Paxful Update

[wellington]

Never used it myself : P2P Bitcoin Exchange Paxful Back Online After Temporary Suspension it however appears to be coming back online.

 

[troubled soul]

Rise of crypto is inevitable

 

[VESTANON]

Good Stuff, Quite a reputable P2P platform to say the least.

Used paxful for awhile...

its onramp peer2peer market, was quite dynamic as well as catering to various swapping channels for crypto.

would access the platform shortly with update here on current changes, scenarios, etc if any

 

[TheCryptoAnt]

and it STANDS THERE

U N F A Z E D

 

[Jorozey]

I would rather use LocalCoinSwap.com, AgoraDesk or Bisq.

While Bitcoin fees are so high, LCS offers trading of BNB and USDT BEP20 where transactions fees are pennies

 

[aage]

Never used it myself : P2P Bitcoin Exchange Paxful Back Online After Temporary Suspension it however appears to be coming back online.

wait at least a year after they come online before you use them. Won't touch them right now.

 

[VESTANON]

Paxful Current Changes noticed after Temp Shutdown:

1. USDC introduced though not precise on when this function was adopted by the platform..(prior to shutdown or after shutdown).

2. Transfers Crypto to Fiat Via Bank acct,
seems bank transfers are below the 10k threshold.

3. Eth balance from 2022, prior to shutdown still intact.

4. Levels of KYC as usual:
email addy and phone No. Verified Lv1(1k USD)
ID Verification Lv2(10k USD LIMIT)
POA Verification Lv3( UNLIMITED)

5. Total TRX history before temporary shutdown available

6. Added USDC incoming wallet,with swapping capabilities to BTC/ETH/USDT

7. introduction of Lighting Network as as a standalone Tab...didnt notice this prior to shutdown..

8. noticed swapping rate USDT to FIAT at lower rates compared to other P2P Crypto platforms,listing higher USDT to Fiat Rates.... probably buyers/sellers still abit wary and cautional..So as to negate risk factor of previous shutdown..

9. Previous Vendors traded with, online,visible and trading, most vendors all purchasing crypto and swapping at lower rates...

10. ability to sell and buy crypto without the Vendor/buyer verifying or requesting additional docs from seller.

11. paxful university, not sure when introduced, prior or before Temporary Shutdown...

12: functional popular Crypto to Fiat Channels: available for
Wise
Lesser Known Banks,
Paypal
2checkout
e-gift cards
Game items.

thus far as @aage indicated, caution and platform runtime should be allowed.

typically 6mths-1yr or more...

current pratical use case for low amount should be suitable enough.

 

[wellington]

My understanding - the partner that was stealing from the company - has taken over the company.

I'd give it a wide berth

 

[BarleyMalt]

My understanding - the partner that was stealing from the company - has taken over the company.

I'd give it a wide berth

No that's not true. There was a conflict after one of the cofounder left on parental leave, and returned only to see himself being pushed out of the company. A legal fight happened, after which Paxos left most of its employees and had to close.

Now that the ousted cofounder seems to have recovered Paxos' IP, operations are resuming.
Details here: Control Dispute At Bitcoin Exchange Paxful Hits Chancery - Law360

 

[wellington]

No that's not true. There was a conflict after one of the cofounder left on parental leave, and returned only to see himself being pushed out of the company. A legal fight happened, after which Paxos left most of its employees and had to close.

Now that the ousted cofounder seems to have recovered Paxos' IP, operations are resuming.
Details here: Control Dispute At Bitcoin Exchange Paxful Hits Chancery - Law360

My understanding based on the legal docs, and discussions on Twitter - was that that co-founded pilfered the exchange and bought sports cars etc.

 

[Cloudbanck]

Which co-founder pilfered and bought sports cars? Got a link to the twitter discussions? I find it hard to make sense of this conflict. I switched over to Noones when Paxful shut down, and Noones is basically a clone of Paxful. Not sure whether to switch back or not.