Paxful Review: A Peer-to-Peer Crypto Marketplace with Wide Fiat Coverage

Paxful is a peer-to-peer (P2P) cryptocurrency marketplace that allows users to trade digital assets directly with each other. Founded in 2015, Paxful operates in over 140 countries and supports more than 300 payment methods, including cards, bank transfers, SEPA, PayPal, and gift cards.

The platform's extensive fiat coverage is one of its key strengths, with support for over 100 local currencies. This flexibility can be beneficial for users who don't want to rely on a single payment rail.

Paxful's P2P model also offers advantages such as a security stack that includes KYC, escrow, and moderation, which reduces common failure points in peer-to-peer transactions.

However, the platform has some limitations. It only supports trading in four major cryptocurrencies: BTC, ETH, USDT, and USDC. Additionally, seller escrow fees can be high, and users from the US are currently unable to access the platform.