Bitcoin Wallet

The Bitcoin you sent may not appear immediately in the recipient's wallet balance but that doesn't mean that the 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.

2. 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.

If you notice that Bitcoin sent to your Paxful wallet isn’t showing up on your balance, it doesn’t mean that your funds are lost. Here's what you can do:

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.

2. 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.

3. 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.

You can easily send your Bitcoin from your Paxful Wallet to an external wallet as we support major Bitcoin wallet types except for one.

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.

Sending Bitcoin from one Paxful wallet to another is instant. But for external wallet transfers, 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.

When you sign up for a Paxful account, you get a free wallet and a Bitcoin address where you can send and receive Bitcoin. 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. Look for Bitcoin (BTC) currency under Assets and click RECEIVE.

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

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.

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.

Signing up for a Paxful account comes with a free wallet that enables you to send Bitcoin to both internal and external wallets. To send Bitcoin from your Paxful wallet:

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

The Wallet page will then appear. 

2. Look for Bitcoin (BTC) currency under Assets and click SEND.


The Send cryptocurrency dialog box will then appear.

3. Enter the recipient’s Bitcoin address into SEND TO field, or if you’re sending BTC to another Paxful user, you can enter their username by clicking PAXFUL USER. Indicate the Bitcoin amount in the AMOUNT TO SEND field and click Continue.

4. Double-check the receiver’s Bitcoin address (or username) and the amount you are about to send. If you have enabled 2FA for sending Bitcoin, enter your 2FA one-time password into the 2FA Code field and click Send.

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

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

You can withdraw your Bitcoin from your Paxful account by sending it out from your Wallet page to another wallet outside of Paxful.

Check our guide for more information about the process. Also, be aware of the types of Bitcoin addresses we support and note our wallet fees.  

Creating a Paxful account gives you a free Bitcoin wallet and address. To maximize privacy, you can change your Bitcoin address by:

1. Log in to your Paxful account and head to the Wallet page
   
   
   
2. Look for Bitcoin (BTC) currency under Assets and click RECEIVE.
   
   The Receive Bitcoin dialog box will then appear.
   
   
3. Select Get new address
   
   
4. From there, your new wallet address will appear.
   
   You can use a new Bitcoin address each time you receive a deposit. Once you’ve received Bitcoin from an external wallet to the current BTC address, you can request a new address to be generated. Your older Bitcoin addresses will still work, you can find them on the Addresses tab.
    

Your funds are perfectly safe with us. We use BitGo as a wallet service provider, one of the most secure services on the market. Additionally, we provide you with all means to protect your funds within your Paxful account. However, the overall security of your Paxful wallet depends on the decisions you make.

Not only are our servers highly secure meeting the most stringent of compliance requirements but as an additional layer of security, two-factor authentication can be enabled whenever you log into your account and when you send out cryptocurrency. We support Google Authenticator, Authy, and SMS based two-factor authentication. Even though we offer all the mentioned security measures, it is up to you to set up a strong password, safely store it, and choose to activate two-factor security for your account and transactions.

Speaking of security, beware of any phishing sites. Always ensure that you are on https://paxful.com before you enter any account details or other sensitive information. Never share your account details with anybody. Paxful support will NEVER ask for your account password or one-time password. Note that Paxful has no Skype or phone support. It is impossible for Paxful to take all the phishing websites down, so you, as a user, should be vigilant and learn how to protect yourself from the scammers out there. 

Read more on how to protect your wallet in our security guide. 

The amount sent and the amount received on Bitcoin transactions may differ due to transaction fees and currency rate differences.

While sending Bitcoin it is important to bear in mind the transaction fees and possible currency rate differences.

Let’s imagine you need to send 0.05 BTC to another wallet.

Sending BTC between Paxful wallets.

If you send this amount to a Paxful wallet, it means that you are making an internal Paxful transaction. There is no fee for the 1,000 USD worth of internal transfers each month. After the limit is reached, a fee of  - 1 USD or 1% of the amount sent, whichever is greater, is charged. So the amount deducted from your wallet will be exactly 0.05 BTC (0.05 BTC + 1 USD). Currency rate differences will also stay the same. So if while sending 0.05 BTC it is equal to 100 USD, the recipient will see the same rate after receiving the transaction. This is due to the fact that transactions within Paxful are instant. So the effect of currency fluctuations is eliminated in such internal wallet transactions.

Sending BTC between Paxful and external wallets.

Sending funds to an external wallet will have a fixed Paxful transaction fee (for the full list of fees, check out this article). The amount of crypto you're sending in addition to the fee will be deducted from your wallet. The currency rate will also be different from the one the recipient will see in their wallet. Why?

1. Paxful may use different rates from those used by the recipient's wallet service. So while 0.05 BTC in a Paxful wallet may be equal to 100 USD, in another wallet service it may be equal to 101 USD or 99 USD, for example.
2. External transactions may take some time. During this timeframe, the Bitcoin value may change. This is out of control of any cryptocurrency service. So if in your Paxful wallet, 0.05 BTC appears as 105 USD, in the recipient's wallet it may appear to be worth less or more, for example, 100 USD or 115 USD, due to a drop or increase in the value of Bitcoin. Remember that you are sending Bitcoin and not fiat amount. So the recipient will still receive 0.05 BTC in this case.
3. Some other wallet services may have a deposit fee. Paxful does not charge any deposit fee.

Blockchain transactions are irreversible. Unfortunately, Paxful has no control over them and cannot cancel or reverse transactions. This applies in all cases:

• If you were hacked and someone sent out your coins.

• If you sent crypto to the wrong address.

• If you released crypto in a trade by mistake.
  
  
• If you were scammed.

Once your cryptocurrency is sent out, it cannot be reversed. Please read our security guide to increase the protection of your funds.

If you still want to try tracking the cryptocurrency address you accidentally sent your crypto to, you can use tools like Block Explorer. If you accidentally released your crypto to a trade partner or if you think another Paxful user has scammed you, please contact our support team.

Learn about the minimum amount allowed by the Bitcoin blockchain before making any transactions or deposits on your Paxful wallet.

Currently, the smallest amount of Bitcoin you can send or receive in a transaction is 5460 Satoshis, which is equivalent to 0.0000546 BTC.

One of the reasons behind this limit is to prevent spamming transactions.

Please check our article on how to deposit Bitcoin, withdraw Bitcoin from your wallet, and explore our step-by-step guide to send Bitcoin from one wallet to another.

Bitcoin transactions are not always instant as it depends on the number of transactions processed by the blockchain at a given time.

It takes two confirmations from the network before your balance is fully available in your Paxful wallet. This is the industry standard for a truly secure wallet. This can take anywhere from five minutes to an hour, depending on the Bitcoin network. 

Here are factors that affect the speed of Bitcoin transactions:

• Miner's fee. The higher the miner's fee you choose to pay, the higher is the priority of your transaction within the blockchain.

• The blockchain processor service you (your provider) use. Paxful uses services of BitGo - the most secure and successful blockchain processing service in the world. If you transfer from your Paxful wallet to an external wallet which also uses BitGo, this significantly improves the speed of your transaction.
  
  
• All transactions made between Paxful wallets are instant.

Find out more about How To Check Bitcoin Transaction Status.