Paxful has halted its marketplace

April 04, 2023

Happy Tuesday, Bitcoiners!

It's The Bitcoin Dispatch, here with your daily dose of Bitcoin news! We'll cram everything you need to know about Bitcoin for the day into one 3-minute orange pill, so buckle up and let's go!

And you know we can't forget the best part - Memes and the Tweet of the day!

Here's what we're serving up for you today:

  • Paxful, a peer-to-peer Bitcoin exchange, has halted its marketplace.

  • Rise of Bitcoin P2P Exchanges.

Paxful, a peer-to-peer Bitcoin exchange, has halted its marketplace

The big cheese at Paxful, Ray Youssef, has announced that the company's Bitcoin marketplace is shutting down. Many bigwigs have left, and the regulators are breathing down their necks. Ray says not to worry because all your money is safe and sound. He suggests his customers get their corn on Exodus or Muun self custodial Wallets and hold their own keys. If you're not in the U.S., you could try out Noones, which Ray recommends. A message from Ray:

The Bitcoin industry is under the microscope, especially in the U.S., so it's no surprise that Paxful is facing some challenges. It's a reminder that we need more trustworthy P2P non-custodial exchanges. Hopefully, this news will give rise to many non-custodial P2P exchanges like some mentioned below.

Rise of Bitcoin P2P Exchanges

Governments are cracking down on centralised and regulated on and off-ramps that the Bitcoin ecosystem has relied on for many years as citizens wake up to the need for freedom and shift from the dollar to harder money. This tightening of regulation and control should encourage individuals to explore tools for buying and selling Bitcoin without relying on third parties or giving up custody of their Bitcoin. As a result, there has been a significant increase in the availability and improvement of peer-to-peer (P2P) platforms for buying and selling Bitcoin in recent years.

Some of them are:

Stay safe out there. Trade Bitcoin P2P, hold your keys and do not trust any centralised exchange.

Tweet of the Day:

Meme of the Day:

That's a wrap for today. Until next time.

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