Paxful has launched Security Deposit System 2.0 to enhance security of users on their website. Paxful is one of the easiest and safest ways to buy bitcoin online. This new security deposits feature will only increase peace of mind for users buying bitcoin or other cryptocurrencies on Paxul exchange.
Security of users on Paxful is one of their top priorities and to further protect their users, they have decided to improve the current security deposit system.
Security deposits come from a vendor’s BTC balance and are used to refund buyers if they happen to fall victim to a scam. They’re often used for gift cards and other high-risk payment methods as a means of protection.
In order to strengthen their safety measures and make trading more affordable for everyone, security deposits will now be calculated using the vendor’s trade history, responsiveness, and overall trade success—with security deposit requirements being calculated by the hour. Just a small number of vendors will be affected by this change and only high-risk payment methods will be affected.