Paxful which was recently closed down has resume operations


Paxful, founded in 2015, which has  $5 billion in total volume traded on the platform in 2021, with Nigeria, China, India, Kenya, and the U.S. as the top five countries by volume. It was listed as one of the most influential companies of 2022 by Time, boasting around 9 million users at the time. Weekly volume on the exchange peaked around $50 million in May 2022, according to data. For about  a few months ago the CEO of  Paxful,  Ray Youssef wrote in a post, that platform is closing down following some “key staff departures” and challenging regulatory conditions for the industry. “While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere. Youssef also added  that  a lawsuit filed by a Paxful co-founder “drove away all of the senior-level team.”

 Paxful was one of the  peer-to-peer bitcoin marketplace,that shut down its marketplace and operations since crypto winter hits in 2022. They try their best not to  freeze the monies in their customer’s account. Though the company was shutdown , they made it possible customers to withdraw their funds and trade with other crypto companies. The closure of the company left many Africans in tears especially Nigerians. This is because the company has got like every local payment method in its operations.

The coming back of the Company was uncertain,  but thanks be to the Lord , the has step back unto his feet. Hurrah! is this not a good news. Paxful is back all the previous users on paxful can join them again. Paxful is back for you all.

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