P2P Exchanges Since 2015 Reviewed 22 Oct 2026

Paxful is closed

Former global P2P crypto marketplace, shut down in November 2025

Closed

Status

No longer operating

Shutdown announced on 1 October 2025 with operations ending around 1 November 2025, per press coverage.

See alternatives

Paxful review in short

Paxful was a P2P exchange and is no longer operating. Shutdown announced on 1 October 2025 with operations ending around 1 November 2025, per press coverage.

Category: P2P Exchanges
KYC level: 4 of 4: ID mandatory
Sign-up: Email required
Custody: custodial
Jurisdiction: United States
Incidents on record: 1
Last reviewed: 22 Oct 2026

Cite this review

NoKYC Score, "Paxful review", reviewed 22 Oct 2026, https://nokycscore.com/service/paxful

Also available as plain text.

What Paxful is

Paxful was a large peer-to-peer cryptocurrency marketplace and wallet provider, particularly popular in Africa, that let users trade through several hundred payment methods including gift cards. Identity verification was required to trade. According to press coverage, the company disclosed on 1 October 2025 that it would close all operations by the start of November 2025, citing a historical legal case, compliance weaknesses and the cost of remediation, and urged users to withdraw balances before the cut-off. The platform had already suspended operations temporarily in 2023 during a dispute between its founders.

What Paxful offers, and what to watch

2 of 16 privacy and safety features, 3 warnings in its terms.

"Not stated" means its own pages do not say.

Identity

ID never required No
No account needed No
No email needed No
No phone number Not stated

Payment

Accepts Monero Not stated
Accepts Lightning Not stated
Accepts cash Yes Cash by post or in person: no bank and no blockchain record.

Access

Tor onion address Not stated
Works without JavaScript Not stated

Trust

Never holds your funds No
Refund without ID Not stated
Escrow it cannot spend alone Not stated
Open source Not stated
Independent audit Not stated
Company named Not stated
5+ years operating Yes Has operated continuously for five years or more.

Warnings

May ask for ID Yes The terms reserve the right to demand identity documents, often after a risk flag.
Screens deposits Not in terms
Holds your funds Yes The operator controls user funds while they are on the platform.
Email required Yes An email address is required to use the service.
Phone number required Not in terms
Closed source Not in terms
Nobody accountable Not in terms

Incidents on record

1 Oct 2025

high

Shutdown

Announced closure of all operations by the start of November 2025

Press coverage reports that Paxful disclosed on 1 October 2025 that it would close all operations by the start of November 2025 and urged users to withdraw balances before the cut-off. The company is reported to have cited a historical legal case that exposed compliance weaknesses and the cost and legal risk of remediation. The platform had previously suspended operations temporarily in 2023 during a dispute among its founders.

Service closed Source: techpoint.africa ↗

User reviews

Reviews never change a grade. Reviews with a transaction reference are marked.

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What to use now that Paxful is gone

All alternatives →

Bisq

Open-source desktop P2P exchange for bitcoin with no registration

Privacy 9.3

Safety 8.0

Haveno

Open-source protocol for non-custodial Monero trading over Tor

Privacy 9.2

Safety 7.3

Mostro

Open-source P2P bitcoin trading protocol over Nostr and Lightning hold invoices

Privacy 8.9

Safety 7.3

Peer

P2P fiat on/off-ramp settling through smart-contract escrow and payment-app proofs

Privacy 7.3

Safety 7.0

Paxful: common questions

Is Paxful still operating?

No. Shutdown announced on 1 October 2025 with operations ending around 1 November 2025, per press coverage. See the alternatives listed on this page.

Listing history

12 Oct 2026 Listing added. Facts and KYC level set from the service's own terms and documentation.
12 Oct 2026 Incident recorded: Announced closure of all operations by the start of November 2025