• Ethereum (ETH) FAQs
    Ethereum is an open-sourced blockchain technology that enables developers to build and deploy decentralized applications. Like Bitcoin, Ethereum is a distributed public blockchain network. the Ethereum blockchain focuses on running the programming code of any decentralized application.
     
    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?
    All users can trade and convert Ethereum with a verified email address and phone number. However, depending on your country, you may need to verify your address to sell Ethereum. 

    For a full list of the verification status needed for Ethereum transactions, please visit this article.
    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)

    It's so easy to send Ethereum (ETH) from your Paxful Wallet to another wallet, in or outside Paxful. Here's how you get started:

    1. Log in to your Paxful account and head to the Wallet page.
      Screen_Shot_2022-11-09_at_1.13.23_PM.png

      The Wallet page will then appear. 

    2. Look for Ethereum (ETH) currency under Assets and click SEND.
      Screen_Shot_2022-11-09_at_1.25.56_PM.png

      The Send cryptocurrency dialog box will then appear.

    3. Enter the recipient’s Ethereum address into SEND TO field, or if you’re sending ETH to another Paxful user, you can enter their username by clicking PAXFUL USER. Indicate the Ethereum amount in the AMOUNT TO SEND field and click Continue.
      Screen_Shot_2022-11-09_at_1.59.52_PM.png

    4. Double-check the receiver’s Ethereum address (or username) and the amount you are about to send.
      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. If you have enabled 2FA for sending crypto, enter your 2FA one-time password into the 2FA Code field and click Send.
      Screen_Shot_2022-11-10_at_9.54.07_AM.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)

    Paxful allows you to deposit and receive Ethereum using your Paxful Wallet. Learn our step-by-step guide on how to do this here.

    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
      Receive_Ethereum_.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. Please make sure the amount you’ll be receiving is worth more than the fee! 
      Receive_Ethereum_Page.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.