Paxful Cryptocurrency Exchange: A Peer-to-Peer (P2P) Trading Platform

Paxful is a peer-to-peer (P2P) cryptocurrency exchange that allows users to buy and sell Bitcoin and other cryptocurrencies directly with one another. Founded in 2015, Paxful is popular in Africa, including Kenya, due to its flexible payment options, including MPESA, PayPal, bank transfers, and gift cards.

Key Features of Paxful

✅ Wide Payment Methods: Users can buy and sell crypto using over 350 payment methods, including MPESA, Airtel Money, bank transfers, PayPal, gift cards, and mobile money services.

✅ Peer-to-Peer Trading: Unlike traditional exchanges, Paxful connects buyers and sellers directly, allowing them to negotiate and trade at agreed prices.

✅ Escrow Protection: Paxful uses an escrow system to hold funds during transactions, ensuring safety until both parties confirm the trade.

✅ No Centralized Control: Since it’s P2P, you don’t need to rely on a company to match your trades—you choose whom to trade with.

✅ Supports Multiple Cryptocurrencies: Initially, Paxful only supported Bitcoin (BTC), but now it includes Ethereum (ETH) and USDT (Tether).

✅ Mobile-Friendly: Paxful has a mobile app that makes it easy to trade on the go.

✅ Strong Presence in Africa: Many Africans use Paxful for remittances, payments, and investment, making it a top choice in Kenya, Nigeria, and Ghana.

How to Buy Bitcoin on Paxful in Kenya (Using MPESA)

1️⃣ Sign Up – Create a free Paxful account.

2️⃣ Find a Seller – Search for sellers who accept MPESA as a payment method.

3️⃣ Initiate Trade – Enter the amount you want to buy and start the transaction.

4️⃣ Make Payment – Send money via MPESA to the seller’s number.

5️⃣ Confirm & Receive BTC – Once the seller confirms, Paxful releases your Bitcoin.

Pros & Cons of Using Paxful

Pros:

✔️ Many payment options, including MPESA.

✔️ No need for a bank account.

✔️ Secure escrow system to prevent scams.

✔️ Easy to use, even for beginners.

Cons:

✖️ Higher fees compared to centralized exchanges.

✖️ Risk of dealing with dishonest sellers (always check reviews).

✖️ Prices can be higher than market rates due to seller markups.

Is Paxful a Good Choice?

Paxful is one of the best platforms for Kenyans who want to buy Bitcoin with MPESA. However, due to its higher fees and risks of dealing with individuals, it’s advisable to trade carefully, only with trusted sellers.