Paxful is a peer-to-peer trading platform where users can buy, sell, and trade cryptocurrencies. It was founded in 2015 by Ray Youssef and Arthur Schaback and offers a wide range of payment solutions that are not available on centralized cryptocurrency exchanges. The most important aspect of Paxful is that it is completely peer-to-peer, meaning that there is no middleman and that you directly trade Bitcoin and other cryptocurrencies with people all over the world.

The main difference between Paxful and Zengo is that Zengo is a non-custodial cryptocurrency wallet app that additionally acts as a gateway to Web3, NFT marketplaces, Metaverse gaming, and decentralized finance, whilst Paxful only allows users to trade cryptocurrencies peer-to-peer with each other.

Paxful charges no fees at all when you buy or receive cryptocurrencies. Withdrawing crypto comes with dynamic fees of up to 1% of the total amount of coins withdrawn. 

Paxful has four different levels of verification, with withdrawal limits increasing as you progress through the various KYC stages. At level 0, you can withdraw nothing, whilst after verifying your phone, your limit is set as $1,000. Once you have verified your email and identity as well, this limit gets increased to $10,000. After verifying your address, your limit gets lifted, and your maximum withdrawal amount becomes unlimited.

Paxful withdrawals may take up to 24 hours to process. Luckily, Paxful lets you know when withdrawal requests are processed. It is also possible to check the status of your transfer by hitting on the “Transactions” button located within Paxful’s UI to get a momentary update.

The most common problems that can occur whilst withdrawing crypto from Paxful are that you accidentally enter the wrong receiving address, blockchain network, memo, or tag. For this reason, we always recommend double-checking whether you have filled in the right details. Additionally, sometimes withdrawals can take longer than the promised 24 hours. In this case, we recommend contacting Paxful support to find out why your transaction is taking longer than usual. As there are many reasons why your Paxful account can be suspended, locked, frozen, on hold, banned, or limited that can influence crypto withdrawals from the site, we suggest carefully checking the conditions that caused it, which should be emailed to you from Paxful by their support team.

To withdraw crypto to fiat on Paxful, log in to your account and head over to your Paxful wallet. Here, you tap the ‘“Transfer to Bank’’ button. You will see the current conversion rate and associated fees before you confirm your transaction. Once you agree, simply hit ‘’Send’’ and the transaction will take place. Alternatively, you could withdraw your crypto from Paxful to Zengo and decide to sell it for fiat at a later stage.