If Paxful were a school, then honest traders would be A+ students. As a way to express our appreciation for these role models within our community, we’ve developed a new system that evaluates each gift card trader’s record and reduces the security deposit to as low as 0.005 BTC for users with great standing, effective immediately.
A few factors that may change your security deposit amount include:
- How often you get involved with disputes
- How often you cancel trades after your cryptocurrency buyer has marked the trade as paid
- How often you complete trades without disputes and cancellations
- How quickly you respond to your trade partners
Your trade record is updated each time you complete a trade, so your deposit amount may continue to change in the future.
If your account qualifies for a lower deposit, we’ll return the difference between the required and previously deposited amounts to your Paxful Wallet. If we notice that your account has not been performing as well as before, your deposit requirement may be increased again to a higher amount.
We hope your eyes are lighting up as you read about this update because a smaller deposit requirement means you’ll have more funds available to make more trades!
Note: All new gift card offers created after this update will have an initial security deposit amount of 0.005 BTC, subject to change depending on the user’s trading activity.