Security deposits borrow funds for a defined period. It is sometimes applied to various payment methods and regions. If a security deposit is required for a trade, it's to ensure the safety of trades and to help create a secure marketplace. On Paxful, security deposits can be as low as 0.005 BTC.
Note:
- If you don’t have enough BTC in your account to cover the security deposit, your offer will not be activated.
- Your deposit amount is released 7 days after your last trade.
- Some users may have flexible security deposit logic; read more here.
- You can manage your security deposit on your Dashboard.
Uploading security deposit
1. Login to your Paxful Account. On the header bar, click Dashboards.
Note: You can use both the Vendor Dashboard and the Classic Dashboard to manage your security deposit.
2. Above the My Offers list on the Security Deposit dashboard, click Deposit.
A confirmation window then appears.
Note:
- If you click Deposit on the Security deposit dashboard, a full missing amount will be uploaded.
- If you click Deposit on the offer field of one of your offers, the exact amount required for the trade will be uploaded.
3. Read the message carefully and click Deposit to confirm the transaction.
A notification appears confirming that your bitcoins were deposited from your wallet to Paxful Secure Escrow.
The deposited amount is shown on the Security deposit dashboard.
Note: You do not have to deposit BTC for each offer or payment method separately. Your deposit covers all offers.
Withdrawing security deposit
1. Login to your Paxful account. On the header bar, click Dashboards.
Note: You can use both the Vendor Dashboard and Classic Dashboard to manage your security deposit.
2. Above the My Offers list on the Security deposit dashboard, click Withdraw.
A confirmation window then appears.
3. Read the message carefully and click Withdraw to confirm the transaction.
A notification appears confirming that your bitcoins were transferred from Paxful Secure Escrow to your wallet.
Note:
- You can withdraw your security deposit only seven days after your last trade. This includes successful and cancelled trades.
Flexible security deposit
How can I know if I have flexible security deposit logic applied to my account?
You will receive a notification that your offer has been deauthorized and requires a higher amount of security deposit to become active again. You will see a new deposit amount on your security deposit dashboard.
I already have a trading history. Once activated, based on which information does the new security deposit logic calculate the amount of my deposit?
The analysis of the trade activity starts after the feature is activated. Initially, the standard amount of 0.005 BTC is applied.
I am a user without a trading history. Based on which information does the new security deposit logic calculate the amount of my deposit?
Initially, the standard amount of 0.005 BTC is applied.How does the amount of the security deposit change?
According to your trading activity, the amount of the security deposit may increase by 0.005 BTC.How often does my security deposit amount get updated?
Your security deposit amount is recalculated after each trade.Do I have to upload a security deposit for each offer separately?
No. Your security deposit covers all of your offers at once. The security deposit is not per offer but per user.If you need any assistance from our Support team, do not hesitate to contact us. Check out this article on How to Contact Support.