# Paxful review: KYC policy, privacy and safety grades

> 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.

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

## Key facts
- **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
- **Official website:** https://paxful.com

## What it 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 the terms say about ID
Identity verification was required to trade on the platform before it closed.

## Features and warnings
- **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
- **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
- **Warnings:** May ask for ID: yes; Screens deposits: not in terms; Holds your funds: yes; Email required: yes; Phone number required: not in terms; Closed source: not in terms; Nobody accountable: not in terms

## Incidents on record
- 1 Oct 2025: Announced closure of all operations by the start of November 2025 (outcome: service closed). Source: https://techpoint.africa/partner-pages/paxful-is-shutting-down-here-are-5-alternatives-for-nigerians/

## 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.

## Sources
- https://techpoint.africa/partner-pages/paxful-is-shutting-down-here-are-5-alternatives-for-nigerians/
- https://www.spark.money/tools/bitcoin-p2p-exchange-comparison

How grades are calculated: https://nokycscore.com/methodology