General Questions and Guides

  • How Does Paxful’s Travel Rule Affect Me?

    In order to comply with international regulations, Paxful is now requiring users who send out 1,000 USD or more in cryptocurrency to provide further information when trading.

    To keep you in the loop, we implemented the new travel rule for user protection and to stay up-to-date with international standards

    Why was the Travel Rule created, and where will my information go?

    The Travel Rule was created to better understand where users are sending and receiving cryptocurrency from.  

    The Financial Action Task Force (FATF), FINCEN, and other international regulatory bodies created the Travel Rule to help make your transactions more secure.

    By providing further information (as listed below), there’s less risk of sending crypto to an unknown wallet address. Furthermore, it helps companies, like Paxful, better detect money laundering and terrorist financing.

    The rule requires money service businesses to communicate when users send money from one financial institution to another. There are businesses, such as Paxful, that are called Virtual Asset Service Providers (VASPs), and they allow users to trade cryptocurrency. The new Travel Rule requires VASPs to securely gather specific information when a transaction is made between two VASPs. The gathered information is then communicated back and forth between the VASPs. 

    For further information visit Paxful’s blog article: Introducing the Travel Rule.


    Who needs to follow the new travel rule? 

    Anyone who is sending out 1,000 or more USD in cryptocurrency on Paxful to another platform will need to abide by the new travel rule and provide the appropriate information. 

    Note: If you are sending 1,000 or more USD in cryptocurrency to another Paxful user within Paxful, the Travel Rule will not apply.


    How do I follow the Travel Rule?

    A pop-up window will appear on your screen when you confirm the amount of cryptocurrency you would like to send. Keep in mind that this window will only pop up if you are sending 1,000 USD or more in cryptocurrency. 


    What information is needed to send over 1,000 USD in cryptocurrency on Paxful? 

    You need to ensure that you’re proof of address (POA) verified, meaning that your address associated with your Paxful account has been verified.

    You will also need to submit the following recipient details on a pop-up screen when it is presented to you.

    When sending to a private person, Paxful requires their information, which includes:

    • The recipient's first name
    • The recipient's surname or last name
    • The recipient’s wallet provider

    Travel_Rule_-_Private_Person_-_Image_1.png

    Note: The wallet provider is the service that your recipient is using to accept the sent funds.

    You can also submit a custom wallet provider name by choosing the option: Other. You will then be prompted to type in the custom provider name. (Reference the image below for more information.)

    Travel_Rule_-_Private_Person_-_Image_2.png

    When sending to a company or corporation, Paxful requires their information, which includes:

    • The company name
    • The company’s wallet provider 

    Note:  Similar to sending to a private person, you can also submit a custom wallet provider name by choosing the option: Other. You will then be prompted to type in the custom provider name. (Reference the image below for more information.)

    Travel_Rule_-_Company_-_Image_1.png

    Once you submit your information and click the blue button, you will see the below image:

    Travel_Rule_-_Final_image.png

    How do I verify my address for the Travel Rule?

    You will need to verify your email address, phone number, address, and identity in order to comply with Paxful standards and the Travel Rule when sending out 1,000 USD or more in cryptocurrency.  Please visit our help center page on verifying your account for additional help.

  • What is a Paxful Wallet?

    To help kickstart sending and receiving cryptocurrency, Paxful gives all users a safe and free cryptocurrency wallet when they sign-up.

    The Paxful Wallet is a digital wallet where you can store your hard-earned cryptocurrency securely. Your wallet lets you see your transactions, similar to your online banking account. 

    All wallets come with a wallet address. To send and receive cryptocurrency to your Paxful Wallet, you can simply send your wallet address to other crypto users. 

     There are many varieties of wallets available, whether you’re looking for a web or mobile solution—your Paxful wallet helps get you up and running ASAP! For more information on wallet restrictions and various types of wallets, visit our glossary

    To learn how to sell and buy cryptocurrency using your Paxful Wallet visit our Help Center.

     

  • I Sent Funds to the Wrong Address. How Do I Get Them Back?

    Sometimes you may accidentally send your cryptocurrency to the wrong wallet address.

    As cryptocurrency transactions are irreversible, they can neither be canceled nor reversed once initiated. In case you end up sending the funds to the wrong person, you may have to contact them and request a refund. If you don’t know whom the address belongs to, you can’t do anything else to retrieve the funds.

    Warning: Always double-check and ensure that the address you’re sending funds to, exactly matches the address of the recipient beforehand.

Tether (USDT) Wallet

  • How Can I Check the Status of My Ethereum (ETH) or Tether (USDT) Transaction?

    When you send ETH or USDT from one wallet to another, you can check the status of the transaction through Etherscan for ETH and Ethereum based Tether (ERC-20), and Tronscan for Tron based USDT (TRC-20). Check out the steps below to get started:

    Each transaction has a transaction ID (also known as a transaction hash). The IDs generally look like a bunch of random numbers and letters and looking something like this:

    • 0x931d387731bbbc988b312206c74f77d004d6b84

    To find your transaction ID in your Paxful wallet:

    1. Log in to your Paxful account and head to your walletusdt_send_out_step_1.png
    2. Scroll down to your Tether or Ethereum transactions at the bottom of the page and select “all transactions” to see your full transaction historyusdt_send_out_step_2.png
    3. Once you find the transaction you’re looking for, copy the transaction IDusdt_sent_stp_3.0.png

    Once you have the transaction ID:

    1. Head over to Etherscan.io or Tronscan.org
    2. Paste in the transaction ID
    3. From there, you can track your transaction. It usually takes 12 confirmations (it can take up to 30 on some platforms) for your transaction to complete, so hang tight! 


    For more information on sending USDT, take a look at this article.

  • Receiving and Depositing Tether (USDT)

    If you’re looking to deposit USDT into your Paxful wallet, check out the steps below to get started:

    1. Log in to your Paxful account and head to the Wallet page.Send_-_Step_1_-_Final.png
    2. Click “Receive” under your Tether wallet.step_2_--_receiving_.png
    3. You'll now see your wallet address here, allowing you to copy and paste the address, or you can use the QR code. 
      You’ll also see the current fee associated with receiving USDT in your Paxful wallet at this time—take a look at this article for more information on fees. Please make sure the amount you’ll be receiving is worth more than the fee!
      If you don't have a USDT address, you can generate one at this step:
      deposit_step_2_--_new.png
      deposit_--_new_.png

    Notes:

    • After USDT is sent, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan to track. 
    • If you have an old Tether address, you'll be charged a network fee when you use it to deposit Tether. You can avoid that fee by using your new Tether address.
  • Sending and Withdrawing Tether (USDT)

    Sending Tether (USDT) from your Paxful wallet is easy! Check out the steps below to get started:

    1. Log in to your Paxful account and head to the Wallet page.Send_-_Step_1_-_Final.png
    2. Click “Send” under your Tether walletSend_-_Step_2_-_Final.png
    3. Enter in the amount of USDT that you’d like to send and the recipient’s wallet address. You have two options here: send USDT via the Tron network, or via the Ethereum network. These networks have different fees, which you’ll see listed at this step. Once that’s done, hit “Continue”.
      Send_Tether_Choose_Network.png
    4. Next, you’ll see a confirmation page. Double check that the recipient’s wallet address is correct. Once you’re ready and you’ve confirmed all of the information is correct, hit “Send Tether now” and you’re good to go.new_send_step_4.png

     

    Notes:

    • After USDT is sent, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan (for Ethereum USDT)  here and Tronscan (for Tron USDT) here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan or Tronscan to track.

    Warning: If you are in an OFAC grey country, you’ll need to be ID verified to send funds out of your Paxful wallet.

  • Tether (USDT) FAQs
    What is Tether?
    Tether (USDT) is a stablecoin that is worth around 1 USD. The rate can fluctuate a bit, but it's a 1:1 representation of 1 US dollar on the Ethereum blockchain.
    Who can trade USDT on Paxful?
    Only ID-verified users can trade or convert USDT on Paxful.
    What are the fees for converting USDT?
    For the full breakdown of USDT fees, check on this article.
    Can my USDT transaction be cancelled or reversed?
    Unfortunately, transactions on the blockchain can’t be cancelled or reversed. For more information, check out this article.
    What is the minimum USDT amount I can sell, buy, or convert?
    With Paxful, the minimum amount you can buy, sell, and convert is 10 USDT.
    How can I buy or sell USDT?

    You can buy or sell USDT the same way as you would buy or sell Bitcoin in the marketplace! 

    • Head over to the buy and sell pages to see a list of the current USDT offers. 
    • You can also create your own USDT offers (just make sure you’re ID verified!).
    • You can also convert your BTC into USDT in your Paxful Wallet. Check out this article for more information.
    How do I get a USDT wallet address?
    Just head to your Paxful wallet and click on “Receive” under Tether to get your USDT address. You can also check out our Receiving and Depositing Tether article for more information.
     
  • USDT Tron

    Transaction fees on blockchain can get expensive and are sometimes unpredictable. These fees are called Network fees and do not go to Paxful, they go to the blockchain networks to make sure your funds are safe.

    Luckily, the fees in modern blockchains are lower than the fees in the older blockchains (such as Bitcoin and Ethereum). Paxful does its best to give users the option to save on fees.

    What USDT does Paxful support?

    For USDT (Tether USD) we allow two send out options from your Paxful Wallet: Ethereum (ERC-20 USDT) and Tron (TRC-20 USDT).

    What are the fees associated with Tron USDT send outs?

    Network fees are $0 when you send Tron based USDT from your Paxful Wallet. However, you will have to pay the Paxful Wallet fee. Check out this article for more information on our fees.  

    Which network does my wallet / exchange accept? 

    Typically you can see that in the ‘Receive’ or ‘Deposit’ screen within your wallet. Look for either Ethereum (ERC20) USDT or Tron (TRC20) USDT. If you are given a deposit address, you can easily spot the Ethereum address by the ‘0x’ in the beginning, while Tron addresses start with a capital ‘T’.

    Note: Make sure your wallet/exchange supports USDT transfers. Please never withdraw money directly to ICO addresses or services not designed to accept USDT.

    What if I want to send USDT to another Paxful user?

    You can still send funds to another Paxful Wallet by using a Paxful username or wallet address. There is no network fee for internal transfers (you have 1000 USD worth of free internal transfers each month).

    I want to withdraw the funds to my own wallet, what software should I use?

    Your funds are safe in your Paxful Wallet, but if you want to keep USDT in your own wallet, you can find the software for your desktop or mobile device here:

    Ethereum Wallets - https://ethereum.org/en/wallets/ 

    Tron Wallets - https://tron.network/wallet 

    Why won’t my transaction go through?

    Make sure you copied the address correctly. Keep in mind that addresses are case sensitive. Also make sure your address is either Ethereum USDT (starts with ‘0x’) or Tron USDT (starts with ‘T’). 

    If you’re still running into issues, feel free to reach out to our support team.

Bitcoin Wallet

  • I Sent Bitcoin from My Paxful wallet But It Doesn't Appear on the Recipient's Balance

    Sometimes the Bitcoin you send from your Paxful wallet may not appear in the recipient’s wallet balance. This doesn’t mean that your funds are lost. Here are some steps for you to figure out what could have happened:

    1. Make sure you sent the Bitcoin to the correct wallet address. You can check this by going over your transaction history.
      • If the recipient’s wallet address is correct, go to the next step.
      • If you have used an incorrect address, go to this article about recovering funds sent to the wrong wallet address.
    1. Check the transaction status on Blockcypher.com or Blockchain.com
      • If you see less than three confirmations, give the transaction some more time to be processed  (this may take up to 24 hours). 
      • If you see three or more confirmations, contact the recipient’s wallet service provider to investigate this situation further.

    Note: Don't worry—if you've entered the correct recipient's wallet address, your funds will be recovered.

  • Bitcoin was Sent to My Paxful Wallet But I Don't See It On My Balance

    You may notice that the Bitcoin sent to your Paxful wallet (by yourself or a third party) isn’t showing up on your balance. This doesn’t mean that your funds are lost. Here are some steps that you can take to fix this:

    1. Make sure that the funds were sent to the correct wallet address. If they were sent from an online wallet, check the transaction history. If they were sent from an ATM, check the transaction history and the receipt.
      • If the recipient’s wallet address matches your wallet address, go to the next step.
      • If the address is incorrect, go to this article about recovering funds sent to the wrong wallet address.
    1. Check the transaction status on Blockcypher.com or Blockchain.com
      • If you see less than two confirmations, give the transaction some more time to be processed (this can take up to 24 hours). 
      • If you see two or more confirmations, go to the next step.
    1. Check your wallet page for notifications and our Twitter feed for any announcements. 
      • If you see a message on your wallet page or on our Twitter, just wait for further updates.
      • If there is no information about any technical issues, contact Support right away. Make sure you have provided us with the recipient’s wallet address and transaction ID.

    Note: Don't worry! If the sender has entered the correct recipient's wallet address, your funds will be recovered.

  • Can I Withdraw Bitcoin from Paxful Wallet to My External Wallet?

    You can easily send your Bitcoin from your Paxful wallet to an external wallet from the Wallet page. We support all major Bitcoin wallet types, however, there is an exception. 

    There are three Bitcoin address formats currently in use:

    1. P2PKH addresses which begin with the number 1.
      Example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2.
    2. P2SH addresses starting with the number 3.
      Example: 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy.
    3. Bech32 addresses also known as "bc1 addresses" starting with bc1.
      Example: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq.

    Bech32 is supported by the majority of software and hardware wallets, but only a few exchange platforms.

    Paxful Wallet allows withdrawals to P2PKH, P2SH, and Bech32 addresses.

    Additionally, see how to send Bitcoin from your Paxful wallet and the details of Paxful fees.

  • How to Check Bitcoin Transaction Status

    If you send Bitcoin from one Paxful wallet to another, transactions are instant. However, if you make transactions from or to an external wallet, you may need to monitor the process. Here’s how to check the Bitcoin transaction status:

    1. Look for the transaction ID. You can find it in the transaction history of the sending wallet provider or, in case of ATM, you will see it on the screen and on your receipt. It will look something like this: e2e400094he873ec4af1c0ae7af8c3697aaace9f7f56564137dd1ca21b448502s

    2. Go to https://live.blockcypher.com/ or https://www.blockchain.com/explorer and type or paste the transaction ID into the search field. You can see how many confirmations your transaction has.

      If you’re receiving BTC in your Paxful wallet, the funds should arrive after two confirmations. If you’re sending BTC to an external wallet, it usually takes six confirmations to arrive.

      This can take anywhere from 20 minutes to a couple of hours depending on how congested the Bitcoin network is.

      If your transaction says “No Transaction Found”, then the transaction never left the sending wallet. In that case, you should contact the service provider of the sender’s wallet.

    See our guide on how to deposit Bitcoin to your Paxful wallet and how to send funds from your wallet. Additionally, here’s a quick look at the Paxful fees.

    Why is a different wallet address showing up on the transaction?
    Since we use a custodial wallet, you may see a different wallet address listed on the transaction inputs, but don't worry, this is normal.

  • Receiving and Depositing Bitcoin (BTC)

    When you sign up for a Paxful account, you get a free Bitcoin wallet. With this free wallet, you also get a Bitcoin wallet address. This address is a combination of numbers and letters (both uppercase and lowercase) in no apparent sequence. 

    This address never expires, so just copy it and use it to receive Bitcoin from other wallets or Bitcoin ATMs. You can also generate a new Bitcoin address for extra privacy/security. You can create as many Bitcoin addresses as you want and use them any number of times.

    When other people send Bitcoin to this address, it goes straight into your wallet. It’s not always instant. This is because Bitcoin transactions are non-reversible and the Bitcoin network needs to confirm the transaction two times before the Bitcoin is released into your Paxful wallet. Once the Bitcoin is sent, you should get a notification saying “incoming Bitcoin at 0 confirmations” or "Unconfirmed". When that count reaches two, you should see your Bitcoin in your Paxful wallet. This can take anywhere from 20 minutes to a couple of hours depending on how busy the Bitcoin network is.

    To deposit Bitcoin to your Paxful wallet:

    1. Log in to your Paxful account and click Wallet.

    2. Click Receive under your Bitcoin wallet.
    Depositing_Bitcoin_.png

    3. From there, you can copy your Bitcoin wallet address or use the QR code.

    depositing_btc.png

    4. Enter your Paxful wallet address into the app, website, or ATM. If you have scanned the QR-code, your wallet address appears on the screen of the app or ATM automatically.
    5. Confirm sending Bitcoin to your Paxful wallet.

    Warning: Make sure that you are sending Bitcoin and not any other cryptocurrency (Litecoin, Bitcoin Cash, Ethereum, etc.). Such transactions can result in a loss of your funds.

    Note:

    • Make sure you have enough funds in the sending wallet or ATM. Be aware of the minimum BTC transaction amount.
    • Remember that the person sending the Bitcoin will bear the transaction fee. Usually, the amount you send, the amount you will be charged as a network fee, the total amount deducted from your wallet are clearly shown to you before you confirm the Bitcoin transfer.

    Wait for your BTC to arrive and start trading as soon as you are ready. You can also always check your Bitcoin transaction status.

    Additionally, see how to send Bitcoin from your Paxful wallet. If you want to start trading, check out the following guides: creating sell Bitcoin offer and selling Bitcoin.

  • Sending Bitcoin

    Paxful offers a free wallet service for Bitcoin. One of the features of this service is to enable you to send Bitcoin to both internal and external cryptocurrency wallets. To send Bitcoin from your Paxful wallet:

    1. Log in to your Paxful account and click Wallet.

    Sending_BTC_-_Step_1.png
    The Wallet page appears.
    2. Click SEND under your Bitcoin wallet.

    Sending_BTC_-_Step_2.png
    The Send from Paxful wallet dialog box appears.
    3. Enter the Bitcoin amount into BTC AMOUNT field, the recipient’s Bitcoin address into TO BITCOIN ADDRESS field, or if you’re sending BTC to another Paxful user, you can enter their username into the TO ANOTHER PAXFUL USER field and click Continue.
    Sending_BTC_-_Step_3.png
    4. Double-check the receiver’s Bitcoin address (or username) and the amount you are sending. If you have enabled 2FA for sending Bitcoin, enter your 2FA one-time password into the 2FA Code field and click Send bitcoin now.Sending_BTC_-_Step_4.png

    Your Bitcoin is sent successfully and you are redirected to the Wallet page.

    Note: To be extra sure of the transaction status, go to the Transactions tab and check your last outgoing transaction. If you made a transaction to a non-Paxful wallet, read our article on how to check transaction status for such transfers.

    Warning: If your country is in the OFAC grey list, sending Bitcoin to an external wallet requires you to verify your ID.

    To send Bitcoin to your Paxful wallet check out how to deposit Bitcoin. Also be sure to take a look at Paxful wallet fees.

     

See all 13 articles

Ethereum (ETH)

  • Ethereum (ETH) FAQs
    What is Ethereum?

    Ethereum is an open-source blockchain network where companies can build products on. Ethereum is the second largest cryptocurrency, after Bitcoin. Ethereum is also a network where ETH (Ethereum), USDT (Tether), and other cryptocurrencies transact on.

    Who can trade Ethereum on Paxful?
    Only ID-verified users can trade or convert Ethereum on Paxful. 
    Note: Not everyone has access to ETH yet, but we're working on opening this up to everyone soon!
    What are the fees for converting Ethereum?
    For a full breakdown of Ethereum fees, check out this article.
    Can my Ethereum transaction be cancelled or reversed?

    Unfortunately, Ethereum transactions can’t be cancelled or reversed. For more information, check out this article

    What is the minimum Ethereum I can sell, buy, or convert?
    The minimum amount you can sell, buy, or convert is 10 USD.
    How can I buy or sell Ethereum?

    To buy or sell Ethereum as you would normally buy or sell Bitcoin in the marketplace: 

    1. Head to the buy and sell pages to see a list of the current Ethereum offers
    2. You can also create your own Ethereum offers (you just need to be ID verified)
    3. You can also convert your BTC or USDT into ETH in your Paxful wallet
    How do I get my Ethereum wallet address?

    Head to the Wallet tab and click Receive in the Ethereum section.

  • Sending Ethereum (ETH)

    Sending Ethereum (ETH) from your Paxful wallet is easy! Check out the steps below to get started:

    1. Log in to your Paxful account and head to the Wallet page.
      Sending_Ethereum_Step_1_.png
    2. Click “Send” under your Ethereum wallet.
      Sending_Ethereum_Step_2.png
    3. Enter in the amount of ETH that you’d like to send and the recipient’s address. Once that’s done, hit “Continue”.
      Sending_Ethereum_Step_3.png
    4. Next, you’ll see a confirmation page. Double check that your recipient’s address is correct here! If you're sending ETH to an external wallet, you will also see the current fees associated with this transaction at this step. To learn more about this fee, check out this article. You’ll also need to enter in your 2FA code if you have it set up for this step. Once you’re ready and you’ve confirmed all of the information is correct, hit “Send Ethereum now” and you’re good to go!
      Sending_Ethereum_Step_4.png

    Notes:

    • After ETH is sent to an external wallet, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan to track.
  • Receiving and Depositing Ethereum (ETH)

    If you’re looking to deposit ETH into your Paxful wallet, check out the steps below to get started:

    1. Log in to your Paxful account and head to the Wallet page
      Depositing_Ethereum_Step_1.png
    2. Click “Receive” under your Ethereum wallet
      Depositing_Ethereum_Step_2.png
    3. You'll now see your wallet address here, allowing you to copy and paste the address, or you can use the QR code. You’ll also see the current fee associated with receiving ETH in your Paxful wallet at this time—take a look at this article for more information on fees. Please make sure the amount you’ll be receiving is worth more than the fee! 
      Depositing_ETH_Step_3.1.png
      Depositing_ETH_Step_3.2.png

    Notes: 

    • If ETH is sent from an external wallet, the transaction needs 12 confirmations on the blockchain to be successful. You can check out the status of the transaction through Etherscan here. Just grab the transaction ID from your Paxful wallet here and enter it into Etherscan to track.