LocalBitcoins Vs Paxful Exchange

Posted by alicejenifferze on February 19th, 2020

Localbitcoins Vs Paxful - A Detailed Comparison

Cryptocurrencies, this majestic element keeps on bringing marvelous changes in the overall global economy. Almost all Hi-Fi industries have revamped their platforms to adopt cryptocurrencies. 

 Both Localbitcoins and Paxful is the Iconic Cryptocurrency Exchange Platform that offers the same services with almost similar fees. In the Crypto Market, both are head-on headstrong competitors.

 Here is the list, Comparison of Localbitcoins and Paxful

•  Currencies
•  Payment Options
•  Trading Fee
•  Supported countries
•  Buying Limits
•  Customer Support and Reviews
•  Trading Feature

Currencies support

LocalBitcoins, as well as Paxful, supports the only BITCOIN. Both Exchanges does not hold any fiat currencies in the website and allows user to buy to sell Bitcoins with fiat money.

Payment Options

LocalBitcoins support various payment options such as

•  Cash Deposit
•  QIWI
•  TELE2
•  M-PESA Kenya (Safaricom)
•  Ripple altcoin
•  Litecoin altcoin
•  Ethereum altcoin

In Localbitcoins, you can’t buy bitcoins with your Credit card directly but it allows you to use a credit card via PayPal Service.

When it comes to Paxful, it offers numerous Payment options which are broadly classified into six divisions

1. Bank Transfer
2. Online Wallet
3. Gift Card
4. Credit Card/ Debit Card payment
5. Cash
6. Digital Currencies

Trading Fee

Paxful Exchange does not charge you if you are a buyer and charges 1% trading Fee to the seller

In Addition to this, Sellers need to pay the Bitcoin Network fee for Bitcoin Miners and not for the Exchange Platform.

In Case of LocalBitcoins,

You need not pay for anything whether you are a buyer or a seller. Localbitcoins has an Amazing Ad Posting facility, Where you can post an ad for your need along with payment options. This exchange charges 1% to the post ad.

They also charge you certain money if you move your bitcoins from Localbitcoins Wallet to some other wallet.

Supported Countries

Localbitcoins have traders all over the globe and Paxful Exchange has restricted its service in some countries like Burundi, North Korea, Iran, Iraq, Cuba, Syria, Yemen, etc

Buying Limits

Paxful as well as Localbitcoins Offer Limitless Trading only after certain stages,

Trading Features

Localbitcoins is having a quick buy and quick sell features. In addition, LocalBitcoins allows traders to trade bitcoins locally by placing the trade orders. 

Paxful is descendent of LocalBitcoins, so it has all the basic trading features of LocalBitcoins. But, exceptionally paxful have integrated a binance interface to buy bitcoins directly from binance.