A message from Ray

СEO of Paxful

Today, Paxful will be suspending its marketplace. We are not sure if it will come back.

This will probably come as a big shock to many. While I cannot share the full story now, I can say that we unfortunately have had some key staff departures. Also, regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S. While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere.

Solutions

The Paxful Wallet will be up for customers to retrieve their funds.

Right now, safeguarding customer funds is my biggest priority. Here is what I am doing:

• All customer funds are all accounted for. Please withdraw them and if you can — self-custody. We recommend options such as Exodus Wallet and Muun Wallet.
• We’re offering an easy migration to other options for non-U.S. users to platforms like Noones — a new P2P company dedicated to the Global South. All the things you do on Paxful you can do on Noones, including:
  • Lower trading fees
  • One of the cheapest wallets
  • An affiliate program even more generous than Paxful’s program
  • A more efficient KYC process
  • Local dispute moderators
  • A much friendlier TOS policy with no accounts being locked
  • I personally vouch for Noones, you can trust them
• Bitnob — who makes it easy for Africans to connect with Bitcoin.

Ray Youssef

Paxful Founder and CEO