Account Verification

  • Why verify my account?

    We all want to live and do business in a safe and trustworthy environment. Additional verification helps to create high-quality partnership both between Paxful and our users and amongst traders on our marketplace. This becomes possible by means of KYC. Overall, there are 4 verification levels. All of them bring benefits to Paxful users:

    Level 1

    • Requires email verification.
    • Requires phone verification.
    • Increases the security level of your account.
    • Provides access to a higher amount of offers.
    • Creates a higher level of trust, positively affects your reputation.
    • The trading volume limit is up to $1,000.

    Level 2

    • Requires ID verification.
    • Increases trading volume limits.
    • Provides access to additional trading methods such as Bank Transfer.
    • Provides the opportunity to create your own offers.
    • The trading volume limit is up to $10,000.

    Level 3

    • Requires address verification.
    • Increases trading volume limits.
    • Removes the need to have 0.02 BTC on balance to make your offers to buy bitcoin visible on the public listing.
    • Trading volume can be $10,000 and higher.

    Note: For users from the United States all three levels are mandatory.

    Level 4

    • Requires additional verifications such as EDD (Enhanced Due Diligence) or CDD (Customer Due Diligence).
    • Increases trading lifetime volume limits.
    • May be acquired only for significantly high volume corporate accounts.
    • Trading volume can be $50,000 and higher.

    And the last, but not the least important thing. If for some reason you will lose access to your account, it will make it easier to restore it.

    Please check our Blog for more information.

  • Verification levels

    Verification is an important part of Paxful as we aim to make the trading experience on our platform as safe as possible. The following table lists out our various verification levels along with their corresponding benefits:

    Level Verification Needed Per Trade Limit Trade Volume Lifetime Limit Send from Wallet Lifetime Limit Receive to Wallet Lifetime Limit
    0 None $0 $0 $0 Unlimited
    1 Email and Phone $1,000 $1,000 $1,000 Unlimited
    2 ID $10,000 $10,000 $10,000 Unlimited
    3 Address $50,000 Unlimited Unlimited Unlimited
    4 Enhanced Due Diligence Higher than $50,000 Unlimited Unlimited Unlimited

     

    Note: 

    • The per trade limit for a trade is calculated based on the total volume of all active trades available for your current level.  
    • These limits apply from August 06, 2020. If your account was created prior to this date, you will receive an email requesting you to complete additional verification.

    Warning: 

    • In order to create an offer, you need to be ID-verified.
    • To send funds from your Paxful wallet, you need to verify your email and phone.
    • Check if your country is on the OFAC grey list. In case if your country is on the list, to send funds from your Paxful wallet or to sell bitcoin, you need to be ID-verified.

    Here are some additional cases which may require verification. Please visit our knowledge base for more information on the verification process.

  • Email verification

    Email verification is an essential process to start trading on Paxful. It also adds a layer of security to your account for you to restore or unlock your account if needed. Here is a step-by-step guide on how to successfully verify your email.

    1. Log in to your Paxful account, hover over your username on the top right of the page and click Settings from the context menu that appears.
      Email_verification_1.png

      The Settings page appears.

    2. Under Verify email address click Resend email
      Email_verification_2.png 
      A verification email is sent to your registered email address. 
    3. Open the email in your inbox received from noreply@paxful.com, and click Confirm Email. Your email address is verified successfully. 

    Note:

    • You can request a new confirmation email only once every 20 minutes.
    • If you do not find our email in your regular inbox, please check your Spam or Junk email folders as well.
    • If your email is verified, you can set a custom username in your Account settings. NB! This can be done only once!

    After verifying your email, we recommend you also verify your phone number and set up two-factor authentication for your account.

     

  • Phone verification

    Before you start trading on Paxful, you must have your phone number verified. This also provides additional security to your account. For example, if your account is locked due to security reasons, you can easily unlock it if you have a phone number registered to your account. A verified phone number is also essential for two-factor authentication (2FA). Here is how you can verify your phone number on Paxful.

    Note: Before you begin, you need to verify your email first.

    1. Log in to your Paxful account, hover over your username on the top right of the page and click Settings from the context menu that appears.
      Email_verification_1_2.png

      The Settings page appears. 
    2. On the menu on the left side of the page, click Profile.
      clickProfile.png
    3. Enter your phone number in the PHONE field and click Verify or Use a phone call instead.
      CLickVerify.png

      Note: We recommend the Verify option as the call option is not supported in all countries.

    4. a) Phone call option
      You receive a phone call with the numeric confirmation code. Listen carefully to the code and enter it in the field below and click Submit. Your number is verified.
      b) Verify (SMS) option
      You receive an SMS with the numeric confirmation code. Enter the code in the field below and click Submit. Your number is verified.
      ClickSubmit.png

      After confirming your phone number, consider activating 2FA and verifying your ID.

     

     

  • ID verification

    ID verification elevates your trading experience to a new level. We have done our best to make this process as easy as possible for you. Here is a step-by-step guide to help you verify your ID on Paxful.

    Before you begin, please ensure that you have verified your phone and email.

    Video Guide

    Here is a short video that walks you through the verification process:

    Step 1 Open Verification Page

    1. Log in to your Paxful account, hover over your username located on the upper right of the page and click Verify Me.
      ID2.1.png
      A dialog box with the verification video guide appears. 

    2. After watching our video, click Continue verification.
      ID2.2.png
      The Verification page appears.

    Step 2 Insert Your Details

    1. Fill in the fields on the ID verification form.
    ID2.3.png

    Field Name Description
    Country your photo ID is from Select the country that issued your ID.
    Type of photo ID Select the type of ID you are submitting.

    2. Click Start verification process
    ID2.4.png
    The photo ID verification page appears. 

    Step 3 Provide ID Photo

     

    1. On the ID verification page, click Start.
    StartVerificationNew.png
    The Submit identity card page appears.


    2. Choose whether you want to take a photo of ID or to upload an existing file from your device.
    ID_verification1NEW.png

    Note: Want to continue your verification on a mobile phone? Click Prefer to use your mobile?

    Take Photo

    To take a picture of your ID, make sure your document is ready and follow the instructions that appear on the screen.

    1. Click Take photo.
    TakePhotoNEW.png

    2. Click Start.
    ID2.7.png

    Warning: Give the application permission to access your device camera.


    Place your ID in the center of the screen and make sure all the necessary details are visible: 

    • your face on the document
    • document number
    • your full name

    3. Click the Camera icon to capture the image.
    ID2.7.1.png
    The image is captured and displayed on the screen. 

    4. If the image is clear, click Confirm. If the photo is not legible or if you are not satisfied with it, click Retake and try again.
    ID2.8.png

    Repeat the process once again to capture the backside of your  ID card or Driving license. In the case of a passport, simply continue to the next step.

    Upload file

    If you want to upload a file from your device,

    1. Click Upload file.
    UploadFileNEW.png
    The Upload image page appears. 

    2. Click Choose file and select a file from your device.

    ID2.10.png 

    3. Click Choose another file if you want to retry. If you selected the right file, click Confirm.
    ID2.11.jpg

    Repeat the process once again to capture the backside of your ID card or Driving license. In the case of a passport, simply continue to the next step.

    Step 4 Complete Face Verification

    The next step after submitting your ID is to complete your face verification. To verify your facial identity.

    1. On the Face verification page, click Continue.
    ID2.12.png
    Center your camera page appears.

    2. Make sure your camera is working and placed correctly. Click Continue.
    ID2.13.png

    The application activates your device camera so you can click a picture of your face.

    3. Once you are ready, click Start.

    selfiestartFinal____.png
    While clicking the picture, keep the following points in mind:

    • Look straight into the camera.
    • Make sure you are dressed decently and are not wearing glasses or hats.
    • Follow the instructions by moving your face closer to the camera.
    • Fit your face into the oval frame.

    In case of an error, click Try again. In case of success, your photo will be sent automatically to our Verification Team.
    ID2.14.jpg

    Note: If your attempt has failed, consider increasing the amount of light in the room.

    You’ll be notified about your application in just a few minutes! Check your notification inbox to find out if your application was approved or declined. You will also receive an email with the result of your verification. 

    Note:

    • There is a lifetime limit of 5 verification attempts for each user!
    • If you have not received an answer within 24 hours, it means that your document is going through manual verification. Manual verification may take more than 2 days (2-7 days).
    • Due to Coronavirus (COVID-19) pandemic, manual verification processing times may be longer than usual (3-10 days). Thank you for your patience. 

    If you have any questions or face any issues, contact us at verification@paxful.com or via our contact form. After completing your ID verification, feel free to verify your address as well.

     

  • Is ID verification mandatory?

    We encourage all our users to get their identity verified. However, verification is mandatory in the following cases:

    • Users who reach an equivalent of 1,000 USD in trade volume or wallet activity per year must complete ID verification.
    • All users from the USA, EU, Canada, UK, and OFAC grey list countries require ID verification to do wallet withdrawals and trades for any amounts.
    • Users who reach 10,000 USD in trade volume or wallet activity per year must complete ID and address verification.
    • Users who reach higher trade volumes or engage in certain wallet activity may be subjected to enhanced due diligence and may be asked for additional information, including video verification. 
    • Users trading bitcoin for cash in person and cash by mail for trades higher than 50 USD must complete ID and address verification.
    • Users wanting to create an offer to buy bitcoin must complete ID verification.
    • Users wanting to create an offer to buy or sell bitcoin for cash in person and cash by mail must complete ID and address verification.

    What if I don’t want to verify my account?

    Those who choose not to verify their ID or address can still continue to use Paxful services but they will be subject to a trade and wallet limit put in place for unverified users. Read more about verification levels here.

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