Paxful has emerged as one of the best and safest peer-to-peer marketplace to sell and buy bitcoins. The platform is trusted by over 3 million users and has billions of $ in global volume. It has also raised the standard of the P2P marketplace globally.
However, Paxful is not the only platform in the market that allows you to buy and sell bitcoins instantly. Many suitable alternatives offer the same features and functionalities of Paxful and are trusted by users.
Let us have a look at some best Paxful alternatives.
Best Alternatives to PAXFUL To Try In 2020
LocalBitcoins is a Finland based P2P bitcoin marketplace that was launched in 2012 and is one of the first exchanges to explore the idea of the P2P marketplace in the cryptosphere.
The site enables people from different countries to exchange their local currency to bitcoins securely using suitable payment methods. It incorporates a unique reputation rank system into its platform, that ranks each trader based on their past activities on the platform. Apart from this, other security features include escrow protection, two-factor authentication, login guard, and support and conflict resolution mechanism.
LocalBitcoins supports all major payment methods including bank transfer, credit card, wire transfer, PayPal, wallets, etc. It aims to support every suitable payment method its user community supports.
Buying and selling on the platform is completely free, however, the advertisers are charged a 1% fee on every completed trade.
There is no geographical restriction on LocalBitcoins and the services are available worldwide.
Why choose LocalBitcoins?
- Several layers of security for users on the exchange
- Accepts a wide range of payment options
- Competitive fee structure
- One of the reputed P2P exchange in the market
LocalCryptos is not a new platform, but a revamped version of LocalEthereum that was launched in 2017. It’s the same platform with the same team, but now supports more cryptos including Bitcoin, Ethereum, and Litecoin.
It’s a non-custodial P2P crypto marketplace that lets people buy and sell cryptos on their terms using any payment method.
LocalCryptos gives a greater focus on the security of cryptos and users’ funds on the platform. It is the first and largest platform to offer a non-custodial escrow system. The escrow-type depends on the type of coin selected. For example, it uses smart contracts for Ethereum escrows and P2WSH transactions for Bitcoin escrows. Also, it is the first platform to use end-to-end encrypted messages.
All these steps ensure financial forward secrecy, messaging forward secrecy, and prevents third-party tracking of critical data.
Now, concerning deposit and withdrawal options, LocalCryptos supports 40+ fiat transfer options including the option of cash in person. It has a 0.25% maker fee and a 0.75% taker fee.
LocalCryptos is supported in more than 130 countries including the USA, Russia, China, South Korea, etc.
Why choose LocalCryptos?
- Non-custodial escrow protection
- End-to-end encrypted messages
- Supports multiple cryptocurrencies
- Lower transaction fees
#3. Hodl Hodl
Hodl Hodl is a global P2P bitcoin trading platform, allows users to exchange cryptocurrency with each other without holding either of the two trader’s funds.
It uses a multisig escrow to enable the exchange of cryptocurrencies, which minimizes the possibility of fraud or any theft. In multisig (P2SH) contracts you control a key to the funds in escrow and the platform doesn’t hold any users’ funds at any moment. The platform simply acts as a decentralized exchange and doesn’t involve itself in any procedures.
Some of the unique features of Hodl Hodl are, it keeps all transactions fully anonymous (No KYC/AML), provides support for native Bech32 Segwit addresses, and is a cheap platform.
It applies a flat transaction fee of 0.6%, equally split between the two parties of the trade.
Hodl Hodl accepts all existing payment systems available worldwide and provides its services worldwide except for the US.
Why choose Hodl Hodl?
- Unique multisig escrow minimizes risks involved in transactions
- Anonymous transactions
- No KYC/AML
- Fast account creation and transaction process
LocalCoinSwap is a global P2P crypto marketplace to buy & sell bitcoin, Ethereum, and other cryptocurrencies.
Founded in 2015, the Hong Kong-based LocalCoinSwap is the world’s first multi-custodial exchange that offers you a mix of security with convenience. You can either opt for non-custodial escrow protection or cold-wallet secured escrow, depending on your requirements.
It has the widest selection of cryptocurrencies offerings compared to its peers and accepts over 250 payment methods including all the major ones.
Also, LocalCoinsSwap is no KYC exchange, which means it supports anonymous transactions. The registration, deposit, and buying & selling crypto is free. But, the users who post trade offers on the platform are charged 1% on every completed order. On withdrawal, users are charged the miners’ fee to process the transaction.
LocalCoinSwap is also the world’s first community-driven P2P exchange. The exchange gives 100% profit back to the crypto community via its token called LCS crypto shares. Therefore, if you own LCS cryptoshares, every three months you would receive a share of profits as dividends.
Why choose LocalCoinSwap?
- Innovative exchange platform
- Widest range of coin selection
- Secure, easy, and reputed platform
- Instant registration and No KYC exchange
CEX.io is a multi-functional crypto exchange that is suitable for both beginners and professionals for buying and selling cryptocurrencies. Started in 2015, CEX.io allows you to buy cryptocurrency using credit/debit card and wire transfer.
Available both on web and mobile platforms, its services include Instant Buy, CEX.io Exchange, CEX.io Broker, and CEX.io Aggregator.
The fee schedule is based on trading volume and starts from 0.25% as a taker fee and 0.16% as maker fee. The fee gradually decreases with the increase in trading volume.
CEX.io is registered in FINCEN and users need to fulfill the standard KYC rules.
Why choose CEX.io?
- Established and reputed platform
- Wide range of services and easy buying process
- Multiple coin support
- Fiat support
Conclusion: Best Paxful Alternative
In the cryptosphere, users always struggle to make a choice when it comes to selecting a platform. Not because they lack clarity or trust, but due to too many options available.
Here also, all the above discussed Paxful alternatives are best and are unique in itself, providing superior customer experience and reliability.
However, if you ask my choice, I would like to go with LocalBitcoins, LocalCoinSwap, and CEX.io, as they offer the best among others.