Topic: Is paxful legit? - page 3. (Read 42517 times)

What is scam exactly on Paxful? I am happy to clear all doubts.
We have been featured on NPR and Marketwatch and with our Pay with Paxful button to backpage.com was already paid over $5million in bitcoins so far.
Weekly over 1500 bitcoins is exchanged on Paxful between buyers and sellers. Proof here: https://paxful.com/developers#trades

I am not sure whether you are competitor trying to ditch us or honestly don't know how p2p bitcoin trading works, but let me try anyway.
What is the fee you are talking exactly about? When you are selling bitcoin, as a seller for a successful sale you pay to Paxful 1% trade fee. Say a buyer is buying from you 1 bitcoin, so into escrow goes 1.01 bitcoin from your wallet. On successful trade 1 bitcoin is moved to buyer's wallet and 0.01 is kept by Paxful. In case of trade cancelling you get back whole amount - 1.01 bitcoin. Indeed may be some cases when you are locked in a trade for an hour when buyer starts a trade with you and doesn't know what is going on since buyer is buying first time and is trying to figure out the system. But trade payment window times out and you get back all your coins. With time figuring out the platform and reducing number of stuck trades (coinlockers) you will gradually build your customer base of returning buyers and you could have a very profitable online bitcoin selling venture.

I can officially say my things about paxful

DO NOT DEPOSIT THERE,while you can easily buy bitcoin,deposit and withdraw it.They take a fee that they will not refund.As I tried to sell bitcoin on there,only to get locked into a trade for 1 and a half hours and was not refunded the fee.So I lost money and time.And everybody who you try to sell bitcoin to,even at a 1:1 rate will most likely lock you in a trade,which happened to me several times.Its better to use other websites.

I'm not trusting paxful so soon. Really looks like a scam, but I hope someone can prove me wrong.
I'd recommend depositing somewhere else, scams are so often nowadays, you can't trust everyone.

We are asking already months bitcoinity and bitcoincharts.com to include us. Our public trades API is here
https://paxful.com/developers#trades
You can get from there all past successful trades and also payment methods for each trade, so you know always which payment methods are now the hottest and most active.

This is the art of selling bitcoin online with premium which has it's risks if you sell for payment methods which can be charged back. Please look my previous posts where I have mentioned about chargebacks and what payments methods to use for the start that are not easily reversible.


We have a story where lady for backpage bought bitcoins from Coinbase and she found out that she eventually has to wait 4 days for her coins. She thought bitcoin is 1 big company and left us alot of 1 stars on bittrust because she thought we are the ones who make her wait for her coins 4 days. Also most reviews are left by haters, people who get scammed by sellers or who gets confused. If you check LBC bittrust rating, it's even worse =) Since there are frauds on both sides - sellers and buyers we are constantly improving our system and warning users of potential scams thus making bitcoin p2p trading safer.

We did choose a ready HTML canvas but it's heavily modified, I don't see anything bad if it does it's job. Also we are now focusing on new features such as widget/affiliate program (1 month away) and Paxful Checkout (3 months away).

Never use this service, but AFAIK, website reskin is risk to use, better to use localbitcoin itself and choose a trusted person to make a deal.

There is nothing wrong with the website because it is just a platform for buyer and seller to meet but i must advise that you should deal with people that have good reputations or you make use of their escrow.

Where do your stats come from that you claim to be the second biggest?

I have used it and it seems to be legit, but the only thing that the payment methods can be charged back but I believe this is a problem on LCB also and all major exchangers like this .

Thanks

Hello, Paxful admin here!

We launched Paxful in summer 2015 and have now grown into 2nd biggest p2p marketplace with over 1k bitcoins weekly volume.
If you have any questions or concerns, I'm happy to answer!

We have also active forum, great customer support and listen to our userbase and every feature request.

Never used it, don't know anyone personally who uses it and haven't heard anything good/bad about it so far, at-least not on this forum, so can't say. Its hard to tell these days about bitcoin exchanges as to which one is legit, which one isn't and which one decides to get hacked all of sudden.

Try it with small amounts, is all I can suggest.

there are about 26 reviews, read first and then make your own opinion, although i must say, scam is the firt thing that comes to mind http://bittrust.org/paxful

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A friend of mine told me about paxful,it seems like a locabitcoin reskin.I haven't been able to find any vouches that it works,does anyone have any experience with paxful?