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.
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.
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.