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Peer-to-peer (P2P) crypto exchange Paxful on March 4, 2023, announced that it was suspending its marketplace.
In a post published by Paxful’s CEO, the CEO said that they are not sure if the exchange will come back. In the post the CEO said:
“This will probably come as a big shock to many. While I cannot share the full story now, I can say that we unfortunately have had some key staff departures. Also, regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S. While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere.”
Looking for a cryptocurrency exchange and selecting the exchange to invest with can be a toil order and worse still being forced to look for another option due to the sudden shutdown of an exchange you had selected. For those of you who may be wondering what next after Paxful suspension of operations, we have compiled a list of the best Paxful alternatives that you could migrate to for a smooth continuation of your crypto experience.
Top 5 Paxful alternatives
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Register with eToro instantly Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.
Public
Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.
Register with Public instantly Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.
Binance.US
Binance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.
Register with Binance.US instantly
Bitstamp
World’s longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.
Register with Bitstamp instantly
Uphold
Create your account in minutes and start trading 90+ cryptos and other assets on the most flexible trading platform.
Register with Uphold instantly
Conclusion
While the recent Paxful suspension of operations could be a shock for many who are looking for a peer-to-peer (P2P) cryptocurrency exchange especially since it comes after the shutting down of LocalBitcoins, there are still many other P2P alternatives outside there.
The above list is our best picks that Paxful users can migrate to. Nevertheless, if you are looking for a specific cryptocurrency exchange, you can select from our list of the best cryptocurrency exchanges with low fees.
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