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Paxful Exchange Review: Is Paxful a Legitimate Crypto Exchange?

cryptoknowmics.com 29 May 2022 04:00, UTC
Reading time: ~3 m

Paxful exchange (formerly EasyBitz) is a Philippine-based bitcoin marketplace that was founded in 2015. The platform has over 4.8 million users and more than 200 employees with offices in the Philippines, Estonia, and Hong Kong. Paxful users are from all around the world, with traders from Malaysia, the United Arab Emirates, India, Pakistan, Indonesia, and Zimbabwe among them. The aim of the CEO and founder was to create a crypto community;  that is available to everyone who wishes to buy and sell Bitcoin and other digital currencies. Here's a detailed Paxful exchange review to help you better understand the exchange and its operations.

Paxful Exchange Review: How Easy Is It to Use The Exchange?

Paxful, unlike other exchanges that utilize a book-based order system, is a reputable and easy-to-use platform that allows buyers and sellers of Bitcoin and other major cryptocurrencies to interact directly with one another to sell or acquire Bitcoins and other big currencies. They can use the Paxful vendor or buyer to trade Bitcoin, Ethereum, and Tether USD, or they may simply connect with their ideal trading partners. The exchange (formerly known as Sea Ltd.) is a bitcoin exchange founded in 2015 with offices in many cities across the world (headquarters are in the United States). Paxful has approximately 200 employees.  The exchange strives to be the "Uber" of the bitcoin community. Hence providing individuals with the ability to become business owners and sell bitcoin online much as eBay does. Better yet, the platform also offers a great alternative for buyers, since sometimes traditional exchanges just don’t cut it. While most exchanges suffer from geographic restrictions or limited payment methods. Paxful is free of both, giving the power for trading Bitcoins back to the people; and allowing for a more decentralized trading market. Paxful also offers a payment processing service for websites. Hence enabling merchants to more easily accept a wide variety of payment methods.

Is Paxful Regulated?

Paxful is not a licensed money transmitter, but it is safe and secure to use. It's crucial to remember that the platform's trustworthiness does not equal the seller's trustworthiness. Despite the fact that the Paxful platform requires identification from its clients and follows KYC guidelines;  it is under no regulation by any nation. Users may use the platform with confidence. Mainly due to the presence of anti-money laundering and KYC regulations.

Products and Services Offered by Paxful

Paxful is a major cryptocurrency exchange with a distinct set of features. Through their marketplace service, Paxful offers two versions: On their website via an easy-to-use form Using a 'virtual kiosk link' that anybody can use. The virtual kiosk is Paxful's affiliate program, which allows people to promote the site while earning a 2% commission on every purchase. Pay with Paxful is a payment processing feature that many web owners can integrate with their sites. This allows merchants to take advantage of Paxful's 300+ payment options using a Paxful widget on their website.

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