Buying or Selling Bitcoin? Here's How to Avoid Paxful Fees!
If you're into cryptocurrency, you've probably heard of Paxful. This peer-to-peer marketplace allows users to buy and sell Bitcoin, Ethereum, Tether, Lightning, and more easily and quickly. You can even sell your Bitcoin directly for gift cards.
While Paxful never charges its users to buy cryptocurrency, they do , and these fees can add up quickly. This is especially true given the volatile nature of cryptocurrencies. DoNotPay can show you the best way to avoid being charged for selling Bitcoin on Paxful.
How Much Does Paxful Charge Per Transaction?
never charges users for buying or receiving cryptocurrency. However, they do charge a percentage of your transaction fee to sell cryptocurrency on the platform, as well as a fee for sending money using your wallet. This fee ranges from 0.5 percent of your transaction to 5% of your transaction, depending on what method you are using to cash out your cryptocurrency.
When sending cryptocurrency on Paxful, you pay a flat fee based on which currency you're using and what type of transaction you're performing.
Paxful Fees Explained
The following table lists all the fees Paxful charges for selling cryptocurrency.
|Payment Type||Percent of Transaction|
|Other Bank Transfer||1%|
|Goods and Services||1%|
|Google Play and iTunes Gift Cards||5%|
|All Other Gift Cards||3%|
Paxful allows you to transfer up to $1,000 of cryptocurrency per month for free between internal Paxful wallets. If you plan on sending more than that, expect to pay a fee of 1% of your transaction or 1 USD, whichever is greater. If you're sending currencies to an external wallet, you will pay flat fees based on the amount and type of the transaction.
|Trade Value (Currency Type)||Fee|
|$0.00-$9.99 (Bitcoin)||0.00008 BTC|
|$10.00-$19.99 (Bitcoin)||0.00016 BTC|
|$20.00 and up (Bitcoin)||0.0004 BTC|
|$0.00-$9.99 (Tether)||1 USDT|
|$10.00-19.99 (Tether)||2 USDT|
|$20.00 and up (Tether)||5 USDT|
|$0.00-$9.99 (Ethereum)||0.0005 ETH|
|$10.00-$19.99 (Ethereum)||0.001 ETH|
|$20.00 and up (Ethereum)||0.002 ETH|
|All Lightning transactions||1% of the amount being sent|
Paxful also charges a 0.5% fee for converting between types of cryptocurrency.
How to Avoid Paxful Fees on Your Own
There are a few different ways to end up giving less of your hard-earned cryptocurrency to Paxful.
- One way to reduce your fees on Paxful is to prioritize transactions that have lower fees. For instance, even if you know you're buying a Google Play gift card with your cashed-out cryptocurrency, it's better to transfer directly into your bank account than it is to pay the 5% fee for buying the gift card directly. This can save you especially large amounts of money on larger transactions.
- Another way to avoid fees on Paxful is to keep your trading small-scale. With the ever-variable value of Bitcoin and other cryptocurrencies, this may not be feasible in the long term, but you can transfer up to $1,000 of cryptocurrency per month for free between internal Paxful wallets. If you can keep your transactions to under this amount, you can avoid paying the fee of 1% of your subsequent transactions (or $1.00, whichever is greater).
How to Appeal Paxful Fees With DoNotPay
Here's how you can use DoNotPay to appeal fees:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
Why Use DoNotPay to Appeal Paxful Fees?
DoNotPay is the fastest, simplest way to appeal fees on Paxful. Instead of writing to Paxful's customer support team yourself, you can handle your case entirely within the DoNotPay app. This allows you to have all of your corroborating evidence in one place, making it easier to be refunded.
And because DoNotPay has helped people appeal fees on a huge variety of websites, you know we'll make the best case for you and give you the highest chance of success. You can also use DoNotPay to report crypto fraud to the SEC, report crypto hackers, and unfreeze your frozen crypto funds.
DoNotPay Can Help You Avoid Charges on Multiple Platforms With the Touch of a Button
It isn't just and other cryptocurrency trading sites that DoNotPay can help you with. Indeed, we can help you appeal fees on a huge variety of transactions, such as:
- Exemption from your HOA fees
- Pay less in airline baggage fees
With just the click of a button, DoNotPay can help you avoid fees on eBay, PayPal, Shopify, and more.
What Else Can DoNotPay Do for You?
As the world's first robot lawyer, DoNotPay can help you with more than avoiding transaction fees. We can help you:
- Discover and apply for scholarships
- Notarize any document
- Create virtual credit cards, so you aren't charged after free trials
- Apply for a hunting or fishing license
- Take passport photos
- Appeal parking tickets in any city.
Sign up today.