Paxful and Coinbase are both platforms that allow you to buy Bitcoins and with the rising nature you should invest while you can. The two websites are a bit different, Paxful being a marketplace and Coinbase acting as a broker, but ultimately you get the same thing, Bitcoins in your wallet! Today we will be taking a deeper look into Paxful vs Coinbase to decipher their pros an cons, lets jump into it.
Paxful vs Coinbase
Beginning with Paxful, they boast over 8,000 transactions on a daily basis making them an extremely active marketplace. Out of all of the peer-to-peer exchanges, they have quickly become one of the most trusted. Their payment methods include PayPal, gift cards, and credit cards meaning you have many options to choose from.
Paxful charges sellers a flat 1% fee but you can set any price you like so always take that into account. Buyers pay no fees at all but have to agree to the sellers prices of course. Since you can pay with anonymous methods as well, your identity is kept safe. The speed is also lighting fast so expect buying and selling to be instant. Since this is a marketplace though, you need to perform your own due diligence and only trade with reputable members.
Headquartered out of San Francisco, California, Coinbase is one of the world’s best Bitcoin broker exchanges. They help broker other coins like Ethereum and Litecoin in over 30 fiat currency countries. On top of that, they offer transactions and storage in 190 countries making them readily available to many people.
Since safety is a high priority with Coinbase, you will be required to submit identification to lift account limitations. Assuming your serious about cryptocurrency investing, this shouldn’t be a hiccup. They also go out of their way to stop any suspicious behavior so expect to get banned if you log in with a VPN for example.
Transaction time is varied depending on location. For US citizens using credit card, debit card, or a USD wallet, expect instant purchases. Bank wire transfers will delay the process upwards to a week since they take 3-5 business days themselves. In general though, Coinbase will make your funds available as soon as they receive payment.
Overall Paxful and Coinbase have many similarities in terms of payment methods, speed, and features. What it comes down to is determining if you’d rather trade on a marketplace(Paxful) or be doing it through a broker(Coinbase). We suggest that you sign up for both and see which you like better!