Paxful traders and users have something to smile about in 2021 after the company announced an external wallet send out fees reduction by 20 percent.
The 20% discount kicks in beginning in January 11, 2020 and is expected to remain in effect throughout 2021, and possibly indefinitely.
Paxful charges a fee for every send out from a Paxful wallet to an external Bitcoin address.
Below are the current fees from a Paxful wallet to an external Bitcoin address (prior to the 20% discount):
- $0 – $9.99 = 0.0001 BTC
- $10 – $19.99 = 0.0002 BTC
- More than $20 = 0.0005 BTC
Sending Bitcoin to another Paxful customer is free of charge for the first 5 transactions sent per month. After that, a fee of $1.00 or 1% of the sending amount, whichever is greater, will be applied to each transaction sent to another Paxful customer.
Paxful is the largest P2P Bitcoin marketplace on the African continent. The company recently announced that Nigeria is its second largest market globally with over 1.3 million users.
In 2020, the company registered over 60, 000 new users and processed over $40 million in trade volumes in Kenya, one of its largest markets in Africa.
The new discount will no doubt be welcomed by the vast number of Paxful users in Africa.
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