• About
  • Advertise
  • Careers
  • Contact Us
Wednesday, June 25, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Digital Assets

[BREAKING] Peer-to-Peer Exchange Paxful Suspends Marketplace

by Justice Godfrey Okamgba
April 4, 2023
in Digital Assets
0
[BREAKING] Peer-to-Peer Exchange Paxful Suspends Marketplace
UBA
Advertisements

One of the largest peer-to-peer (P2P) cryptocurrency exchanges in the world in terms of volume, Paxful, has announced the suspension of its market.

The company’s founder and CEO, Ray Youssef, made the news and cited major personnel departures and regulatory difficulties for the sector as justifications.

Youssef issued a statement that read, “We have chosen the most secure approach and advise you to consider self-custody and trade elsewhere while we work through these challenges.”

Youssef claims that all customer monies are there and correct, and that consumers can access their money by using the Paxful Wallet.

To facilitate the process, Paxful is recommending options such as Exodus Wallet and Muun Wallet for customers to self-custody their funds.

The company is also offering an easy migration to other options for non-U.S. users, including Noones, a new P2P company dedicated to the Global South, and Bitnob, which makes it easy for Africans to connect with Bitcoin.

Youssef personally vouches for Noones, which offers lower trading fees, a cheaper wallet, a “more generous affiliate program than Paxful’s program, a more efficient KYC process, local dispute moderators,” and a “friendlier TOS policy with no accounts being locked.”

The news of Paxful’s suspension comes amid growing regulatory scrutiny of the cryptocurrency industry, particularly in the U.S. Paxful’s move highlights the challenges facing the industry and the importance of self-custody for investors.

It also underscores the need for more secure and reliable P2P cryptocurrency exchanges that can withstand regulatory pressures and ensure the safety of customers’ funds.

[BREAKING] Peer-to-Peer Exchange Paxful Suspends Marketplace

One of the largest peer-to-peer (P2P) cryptocurrency exchanges in the world in terms of volume, Paxful, has announced the suspension of its market.

The company’s founder and CEO, Ray Youssef, made the news and cited major personnel departures and regulatory difficulties for the sector as justifications.

Youssef issued a statement that read, “We have chosen the most secure approach and advise you to consider self-custody and trade elsewhere while we work through these challenges.”

Youssef claims that all customer monies are there and correct, and that consumers can access their money by using the Paxful Wallet.

To facilitate the process, Paxful is recommending options such as Exodus Wallet and Muun Wallet for customers to self-custody their funds.

The company is also offering an easy migration to other options for non-U.S. users, including Noones, a new P2P company dedicated to the Global South, and Bitnob, which makes it easy for Africans to connect with Bitcoin.

Youssef personally vouches for Noones, which offers lower trading fees, a cheaper wallet, a “more generous affiliate program than Paxful’s program, a more efficient KYC process, local dispute moderators,” and a “friendlier TOS policy with no accounts being locked.”

The news of Paxful’s suspension comes amid growing regulatory scrutiny of the cryptocurrency industry, particularly in the U.S. Paxful’s move highlights the challenges facing the industry and the importance of self-custody for investors.

It also underscores the need for more secure and reliable P2P cryptocurrency exchanges that can withstand regulatory pressures and ensure the safety of customers’ funds.

Loading

Advertisements
MTN ADS

Author

  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

    View all posts
0Shares
Tags: BitcoinCryptoPaxful
Justice Godfrey Okamgba

Justice Godfrey Okamgba

Next Post
Bolt Women’s Summit

Notes from Bolt Women’s Summit on Financial Independence, Leadership and Self Defence

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Seven Highlights from Tony Elumelu's Meeting with President Tinubu

Seven Highlights from Tony Elumelu’s Meeting with President Tinubu

2 years ago
MTN Nigeria Hikes Data Prices by Up to 200%, Subscribers Furious Over Sharp Increases

MTN Nigeria Hikes Data Prices by Up to 200%, Subscribers Furious Over Sharp Increases

4 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.