Paxful Reduces External Wallet Transaction Fees by 20%

Paxful has made a 20% reduction in external wallet transaction fees. Users of the largest P2P crypto marketplace across Africa now have something to smile about this 2021. This 20% discount takes effect today, 11th January 2021. Meanwhile, the discount on fees for external wallet transactions should last throughout 2021 and perhaps indefinitely.External Wallet Transaction Fees

Paxful like other P2P merchant companies charges a fee for all send out from a Paxul wallet to an external wallet. Prior to this development, below are the fees on a transaction from a Paxful wallet:

  • $0 – $9.99 = 0.0001 BTC
  • $10 – $19.99 = 0.0002 BTC
  • $20 and above = 0.0005 BTC

The first 5 BTC transactions a customer makes on Paxful is free of charge. Thereafter, a $1.00 or 1% fee of the sending amount applies for every other transaction. Meanwhile, whichever of $1 and 1% of the sending amount is greater will be charged as a transaction fee.

About Paxful

Paxful is the largest P2P crypto marketplace across Africa. The company made a recent announcement that Nigeria is responsible for a greater percentage of its customers. Paxful has over 1.3 million users and Nigeria is its second-largest market all over the world.

Also, in Kenya, the company is making big figures. Over 60,000 new users registered in 2020 alone. The company also processed $40,000 in trade volumes in Kenya last year.

The new discount on external wallet transaction fees will definitely bring in more users to Paxful.

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