Paxful Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Paxful trading signals. You will learn what kinds of trading signals Paxful offers and what the conditions for using them are.
Short introduction of Paxful
The Paxful exchange is a peer-to-peer trading platform for Bitcoin, Tether, and Ethereum trading instruments. There are over 350 ways to buy and sell these cryptocurrencies. The company has its offices in 21 countries and has almost 5 million active users. A free cryptocurrency wallet, which is provided when registering on the exchange, is among the distinctive features. The security system is based on a safekeeping account, where the funds of the seller and the buyer shall be reserved to avoid the dishonesty of one of the parties.
| 💰 Account currency: | XBT |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | No |
| 💱 Spread: | Fixed commission on transactions |
| 🔧 Instruments: | Cryptocurrencies Bitcoin, Tether, and Ethereum are bought/sold for any world currencies |
| 💹 Margin Call / Stop Out: | No |
Paxful Pros and Cons
👍 Advantages of trading with Paxful:
•minimum registration and verification requirements;
•the platform is fully localized and translated into 21 languages;
•hundreds of tools for cryptocurrencies buying and selling;
•many payment methods, from bank transfers to e-wallets;
•over 12 thousand reliable sellers, as well as buyers;
•free Bitcoin wallet with BitGo is enabled;
•simple and profitable affiliate program.
👎 Disadvantages of Paxful:
•there are only three cryptocurrencies on the website which are Bitcoin, Tether, and Ethereum;
•the broker focuses on several regions, such as the USA, Nigeria, China, and India;
•the website provides almost no analytics.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Paxful Trading Signals
The exchange doesn’t charge a fee for using the bitcoin wallet. Also, there are no commissions charged when buying cryptocurrency. The service only takes a commission on sales. All incoming transactions on the wallet are free, all outgoing is is subject to a commission. Fees differ for Bitcoin, Tether, and Ethereum. A conversion fee is also charged.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $0.5 depending on the transaction type | From $1 or 1% upon reaching the amount of $1,000 |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Paxful does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
Can I subscribe to several signal providers?
As a rule, brokers allow traders to do that. It is important to subscribe to several providers or newsletters, as it helps diversify the risks.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.