once. Brokering and selling cards to more than one user at the same time is strongly prohibited by our Terms of Service.

    If you get an error message and you are sure not selling the card in another trade, please contact our support team for assistance.

  • Security deposit for gift card trades

    Paxful security deposit is for the vendors who trade bitcoin for gift cards. A security deposit borrows the funds for a defined period of time. Every seller on Paxful who trades bitcoin using a gift card offer is required to upload a security deposit to ensure the safety of Paxful buyers. On Paxful, the required security deposit is 0.1 BTC 

    Note:

    • The security deposit is for gift card trades only. For other payment groups like cash, online wallets, and debit/credit cards, a security deposit is not required.
    • If you don’t have enough BTC in your account to cover the security deposit, your offer will not be activated.
    • Your deposit amount is released 7 days after your last gift card trade.
    • Some users may have a flexible security deposit logic, read more here.
    • You can manage your security deposit on your Dashboard.

    Uploading security deposit


    1. Login to your Paxful Account. On the header bar, click Dashboards.

    ClickDashboards.png

    The Dashboard page appears.

    Note: You can use both Vendor Dashboard and Classic Dashboard to manage your security deposit.

    2. Above the My Offers list on the Security deposit dashboard, click Deposit.

    ClickDeposit1.png

    A confirmation window appears.

    Note:

    • If you click Deposit on the Security deposit dashboard, a full missing amount will be uploaded.
    • If you click Deposit on the offer field of one of your offers, the exact amount required for the specific gift card type will be uploaded. For more information click here.

    3. Read the message carefully and click Deposit to confirm the transaction.

    ClickDeposit2new.png

    A notification appears confirming that your BTC were deposited from your wallet to Paxful secure escrow.
    The deposited amount is shown on the Security deposit dashboard.

    DepositDashboard.png

    Note: You do not have to deposit BTC for each offer or payment method separately. Your deposit covers all offers and all gift card types.
    Example: You have offers that require 0.1 BTC, 0.2 BTC, and 0.3 BTC. If you deposit 0.3 BTC all of your offers become active and visible for your potential trade partners.

    Withdrawing security deposit

    1. Login to your Paxful account. On the header bar, click Dashboards.

    ClickDashboards.png

    The Dashboard page appears.

    Note: You can use both Vendor Dashboard and Classic Dashboard to manage your security deposit.

    2. Above the My Offers list on the Security deposit dashboard, click Withdraw.

    ClickWithdraw1.png

    A confirmation window appears.

    3. Read the message carefully and click Withdraw to confirm the transaction.

    withdrawCorrected.png

    A notification appears confirming that your BTC were transferred from Paxful secure escrow to your wallet.

    Note:

    • It is possible to withdraw your security deposit only seven days after your last gift card trade. This includes successful and cancelled trades for all gift card types.
    • If you did not have any gift card trades, you can withdraw your deposit at any time.

    Flexible security deposit 

    How can I know if I have flexible security deposit logic applied to my account?
    You will receive a notification that your offer is deauthorized and requires a higher amount of security deposit to become active again. You will see a new deposit amount on your security deposit dashboard. 
    SecuritydepositUpdated.png
    I already have a trading history. Once activated, based on which information the new security deposit logic calculates the amount of my deposit?
    The analysis of the trade activity starts after the feature is activated. Initially, the standard amount of 0.1 BTC is applied.
    I am a user without a trading history. Based on which information the new security deposit logic calculates the amount of my deposit?
    Initially, the standard amount of 0.1 BTC is applied.
    How does the amount of security deposit change?
    According to your trading activity, the amount of deposit may become higher 0.1 BTC or lower.
    Based on which information my security deposit becomes higher or lower?

    The following factors affect the change of your security deposit:

    • % of disputes
    • % of cancelled trades after bitcoin buyer has marked trade as paid
    • % of cancelled trades after a dispute has started
    • % of successful trades (trades without disputes, cancellations, etc.)
    • how quickly you respond to your trade partners
    Does my trading activity affect all gift card types at once or it is calculated separately for each gift card type?
    The security deposit amount is calculated separately for each gift card type. Eventually, for example, it is possible to have one deposit requirement for Amazon gift cards and another for iTunes. Here is an example of how you may see it on your Dashboard:
    differentAmounts.png
    How often my security deposit amount gets updated?
    Your security deposit amount is recalculated after each trade.
    Do I have to upload a security deposit for each offer separately?

    No. Your security deposit covers all your gift card offers at once. The deposit is not per offer but per user.

    Example: You have three offers that require a deposit of 0.1 BTC. By uploading 0.1 BTC once, all of these offers become available for trading.

    Example: You have three types of offers with different deposit requirements. One type requires 0.1 BTC, another 0.3 BTC, and the third one 0.7 BTC. By uploading 0.3 BTC, all your offers with 0.1 BTC and 0.3 BTC become active. By uploading 0.7 BTC all your offers become available for trading.

    Once my deposit amount changes, will the system tell about it upfront or offers will be deauthorized right away?
    If your security deposit amount becomes higher, you receive a notification that your offer became deauthorized.

    Find out more about how to create an offer to sell bitcoin and read more about gift card trade specifics.

     

  • Writing good trade instructions

    Unlike the offer terms, you would want the offer instructions to be as detailed as possible. Give clear instructions of what you need from the buyer and explain the steps that lie ahead (such as info on documents such as receipts or photos you may require). Remember that a user sees trade instructions when the trade starts, so here you can put the information that you want to provide after the user accepts the offer terms. Instructions are added in the third step of the offer creation flow.

    Note: Before you start, make sure that your instructions are in line with Paxful's Terms of Service.

    What not to do:

    1. Don’t suggest to trade outside escrow. Any suggestions to trade off-site are strictly forbidden and this kind of activity will get you banned from Paxful.
    2. Don’t give any personal contact information. 
    3. Don’t give links to outside sites or share URLs. You must process the payment on Paxful.

    Examples 

    iTunes gift cards

    1. Upload a picture of your physical card with the code clearly visible. For blurry photos, please type the code into the chat also.
    2. If your card doesn’t mark the value, please tell me the denomination.
    3. Wait for me to check the card and release bitcoin. Remember to click the “I have paid” button.
    4. If for any reason you don’t want to continue the trade with me, cancel the trade to let me trade with others instead.

    Amazon gift cards

    1. Upload a picture of your physical card with the code clearly visible. For blurry photos, please type the code into the chat also.
    2. Upload a picture of the receipt showing that the card was purchased with cash.
    3. Wait for me to check the card and release bitcoin and remember to click the I have paid button.
    4. If for any reason you don’t want to continue the trade with me, cancel the trade to let me trade with others instead.

    Paypal

    1. Upload a picture of your full screen showing that the funds are already available in your PayPal balance. 
    2. Share your PayPal email.
    3. Show a proof that your account is verified
    4. After you have done the above, I will then send you the email account to send funds to.
    5. Funds must be sent as “goods and services”. 

    Western Union

    1. Send the funds via cash to the following NAME_HERE, ADDRESS_HERE, etc…
    2. Provide me with the following info in the chat: sender name, sender city/state, sender phone number, and the exact payout amount in USD or local currency.
    3. Click the I have paid button and wait for me to pick up the funds and release bitcoin.

    Read more on our rules for selling bitcoin, tips for buying bitcoin, and our guide on writing good offer terms.




  • Unresponsive trade partner

    Are you selling bitcoin and your buyer ends up not responding?

    Don’t worry because as long as the buyer hasn’t clicked I have paid button your bitcoin will be freed from trade escrow once the trade expires. 

    If the buyer clicks I have paid but you don’t receive any payment, you can ask the buyer to cancel the trade. If the buyer doesn’t cancel the trade, you can click Dispute. Once a dispute has started, give time to our moderators to look into the situation. 

    Are you buying bitcoin and your seller ends up not responding?

    If you have started a trade and a seller seems to be offline or doesn’t reply to you, the best you can do is cancel the trade and try your luck with the other seller. 

    If a seller was responsive, approved the payment, and then became unresponsive, you need to click I have paid so that the trade doesn’t expire. If the trade expires, the seller gets his bitcoin back from the escrow. 

    If you forgot to click I have paid button, but payment has been already done, it’ll be much harder to get your coins. In such a case please contact our Support.

    See more information about disputes in our dedicated article.

  • Potential risks when trading cryptocurrency

     Like with any other type of investment, there are certain risks involved with trading bitcoin on Paxful.

    Part of protecting your investment involves familiarizing yourself with all the risks that come with trading crypto. Being aware of these risks puts you in a better position to make a profit off your bitcoin. In this article, we’ll cover most of the risks both sellers and buyers may encounter while trading crypto on Paxful.

     

    Risks for buyers on Paxful

    If you’re new to our marketplace, some dishonest users may try to take advantage of you. Here are a few ways they can do this:

    Sellers asking you to cancel the trade after you’ve paid

    This is a common tactic used by scammers where they’ll ask you to cancel the trade after you’ve paid for the bitcoin. For example, if you’re trading a gift card and you’ve uploaded all the details of your gift card, then you put yourself at the risk of giving them those details for free. The scammers can then use the gift card right away, and if you cancel the trade, the bitcoin will be released from escrow back to them as well. So essentially, they get the gift cards for free, and you lose your bitcoin unnecessarily.

    If a seller ever asks you to cancel the trade after you’ve paid, never do. Click I have paid and start a dispute. The moderators will then investigate the trade and award the bitcoin to the deserving party. Be ready to provide additional proof if the moderators request it, and extend your full cooperation to their investigation. 

    Another tip to protect yourself from being scammed is to make sure that the seller is online before you upload any documents and make any payments.

    Note: Reselling gift cards is strictly prohibited and is against our Terms of Service. Make sure that you buy gift cards from the shop and you are the original owner of the gift card.

    Trading outside Paxful

    Many scammers will try to get you to trade outside of Paxful. They will ask for your contact details and try to get in touch with you outside our marketplace. If you agree to trade outside our platform, you lose the protection of our secure escrow. So, there are no guarantees that the seller will send you the bitcoin once you’ve made the payment. And, our moderators can’t step in and help you out as the trade happened outside our platform and we have no control over it. Remember that the escrow system is in place for your protection, whether you’re a buyer or a seller.

    Risks for sellers on Paxful

    Just like buying bitcoin, there are also a few risks that you have to look out for while selling bitcoin on Paxful. Familiarizing yourself with these risks will help you protect your funds.

    Reversible payment methods

    Some payment methods (such as PayPal or credit cards) on Paxful are reversible, meaning that they allow the payer to request a refund. One common tactic that scammers use is to trade using these payment methods and then later ask for a chargeback. For example, they would tell their credit card company that it was not them who made the transaction. In the case of PayPal, they would say that they did not receive the goods. PayPal normally sides with the buyer first but you can submit your evidence and hope that they refund your money.

    So what do you do when you get a chargeback? The first step is to go to your seller dashboard and click view past trades. Click the trade wherein you got the chargeback and you should be able to see the trade page. Scroll down and under your instructions, you should be able to see the receipt of the trade.

    Gift cards that have already been redeemed

    This is another common method that scammers use. Buyers would upload details and images of gift cards that have already been used. 

    It’s important that you never release the bitcoin before you check the balance available on the gift card. Make sure to redeem it and have the balance reflect in your account before you release the bitcoin. Do this quickly as well, as the buyer may try to sell the same card to another seller at the same time. At the same time, be wary as scammers will try to hurry you up by saying that they’re in a hurry and ask you to release the bitcoin quickly.

    Buyers using a fake ID or a stolen credit card

    Credit card companies usually cover their users from fraud. If their customers report that their card was stolen, they’ll invariably block the transactions. This is why it’s important to check the users’ identity and ask for a selfie to prove that they are who they claim to be. Be wary of blurry images where the face and names might not be clearly visible. If a user is genuine, they are usually willing to do everything required from their part, to ensure a smooth transaction. Although, some may refuse to give you their ID as they may consider it sensitive information. It’s up to you what kinds of proof you want to accept for the trade, but keep in mind that the more evidence you have, the more leverage you’ll have against the scammer.

    The user is “very busy”

    The user being “very busy” is usually a red flag when you’re trading on Paxful. As mentioned earlier, some users might rush you into releasing the bitcoin quickly, telling you that the payment has already been made or that they’re in the process of making the payment. What may really be happening is that the buyer has received the bitcoin, and immediately sends it to a different wallet (outside of Paxful), and once they have the bitcoin somewhere we can’t get to, they can get away without making a payment for the bitcoin. 

    Be extra cautious with users who say that they’re really busy. Of course, it may not always be the case that the user turns out to be a scammer, but keep your guard up at all times. Both parties—buyer and seller—must carefully follow the trade instructions provided by the other party, and finish the trade when all conditions that they agreed on have been met.

    For more information on how to secure your bitcoin, take a look at our security guide.

     

     

  • Trade Page Lite

    Paxful has created a simpler and smarter approach to trades. Now you can trade without time-consuming trade chats. It becomes possible as the most important trade instructions and requirements are now part of the trade process itself. The requirements, which affect the trade flow directly, are chosen by the seller of bitcoin during the offer creation process. Here is an overview of the feature.

    Note: For now, this option is available only for offers to sell bitcoin for PayPal transfers.

     

    Creating an offer

    With the simplified version, you go through a similar process as with the classic version. However, you have additional payment specific requirements to choose from. Chat is avoided as trade instructions and requirements are integrated into the trade flow. Here is an example of such a process with a PayPal offer:

    1. Start creating an offer to sell your bitcoin as usual.

    clickSellOffer.png

    2. Select PayPal as a payment method.

    SelectPayPal.png

    A new section appears below the list of payment methods.

    3. Click Lite trade to apply automated trade flow for your offer.

    ClickLitetrade.png

    A list of options appears below.

    4. Select the ID proofs you want to request from the buyer.
    SelectProofs.png

    Note: ID request can be removed from the trade process if you have already traded with the buyer before and if the buyer has successfully verified his ID with our Compliance Team.

     5. Scroll below and tick the Proof of payment box if you want the buyer to upload proof of payment during the trade process.

    6. Type in your email in the Your PayPal email field.

    Note: We will show your email address to the buyer only after you view and approve any proof you have requested from them.

    ProofandEmail.png

    7. Proceed with the offer creation flow as usual.

    Trading as a seller of bitcoin

    Step 1

    1. When a trade starts, wait for the buyer to upload the documents. Optionally, click Chat with buyer to switch to classic trade chat.

    SellerWaiting.png

    Once the buyer uploads all proofs, they appear on your screen.

    Note: On this stage, only the buyer can cancel the trade.

    2. Review the proofs and click Accept near to each image.

    Note: If you do not accept a proof, click Reject. The user will try to upload a new file.

    SellerclickAccept.png

    Step 2

    1. Wait for the buyer to make the payment. If necessary, start a chat with a trade partner by clicking Chat with buyer.

    SellerwaitPayment.png

    2. Once the buyer has confirmed making the payment, click the Proof of payment icon to view the buyer's proof.

    3. Tick the box below to confirm receiving the actual payment.

    3. Click Release BTC to send bitcoin from the escrow to the buyer's wallet.

    sellerclickRelease.png

    Note:

    • Click Chat with buyer to switch to classic chat to clarify any details.
    • Click Start dispute in case of an issue with the payment or suspicious actions from the buyer’s side.

    Tip: After a successful trade, do not forget to leave feedback to your trade partner.

    Trading as a buyer of bitcoin

    Step 1

    1. Once you have started a trade, click Upload to start uploading the proofs requested by the seller of bitcoin.

    Uploadfile.png

    The upload file dialogue box appears.

    Note: During the trade process, you can click Cancel trade to cancel the trade.

    2. Choose a file and click Upload

    Uploadfile2.png

    Note: There are three ways to upload your files:

    • Choose a file from your device.
    • Provide a direct link to a file.
    • Make a photo with your device.

    3. Repeat the same actions for all proofs in the list and click Send to vendor

    SendtoVendor.png

    Note: The seller can any time switch your trade to a classic chat version.

    Wait for the seller to review your proofs. Once the seller accepts your proofs, the Step 2 section activates.WitingforAccept.png

    Step 2

    Once your proofs are accepted by the seller, the Step 2 section becomes active. 

    Note: If the seller rejects some of your files, you will be taken to the previous step to try uploading a different document.

    1. Click Upload to upload the proof of payment the same way as all previous files.

    UploadProof.png

    2. After making the payment and uploading the proof requested, click Payment complete.

    CLickConfirmPAyment.png

    The Step 3 section activates.

    Step 3

    Wait for the seller to release bitcoin. 

    waitforBTC.png

    In case of success, you receive a notification: BTC has been transferred to your bitcoin wallet.

    Tip: After a successful trade, do not forget to leave feedback to your trade partner.

    Have a look at our articles about how to buy bitcoin with online wallets and how you can create an offer to sell your bitcoin.

  • Increasing trade limits

    Do you want to trade even more on Paxful? Are your desired trading volumes higher than 10,000 USD per trade? You can increase your trading limits easily by following these steps: 

    1. Complete our KYC procedure by applying to ID verification and address verification through your account. KYC documents include ID, proof of address, a selfie with ID, etc. 

    2. Contact our support team and we will modify your trading volume limits according to your request. After you submit the required information, Paxful KYC team will review the application and the amount will be manually increased. 

    Note: This step is valid only in case your trade volume is equivalent to 10,000 USD per trade or higher.

    Feel free to contact our Support with any additional questions.

  • Feedback and reputation
    What is reputation on Paxful?

    Reputation is a good way to understand how good or bad a trader somebody is on Paxful.

    Reputation is an aggregated score displayed on a user’s public profile. Each user can give feedback to their trade partner after completing a trade. You need to remember that only successful trades are eligible for feedback.

    If you’ve missed the opportunity to leave feedback on a trade, you can still do it by reopening the trade later. You can also make changes to the feedback you’ve already provided about a user.

    What are the different types of feedback?

    There are two types of feedback: positive and negative.

    Note: Aside from giving feedback, you can also block a user.

    Where can I check my reputation?

    Log in to your Paxful account, hover over your username located on the upper right of the page, and click My profile on the context menu that appears.

    Feedback1.png

    Your Profile page opens up showing the positive and negative feedback score you’ve received so far, underneath your username.

    feedback2.png

    For more detailed information, scroll down to the Feedback tab:

    FeedbackTab.png

    Where can I see the reputation of other users?

    On the offer list, click the username whose reputation you’re interested in.
    Feedback3.png
    The Profile page appears.

    Note: On the public list, you can see only the positive feedback the user has received.

    You’ll see the positive and negative feedback score the user has received so far, underneath their username.

    feedback2.png

    During a trade, you can find the positive and negative score of a user close to their username in the trade chat.

    feedback4.png

    How to leave feedback?

    Note: 

    • To change your feedback, reopen the trade, choose the new feedback type, edit the comment you’d already written, and click Update feedback.
    • You can leave only one feedback for a user per payment method, per currency. Example: You have 5 Amazon gift card trades in USD, 3 Amazon gift card trades in GBP, 5 Bank Transfer trades in USD, and 3 Paypal trades in USD with a user. It means you can leave only 4 feedbacks in total. However, you can always update the existing feedback, according to your latest trade experience.

    On the last step of a trade, the feedback section appears.

    feedback5.png

    Click Positive or Negative, enter any additional comments you have in the comment field, and click Submit feedback.

     feedback6.png

    What’s not allowed?
    • Don’t leave negative feedback for no reason as this is unfair and it’ll make it harder for users to trade if their reputation is bad.
    • Beware that intentionally ruining a users’ reputation is considered malicious action and it could get you banned from Paxful.
    • Building up a fake reputation by creating fake trades is also not acceptable,  and you’ll be banned from trading on Paxful.

    Check out our tips for buying bitcoin and read about our rules for selling bitcoin for recommended best practices while trading on Paxful. 

  • Minimum amount for a trade

    Currently, the minimum trade amount is 10 USD to buy bitcoins. If you are selling bitcoin, the minimum is 0.001 BTC.

  • Why can't I start a trade with a vendor?

    It may happen that you want to start a trade with a specific vendor and you get the following message:
    "You do not meet the requirements set by the vendor", "Offer not found" and more:

    vendor_restrictions.png

    Please note that it is not a technical error. This happens as the offer owners may set the following restrictions for their potential trade partners:

    • verification of phone, email, ID 
    • visibility only for users marked as trusted
    • a minimum of successful trades required
    • a limit for the amount of money a new account is able to trade
    • geographical blocks for certain countries
    • Proxy/VPN limitations
    • user has blocked you due to any personal reasons

     

     

  • Adding bank account in trade chat

    This is a guide on how to add bank details in your trade chat. The option helps you to safely store the bank details so that you don't have to send this information to your trade partner manually. You can save more than one bank account and use them for all your bank transfer trades.

    Adding bank account

    1. Start a Bank Transfer trade. On the bottom left of your trade chat, click MY BANK ACCOUNTS.

    AddBankInChat.png

    A pop-up window appears.

    Note: If you already have an account, please go to Sharing bank account in a trade chat.

    2. In the pop-up, click ADD BANK ACCOUNT.

    AddBankInCHat2.png

    3. Choose your account type, country, and currency and click Next.

    AddInChat3.png

    4. Complete the following fields:

    AddInChat4.png

    Field Name Description Comments
    Routing Number The nine-digit code used to identify your financial institution. The USA only
    Account Number Your personal account number with the bank.  
    Account Holder Name The account holder’s name. The account holder’s name must be exactly as stated in the account.
    IBAN Your International Bank Account Number EU only
    Bank Your bank’s name. Nigeria only

    5. Click International transfer details (optional) and complete the additional fields as follows:

    AddInChat5.png

    Note: If you want to receive international payments, additional details about Account Holder are necessary.

    AddInChat6.png

    Field Name Description Comments
    Country of residency Your current country of residence. As stated in the bank account related documents. This is not your country of citizenship.
    State/Region Your current state or region of residence. As stated in the bank account related documents.
    City Your current city of residence. As stated in the bank account related documents.
    Zip Code The Zip Code of your current residence. As stated in the bank account related documents.
    Address Your complete address of residence. As stated in the bank account related documents.

     

    6. Click Add account.

    AddInChat7.png

    Your bank account appears in a window at the bottom of your trade chat.

    AddinChat8.png

     

    Note:
    • Customers located in the country where we don’t support bank accounts logic, will not be able to see the feature. 
    • Once sent, it is not possible to delete bank details from the chat. However, you can send account details more than once.

    Sharing bank account details

    1. In the trade chat, click MY BANK ACCOUNTS.

    AddBankInChat.png

    A pop-up window appears.

    2. Click a bank account you want to share.

    AddInChat9.png

    Share your bank details with the buyer dialogue appears.

    3. Double-check the details you are going to share and click Share bank details.

    AddInChat10.png

    Your bank details appear in the trade chat.

    AddInChat11.png

    See our guide on how to add a bank account into your profile. Also, have a look at our article about how you can sell your bitcoin with bank transfers.